In After Hours Trading
IPOs on deck: none of note.
Secondaries on deck: ABR I IQV VSLR.
Filings After The Close: ABR FANG ARWR common stock.
Earnings From After the Close: none of note.
Surprises: WDAY +0.17 , AMBA +0.12 , PANW +0.12 , AVAV +0.09 , PVH +0.07 , SPLK +0.06 , VMW +0.05 , ZUO +0.03 , GME +0.03.
Misses: ASYS (0.44) .
Flat: HPQ YEXT
Lower Guidance: AMBA ASYS GME.
Strong Guidance: PANW SPLK VMW.
News AfterThe Close:
Sprouts Farm Market (SFM) CEO Amin Maredia to leave at year end.
Symantec (SYMC) COO Michael Fey resigns effectively immediately.
Nio (NIO) Chief Development Officer and NIO USA CEO resigns for personal reasons effective 12/17.
Hourly Action This Week:
What’s Happening This Morning:
U.S. futures: S&P -11.50, Dow Jones -129, NDX -28.50 and Russell 2000 -7.50 with fair values LOWER CUTTING INTO LOSSES. Asia and Europe lower.
Gold, silver and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.52 with yields lower since Friday morning. Prices as of 7:55 a.m. EDT.
Top Sectors Thursday: Materials, Healthcare and Industrial Goods.
Weakest Sectors Thursday: Financials, Conglomerates and Technology.
One Month Winners: Healthcare, Services, Financials and Technology.
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 Monday Morning: FNSR.
Rags & Mags:
Five Things To Know Before You Start Your Day. (Bloomberg)
USMCA Signing Ceremony head at G-20. (USA Today)
Why the G-20 Leaders Are Gloating Behind Trump’s Back. (Foreign Policy)
How Canada’s feminist foreign minister cut a trade deal with Trump. (The Washington Post)
Earnings Reported This Morning:
Misses: CTRN (0.04), SFUN (0.03) FANG (0.03)
Mixed Guidance: CTRN.
Yesterday saw 1369 stocks rise and 1562 fall on the NYSE. NASDAQ saw 1379 rise and 1698 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 36% (-3%) of stocks are higher and 61% (+1) are lower. Updated 11/23/18 close with next update on 11/26/18.
Yesterday saw the S&P 500, Dow Jones Industrial Average and the Russell 2000 close resistance to pivot giving a confidence score of 67%.
The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range. This morning looks to be .
November Chicago PMI is due out at 9:45 a.m. EDT and is expected to fall to 58 from, 58.4.
Federal Reserve New York President John Williams speaks at 9:00 a.m. EDT.
The G-20 Summit begins its first day and continues into the weekend.
President Trump to meet with Japanese Minister Abwe at 11:45 a.m. EDT, Indian Prime Minister Modi at 12:30 p.m. EDT, Australian Prime Minister Morrison at 12:55 p.m. EDT.
Conferences & Analyst Meetings:
Analyst Meetings: ORAN.
Suntrust Robinson Humphrey Lodging, Gaming & Leisure Conference.
Callaway Golf (ELY) to buy Jack Wolfskin for $476 million.
Upgrades & Downgrades