Monday, April 02, 2018

Today's Headlines

Wall Street Journal:

Bear Radar

Style Underperformer:
  • Mid-Cap Growth -2.9%
Sector Underperformers:
  • 1) Biotech -4.7% 2) Semis -4.5% 3) Oil Service -4.2%
Stocks Falling on Unusual Volume: 
  • ALKS, ALNY, SNX, ITCI, LFIN, TSLA, LYV, LX, TUSK, WPX and LKSD
Stocks With Unusual Put Option Activity:
  • 1) CHK 2) LB 3) LFIN 4) SYMC 5) DUST
Stocks With Most Negative News Mentions:
  • 1) ALKS 2) VRTV 3) ALNY 4) FIT 5) ENR
Charts:

Bull Radar

Style Outperformer:
  • Small-Cap Value -1.6%
Sector Outperformers:
  • 1) Gold & Silver +1.8% 2) Coal +.4% 3) Steel +.3%
Stocks Rising on Unusual Volume:
  • MNOV, BIS, ALNA, HUM, RCKT, CVLT, AOI, NEWA, AAT, SOHU, ASUR, RNST, PLSE, SAIC, SGH, SGRY, MCD, UNH, MED, RTEC, KE, CLXT and USNA
Stocks With Unusual Call Option Activity:
  • 1) XHB 2) DISCA 3) NBR 4) MAR 5) XPO
Stocks With Most Positive News Mentions:
  • 1) MNOV 2) LLNW 3) ACXM 4) STZ 5) EGLE
Charts:

Morning Market Internals

NYSE Composite Index:

Sunday, April 01, 2018

Monday Watch

Today's Headlines
Bloomberg:
  • Asian Stocks Set for Muted Start to Second Quarter. Asian shares are set for a muted open as the first trading day of the second quarter begins. Volumes are expected to be subdued as many markets across the world remain closed for the Easter holiday. Futures on the Nikkei 225 index were little changed Monday morning. The yen edged lower even as a poll showed improved support for Prime Minister Shinzo Abe’s cabinet. Chinese stock futures were also flat ahead of purchasing managers data. The dollar drifted and West Texas crude oil steadied around $65 per barrel. Nikkei 225 futures were little changed.
Wall Street Journal:
MarketWatch.com:
Night Trading
  • Asian indices are +.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 78.0 -1.25 basis points.
  • Asia Pacific Sovereign CDS Index 13.25 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 75.37 +.03%. 
  • FTSE 100 futures n/a.
  • S&P 500 futures -.26%.
  • NASDAQ 100 futures -.48%.

Earnings of Note
Company/Estimate
  • (CALM)/1.38
Economic Releases
10:00 am EST
  • Construction Spending MoM for February is estimated to rise +.3% versus unch. in January.
  • ISM Manufacturing for March is estimated to fall to 60.0 versus 60.8 in February.
  • ISM Prices Paid for March is estimated to fall to 72.5 versus 74.2 in February.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Kashkari speaking, Japan Car Sales report and the (URBN) QTD sales update could also impact trading today.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the week.

Weekly Outlook

BOTTOM LINE: I expect US stocks to finish the week mixed as oil gains, bargain-hunting and technical buying offset trade war fears, Mueller probe worries and rising geopolitical tensions. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 75% net long heading into the week.