Joined Dec 4, 2012
319 Blog Posts

Daily Playbook: Futures Start The Week On A Positive Note

December 17, 2012

In After Hours Trading

President Obama in a Sunday night speech called for action on gun control. Citigroup downgraded Apple from Buy to Neutral.

What’s Happening This Morning

US futures: (S&P +2.50, DJI +11, NDX -3.20 with fair value lower) Asia mixed and Europe lower. Copper and gold lower with WTI Crude Futures lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0147. Prices as of 7:55 a.m. EST.

Earnings Expected

Earnings due after the close SHFL STEI. Due tomorrow morning before the open FDS JEF SAFM.

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

No earnings due this morning.

Data Points

Yesterday saw 1374 stocks rise and 1601 fall on the NYSE. NASDAQ saw 1195 rise and 1239 fall. The S&P 500 now back below its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is now positive again, barely, and we remain with the buy signal but a turn may be forthcoming. We are back to invested on the Madison Market Timing Indicator.



Due out this week housing starts, Q3 GDP, existing home sales, leading indicators, personal income and Michigan Confidence.


The horse trading over the fiscal cliff continues between House Speaker Boehner and President Obama. ECB President Mario Draghi testifies before the European Parliament about economic and monetary affairs. Richmond Federal Reserve President Lacker speaks.

Conference & Analyst Meetings

Analyst Meetings UNM GE.

Conference of Note

None of note.

M & A News

CLWR to be acquired by S for $2.97.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup SPG SKT
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Merrill Lynch CPHD
Dahlman Rose LCC UAL DAL LUV
If you enjoy the content at iBankCoin, please follow us on Twitter