U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures responded to news that a China/U.S. trade deal is close.
Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the November Empire State Manufacturing Survey was an increase to 5.0 from 4.0 in October. Actual was 2.9. Consensus for October Retail Sales was an increase of 0.2% versus a decline of 0.3% in September. Actual was an increase of 0.3%. Excluding auto sales, consensus for October Retail Sales was an increase of 0.4% versus a decline of 0.1% in September. Actual was an increase of 0.2%.
Applied Material gained $3.62 to $60.58 after reporting higher than consensus fiscal fourth quarter revenues and earnings. The company also raised guidance. JP Morgan and Deutsche Bank raised their target price on the stock. JP Morgan and Deutsche Bank raised their target price on the stock.
Nvidia gained $2.92 to $212.71 after reporting higher than consensus third quarter earnings.
Nike gained $0.53 to $91.80 after announcing an increase in its dividend by 11%
Home Depot gained $1.25 to $237.80 after JP Morgan raised its target price to $262 from $222.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/11/14/stock-market-outlook-for-november-15-2019/
Note seasonality chart on Crude Oil Days of Supply.
StockTwits released yesterday @EquityClock
Cisco $CSCO, a Dow Jones Industrial stock moved below $45.55 extending an intermediate downtrend. The company lowered fiscal second quarter guidance.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for November 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for November 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Money Talks with Michael Campbell
Don Vialoux is scheduled to be the guest analyst on Michael's weekly radio show this Saturday The broadcast on CKNW in Vancouver starts at 8:30 AM Pacific Standard Time (11:30 AM Eastern Standard Time) and is available through the net at https://globalnews.ca/radio/cknw/?gref=cknw
Hap Sneddon on BNNBloomberg's Market Call
Broadcast yesterday
Market comment
https://www.bnnbloomberg.ca/video/hap-sneddon-s-market-outlook~1829013
Past Picks
https://www.bnnbloomberg.ca/video/hap-sneddon-s-past-picks~1829015
Top Picks
https://www.bnnbloomberg.ca/video/hap-sneddon-s-top-picks~1829016
S&P 500 Momentum Barometer
The Barometer added 2.20 to 69.14 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer gained another 2.99 to 63.35 yesterday. It remains intermediate overbought and continues to trend higher.
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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