The Day Ahead & News From After The Close For July 18th

In After Hours Trading

IPOs on deck today but 5 for the week. Secondaries on deck today TSEM.In After Hours Trading: BRO +.05 EMC +.03 IBM +.06 NFLX +.07 RMBS +.02 STLD +.02.

Lower Guidance: NFLX RMBS.

Mixed Guidance: YHOO.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -4, Dow Jones +6, NDX -11.50 and Russell 2000 -1.60 with fair value a bit higher. Asia mixed and Europe lower.Copper higher, silver lower and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 1.55% yield -3, one month change -6 and -80 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Technology, Services, Materials, Energy and Financials.

Weak Sectors Industrial Goods.


Earnings Expected

Earnings due after the close (by avg. trade volume): MSFT ISRG DFS UAL CTAS MANH AWH.Due Wednesday morning (by avg. trade volume descending): ABT MS ASML ITW HAL STJ CP APH.

Rags & Mags: Inside Wall Street

Bloomberg: Goldman Sachs (GS) beat estimates. Moody's may downgrade Turkey to junk status. Zinc has risen to its highest level in a year on supply deficit concerns. Morgan Stanley calls for 10 year treasury moving to 1%. Investors pulled the most money from active managers since October 2008 as the move to passive investors continues.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): GS +.67 JNJ +.06 KSU +.19 LMT .39 NVS +.05 UNH +.07.Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: LMT NVS.

Data Points

Yesterday saw 1886 stocks rise and 1103 fall on the NYSE. NASDAQ saw 1585 rise and 1265 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.

Economics

June Housing Starts are due out at 8:30 a.m. EDT and are expected to fall to 1,160,000 from 1,164,000.

Politico

IMF will release its latest world update.

Conference & Analyst Meetings

Meetings or announcements of note EA SRE.

Conference of Note

AHNS 9th International Conference on Head & Neck Cancer. 21st International AIDS Conference.