Market Outlook for Wednesday, October 23, 2019

Free Live Online Classes
Premium Live Online Classes
Premium On-Location Classes
Next Step Workshops
News - "Asia Pacific Markets Take A Plunge After Another Brexit Delay"

Markets across Asia Pacific saw a decline late on Wednesday after another Brexit deal delay was announced.

What Happened

In Japan, where the market reopened after the emperor enthronement day on Wednesday, Nikkei 225 (OTC: JPX) (NDEXNIKKEI: NI225) saw a decline of 0.27%, after the Brexit news and Tokyo Electron (TYO: 8035) fell by 3.6%. Australia’s S&P/ASX reacted with a 0.51% drop. 

The South Korean market (KOSPI) took a hit as well. SK Hynix (KRX: 000660) went down 1%, Kospi (KRX: KOSPI) is down 0.28%, and Apple supplier LG Display (KRX: 034220) fell 2.41%.

Hong Kong’s Hang Seng Index saw a 0.6% fall, as did Singapore’s Straits Times Index (STI) – by 0.26%.

Thailand’s market was closed for Chulalongkorn Memorial Day.

Why It Matters

The UK Members of Parliament rejected Prime Minister Boris Johnson’s proposal to fast-track his Withdrawal Agreement Bill through the House of Commons. According to the BBC, Johnson has hit the pause button on his legislation following the vote and could be seeking an election. It means that Britain’s exit from the European Union is unlikely to happen by the anticipated Oct. 31 deadline.

What Next

Pound Sterling (GBP) is trading at $1.2854 down at 0.17% post the Parliament session after it hit a five-month high on Monday at $1.3012.

At press time, Nikkei 225 has recovered but still trading at 0.043% drop. S&P/ASX (OTC:STW) in Australia is trading at 0.35% down. Singapore’s STI is still down 0.45%. South Korean markets SK Hynix and Kospi have not shown any signs of recovery yet.

Today's Earnings
TickerCompany NameTime
AEMAgnico Eagle Mines4:00 PM
AKRAcadia Realty Trust4:00 PM
ALGNAlign Tech4:00 PM
ALKSAlkermes7:00 AM
ALXNAlexion Pharmaceuticals8:00 AM
AMPAmeriprise Financial4:00 PM
ANTMAnthem6:00 AM
APHAmphenol8:00 AM
APYApergy4:00 PM
ARIApollo Commercial Real4:00 PM
ARRARMOUR Residential REIT4:00 PM
ATNIATN International5:00 PM
AVYAvery Dennison8:00 AM
BABoeing7:00 AM
BANCBanc of California8:00 AM
BANRBanner4:00 PM
BCOBrink's8:00 AM
BCOVBrightcove4:00 PM
BKUBankUnited8:00 AM
BMRNBiomarin Pharmaceutical4:00 PM
BOKFBOK Financial8:00 AM
BPOPPopular8:00 AM
BRKLBrookline Bancorp4:00 PM
BSXBoston Scientific7:00 AM
BXBlackstone Group8:00 AM
BXMTBlackstone Mortgage Trust4:00 PM
CADECadence Bancorp8:00 AM
CATCaterpillar7:00 AM
CBDCompanhia Brasileira4:00 PM
CLBCore Laboratories4:00 PM
CLFCleveland-Cliffs8:00 AM
CLGXCoreLogic4:00 PM
CMCCommercial Metals8:00 AM
CMOCapstead Mortgage4:00 PM
CMRECostamare4:00 PM
CPCanadian Pacific Railway4:00 PM
CPFCentral Pacific Financial8:00 AM
CSTMConstellium8:00 AM
CUBICustomers Bancorp4:00 PM
CUZCousins Properties4:00 PM
CVBFCVB Financial4:00 PM
CVICVR Energy4:00 PM
CYBECyberOptics4:00 PM
DHTDHT Holdings4:00 PM
DNBFDNB Financial8:00 AM
EBAYeBay4:00 PM
ECHOEcho Global Logistics4:00 PM
EFXEquifax4:00 PM
EGPEastGroup Properties4:00 PM
EIGEmployers Holdings4:00 PM
ESRTEmpire State Realty Trust4:00 PM
ESSEssex Property Trust4:00 PM
EVREvercore8:00 AM
EWEdwards Lifesciences4:00 PM
FFord Motor4:00 PM
FBHSFortune Brands Home4:00 PM
FCFSFirstCash6:00 AM
FCXFreeport-McMoRan8:00 AM
FEDUFour Seasons Education8:00 AM
FFIVF5 Networks4:00 PM
FIBKFirst Interstate BancSys4:00 PM
FRFirst Industrial Realty4:00 PM
FSBFranklin Finl Network4:00 PM
FSVFirstService7:30 AM
FTITechnipFMC4:00 PM
GDGeneral Dynamics8:00 AM
GGBXFGreen Growth Brands4:00 PM
GGGGraco4:00 PM
GLGlobe Life4:00 PM
GTYGetty Realty4:00 PM
GWWW.W. Grainger8:00 AM
HLTHilton Worldwide Holdings8:00 AM
HRIHerc Holdings8:00 AM
ICLRIcon4:00 PM
INBKFirst Internet4:00 PM
ISBCInvestors Bancorp5:00 PM
IVZInvesco6:00 AM
KALUKaiser Aluminum4:00 PM
KNLKnoll4:00 PM
KNXKnight-Swift8:00 AM
KRAKraton4:00 PM
KRCKilroy Realty4:00 PM
LADLithia Motors8:00 AM
LBCLuther Burbank4:00 PM
LLYEli Lilly8:00 AM
LMATLeMaitre Vascular4:00 PM
LOBLive Oak Bancshares4:00 PM
LRCXLam Research5:00 PM
LSTRLandstar System4:00 PM
LVSLas Vegas Sands4:00 PM
MHOM/I Homes8:00 AM
MKSIMKS Instruments4:00 PM
MKTXMarketAxess Holdings8:00 AM
MMLPMartin Midstream Partners4:00 PM
MORNMorningstar4:00 PM
MPXMarine Products8:00 AM
MSAMSA Safety4:00 PM
MSFTMicrosoft4:00 PM
MXMagnaChip Semiconductor4:00 PM
NDAQNasdaq7:00 AM
NEUNewMarket4:00 PM
NGVTIngevity4:00 PM
NHYDYNorsk Hydro8:00 AM
NJDCYNidec8:00 AM
NOWServiceNow4:00 PM
NSCNorfolk Southern8:00 AM
NTGRNetgear4:00 PM
NTRSNorthern Trust8:00 AM
NVZMYNovozymes3:00 AM
NXGNNextGen Healthcare4:00 PM
OBNKOrigin Bancorp4:00 PM
OCOwens-Corning7:00 AM
ORLYO'Reilly Automotive4:00 PM
OSBCOld Second Bancorp5:00 PM
PBProsperity Bancshares8:00 AM
PCSBPCSB Financial8:00 AM
PFBIPremier Financial Bancorp8:00 AM
PKGPackaging Corp of America4:00 PM
PLXSPlexus4:00 PM
PNRPentair8:00 AM
PUBPeople's Utah Bancorp4:00 PM
PYPLPayPal Holdings4:00 PM
QCRHQCR Holdings4:00 PM
QEPQEP Resources4:00 PM
RCIRogers Communications8:00 AM
RCKYRocky Brands4:00 PM
RHIRobert Half International4:00 PM
RIGLRigel Pharmaceuticals8:00 AM
RJFRaymond James Financial4:00 PM
ROLRollins8:00 AM
RRCRange Resources4:00 PM
RUSHARush Enterprises4:00 PM
RUSHBRush Enterprises4:00 PM
SALTScorpio Bulkers8:00 AM
SAVESpirit Airlines, Inc.4:00 PM
SCLStepan7:00 AM
SEICSEI Investments4:00 PM
SGCSuperior Group8:00 AM
SLABSilicon Laboratories, Inc.8:00 AM
SLGNSilgan Holdings8:00 AM
SMEDSharps Compliance8:00 AM
SPOKSpok Holdings4:00 PM
STLSterling Bancorp4:00 PM
SUISun Communities4:00 PM
SVNLYSvenska Handelsbanken8:00 AM
SWDBYSwedbank8:00 AM
TDYTeledyne Technologies8:00 AM
TELNYTelenor7:00 AM
TIGOMillicom Intl Cellular4:00 PM
TMOThermo Fisher Scientific8:00 AM
TRNTrinity Industries4:00 PM
TSLATesla4:00 PM
TZOOTravelzoo8:00 AM
UANCVR Partners4:00 PM
UFPIUniversal Forest Products5:00 PM
UNFUniFirst8:00 AM
USAPUniversal Stainless8:00 AM
UVSPUnivest Financial4:00 PM
VARVarian Medical Systems4:00 PM
VMIValmont Industries4:00 PM
VNEVeoneer8:00 AM
WGOWinnebago Industries7:00 AM
WMWaste Management8:00 AM
WPGWashington Prime Group4:00 PM
WSBCWesbanco4:00 PM
XLNXXilinx4:00 PM
Today's Economic Events
Event NamePeriodYearTime
OPEC Meeting  6:00 AM
MBA Mortgage Applications (WoW)Oct 1820197:00 AM
MBA Purchase Index 20197:00 AM
MBA Mortgage Market Index 20197:00 AM
MBA Mortgage Refinance Index 20197:00 AM
MBA 30-Year Mortgage Rate 20197:00 AM
FHFA House Price Index (MoM)Aug20199:00 AM
FHFA House Price Index (YoY)Aug20199:00 AM
FHFA House Price Index - SAAug20199:00 AM
EIA Cushing Inventories 201910:30 AM
EIA Gasoline Output/Production 201910:30 AM
EIA Heating Oil Inventories 201910:30 AM
EIA Weekly Refinery Utilization Rates (WoW) 201910:30 AM
EIA Gasoline Inventories 201910:30 AM
EIA Distillate Inventories 201910:30 AM
EIA Distillate Output 201910:30 AM
EIA Refinery Crude Runs (WoW) 201910:30 AM
EIA Crude Imports 201910:30 AM
EIA Crude Oil InventoriesOct 18201910:30 AM
5-Year Note Auction 20191:00 PM
Federal Budget Balance 20191:00 PM
Movers & Shakers - "14 Stocks Moving in Wednesday's Pre-Market Session"


    Nano Dimension ADR (NASDAQ: NNDM) shares rose 43.90% to $4.13 in pre-market trading after the company announced that it had achieved a major milestone of selling over 50 DragonFly systems worldwide since the launch of the product’s commercial sales in the fourth quarter of 2017. Stage Stores Inc (NYSE: SSI) shares rose 16.07% to $2.60 in pre-market trading on Wednesday. PDL BioPharma, Inc. (NASDAQ: PDLI) shares rose 7.26% to $2.66 in pre-market trading. Teekay Tankers Ltd. (NYSE: TNK) shares rose 7.07% to $2.12 in pre-market trading, rising for the second consecutive day, after Russia-based Novatek announced a joint venture. BioNTech SE - ADR (NASDAQ: BNTX) shares rose 6.83% to $22.05 in pre-market trading. Teradyne, Inc. (NASDAQ: TER) shares rose 6.17% to $62.80 in pre-market trading, after the company reported better-than-expected results for the third quarter, while raising its guidance for the fourth quarter. Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) shares rose 4.75% to $104 in pre-market trading, after the company reported EPS of $2.79 on revenue of $1.26 billion for the third quarter, ahead of the consensus and the results for the same quarter in the previous year. Invesco Ltd. (NYSE: IVZ) shares rose 4.62% to $16.77 in pre-market trading, after the company reported results for the third quarter, ended September 30, 2019.

Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

Check out these big penny stock gainers and losers


    Resideo Technologies, Inc. (NYSE: REZI) shares fell 39.59% to $9.20 in pre-market trading, after the company announced its preliminary third quarter results and revised its full year 2019 guidance. iRobot Corporation (NASDAQ: IRBT) shares fell 18.56% to $44 in pre-market trading, after the company announced better than anticipated earnings and revenue results for the third quarter but lowered its fourth quarter guidance. Cadence Bancorp (NYSE: CADE) shares fell 10.96% to $16 in pre-market trading, after the company reported lower than expected third quarter earnings of $0.34. Texas Instruments Incorporated (NASDAQ: TXN) shares fell 8.60% to $117.51 in pre-market trading, after the company’s third quarter earnings and fourth quarter guidance missed the consensus expectations. ServiceNow, Inc. (NYSE: NOW) shares fell 7.92% to $210.25 in pre-market trading, following the sudden departure of the company’s CEO, John Donahoe. MacroGenics Inc (NASDAQ: MGNX) shares fell 7.89% to $10.16 in pre-market trading, after the company announced the second interim overall survival data from its Phase 3 SOPHIA Study of Margetuximab in patients with HER2-Positive metastatic breast cancer.