October 2, 2015
In After Hours Trading
IPOs on deck today Novocure (NVCR). Secondaries on deck CIVI O SBBP.
In After Hours Trading: MU +.05.
What’s Happening This Morning
U.S. futures: S&P +6.50, Dow Jones +59, NDX +20.25 and Russell 2000 +2.50 with fair value lower adding to gains. Asia and Europe.
Copper higher with silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield +1. Prices as of 7:55 a.m. EDT.
Earnings due after the close (by avg. trade volume): none of note.
Due Monday morning (by avg. trade volume descending): none of note.
Rags & Mags: Inside Wall Street
USA Today: Gun Control Reform front and center for President Obama post the Oregon shooting yesterday. Markets brace for monthly jobs report. Wage pressure mounts.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note. Lower Guidance none of note.
Current Morning missing: none of note.
Yesterday saw 1505 stocks rise and 1556 fall on the NYSE. NASDAQ saw 1196 rise and 1623 fall.
The SP 500 remains below its 50 day exponential moving average and below the 200 day exponential moving average. The Russell 2000 remains below its 50 day moving exponential average and is still below its 200 day exponential moving average.
The 10 day spread moving average of breadth is back to cash. The Madison Market Timing Indicator is still invested.
YTD 2079 (-1028) stocks are higher for the year and 4776 (+1021) are lower. Updated 9/4/15 Close. Prior Update 7/31/15 close.
Groups higher on Thursday led by Conglomerates, Basic Materials and Healthcare. For the week, Utilities and Financials higher.
The latest nonfarm payrolls are due out at 8:30 a.m. EDT and are expected to rise to 210,000 from 173,000 while the unemployment rate is expected to stay at 5.1%. At 10:00 a.m. EDT, August Factory Orders is due out and expected to fall to 0.5% from 0.7%.
Several European leaders meet over Ukraine. Federal Reserve Boston President Rosengren speaks at 8:30 a.m. EDT and Minneapolis President Kocherlakota speaks at 9:00 a.m. EDT. Then at 11:00 a.m. Federal Reserve Cleveland President Mester speaks followed by Federal Reserve St. Louis President Bullard at 1:00 p.m. Federal Reserve Vice Chairman Stanley Fischer concludes the massive speaker list with a speech at 1:30 p.m. EDT.
Conference & Analyst Meetings
Meetings or announcements of note KOF WWWW ACRX CSCO.
Conference of Note
M & A News
Key Upgrades and Downgrades
|Morgan Stanley||VRX GILD|
|Citigroup||UNH LPNT CNC CI|
|Banc of America|