In After Hours Trading
IPOs on deck: Mogu (MOGU)
Secondaries on deck: RDHL.
Filings After The Close: common stock; mixed shelf offering; debt offering.
Earnings From After the Tuesday Close:
Surprises: MDB +0.10, ESTC +0.09, ZS +0.06, HQY +0.06, HPE +0.02, MRVL +0.01, OLLI +0.01
Earnings From Wednesday:
Surprises: GEF +2.34, CLDR +0.08, OKTA +0.07, FIVE +0.03
News After The Close:
Hourly Action This Past Week:
What’s Happening This Morning:
U.S. futures: S&P -36, Dow Jones -366, NDX -113 and Russell 2000 -16 with fair values LOWER HELPING LOSSSES. Asia and Europe lower. 8:35 a.m. EDT
Gold, silver and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 120.28 with yields lower since Tuesday morning. Prices as of 7:55 a.m. EDT.
The VIX is back above 20 at 21.05.
Top Sectors Tuesday: None as all lower.
Weakest Sectors Tuesday: All led by Industrials, Financials and Services to the downside.
One Month Winners: Healthcare and Utilities.
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: AVGO ULTA COO DOCU SAIC AOBC ASNA ZUMZ.
Earnings Due Friday Morning: MTN BIG.
Rags & Mags:
Five Things To Know Before You Start Your Day. (Bloomberg)
China to restart the purchase of soybeans and LNG. (Chinese Press Release)
Lyft moves ahead on IPO. (WSJ)
Earnings Reported This Morning:
Surprises: SCWX +0.11 , GCO +0.09 , MEI +0.08 , GIII +0.07 , SIG +0.04 , MIK +0.04 , HOME +0.03 , PDCO +0.02
Flat: LE, MOMO, PLCE
Still To Report: DLTH, HRB, HOV, KFY, KR, TTC, VRNT
Lower Guidance: MEI HOME MOMO PLCE
Mixed Guidance: SCWX
Strong Guidance: GIII MIK
Yesterday saw 457 stocks rise and 2510 fall on the NYSE. NASDAQ saw 443 rise and 2653 fall.
The SP 500 broke back below its 50 day simple moving average and its 200 day simple moving average on Tuesday. 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 on 11/21. For a move to cash, the 10DMA needs to have two days in row below -200. It remains below 0 at -106.
YTD 39% (+3%) of stocks are higher and 60% (+1) are lower. Updated 11/30/18 close with next update on 12/7/18 close.
Yesterday saw the S&P 500, Dow Jones Industrial Average and the Russell 2000 all close below support. No doubt about it Tuesday was a puke day. This morning looks to be a gap down which is preferred as maybe the low can be put in. Wednesday futures closed up +16.
The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show where we closed within the range.
November ADP Payroll Data is due out at 8:15 a.m. EDT and is expected to fall to 192,000 from 227,000.
Weekly Jobless Claims are due out at 8:30 a.m. EDT.
October Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to -2.0% from 0.7%.
November ISM Services is due out at 10:00 a.m. EDT and is expected to fall to 59 from 60.3.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT
OPEC meeting in Vienna to discuss production levels for 2019. Saudi Arabia is expected to take the lead role. No announcement yet.
White House to hold a tech roundtable at 1:00 p.m. EDT.
Federal Reserve Atlanta President Raphael Bostic to speak at 12:15 p.m. EDT.
Federal Reserve New York President John Williams to speak at 6:30 p.m. EDT.
Federal Reserve Chairman Powell to give testimony to the House at 6:45 p.m. EDT.
Conferences & Analyst Meetings:
Analyst Meetings: ALNY VRSK AY ABEO MTOR MIXT BIOS PRU T SBPH APDN.
Retail Monthly Sales: LB BKE CATO
Capital One Energy Conference.
Citi Global Healthcare Conference.
Barclays Global Technology, Media and Telecom Conference.
Roth Capital Corporate Access Conference.
LD Micro Annual Conference
M&A News & Rumors
Upgrades & Downgrades