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 9th Stocks Continue To Struggle

In After Hours Trading


IPOs on deck 5 due out this week. Secondaries of note .

Filings after close .

data courtesy of IPO Financial

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

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning


U.S. futures: S&P -18 Dow Jones -153, NDX -50 and Russell 2000 -9.30 with fair values lower helping to lessen the pain. Asia weaker and Europe lower as well.

Gold, silver and copper flat to up modestly. 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 price 117.67 with yields higher since Wednesday morning. Prices as of 8:00 a.m. EDT.

Top Sectors Utilities, Financials and Consumer Goods.

Weak Sectors Technology and Healthcare.

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 Wednesday morning: FAST USAT.

Rags & Mags: Inside Wall Street


Treasury yields rise to new highs as market reopens after being closed on Monday. (CNBC)

IMF cuts global forecast from 3.9% to 3.7%. (CNBC)

Michael moves to a Category 2 as it heads to the Florida panhandle. (USA Today)

Dick Bove the ax in financials says to lower exposure. (CNBC)

Mohamed El-Erian says economy looks good for the next couple of year. (CNBC)

Jack in the Box (JACK) CEO in jeopardy. (Bloomberg)

Tencent Holdings has now fallen 38%. (Bloomberg)

Red Sox hand Yankees worst playoff loss ever. (USA Today)

Amazon (AMZN) wage raise cuts total compensation. (NY Times)

When imported steel makes sense. (NY Times)

Google (GOOGL) hid Google+ social network breach for months. (WSJ)

Hedge funds continue to shut down as $4 billion Tourbillon shuts down. (WSJ)

Reported Earnings This Morning


Reported This Morning: SURPRISES HELE +.39. FLAT: MISSED: AZZ -.04.

Missing: none of note.

Lower Guidance: none of note.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: HELE.

Data Points


Yesterday saw 1464 stocks rise and 1471 fall on the NYSE. NASDAQ saw 1235 rise and 1793 fall.

The SP 500 is 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


The NFIB Small Business Optimism Index came in at 107.9 from 108.80 this morning.

Crude API Petroleum Index due out at 4:30 p.m. EDT.

Politico


Federal Reserve Chicago President Charles Evans to speak at 10:00 a.m. EDT.

President Trump to approve E-15 Gas to be used year round at 7:00 p.m. EDT.

Conference & Analyst Meetings


Meetings, Conference Calls or Announcements of note, OKTA CUTR GOOGL DDR SJM RDCM .

Conference of Note


SDN-NFV World Congress 2018.

2018 IEEE-SA Ethernet & IP @ Automotive Technology Day

M & A News


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