The Morning Briefing For Wednesday May 10th

In After Hours Trading

IPOs on deck Five Point Holdings (FPH) Veritone (VERI). Secondaries of note AXDX EARN FBP INN TRHC.

In After Hours Trading: ACIA +.11 AAXN +.03 ESIO +.14 EA +.10 JAZZ -.03 NBIX -.18 NUAN -.07 NVDA +.04 PCLN +1.04 PRI -.05 SPWR +.13 .

Lower Guidance: PCLN YELP.

Mixed Guidance: AMD.

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -2.50, Dow Jones -46, NDX +0.00 and Russell 2000 -3.40. Asia mixed and Europe higher.Copper higher with silver and gold higher as well. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.38% yield, one day change +1, one month change +1 and +62 one year change. Prices as of 7:50 a.m. EDT.

Top Sectors Consumer Goods, Conglomerates and Technology.

Weak Sectors Financials, Healthcare and Utilities.

One month winners Utilities and Services.

Three Month Winners Consumer Goods, Utilities and Technology.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All except for Energy and Conglomerates.

Earnings Expected

Earnings due after the close (by avg. trade volume): FOXA NTES CTRP SYMC SNAP HOLX WFM SINA among others.Due Thursday morning (by avg. trade volume descending): ENB BAM TEVA M KSS DDS among others.

Rags & Mags: Inside Wall Street

Bloomberg: President Trump fired FBI Director James Comey with both parties. Goldman Sachs CEO Lloyd Blankfein says U.S. banks should be freed from Volcker Rule restrictions. Qatar royal family asked to take their ownership in Deutsche Bank (DB) over 10%. Vitol Group warned that oil demand may not be increasing.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ATHM +.09 CRL +.15 XEC +.18 MYL +.01 SODA +.23 BID +.28 TIME -.04 VSI -.20 WWWW +.03 WEN +.01.Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Economics

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.PoliticoPresident Trump meets with the Minister of Foreign Affairs of Russia at 10:30 a.m. EDT.Expect the firing of FBI Director James Comey to weigh on Washington today.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, NVDA MSFT. Jefferies Technology Group Investor Conference. Wells Fargo Industrial & Construction Conference. Citi Global Energy & Utilities Conference.

Conference of Note

American Society Gene Cell Therapy 20TH Annual Meeting.