Weekly Scoreboard*

S&P 500 4,109.5 -2.6%

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Market Wrap by Edward Jones.

Indices

• DJIA 32,417.6 -2.3%

• NASDAQ 12,643.0 -2.9%

• Russell 2000 1,634.3 -2.6%

• NYSE FANG+ 7,134.3 -2.5% 
• Roundhill Meme Stock ETF 28.8 -1.2%
  

• Goldman 50 Most Shorted 117.6 -1.8%

• Wilshire 5000 40,847.4 -2.9%

• Russell 1000 Growth 2,584.04 -2.8%

• Russell 1000 Value 1,412.7 -2.6%

• S&P 500 Consumer Staples 703.8 -1.15%

• MSCI Cyclicals-Defensives Spread 1,216.19 -.93%
  

• NYSE Technology 3,428.60 -2.2%

• Transports 13,524.7 -6.5%

• Utilities 812.40 +.55%

• Bloomberg European Bank/Financial Services 81.2 -2.3%
  

• MSCI Emerging Markets 36.63 -.95%

• Credit Suisse AllHedge Long/Short Equity Index 188.77 +.15%

• Credit Suisse AllHedge Equity Market Neutral Index 104.49 +.51%

Sentiment/Internals

• NYSE Cumulative A/D Line 444,643 -.90%
• Nasdaq/NYSE Volume Ratio 6.7 unch.

• Bloomberg New Highs-Lows Index -1,197 -124
  

• Crude Oil Commercial Bullish % Net Position -37.3 +.7%

• CFTC Oil Net Speculative Position 306,388 -4.8%

• CFTC Oil Total Open Interest 1,654,168 -5.7%

• Total Put/Call 1.20 +13.1%

• OEX Put/Call .97 -22.7%

• ISE Sentiment 78.0 -15.0 points
  

• NYSE Arms 1.21 -12.9%
  
• Bloomberg Global Risk-On/Risk-Off Index 62.0 -6.5%
• Bloomberg US Financial Conditions Index -.30 -8.0 basis points
  
• Bloomberg European Financial Conditions Index -.11 +15.0 basis points
  

• Volatility(VIX) 21.2 +.2%
• DJIA Intraday % Swing 1.23% -21.7%

• CBOE S&P 500 3M Implied Correlation Index 34.3 +7.8%

• G7 Currency Volatility (VXY) 7.8 -4.6%
  

• Emerging Markets Currency Volatility (EM-VXY) 8.3 -1.9%

• Smart Money Flow Index 11,431.7 -5.3%
• NAAIM Exposure Index  24.8 -41.9
  

• ICI Money Mkt Mutual Fund Assets $5.633 Trillion +.44%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows -$3.390 Million

• AAII % Bulls 29.3 -14.1%

• AAII % Bears 43.2 +24.9%

Futures Spot Prices

• CRB Index 285.10 -1.57%

• Crude Oil 85.05/bbl. -3.8%

• Reformulated Gasoline 231.09 -2.7%

• Natural Gas 3.16 +8.1%
• Dutch TTF Nat Gas(European benchmark) 50.5 euros/megawatt-hour +.3%
  

• Heating Oil 303.9 -3.4% 
• Newcastle Coal 134.9 (1,000/metric ton) -5.0%
  

• Gold 2,007.60 +1.27%
• Silver 25.10 -1.4%
  

• S&P GSCI Industrial Metals Index 399.61 +.15%

• Copper 364.2 +2.5%

• US No. 1 Heavy Melt Scrap Steel 360.0 USD/Metric Tonne -.8%

• China Iron Ore Spot 119.15 USD/Metric Tonne +5.5%

• CME Lumber  491.5 +.82%

• UBS-Bloomberg Agriculture 1,590.21 -.26%
• US Gulf NOLA Potash Spot 347.5 USD/Short Ton unch.
  

Economy

• Atlanta Fed GDPNow 3Q Forecast +2.26% n/a
  

• ECRI Weekly Leading Economic Index Growth Rate (graph)
  
• US Recession Within 3 Months Probability(3M/18M Forward Yld Curve Spread) 24.2% -.4 percentage point
  

• NY Fed Real-Time Weekly Economic Index 2.36 +22.9%

• US Economic Policy Uncertainty Index 21.8 -72.1%
• S&P 500 Current Quarter EPS Growth Rate YoY(246 of 500 reporting) +5.8% +3.6 percentage points

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 240.15 -.13:  Growth Rate +9.2% -.1 percentage point, P/E 17.2 -.6
  
• S&P 500 Current Year Estimated Profit Margin 12.11% unch.
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(6 of 10 reporting) +51.9% +72.8 percentage points
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 269.87 +2.56: Growth Rate +59.2% +1.5 percentage points, P/E 26.2 -1.3
  

• Citi US Economic Surprise Index 63.7 -10.8 points

• Citi Eurozone Economic Surprise Index -44.1 +11.7 points

• Citi Emerging Markets Economic Surprise Index 26.4 +3.4 points

• Fed Fund Futures imply .5%(+.4 percentage point) chance of -25.0 basis point cut to 5.0-5.25%, 99.5%(-.4 percentage points) chance of no change, 0.0%(unch.) chance of +25.0 basis point hike to 5.5-5.75% on 11/1
  

• US Dollar Index 106.6 +.4%

• MSCI Emerging Markets Currency Index 1,667.36 +.01%
  

• Bitcoin/USD 33,608.8 +12.2%

• Euro/Yen Carry Return Index 168.5 -.44%
  

• Yield Curve(2s/10s) -16.75 unch.
  

• 10-Year US Treasury Yield 4.85% -7.0 basis points
  

• Federal Reserve's Balance Sheet $7.872 Trillion -.32% 
• Federal Reserve's Discount Window Usage $2.890 Billion +6.3%
  

• U.S. Sovereign Debt Credit Default Swap 51.9 -.26%
  

• Illinois Municipal Debt Credit Default Swap 218.48 +5.8%
  

• Italian/German 10Y Yld Spread 197.0 -7.0 basis points
  
• UK Sovereign Debt Credit Default Swap 32.35 -2.5%
  

• China Sovereign Debt Credit Default Swap 83.48 -3.1%
  

• Brazil Sovereign Debt Credit Default Swap 187.98 -2.4%
  

• Israel Sovereign Debt Credit Default Swap 144.17 +5.2%

• South Korea Sovereign Debt Credit Default Swap 42.81 -.26%

• China Corp. High-Yield Bond USD ETF(KHYB) 24.74 +.41%
• China High-Yield Real Estate Total Return Index 69.09 -.7%
  

• Atlanta Fed Low Skill Wage Growth Tracker YoY +6.0% unch.
  
• Zillow US All Homes Rent Index YoY +3.2% unch.
  
• US Urban Consumers Food CPI YoY +3.7% unch.
  
• CPI Core Services Ex-Shelter YoY +3.7% unch.
  
• Cleveland Fed Inflation Nowcast Core PCE YoY +3.63% -7.0 basis  points: CPI YoY +3.32% -4.0 basis points
  
• 10-Year TIPS Spread 2.43% -4.0 basis points
  

• TED Spread 20.0 -1.5 basis points
  
• 2-Year SOFR Swap Spread -11.5 +.75 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -25.5 +1.5 basis points
  

• N. America Investment Grade Credit Default Swap Index 82.1 +.81%
  

• America Energy Sector High-Yield Credit Default Swap Index 194.0 -1.3% 
• Bloomberg TRACE # Distressed Bonds Traded 346.0 -5.0
  

• European Financial Sector Credit Default Swap Index 101.27 -1.5%
• Deutsche Bank Subordinated 5Y Credit Default Swap 293.66 -4.9%

• Emerging Markets Credit Default Swap Index 239.26 -1.9%
  

• MBS 5/10 Treasury Spread 187.0 -1.0 basis point
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 926.0 +21.0 basis points
• Avg. Auto ABS OAS .93 +6.0 basis points
  

• M2 Money Supply YoY % Change -3.6% +.1 percentage point
  

• Commercial Paper Outstanding 1,210.4 -.5%

• 4-Week Moving Average of Jobless Claims 207,500 +.6%
  

• Continuing Claims Unemployment Rate 1.2% unch.
  
• Kastle Back-to-Work Barometer(entries in secured buildings) 50.3 +1.0%
  

• Average 30-Year Fixed Home Mortgage Rate 8.04% +1.0 basis point
  

• Weekly Mortgage Applications 165,200 -1.0%

• Weekly Retail Sales +4.5% +20.0 basis points
  
• OpenTable US Seated Diners % Change YoY -4.0% +1.0 percentage point
  
• Box Office Weekly Gross $132.1M +6.5%
  

• Nationwide Gas $3.52/gallon -.04/gallon

• Baltic Dry Index 1,662.0 -18.8%

• China (Export) Containerized Freight Index 811.50 -.70%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 30.0 -7.7%
• Truckstop.com Market Demand Index 38.7 -1.7%

• Rail Freight Carloads 271,092 +1.4%
• TSA Total Traveler Throughput 2,619,848 +21.2%
  

Best Performing Style

• Mid-Cap Value -2.3%
  

Worst Performing Style

• Mid-Cap Growth -3.4%

Leading Sectors

• Education +5.5%

• Steel +3.8%
• Shipping +1.5%
  

• Foods +.8%
  

• Utilities +.6%
  

Lagging Sectors

• Internet -4.1%
  

• Energy -5.3%
  

• Oil Service -6.3%

• Alt Energy -6.3%
  

• Road & Rail -6.3%
  

Weekly High-Volume Stock Gainers (21)

• DECK, ATGE, CUBI, ARCB, PMT, FIX, SKYW, DXCM, COF, INTC, BJRI, SWK, MMSI, AMZN, JNPR, PFSI, CMG, TBBK, NEM, TXRH and DAR
  

Weekly High-Volume Stock Losers (43)

• DEO, BIPC, MAA, BMO, ABR, GM, SQ, LEA, XPO, AON, VRE, WHR, BIP, PK, HAS, CPT, UDR, HES, ABBV, CVX, TROX, SEDG, GNTX, VRSN, HTLD, AVTR, OLN, LBRDK, SAIA, CHTR, PEB, AX, CPRX, F, EXPO, ENPH, ACMR, SNY, GTLS, PTCT and B
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Reversing Lower into Afternoon on Escalating Mid-East Regional War Fears, US Policy-Induced Stagflation Concerns, Earnings Outlook Worries, Regional Bank/Alt Energy Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 21.1 +2.0%
• DJIA Intraday % Swing .73% -20.9%
  
• Bloomberg Global Risk On/Risk Off Index 62.2 -3.7%

• Euro/Yen Carry Return Index 168.6 -.51%

• Emerging Markets Currency Volatility(VXY) 8.26 -1.3%

• CBOE S&P 500 Implied Correlation Index 34.6 +9.5% 

• ISE Sentiment Index 108.0 -6.0
  

• Total Put/Call 1.16 +2.7%

• NYSE Arms 1.22 +45.2%

Credit Investor Angst:

• North American Investment Grade CDS Index 82.0 +2.0%
  

• US Energy High-Yield OAS 374.28 +.55%
• Bloomberg TRACE # Distressed Bonds Traded 346 +4
  

• European Financial Sector CDS Index 102.1 -.95% 
• Deutsche Bank Subordinated 5Y Credit Default Swap 293.08 -1.5%
  

• Italian/German 10Y Yld Spread 197.0 basis points -4.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 138.2 -.14%
  

• Emerging Market CDS Index 239.76 +.4%
• Israel Sovereign CDS 144.08 -.11%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 24.7 unch.

• 2-Year SOFR Swap Spread -11.5 basis points -.5 basis point
  

• TED Spread 20.25 basis points -1.0 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -25.5 -1.0 basis point
  
• MBS  5/10 Treasury Spread 187.0 -1.0 basis point
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 926.0 -6.0 basis points
  
• Avg. Auto ABS OAS 93.0 unch.
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 41.2 +.09%
• 3-Month T-Bill Yield 5.45% -1.0 basis point
  

• China Iron Ore Spot 119.2 USD/Metric Tonne -.43%
• Dutch TTF Nat Gas(European benchmark) 50.5 euros/megawatt-hour -.6%

• Citi US Economic Surprise Index 63.7 +2.5 points

• Citi Eurozone Economic Surprise Index -44.1 -1.5 points

• Citi Emerging Markets Economic Surprise Index 26.4 -1.0 point
• S&P 500 Current Quarter EPS Growth Rate YoY(246 of 500 reporting) +5.8% -5.3 percentage points
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 240.15 +.06:  Growth Rate +9.2% unch., P/E 17.3 unch.
  
• S&P 500 Current Year Estimated Profit Margin 12.11% unch.
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(6 of 10 reporting) +51.9% +16.9 percentage points
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 269.87 +1.48: Growth Rate +59.2% +.9 percentage point, P/E 26.7 -.7
  
• Bloomberg US Financial Conditions Index -.30 -1.0 basis point
  
• Bloomberg Euro-Zone Financial Conditions Index -.11 -7.0 basis points
  
• US Yield Curve -17.0 basis points (2s/10s) -.5 basis point
  
• US Atlanta Fed 3Q GDPNow Forecast +2.26% n/a
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +3.63% -7.0 basis points: CPI YoY +3.32% unch.
  
• 10-Year TIPS Spread 2.43 +1.0 basis point
  
• Highest target rate probability for Dec. 13th FOMC meeting: 72.1%(-8.0 percentage points) chance of 5.25%-5.5%. Highest target rate probability for Jan. 31st meeting: 65.1%(-6.7 percentage points) chance of 5.25%-5.5%.
  

Overseas Futures:

• Nikkei 225 Futures: Indicating -432 open in Japan 
• China A50 Futures: Indicating -73 open in China

• DAX Futures: Indicating +3 open in Germany

Portfolio:

• Higher:  On gains in my tech sector longs and index hedges
  

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my emerging market shorts
  

• Market Exposure: Moved to Market Neutral
  

Bear Radar

Style Underperformer:

• Small-Cap Value -1.1%
  

Sector Underperformers:

• 1) Pharma -2.9% 2) Alt Energy -2.4% 3) Biotech -2.1%

Stocks Falling on Unusual Volume: 

• AON, SQ, BIPC, WHR, BWA, BAH, PK, TROW, LEA, HUBG, HAS, NXT, CPT, ABBV, HTLD, HES, UDR, CVX, GNTX, SAIA, TROX, OLN, AVTR, SEDG, VRSN, PEB, CHTR, LBRDK, AX, F, CPRX, SAVA, EXPO, ENPH, ACMR, PTCT, GTLS and B
  

Stocks With Unusual Put Option Activity:

• 1) EDR 2) JBLU 3) OIH 4) IBB 5) F
  

Stocks With Most Negative News Mentions:

• 1) ENPH 2) PTCT 3) KNSL 4) GSIT 5) B
  

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Large-Cap Growth +.7%
  

Sector Outperformers:

• 1) Education +3.0% 2) Disk Drives +2.3% 3) Shipping +1.8%

Stocks Rising on Unusual Volume:

• DECK, ARCB, DXCM, PMT, FIX, COF, INTC, AMZN, SWK, BJRI, CMG, PFSI, JNPR, EDR, LECO and TXRH
  

Stocks With Unusual Call Option Activity:

• 1) EDR 2) NWL 3) WPM 4) WHR 5) F

Stocks With Most Positive News Mentions:

• 1) DECK 2) DXCM 3) INTC 4) COF 5) CUBI
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Monday's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• (CHKP)/2.02
• (JKS)/10.51
• (MCD)/3.00
• (ON)/1.34
• (WDC)/-1.91
• (XPO)/.64
  

After the Close: 

• (ANET)/1.58
• (BCC)/3.42
• (CHGG)/.17
• (CWK)/.21
• (FWRD)/1.12
• (LSCC)/.52
• (PSMT)/.85
• (PSA)/4.19
• (QGEN)/.48
• (SPG)/2.97
• (THC)/1.20
• (RIG)/-.24
• (TREX)/.50
• (VFC)/.65
• (AMG)/3.74
• (SANM)/1.45
  

Economic Releases

10:30 am EST

• Dallas Fed Manufacturing Activity for Oct. is estimated to rise to -16.1 versus -18.1 in Sept.
  

Upcoming Splits 

• None of note
  

Other Potential Market Movers

• The 3/6 Month T-Bill auctions and the Gabelli Funds Auto Symposium could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Morning Market Internals

NYSE Composite Index:

• NYSE Volume Running +.6% Above 100-Day Average 
• Nasdaq/NYSE Volume Ratio 7.6 -.8
  
• 7 Sectors Declining, 4 Sectors Rising
• 40.4% of Issues Advancing, 56.5% Declining
• 16 New 52-Week Highs, 201 New Lows
• 25.5%(-1.1%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 31.0 -5.0
  
• Bloomberg Global Risk-On/Risk-Off Index 64.3 -.5%
  
• Russell 1000: Growth/Value 17,860.4 +1.3%
  
• 1-Day Vix 15.5 -17.0%
  
• Vix 20.9 -2.9%
  
• Total Put/Call .93 -17.7%
• TRIN/Arms 1.34 +59.5%
  

Friday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 138.75 +2.25 basis points.

• China Sovereign CDS 84.25 +.5 basis point.
  
• China Iron Ore Spot 116.2 USD/Metric Tonne -.77%.

• Bloomberg Emerging Markets Currency Index 41.22 +.01%
• Bloomberg Global Risk-On/Risk Off Index 66.3 +2.60%. 
• Bloomberg US Financial Conditions Index -.30 +1.0 basis point.
  
• Volatility Index(VIX) futures 20.2 -1.9%.
• Euro Stoxx 50 futures +.07%.

• S&P 500 futures +.41%.

• NASDAQ 100 futures +.61%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the day.

Stocks Falling into Final Hour on Mid-East Regional War Fears, Earnings Outlook Jitters, Tightening US Financial Conditions, Tech/Energy Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Above Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 20.6 +2.1%
• DJIA Intraday % Swing .92% +9.0%
  
• Bloomberg Global Risk On/Risk Off Index 64.4 -.7%

• Euro/Yen Carry Return Index 169.4 +.06%

• Emerging Markets Currency Volatility(VXY) 8.44 +.48%

• CBOE S&P 500 Implied Correlation Index 32.3 +1.3% 

• ISE Sentiment Index 111.0 +15.0
  

• Total Put/Call 1.05 -12.5%

• NYSE Arms .87 +22.5%

Credit Investor Angst:

• North American Investment Grade CDS Index 80.4 +.4%
  

• US Energy High-Yield OAS 3711.53 +1.2%
• Bloomberg TRACE # Distressed Bonds Traded 342 +13
  

• European Financial Sector CDS Index 103.09 +2.4% 
• Deutsche Bank Subordinated 5Y Credit Default Swap 297.60 unch.
  

• Italian/German 10Y Yld Spread 201.0 basis points -2.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 138.6 +3.1%
  

• Emerging Market CDS Index 238.8 +.03%
• Israel Sovereign CDS 144.17 +1.1%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 24.7 unch.

• 2-Year SOFR Swap Spread -11.0 basis points -.25 basis point
  

• TED Spread 19.25 basis points +1.0 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -24.5 -.25 basis point
  
• MBS  5/10 Treasury Spread 188.0 -1.0 basis point
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 932.0 +1.0 basis point
  
• Avg. Auto ABS OAS 93.0 unch.
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 41.2 +.03%
• 3-Month T-Bill Yield 5.45% -1.0 basis point
  

• China Iron Ore Spot 116.8 USD/Metric Tonne -.21%
• Dutch TTF Nat Gas(European benchmark) 50.81 euros/megawatt-hour +1.8%

• Citi US Economic Surprise Index 61.2 +8.6 points

• Citi Eurozone Economic Surprise Index -42.6 -1.4 points

• Citi Emerging Markets Economic Surprise Index 27.4 +3.7 points
• S&P 500 Current Quarter EPS Growth Rate YoY(209 of 500 reporting) +11.1% +2.6 percentage points
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 240.09 -.17:  Growth Rate +9.2% -.1 percentage point, P/E 17.3 -.2
  
• S&P 500 Current Year Estimated Profit Margin 12.11% +1.0 basis point
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(4 of 10 reporting) +22.8% +43.7 percentage points
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 268.39 +.24: Growth Rate +58.3% +.1 percentage point, P/E 27.4 -.5
  
• Bloomberg US Financial Conditions Index -.25 -8.0 basis points
  
• Bloomberg Euro-Zone Financial Conditions Index -.04 +5.0 basis points
  
• US Yield Curve -16.5 basis points (2s/10s) +9.5 basis points
  
• US Atlanta Fed 2Q GDPNow Forecast +5.41% unch.
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +3.70% unch.: CPI YoY +3.32% unch.
  
• 10-Year TIPS Spread 2.42 -2.0 basis points
  
• Highest target rate probability for Dec. 13th FOMC meeting: 72.9%(+3.8 percentage points) chance of 5.25%-5.5%. Highest target rate probability for Jan. 31st meeting: 67.1%(+6.4 percentage points) chance of 5.25%-5.5%.
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +94 open in Japan 
• China A50 Futures: Indicating +33 open in China

• DAX Futures: Indicating +69 open in Germany

Portfolio:

• Higher:  On gains in my utility/industrial sector longs, index hedges and emerging market shorts
  

• Disclosed Trades: None
  

• Market Exposure: 25% Net Long
  

Bear Radar

Style Underperformer:

• Large-Cap Growth -1.5%
  

Sector Underperformers:

• 1) Disk Drives -3.6% 2) Computer Hardware -2.1% 3) Oil Service -1.8%

Stocks Falling on Unusual Volume: 

• NVST, XRAY, LTH, VRE, AEM, META, MSTR, SHOP, TRU, INVH, TSCO, SAVE, MAA, ZLAB, UPS, PRG, MA, PINS, VMC, CHX, BMY, HZO, WCN, EH, WEX, MAT, IGT, HOG, MO, CMCSA, ANET, TAK, TTD, OII, WST, ALSN, WU, WDC, STVN, CLS, HAS, RTO, PRTA, WHR, XPRO, MXL and ALGN
  

Stocks With Unusual Put Option Activity:

• 1) VNQ 2) HAS 3) ALGN 4) ALK 5) VNET
  

Stocks With Most Negative News Mentions:

• 1) ALGN 2) HAS 3) WHR 4) CLS 5) HOG
  

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Value +.7%
  

Sector Outperformers:

• 1) Regional Banks +2.8% 2) Computer Services +2.8% 3) Steel +2.1%

Stocks Rising on Unusual Volume:

• BPMC, EDR, PI, ITGR, SRRK, FCN, SAH, FLEX, OLMA, AMT, MAS, LII, ORLY, TROX, PEGA, EXEL, NOW, IBM, UCTT, FAF, CNMD, VC, NTRS and LEA
  

Stocks With Unusual Call Option Activity:

• 1) EDR 2) GT 3) XP 4) ETRN 5) MAT

Stocks With Most Positive News Mentions:

• 1) BPMC 2) WTW 3) SAH 4) FLEX 5) FCFS
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• (ABBV)/2.87
• (AON)/2.21
• (ARCB)/1.49
• (AN)5.49
• (B)/.48
• (BAH)/1.33
• (CRI)/1.54
• (CBRE)/.67
• (CHTR)/8.06
• (CVX)/3.70
• (CL)/.80
• (XOM)/2.37
• (GNTX)/.44
• (LYB)/2.03
• (NWL)/.23
• (PSX)/4.82
• (PIPR)/1.59
• (SWK)/.83
• (TROW)/1.78
  

After the Close: 

• None of note
  

Economic Releases

8:30 am EST

• Personal Income for Sept. is estimated to rise +.4% versus a +.4% gain in Aug.
• Personal Spending for Sept. is estimated to rise +.5% versus a +.4% gain in Aug.
• The PCE Core MoM for Sept. is estimated to rise +.3% versus a +.1% gain in Aug.
  

10:00 am EST

• Final Univ. of Mich. Consumer Sentiment readings for Oct.
  

11:00 am EST

• The Kansas City Fed Services Activity Index for Oct.
  

Upcoming Splits 

• None of note
  

Other Potential Market Movers

• The Fed's Barr speaking, Dallas Fed PCE Core for Sept., Baker Hughes Oil Rig Count and the CFTC Commodity spec positioning reports could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Morning Market Internals

NYSE Composite Index:

• NYSE Volume Running +17.5% Above 100-Day Average 
• Nasdaq/NYSE Volume Ratio 8.4 -.4
  
• 6 Sectors Declining, 5 Sectors Rising
• 64.8% of Issues Advancing, 32.4% Declining
• 10 New 52-Week Highs, 190 New Lows
• 25.8%(+2.3%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 36.0 unch.
  
• Bloomberg Global Risk-On/Risk-Off Index 64.6 -.44%
  
• Russell 1000: Growth/Value 17,739.4 -1.22%
  
• 1-Day Vix 15.2 -14.0%
  
• Vix 20.4 +1.2%
  
• Total Put/Call 1.01 -15.8%
• TRIN/Arms .98 +38.0%