IPOs on deck of note Allakos (ALLK), Constellation Pharmaceuticals (CNST), Establishment Labs (ESTA), First Western Financial (MYFW)and Tilray (TLRY). Secondaries of note ACIU CARA CARB EOLS PLYM RDFN SPWH .
In After Hours Trading: SURPRISES URI +.32 AA +.20 IBM +.04 AXP +.03 EBAY +.02 KMI +.02. MISSES none of note UMPQ -.04 PLXS -.03 CNS -.02. FLAT: .
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: MLNX.
Gold,silver and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.94 with yields higher since yesterday. Prices as of 7:55 a.m. EDT.
Top Sectors Financials and Industrial Goods.
Weak Sectors Utilities and Consumer Goods.
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 due tomorrow morning: GE HON SLB BHGE STT.
President Trump struggles to explain meeting with Putin.(Bloomberg)
EU fine of Google (GOOGL) shakes up mobile industry. (WSJ)
Trump may move ahead with auto tariffs. (WSJ)
LIBOR to go away in 2012. (NYT)
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: GWW.
Positive Guidance: .
Yesterday saw 1646 stocks rise and 1219 fall on the NYSE. NASDAQ saw 1716 rise and 1246 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 is in cash. The Madison Market Timing Indicator is still invested.
YTD 54% of stocks are higher and 54% are lower. Updated 7/6/18 close.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
Wendy's (WEN) and Papa John's (PZZA) held merger talks.
|Citigroup CC Merrill Lynchp|
|Banc of America||