Below is a format we have created that keeps us focused on what will influence the open AND what could be catalysts for the trading day.
In After Hours Trading
AVAV (+.17), ASYS (-.88), MFRM (+.01), MIND (-.27), P (+.04), PLAB (+.03), POWL (+.34), SEAC (+.03).
What’s Happening This Morning
US futures: (S&P +4.80, DJI +51, NDX +4.50 with fair value flat) Asia and Europe higher. Copper and gold higher with WTI Crude Futures higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0043. Prices as of 7:55 a.m. EDT.
Earnings Expected
PBY CWST due after the close. Due Tuesday morning before the open BMO AZO TOL MTN BIG.
Rags & Mags: Inside Wall Street
We are big fans of www.247wallst.com summary of the newspapers each day. Going forward we will link to their website so you can read their summary, Media Digest
Reported Earnings This Morning
BFB ( ), FRAN (+.02), GIII (+.09 ), TTC ( ).
Data Points
Yesterday saw 1440 stocks rise and 1526 fall on the NYSE. NASDAQ saw 1165 rise and 1294 fall. The S&P 500 is still below its 50 day moving average but back above the 200 day moving average. The 10 day spread moving average of breadth is positive and is now back to a buy signal. We are back to invested on the Madison Market Timing Indicator.
Economics
ADP releases its November Jobs Numbers pre-market. October Factory Orders are due out at 10:00 a.m. EST and are expected to drop to 0% from 4.8%.
Politico
President Obama speaks to the Business Roundtable. The House Financial Services Committee reviews Dodd-Frank legislation.
Conference & Analyst Meetings
Analyst Meetings SBUX TYPE AEG CP LOW ACW ARG DOX. Conferences of note Wells Fargo MLP & Energy Conference, Goldman Sachs Financial Services Conference and NASDAQ/OMX Morgan Stanley Investor Conference.
Conference of Note
Qualcomm (QCOM) 3G/LTE Summit.
M & A News
Nothing of note.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | WM | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ADTN | |
| Barclays | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Merrill Lynch | ||
| Jefferies | ||
| Oppenheimer | ||
| RBC | ||
| Bernstein | ||
| Stifel Nicolaus | ||
| CLSA | ||
| Keefe Bruyette | ||
| Friedman Billings | PNC | |
| Baird | ||
| Needham | ||
| Cowen | ||
| PiperJaffray | ||
| Thomas Weisel | ||
| RBS | ||
| Raymond James | INTC |
