U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Index futures are responding to an overnight drop by the Turkish Lira by more than 10%.
Index futures were virtually unchanged following release of the July Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was. Excluding food and energy, consensus for the July Consumer Price Index was an increase of 0.2% versus a gain of 0.2% in June. Actual was.
The Canadian Dollar was virtually unchanged at U.S.76.44 after release of the July Canadian Employment Report at 8:30 AM EDT. Consensus was an increase in employment of 17,000 versus a gain of 31,800 in June. Actual was an increase of 54,100. Consensus the Unemployment Rate was a drop to 5.8% from 6.0% in June. Actual was a drop to 5.8%.
Lions Gate (LGF.B $22.21) is expected to open higher after reporting higher than consensus quarterly results.
Cineplex (CPX $30.30) is expected to open higher after reporting higher than consensus quarterly results.
Tesla (TSLA $352.45) is expected to open higher after the Board of Directors announced a review to take the company private.
Campbell Soup (CPB $) dropped 0.88 to $41.40 after JP Morgan downgraded the stock to Underweight from Neutral
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/08/09/stock-market-outlook-for-august-10-2018/
Note seasonality charts on the U.S. Producer Price Index, Wholesale Sales, Wholesale Inventories and Japanese Yen Futures.
StockTwits Released Yesterday @EquityClock
Cdn.Tire $CTC.A.CA, a TSX 60 stock moved below $168.18 on lower than consensus Q2 results.
IGM Financial $IGM.CA moved below $37.59, $37.64 and $37.57 setting an intermediate downtrend.
Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $FAST $FLS. Breakdowns: $BKMG $EL $MUR.
Editor's Note: After 10:00 AM EDT, breakouts included NKE, CTL, EXC and DHI. Breakdowns included PRGO and AIG.
TMX Group $X.CA moved above $88.23 to an all-time high extending an intermediate uptrend.
U.S. Telecom iShares $IYZ moved above $28.55 extending an intermediate uptrend.
Retail SPDRs $XRT moved above $51.04 to an all-time high extending an intermediate uptrend.
Brookfield Asset Management $BAM $BAM.A.CA, a TSX 60 stock moved above $43.20 U.S. extending an intermediate uptrend.
Nike $NKE, a Dow Jones Industrial stock moved above $81.00 to an all-time high extending an intermediate uptrend.
June Wholesale Sales down 3.4% (NSA), while Inventories down 0.1%. Average change for each: +1.8% and +0.4%, respectively. $MACRO #Economy
PPI for All Commodities up 0.2% in July, more than the 0.1% increase that is average for the month. $MACRO #Economy #Inflation
Trader's Corner
Equities and Related ETFs
Daily Seasonal/Technical Equity Trends for August 9th 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 9th 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 9th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 1.00 to 68.90 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer added 3.75 to 52.50 yesterday. It remains intermediate neutral and trending down.
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Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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