The Day Ahead As We Move Into The Fourth Of July Weekend

by Geoff Garbacz | 07/01/2016 08:07 AM
The Day Ahead As We Move Into The Fourth Of July Weekend

In After Hours Trading

IPOs on deck today none of note. Secondaries on deck today TSRO.

In After Hours Trading: MU +.02.

Lower Guidance: MU.

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -2.25, Dow Jones -7, NDX -4.25 and Russell 2000 +0.90 with fair value lower. Asia higher and Europe mixed.Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 1.43% yield -4, one month change -42 and -101 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors All.

Weak Sectors None.

One month winners Utilities, Energy, Materials, Consumer Goods and Industrials.

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, Basic Materials, Industrial Goods and Consumer Goods.

Earnings Expected

Earnings due after the close (by avg. trade volume): none of note.Due Tuesday morning (by avg. trade volume descending): None of note.

Rags & Mags: Inside Wall Street

Bloomberg: Yields on Treasuries (10 year and 30 year) hit historic lows as bonds rally globally. The Bank of England indicates it will provide easing. Tesla (TSLA) sees government open investigation on crash due to autopilot. Hedge funds have worst first half since 2011.Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Data Points

Yesterday saw 2632 stocks rise and 435 fall on the NYSE. NASDAQ saw 2277 rise and 603 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 still invested.

YTD 4112 stocks are higher for 2016 and 2472 are lower. Updated 6/10/16 close.

Markets are closed in Canada and Hong Kong.


June ISM Index is due out at 10:00 a.m. EDT and is expected to rise to 51.4 from 51.3.May Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.5% from -1.8%.

The U.S. bond market closes early ahead of the Fourth of July weekend.


Puerto Rico bond payments of $2 billion are due and a default could be on the horizon. Federal Reserve Cleveland President Loretta Mester will speak at 11:00 a.m. EDT.

Conference & Analyst Meetings

Meetings or announcements of note F BLL.

Conference of NoteMobile World Congress Shanghai

M & A News

Apple (AAPL) may buy privately held Tidal owned by Jay Z.

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