The S&P 500 got its first win of the week on
Thursday, adding 0.3%, as investors continued to chew on Wednesday's policy
statement from the Fed. The Dow Jones Industrial Average advanced 0.2%, and the
Nasdaq Composite climbed 0.7%. The small-cap Russell 2000 underperformed,
closing lower by 0.1%.
Today after the close the following companies were scheduled to report earnings: CAMP, PRGS.
Futures are higher after hours: S&P 500 futures are +3.00 from its fair value of 2,919 and Nasdaq-100 futures are +7.50 from fair value of 7,656.
Tomorrow morning, economic reports scheduled to be released include: PCE Prices (08:30am ET, Consensus 0.1%), PCE Prices -- Core (08:30am ET, Consensus 0.1%), Personal Income (08:30am ET, Consensus 0.4%), Personal Spending (08:30am ET, Consensus 0.3%).
Tomorrow before the open the following companies are scheduled to report earnings: MTN, BB.
Looking at the energy space, natural gas futures settled the day $0.07 higher (or +2.4%) at $3.05/MMBtu following the weekly EIA storage data:
- Natural gas inventory showed a build of 46 bcf vs a build of 86 bcf in the prior week
- Working gas in storage was 2,768 Bcf as of Friday, September 21, 2018, according to EIA estimates. This represents a net increase of 46 Bcf from the previous week. Stocks were 690 Bcf less than last year at this time and 621 Bcf below the five-year average of 3,389 Bcf. At 2,768 Bcf, total working gas is below the five-year historical range
In corporate news:
Reports came out that Tesla's founder/CEO Elon Musk is getting hit with charges from the SEC. Fraud charges allege Elon Musk mislead investors with the infamous 'funding secured' tweet on August 7. After hours, shares of TSLA are down 10% at $276.50/share.