Rebel Yell Morning Market Report

Your Daily Financial Market Briefing - Giving You An Investing Edge Before Each Trading Day Begins

The Daily Briefing For October 11th, Stocks Continue To Fall

In After Hours Trading


IPOs on deck Allogene Therapeutics (ALLO), Livent Corp (LTHM) and Osmotica Pharmaceuticals (OSMT). Secondaries of note BOLD.

Filings after close .

data courtesy of IPO Financial

In After Hours Trading: SURPRISES none of note. FLAT: MISSED: none of note.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning


U.S. futures: S&P -20 Dow Jones -206, NDX -46 and Russell 2000 -10.40 with fair values higher increasing the pain. Asia and Europe significantly lower as well.

Gold and silver higher and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.11 with yields lower since Wednesday morning. Prices as of 7:30 a.m. EDT.

Top Sectors None.

Weak Sectors All with Technology, Services and Industrials leading the way lower.

One month winners Healthcare,Consumer Goods, Services and Technology.

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

Six Month Winners Conglomerates, Services and Technology.

One Year Winners All except for Utilities.

Year To Date Conglomerates, Healthcare and Services.

Earnings Expected


Earnings due after the close (by avg. trade volume): none of note.

Earnings due Friday morning: JPM WFC C PNC FRC.

Rags & Mags: Inside Wall Street


Hurricane Michael winds down but leaves destruction in Florida as it heads to North Carolina. (CNN)

Cramer says may be time to start buying. FYI, he is usually early.(CNBC)

80% of technology stocks down -10% or more. (CNBC)'

More hedge funds will close if volatility continues. (Bloomberg)

Reported Earnings This Morning


Reported This Morning: SURPRISES CBSH +.07 DAL +.06 WBA +.03. FLAT: MISSED: .

Missing: none of note.

Lower Guidance: none of note.

Current Morning missing: .

Mixed Guidance: DAL.

Positive Guidance: .

Data Points


Yesterday saw 1408 stocks rise and 1505 fall on the NYSE. NASDAQ saw 1309 rise and 1729 fall.

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

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 51% of stocks are higher and 49% are lower. Updated 9/28/18 close.

Economics


Monthly OPEC Oil Report was out at 7:00 a.m. EDT but not data yet.

September CPI is due out at 8:30 a.m. EDT and is expected to remain at 0.20%.

Weekly Jobless Claims due out at 8:30 a.m. EDT.

Weekly Natural Gas and Crude Oil Inventories both due out at 10:30 a.m. EDT.

WasDe Crop Report due out at 1:00 p.m. EDT.

Treasury Budget due out at 2:00 p.m. EDT.

Politico


Federal Reserve New York President John Williams speaks at 10:35 a.m. EDT.

Federal Reserve Chicago President Charles Evans speaks at 12:15 p.m. EDT.

Federal Reserve Minneapolis President Raphael Bostic and New York President John Williams to speak at 6:00 and 7:15 p.m. EDT.

President Trump t.

Conference & Analyst Meetings


Meetings, Conference Calls or Announcements of note, LB ARDX MNTA MU DAR.

Conference of Note


SND-NFV World Congress.

M & A News


CVS and Aetna (AET) merger is approved with conditions.

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