In After Hours Trading
IPOs on deck: none of note.
Secondaries on deck: TLC.
Filings After The Close:
Earnings From After the Close:
Surprises: ESL +0.43, KEYS +0.11, BJ +0.06, ADSK +0.02, FL +0.02, QADA +0.01, GPS +0.01.
Misses: CAL (0.07).
Mixed Guidance: CAL BJ.
Strong Guidance: KEYS ADSK.
Tuesday After The Close News:
Mylan (MYL) announces a recall of consumer level of select lots of Valsartan-containing product.
API Petroleum Data. Crude Inventories draws -1.45 million barrels. Gasoline Inventories adds +0.71 million barrels.
National Beverage (FIZZ) announces a special dividend of $2.90/share.
Hourly Action This Week:
Trading action has been a problem this week with only 10:00-11:00 and 2:00-3:00 putting in positive hours. Let’s see if today can counter this trend.
What’s Happening This Morning:
U.S. futures: S&P +22, Dow Jones +164, NDX +76 and Russell 2000 +11 with fair values HIGHER CUTTING INTO GAINS SLIGHTLY. Asia higher and Europe higher.
Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 119.14 with yields higher since Tuesday. Prices as of 7:55 a.m. EDT.
Top Sectors Yesterday: All lower.
Weakest Sectors Yesterday: Materials, Services, Consumer Goods and Financials.
One Month Winners Utilities and Financials.
Three Month Winners: Utilities
Six Month Winners: Healthcare and Utilities.
Twelve Month Winners: Healthcare, Services and Conglomerates
Year To Date Winners: Healthcare, Services, Conglomerates and Utilities.
Earnings Ahead: (sorted by Market Cap and only most impactful and notables listed)
Earnings Expected After The Close: none of note.
Earnings Due Thursday Morning: ROK.
Earnings Due Friday Morning: PDCO.
Rags & Mags:
Five Things To Know Before You Start Your Day. (Bloomberg)
Foxconn plans deep cuts as Apple business slows. (Bloomberg)
Earnings Reported This Morning:
Surprises: CMCM +0.11, BZUN +0.04, QD +0.03, DAKT +0.01
Misses: DE (0.15)
Lower Guidance: CMCM
Yesterday saw 446 stocks rise and 2527 fall on the NYSE. NASDAQ saw 748 rise and 2367 fall.
The SP 500 is still below its 50 day simple moving average and its 200 day simple moving average (2762.39). The Russell 2000 is still below its 50 day simple moving exponential average and 200 day simple moving average.
The QPI10 Day Moving Average of Breadth (10DMA) moves to cash this morning. For a move to cash, the 10DMA needs to have two days in row below -200.
YTD 39% (-1) of stocks are higher and 61% (+1) are lower. Updated 11/16/18 close with next update on 11/26/18.
Mortgage Applications hit 18 year low this morning as falls -0.1%.
Weekly Jobless Claims due out at 8:30 a.m. EDT.
August Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to -2.5% from 0.7%.
October Existing Home Sales are due out at 10:00 a.m. EDT and are expected to remain at 5,150,000.
October Leading Indicators are released at 10:00 a.m. EDT and are expected to fall to 0.1% from 0.5%.
November Michigan Sentiment is released at 10:00 a.m. EDT and is expected to remain at 98.3.
The European Commission (EC) comments on Italy’s revised budget which the EC rejected last month.
President Trump in Palm Beach, FL for Thanksgiving.
Conferences & Analyst Meetings:
Analyst Meetings: none of note.
A quite week due to Thanksgiving.
M&A Activity And Credible Rumors of Note Overnight:
Walgreens Boot (WBA) and Humana (HUM) discuss merger.
Upgrades & Downgrades