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Morning Note

News

Morning Note

"Morning Note – 11/26/18"

posted by CAPIS on 11/26/2018 at 7:34 am

by CAPIS

11/26/2018 at 7:34 am

In After Hours Trading

IPOs on deck: One IPO due this week Uranium Trading (UTC).

Secondaries on deck: .

Filings After The Close:

Courtesy of IPO Financial

Earnings From After the Close: none of note.

Surprises: none of note.

Misses: .

Flat:

Lower Guidance

Mixed Guidance:.

Strong Guidance:.

Hourly Action This Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning:

U.S. futures: S&P +31.50, Dow Jones +266, NDX +104.50 and Russell 2000 +16 with fair values HIGHER CUTTING INTO GAINS. Asia and Europe higher.

Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury price 119.17 with yields higher since Friday morning. Prices as of 7:55 a.m. EDT.

Top Sectors Friday: Healthcare.

Weakest Sectors Friday: Materials, Conglomerates 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: ENTA BKE MTSC GSM.

Earnings Due Tuesday Morning: BNS MOMO EV CBRL AQUA HIBB.

Rags & Mags:

Five Things To Know Before You Start Your Day. (Bloomberg)

The EU and Great Britain have a deal. Will Parliament pass in December. (WSJ)

President Trump threatens to shut the border. (Bloomberg)

Tesla (TSLA) was weakness away from running out of money. (CNBC)

Black Friday was all about online shopping as actual store visits fell year over year. (CNBC)

Earnings Reported This Morning:

Surprises: DSX +0.09, JKS +0.04

Flat:

Misses:

Lower Guidance:

Mixed Guidance:

Strong Guidance:

Date Points:

Yesterday saw 1253 stocks rise and 1571 fall on the NYSE. NASDAQ saw 1593 rise and 1354 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) moved to cash last Wednesday morning (11/21). 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.

Courtesy of Quantitative Partners, Inc

Trading:

Yesterday saw the  S&P 500 and Dow Jones Industrial Average finish Friday below support. The Russell has been showing intraday strength for last week against the S&P 500 and Dow Jones.

The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show were we closed within the range. This morning looks to be  gap open above resistance. Of late, most gap opens have failed in short order. Will today start a new trend?

courtesy of Phil Erlanger Research

Economic: 

Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as consumer confidence, Q3 GDP, new home sales, personal income and Chicago PMI.

Politico:

Monday sees markets open to a deal announced between the European Union and Great Britain on Brexit. Wednesday sees Federal Reserve Chairman Powell speak. Thursday sees the FOMC release it latest minutes. Saturday sees President Trump and President Xi meet at the G-20.

Conferences & Analyst Meetings:

Analyst Meetings: none of note. BW BHVN

Sellside Conferences:

Citi Basic Materials Conference (11/26-11/28)

Credit Suisse Annual Technology, Media and Telecom Conference (11/26-11/29)

M&A  Activity And Credible Rumors of Note Overnight:

Logitech (LOGI) and Plantronics (PLT) held discussions over Logitech buying Plantronics. However, Logitech terminated discussions.

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