In After Hours Trading
No IPOs on deck today. Secondaries of note ABR BDX BFAM CNAT ITUS SP.
In After Hours Trading: FOXA +.06 ELF +.04 HOLX +.04 NTES +.73 SNAP -.26 .
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P -6, Dow Jones -42, NDX -18 and Russell 2000 -6.40. Asia mixed and Europe higher.
Copper higher with silver and gold higher as well. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.39% yield, one day change -2, one month change +9 and +65 one year change. Prices as of 7:50 a.m. EDT.
Top Sectors Materials, Energy, Technology, Financials and Utilities.
Weak Sectors Industrials.
One month winners Utilities and Services.
Three Month Winners Consumer Goods, Utilities and Technology.
Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.
One Year Winners Energy, Materials, Industrial Goods and Utilities.
Year To Date All except for Energy and Conglomerates.
Earnings Expected
Earnings due after the close (by avg. trade volume): CA WB JWN MIDD DAR CYBR TTD among others.
Due Friday morning (by avg. trade volume descending): MT AYA JCP among others.
Rags & Mags: Inside Wall Street
Bloomberg: Bank of England left rates unchanged. The European Commission said growth is going to be stronger than forecasted. Moody’s downgraded the ratings of Canada’s six largest banks. FBI Director Comey fallout continues. Federal Reserve Boston President Rosengren calls for three more rate hikes.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): DDS +.06 ENB -.08 HIMX -.02 KSS +.10 M -.12 SNDR +.02 TEVA +.036 VSTO -.15.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1896 stocks rise and 1000 fall on the NYSE. NASDAQ saw 1581 rise and 1256 fall.
The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is back above its 50 day moving exponential average and is above 200 day exponential moving average.
The 10 day spread moving average of breadth is back to invested as of Friday’s close. The Madison Market Timing Indicator is now invested since November 18th.
YTD 2662 stocks are higher and 1979 lower. Updated 3/31/17 close.
Economics
April PPI is due out at 7:30 a.m. EDT and is expected to rise 0.2% from -0.1% last month.
Weekly Natural gas Inventories are due out at 10:30 a.m. EDT.
Politico
Federal Reserve New York President William Dudley speaks at 6:25 a.m. EDT.
G-7 Finance Ministers meet in Italy.
President Trump receives the daily intelligence briefing at 10:00 a.m. and then will be tweeting on the firing of FBI Director James Comey no doubt with the daily White House briefing at 1:30 p.m. EDT.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, STM EVH WMB WPZ WFC IMAX BSX. Citi Global Energy & Utilities Conference.
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