Weekly Outlook

• Wall St. Week Ahead by Reuters. 

• Weekly Market Outlook by Yahoo. (video)

• Stocks to Watch Next Week by Seeking Alpha.

• Weekly Economic Calendar by Briefing.com.

BOTTOM LINE: I expect US stocks to finish the week mixed as stable long-term rates, less political uncertainty and oil gains offset earnings jitters, Fed rate-hike fears and trade war worries. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 50% net long heading into the week.

Today's Headlines

Bloomberg:  

• Fed Risks Backlash Reining in Economy Congress Wants to Rev Up.

• Emerging Markets Give Up Gains After Midterms, FOMC.  

• Hedge Funds Brace for Worst After a Terrible October.  

• Goldman Sachs Sees S&P 500 Profit Growth Slowing to 4% in 2020.

• Alibaba(BABA) Sets Sales Record for Opening Minutes of Singles’ Day.  

• ‘Keep Talkin’ Larry’: Amazon Is Close to Tossing Oracle Software.  

• Impeaching Trump an Option Top Democrats Don't Want to Touch.

Wall Street Journal:   

• Florida Senate, Governor Races Set for Recounts.

• At Netflix, Who Wins When It’s Hollywood vs. the Algorithm?

• A Broward County Senate Steal?

• The Eurozone’s 19th Nervous Breakdown.

• Robot Design Goes Back to Nature.

• Canada’s Crude Problem: Plenty of Oil but Nowhere to Flow.

• Melbourne Attacker Was Inspired by ISIS, Police Say.

Barron's:

• Had bullish commentary on (CMI), (PII), (GD), (BA), (LMT) and (SWK).

MarketWatch.com:

• Biotech stocks have been hit hard — here are ones analysts like best for a rebound.

Fox News:

• NEWT GINGRICH: Florida election fallout threatens the very fabric of our country.

• Lawyers for Florida Democratic candidates object to noncitizen's vote being denied.

CNBC: 

• How Jamie Dimon plans to win tech IPOs and break up the Goldman-Morgan Stanley duopoly.

• 8 concept cars that show how technology will dominate the drive of the future.

• Homebuilders are facing a make-or-break level, according to charts. 

• Gunman apparently stopped shooting to post online.

• US crude oil posts longest losing streak in over 34 years, falling for 10th day.

• The charts are flashing near-term buy signals in the bond market: Bank of America's Paul Ciana.

Zero Hedge:    

• Broward Mystery Boxes Tossed Into Trucks After Missed Deadline; Gaetz Forcibly Removed While Filming.

• Trump Threatens To Cut Wildfire Funding Unless Cali Ends "Gross Mismanagement Of Forests"

• Why Chinese Authorities Are Freaking Out.

• The "Nightmare Scenario" For Beijing: 50 Million Chinese Apartments Are Empty.

• Burying The Other Russia Story: WSJ Editors Expose The House Democrats' Real Plan.

• EU Populists In France, Hungary And Italy Continue To Surge In Polls; Le Pen Overtakes Macron.

• Is The Fed Engineering A Market Crash?

• SoCal Fire Sends Thousands Fleeing; 101 Closed; Zero Containment.

• Half Of Health Spending In The US Is Now Government Spending.

• Chinese Company Pays Bondholders In Ham Instead Of Cash As Domestic Defaults Soar.

• Meet China's Disturbingly Real AI News Anchor.

• Overstock CEO: "Modern Financial System Is A Big Keynesian, Magic Money Tree Ponzi Scheme".

• Trump Warns: Dems Are Sending "Their Best Election-Stealing Lawyer" To Florida.

• Hedge Funds Brace For A November 15 Bloodbath.

• Democrats Take Aim At Gun Rights; Will Push Most Aggressive Legislation In Decades.

• No Blue Wave In 2018... But A Tsunami Of Hate.

• Weekend Reading: American Gridlock & Why Mid-Terms Don't Matter.

• Stocks Slump As Post-Election Surge Ends With Post-Powell Purge.

Business Insider:

• Teens are obsessed with candy and fruit flavored e-cigs like Juul — now the FDA is announcing a major a crackdown.

• UN expert: San Francisco’s homelessness crisis is a human rights violation and suggests ‘a cruelty that is unsurpassed’.

Weekly Scoreboard*

S&P 500 2,778.05 +1.96%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 26,002.1 +2.77%

• NASDAQ 7,406.04 +.51%

• Russell 2000 1,548.32 -.11%

• S&P 500 High Beta 40.25 +.17%

• Goldman 50 Most Shorted 156.86 +.09%

• Wilshire 5000 28,573.1 +1.64%

• Russell 1000 Growth 1,433.10 +2.08%

• Russell 1000 Value 1,214.10 +2.04%

• S&P 500 Consumer Staples 584.09 +2.82%

• MSCI Cyclicals-Defensives Spread 1,023.45 -.14%
  

• NYSE Technology 1,712.85 -.45%

• Transports 10,523.70 +1.44%

• Utilities 736.90 +1.59%

• Bloomberg European Bank/Financial Services 80.43 -.15%

• MSCI Emerging Markets 40.11 -2.08%

• HFRX Equity Hedge 1,230.70 +.68%

• HFRX Equity Market Neutral 990.86 +.38%

Sentiment/Internals

• NYSE Cumulative A/D Line 324,428 +.97%

• Bloomberg New Highs-Lows Index -122 +143

• Bloomberg Crude Oil % Bulls 44.44 +70.33%

• CFTC Oil Net Speculative Position 432,638 -4.97%

• CFTC Oil Total Open Interest 2,093,055 -1.8%

• Total Put/Call 1.03 +9.68%

• OEX Put/Call .42 -57.6%

• ISE Sentiment 61.0 -45.1%

• NYSE Arms 1.08 +16.7%

• Volatility(VIX) 17.9 -8.2%

• S&P 500 Implied Correlation 39.56 -7.3%

• G7 Currency Volatility (VXY) 7.65 +.66%

• Emerging Markets Currency Volatility (EM-VXY) 10.0 -1.96%

• Smart Money Flow Index 13,858.30 +2.63%

• ICI Money Mkt Mutual Fund Assets $2.908 Trillion +.8%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows +$4.012 Billion

• AAII % Bulls 41.3 +8.8%

• AAII % Bears 31.2 -9.5%

Futures Spot Prices

• CRB Index 188.09 -2.2%

• Crude Oil 60.05 -4.53%

• Reformulated Gasoline 161.69 -5.2%

• Natural Gas 3.72 +13.3%

• Heating Oil 216.08 -.23%

• Gold 1,208.80 -2.13%

• Bloomberg Base Metals Index 180.59 -2.01%

• Copper 268.10 -4.84%

• US No. 1 Heavy Melt Scrap Steel 341.0 USD/Metric Tonne +.15%

• China Iron Ore Spot 72.65 USD/Metric Tonne +2.32%

• Lumber 358.80 +5.48%

• UBS-Bloomberg Agriculture 940.17 -1.92%

Economy

• Atlanta Fed GDPNow Forecast +2.9% -6.0 basis points

• ECRI Weekly Leading Economic Index Growth Rate -2.6% -120.0 basis points
• Bloomberg US Recession Probability Next 12 Months 15.0% unch.

• Philly Fed ADS Real-Time Business Conditions Index .1157 -3.1%

• US Economic Policy Uncertainty Index 102.10 -55.2%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 174.38 -.06%

• Citi US Economic Surprise Index 10.0 +3.9 points

• Citi Eurozone Economic Surprise Index -55.80 +.9 point

• Citi Emerging Markets Economic Surprise Index -6.2 +3.7 points

• Fed Fund Futures imply 25.1% chance of no change, 74.9% chance of 25 basis point hike on 12/19

• US Dollar Index 96.93 +.45%

• MSCI Emerging Markets Currency Index 1,604.20 +.01%

• Bitcoin/USD 6,342.02 -.12%

• Euro/Yen Carry Return Index 134.01 unch.

• Yield Curve 26.0 -4.5 basis points
  

• 10-Year US Treasury Yield 3.18% -2.0 basis points

• Federal Reserve's Balance Sheet $4.103 Trillion +.07%

• U.S. Sovereign Debt Credit Default Swap 21.25 -2.1%

• Illinois Municipal Debt Credit Default Swap 206.37 -.03%

• Italian/German 10Y Yld Spread 299.75 +10.25 basis points

• Asia Pacific Sovereign Debt Credit Default Swap Index 9.54 -2.22%
  

• Emerging Markets Sovereign Debt CDS Index 86.17 -4.28%
  

• Israel Sovereign Debt Credit Default Swap 69.68 +.11%

• South Korea Sovereign Debt Credit Default Swap 40.31 -1.2%

• Russia Sovereign Debt Credit Default Swap 159.0 +9.7%

• iBoxx Offshore RMB China Corporate High Yield Index 148.32 +.58%

• 10-Year TIPS Spread 2.05% unch.

• TED Spread 25.75 +1.0 basis points

• 2-Year Swap Spread 19.25 -1.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -44.75 -7.5 basis points

• N. America Investment Grade Credit Default Swap Index 66.27 +.13%

• America Energy Sector High-Yield Credit Default Swap Index 564.0 +5.93%

• European Financial Sector Credit Default Swap Index 87.85 +.79%
  

• Emerging Markets Credit Default Swap Index 193.99 -.03%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 180.0 unch.
  

• M1 Money Supply $3.744 Trillion -.77%

• Commercial Paper Outstanding 1,083.80 -.3%

• 4-Week Moving Average of Jobless Claims 213,750 unch.

• Continuing Claims Unemployment Rate 1.1% unch.
  

• Average 30-Year Mortgage Rate 4.94% +11.0 basis points

• Weekly Mortgage Applications 316.20 -4.04%

• Bloomberg Consumer Comfort 61.3 +1.0 point

• Weekly Retail Sales +5.80% +10.0 basis points

• Nationwide Gas $2.72/gallon -.06/gallon

• Baltic Dry Index 1,231.0 -15.5%

• China (Export) Containerized Freight Index 854.35 +1.16%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 42.50 unch.

• Rail Freight Carloads 289,741 -1.54%

Best Performing Style

• Large-Cap Value +1.9%

Worst Performing Style

• Small-Cap Growth -.7%

Leading Sectors

• Education +6.0%

• Restaurants +5.0%

• Pharma +3.9%

• Healthcare +3.7%

• Insurance +3.7%

Lagging Sectors

• Steel -4.4% 

• Gold & Silver -4.8%

• Social Media -5.0%

• Tobacco -5.1%

• Gaming -8.1%

Weekly High-Volume Stock Gainers (12)

• REV, HTZ, FNSR, UBNT, SCOR, TRUP, WSC, QRTEA, DBX, FOE, CL and ACIW

Weekly High-Volume Stock Losers (36)

• EEX, WEX, VYGR, NEO, PENN, ENLC, AR, TEN, ROKU, BG, SRPT, MTCH, QRVO, RL, KOP, TTWO, ANGI, ASTE, DERM, SATS, IGT, VAC, ANAB, PRAA, ATVI, ICUI, AGS, SGMO, FOSL, EPAY, AMC, OMER, NTRA, GDEN and YELP

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change