Rebel Yell Morning Market Report

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

The Daily Briefing For September 21st

This is an abbreviated update today. Have a great weekend and we will have more commentary later today and over the weekend. Enjoy the first weekend of fall!!!

Daily Briefing

In After Hours Trading


IPOs on deck Farfetch (FTCH) Y-mAbs Therap (YMAB). Secondaries of note ASM AZRE CRSP EVOP FATE FPAY MTEM SKY TWIN URG VKTX VRTV WMC.

Filings after close .

data courtesy of IPO Financial

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

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning


U.S. futures: S&P -1 Dow Jones +25, NDX -1 and Russell 2000 -1 with fair values lower creating gains. Asia mixed and Europe mixed.

Gold lower with silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 118.61 with yields lower overnight. Prices as of 8:00 a.m. EDT.

Top Sectors All higher.

Weak Sectors none.

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 tomorrow morning: none of note.

Rags & Mags: Inside Wall Street


UBS upgrades AT&T (T) to a buy on "low valuations". We have open recommendation on the name. (CNBC)

New Apple (AAPL) phones XS XS Max go on sale globally. (CNBC)

Today is quadrupple witching as futures, options, indexes and stocks. (Bloomberg)

9/28 close is second largest revision to the GIC Classification since 1999. (Bloomeberg)

Technology from driverless cars used to build the "virtual wall". (NYT)

Airlines fight move to regulate ticket changes. (WSJ)

British Prime Minister remains tough on Brexit negotiations. Pound lower. (Bloomberg TV)

Reported Earnings This Morning


Reported This Morning: SURPRISES . FLAT: MISSED: .

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: DRI.

Positive Guidance: .

Data Points


Yesterday saw 1954 stocks rise and 937 fall on the NYSE. NASDAQ saw 2211 rise and 821 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 above its 50 day moving exponential average and is above 200 day exponential moving average.

The 10 day spread moving average of breadth moved to cash last week. The Madison Market Timing Indicator is still invested.

YTD 53% of stocks are higher and 47% are lower. Updated 9/14/18 close.

Economics


None of note

Politico


The European Union continues meetings today in Austria and main topic will be Brexit.

Conference & Analyst Meetings


Meetings, Conference Calls or Announcements of note, AVP BX.

Janney Montgomery Scott Healthcare Conference.

Conference of Note


IBC 2018.

M & A News


Fox (FOXA) and Comcast (CMCSA) holding one day auction for Sky assets with results known over the weekend.


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