The Day Ahead Should Be Interesting With Some Fedspeak & Economic Data

In After Hours Trading

IPOs on deck today none of note. Secondaries On Deck this morning none of note.In After Hours Trading: CSX +.03.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -11.00, Dow Jones -93, NDX -27.75 and Russell 2000 -7.10. Asia ex China and Europe lower on the back of China weakness.Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield at 1.76% yield, one month change +9 and -32 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors None.

Weak Sectors All.

One month winners Utilities, Energy, Materials and Technology.

Three Month Winners Technology, Healthcare, Financials and Consumer Goods.

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

One Year Winners Utilities, Technology and Industrial Goods.

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

Earnings Expected

Earnings due after the close (by avg. trade volume): CSX.Due Thursday morning (by avg. trade volume descending): DAL VAC PGR TSM WGO.

Rags & Mags: Inside Wall Street

Bloomberg: Deutsche Bank (DB) starts a hiring freeze. Earnings season may see excuses due to a dollar rise. Trump is puzzled why some women are not voting for him.Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): DAL +.05 TSM +.04.Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1531 stocks rise and 1390 fall on the NYSE. NASDAQ saw 1328 rise and 1449 fall.

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

The 10 day spread moving average of breadth is back to cash as of the close on October 6th. The Madison Market Timing Indicator is now in cash as of July 8th.

YTD 4475 stocks are higher for 2016 and 1993 are lower. Updated 9/30/16 close.

Economics

Weekly Oil & Gas and Natural Gas Inventories due out at 11:00 and 10:30. Weekly Jobless Claims due out at 8:30. At 8:30 September Import/Export data is due out as well.

Politico

President Obama will host the White House Frontiers Conference. Also on Thursday Federal Reserve President Patrick Harker will speak in Philadelphia.

Conference & Analyst Meetings

Meetings or announcements of note, RICK HPQ HWLP ULTA BV BLUE CAG. Jefferies Gene Editing/Therapoy Summit.