The Day Ahead & News From Labor Day Weekend/Monday

by Geoff Garbacz | 09/06/2016 08:24 AM
The Day Ahead & News From Labor Day Weekend/Monday

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck none of note. Expect deal flow to ramp up in the next few weeks.In After Hours Trading: none of note.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P +2, Dow Jones +19, NDX +5.75 and Russell 2000 +1.50 with fair value lower. Asia mixed and Europe higher.Copper higher with silver and gold higher. WTI Crude higher and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 1.60% yield, one month change +1 and -53 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors All.

Weak Sectors None.

One month winners Technology, Conglomerates, Financials and Consumer Goods.

Three Month Winners Energy, Materials, Healthcare and Utilities.

Six Month Winners Energy, Materials, Utilities and Industrial Goods.

One Year Winners Utilities, Technology and Industrial Goods.

Year To Date Utilities, Energy, Materials, Industrial Goods and Consumer Goods.

Earnings Expected

Earnings due after the close (by avg. trade volume): CASY NX SCWX SIGM TIVO.Due Wednesday morning (by avg. trade volume descending): FRAN HDS JW.A VAL.

Rags & Mags: Inside Wall Street

Bloomberg: Australia held interest rates overnight in their latest update. Saudi-Russia oil deal announced on Monday has held stabilize energy prices but the prices are off Monday's high. Trump is now leading in a CNN Poll.

The Wall Street Journal: A boom for high yield debt leads to concerns. Apple (AAPL) on Wednesday will announce new iPhones.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ALR -1.04 MRVL +.07.Missing: .

Lower Guidance: MRVL.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 2400 stocks rise and 567 fall on the NYSE. NASDAQ saw 1930 rise and 856 fall.

The SP 500 is back above its 50 day exponential moving average and its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of June 29th close. The Madison Market Timing Indicator is now in cash as of July 8th.

YTD 4542 stocks are higher for 2016 and 2011 are lower. Updated 8/19/16 close.


August ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and are expected to rise to 97.5 from 97.3.


The House and Senate return from a seven week break. Is it a coincidence stocks moved higher during this period?Monday saw Russian President Putin meet with German Chancellor Merkel and French President Hollande. Also on Monday the G-20 meeting continued. Finally, on Monday Bank of Japan Governor Kuroda spoke.

Ovenight FederalReserve San Francisco President Williams will speak.

Conference & Analyst Meetings

Meetings or announcements of note, GE holds a webcast. Barclays CEO Energy Power Conference. Citi Global Technology Conference. Citi Annual Biotech Conference.

Conference of Note

BoxWorks 2016 begins in San Francisco.

M & A News

Danaher (DHR) to buy Cepheid (CPHD) for $53 in cash. Bayer raises offer for Monsanto (MON). Enbridge to buy Spectra Energy (SE) for $28 billion in a sstock deal.

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