Wednesday, November 6, 2019
TODAY’S GAME PLAN:
DATA/HEADLINES: 8:00ET Fed’s Evans speaks; 8:30ET Productivity and Labor Costs; 9:00ET Fed’s Williams speaks; 1:00ET 10 Year Note Auction; 3:15ET Fed’s Harker speaks
U.K. election campaign officially begins today. White House open to extending shutdown deadline into December. Xerox (XRX) is considering making a cash and stock offer to acquire HP Inc. (HPE). Taylor Morrison to acquire smaller rival home builder William Lyon Homes for $2.4 billion.
EQUITIES: Sector rotation is seen as a positive for the overall market tone. Energy, Financials and Materials outperformed yesterday as Real Estate (-1.7%), Utilities (-1%) and Health Care (-.89%) underperformed. Pre Market Movers at bottom of this page.
E-Mini S&P 500 is +0.09%, NQZ +0.09%, RTY +0.12%. SPX is working through short term overbought condition as hourly momentum stalls; remains positive short term above 3052. ES has initial resistance today at 3079-3081.
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