Style Underperformer:
Sector Underperformers:
- 1) Utilities -.70% 2) Gold & Silver -.50% 3) REITs +.32%
Stocks Faling on Unusual Volume:
- BRY, IRDM, BBG, ABX, PC, ANV, WMB, WMT, WPZ, ABMD, FARO, CRUS, AAWW, OTEX, ELLI, TDC, GBX, COHR, ZUMZ, GTLS, ANSS, GLRE, ITRI, WPX, ROST, CNW, VNTV, GNC, OIS, LPS, RDC, PZZA, RGR, NRP, WPC, SFY and GTLS
Stocks With Unusual Put Option Activity:
- 1) TRIP 2) KBH 3) JCP 4) IBB 5) HOT
Stocks With Most Negative News Mentions:
- 1) ZUMZ 2) H 3) CCJ 4) ABX 5) AMZN
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Semis +2.75% 2) Networking +2.71% 3) Hospitals +2.54%
Stocks Rising on Unusual Volume:
- SNI, JDAS, FIRE, HPY, SM, MDC, SHOO, STLD, CYH, AZPN, VC, CTRX, HSC, IDCC, VRTX, OCR, RS, HSH and ROK
Stocks With Unusual Call Option Activity:
- 1) AMAT 2) TTWO 3) DTG 4) ARO 5) WU
Stocks With Most Positive News Mentions:
- 1) SSI 2) LMT 3) M 4) MRO 5) CHK
Charts:
Night Trading
- Asian equity indices are -.75% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 119.0 -4.0 basis points.
- Asia Pacific Sovereign CDS Index 93.75 -2.75 basis points.
- FTSE-100 futures +.21%.
- S&P 500 futures -.24%.
- NASDAQ 100 futures -.11%.
Morning Preview Links
Earnings of Note
Company/Estimate
- (CBOE)/.38
- (PFE)/.52
- (MDC)/.21
- (ADP)/.62
- (ATK)/1.48
- (XOM)/1.96
- (SUP)/.19
- (EL)/.77
- (LLL)/1.85
- (ABC)/.68
- (AVP)/.23
- (CI)/1.36
- (K)/.81
- (APA)/2.27
- (OPEN)/.37
- (LVS)/.60
- (RKT)/1.38
- (SBUX)/.45
- (DWA)/.11
- (FSLR)/1.07
- (HIG)/.83
- (FLR)/1.96
- (AIG)/.87
- (PBI)/48
- (JOE)/-.01
- (WMS)/.19
- (VNO)/1.16
- (PCLN)/11.79
- (NEM)/.89
- (ONXX)/-1.21
- (EXC)/.72
- (MHK)/1.02
- (NILE)/.13
- (HCA)/.78
- (LNKD)/.11
- (EIX)/1.00
- (DTG)/1.66
- (EQIX)/.58
Economic Releases
8:15 am EST
- ADP Employment Change for October is estimated at 135K versus 88.2K in September.
8:30 am EST
- Preliminary 3Q Non-farm Productivity is estimated to rise +1.8% versus a +2.2% gain in 2Q.
- Preliminary 3Q Unit Labor Costs are estimated to rise +.8% versus a +1.5% gain in 2Q.
- Initial Jobless Claims are estimated to rise to 370K versus 369K the prior week.
- Continuing Claims are estimated to fall to 3250K versus 3254K prior.
10:00 am EST
- Consumer Confidence for October is estimated to rise to 73.0 versus 70.3 in September.
- ISM Manufacturing for October is estimated to fall to 51.0 versus 51.5 in September.
- ISM Prices Paid for October is estimated to fall to 56.5 versus 58.0 in September.
- Construction Spending for September is estimated to rise +.7% versus a -.6% decline in August.
Afternoon:
- Total Vehicle Sales for October are estimated to rise to 14.9M versus 14.88M in September.
Upcoming Splits
Other Potential Market Movers
- The Fed's Lockhart speaking, Fed's Rosengren speaking, Challenger Job Cuts report for October, RBC Consumer Outlook Index for November, Final Oct. Markit US PMI, weekly Bloomberg Consumer Comfort Index, Australia PMI, UK PMI, Brazil industrial production, China Central Committee Meeting and the EIA natural gas inventory report could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by real estate and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
Broad Market Tone:
- Advance/Decline Line: Lower
- Sector Performance: Mixed
- Volume: Below Average
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- VIX 18.79 +5.50%
- ISE Sentiment Index 106.0 unch.
- Total Put/Call .83 -16.16%
- NYSE Arms .87 -45.23%
Credit Investor Angst:
- North American Investment Grade CDS Index 99.28 bps -1.25%
- European Financial Sector CDS Index 175.0 bps +.39%
- Western Europe Sovereign Debt CDS Index 106.85 bps -.22%
- Emerging Market CDS Index 234.59 bps -.29%
- 2-Year Swap Spread 9.75 -.25 basis point
- TED Spread 20.0 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -24.0 +.5 basis point
Economic Gauges:
- 3-Month T-Bill Yield .11% unch.
- Yield Curve 140.0 -2 basis points
- China Import Iron Ore Spot $119.30/Metric Tonne -.42%
- Citi US Economic Surprise Index 48.10 -2.1 points
- 10-Year TIPS Spread 2.50 +2 basis points
Overseas Futures:
- Nikkei Futures: Indicating +13 open in Japan
- DAX Futures: Indicating +3 open in Germany
Portfolio:
- Slightly Higher: On gains in my Medical/Retail sector longs and index hedges
- Disclosed Trades: None
- Market Exposure: 25% Net Long
Style Underperformer:
Sector Underperformers:
- 1) Biotech -2.40% 2) HMOs -2.01% 3) Oil Service -1.92%
Stocks Faling on Unusual Volume:
- BIRT, LPS, IPGP, ONB, FMBI, IPHI, IQNT, TLM, END, CBEY, PBR, LGCY, LLY, PBH, MNST, COT, WU, IRG, DCM, HURN, H, IPXL, QEP, RVBD, ONB, CAM, WPC, MSTR, VRSN, LPNT, MVO, ANIK, ALLT, CLNE, COR, NS, UHS, EQT, CBG, FB, RDC, IMGN, CPNO, AGCO, TWGP, CRL, RBC, CQP, GLT, H, AREX, TUMI, LUFK, VVUS and WCG
Stocks With Unusual Put Option Activity:
- 1) LOW 2) CTSH 3) ALL 4) HIG 5) DIS
Stocks With Most Negative News Mentions:
- 1) WU 2) HURN 3) CRNT 4) WFC 5) FB
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Gold & Silver +1.87% 2) Education +1.13% 3) Oil Tankers +.89%
Stocks Rising on Unusual Volume:
- GNW, SHF, OPNT, GNRC, WRC, PVH, VRSK, CLH, CVLT, LECO, PWR, CAVM, UBS, F, HMSY, EXP, OC, URI, LEG and CTCT
Stocks With Unusual Call Option Activity:
- 1) HLF 2) ALL 3) GFI 4) RSX 5) VIXY
Stocks With Most Positive News Mentions:
- 1) WRC 2) RRGB 3) UNH 4) HON 5) ISRG
Charts:
