Today is a condensed update due to an early morning meeting. Expect all categories to return tomorrow.
DAILY PLAYBOOK
In After Hours Trading
IPOs on deck of note none. Secondaries of note KHC KREF MEDP MXWL PGNX RSLS SABR STAA TRTX WCG ZGNX.
In After Hours Trading: SURPRISES SFLY +0.77 FOSL +.71 JAZZ+0.28 AAOI +0.20.
Lower Guidance: .
Mixed Guidance: .
What's Happening This Morning
U.S. futures: S&P +1.25, Dow Jones +22, NDX +2.75 and Russell 2000 -0.80 with fair values lower. Asia and Europe mixed.
Gold, silver and copper mixed. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 119.44 with yields higher since yesterday. Prices as of 7:55 a.m. EDT.
Top Sectors Industrials, Technology and Materials.
Weak Sectors Utilities.
One month winners Utilities, Healthcare and Consumer Goods.
Three Month Winners Utilities Conglomerates, Services and Technology.
Six Month Winners Services, Technology and Conglomerates.
One Year Winners All except for Utilities.
Year To Date Conglomerates, Services and Technology.
Earnings Expected
Earnings due after the close (by avg. trade volume): FOXA BKNG OXY EQIX NTES MNST ETP CTL ETE MELI IAC
Earnings due tomorrow morning: BAM CCE LNG PRGO VIAB MMS CABO ARRY PLCE GOOS MDP DDS.
Rags & Mags: Inside Wall Street
Tesla (TSLA)Board looks at going private. (CNBC)
China announces 25% tariffs on $16 billion worth of goods. (WSJ)
Ohio special election too close to call. A negative for Trump. (NYT)
China trade surplus was $28.05 billion. (Bloomberg)
Reported Earnings This Morning
Reported This Morning: SURPRISES KDP +1.01 KORS +0.37 GOGO +0.35 LITE +0.30 SBGI +0.23 CRL +0.16 SO +0.11 CVS +0.08 WWW +.08 TRI +.06 DLPH +.05 NYT +.05. MISSES . FLAT:
Missing: .
Lower Guidance: OMI XRAY.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance:.
Data Points
Yesterday saw 1527 stocks rise and 1336 fall on the NYSE. NASDAQ saw 1660 rise and 1128 fall.
The SP 500 is back above its 50 day exponential moving average and is 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 moves below -200 for second day and now we move to a sell. The Madison Market Timing Indicator is still invested.
YTD 53% of stocks are higher and 47% are lower. Updated 7/27/18 close.
Economics
MBA Mortgage Applications fell -3.0% versus -2.6% last week.
Weekly Crude Oil Inventories due out at 10:30 a.m. EDT with last week rising +3.8 million barrels.
Politico
Federal Reserve Richmond President Thomas Barkin speaks at 8:45 a.m. EDT.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, COST FRPT CMPR.
Conference of Note
M & A News
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