In After Hours Trading
IPOs on deck of note none. Secondaries of note ARPO HRTX SENS.
In After Hours Trading: SURPRISES none of note. MISSES none of note.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What's Happening This Morning
U.S. futures: S&P -3.25, Dow Jones -32, NDX +4 and Russell 2000 -3.30 with fair value flat. Asia and Europe modestly higher.Gold, silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 120. Prices as of 7:40 a.m. EDT.
Top Sectors Utilities.
Weak Sectors all others.
One month winners Basic Materials, Utilities, Services and Healthcare.
Three Month Winners Utilities.
Six Month Winners Services, Basic Materials, Technology and Conglomerates.
One Year Winners All except for Conglomerates.
Year To Date Basic Materials, Services and Technology.
Earnings Expected
Earnings due after the close (by avg. trade volume): AVAV SONC DTRM.Earnings due tomorrow morning: GIS PAYX CGC UNF WOR.
Rags & Mags: Inside Wall Street
Trade Advisor Peter Navarro calmed markets yesterday stating that foreign investment will be allowed. (Bloomberg)China being hurt by trade tensions and deleveraging of the economy. Now in a bear market. (Bloomberg)
Chines President Xi tells Chinese companies he will strike back at U.S. (WSJ)
General Electric (GE) to spinofff Health Care business in strategy shift.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SURPRISES FDS +.05 INFO +.04 LEN 1.14 SCHN +.08. MISSES JKS -.18.Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 698 stocks rise and 2216 fall on the NYSE. NASDAQ saw 709 rise and 2300 fall.
The SP 500 is above its 50 day exponential moving average but tested it yesterday and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and is above 200 day exponential moving average.
The 10 day spread moving average of breadth is invested. The Madison Market Timing Indicator is still invested.
YTD 45.66% of stocks are higher and 53.80% are lower. Updated 4/27/18 close.
Economics
June Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 128.2 from 128.The latest short interest for the NYSE and NASDAQ through June 15th settlement date is due out after the close
Politico
Federal Reserve Dallas President Robert Kaplan speaks at 1:45 p.m. EDT.Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, APLS IAG CRM CBAY ALNY TECH ATRC AKAM. Goldman Sachs European Business Services, Transport & Leisure Conference. UBS Korea Conference.Conference of Note
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup CC Merrill Lynchp | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Stifel | ||
| William Blair | ||
| Jefferies | CTL | |
| RBC | ||
| Needham | ||
| Raymond James | ||
| Stifel | ||
| Friedman Billings | ||
| Bernstein | INTC |
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