December 20, 2012
In After Hours Trading
ACN (+.02), BBBY (+.01), MLHR (-.04), JBL (+.05), SCS (+.01).
What’s Happening This Morning
US futures: (S&P +1.250, DJI +8, NDX +4.80 with fair value lower) Asia and Europe higher. Copper and gold higher with WTI Crude Futures higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.019. Prices as of 7:45 a.m. EST.
Earnings Expected
Earnings due after the close NKE RHT RIMM MU CTAS TIBX RECN FCEL. Due tomorrow morning before the open WAG SHAW PNY.
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
AAM (-.51), DRI (-.01), KBH (+.04), RAD (+.09), SCHL (-.16).
Data Points
Yesterday saw 1504 stocks rise and 1518 fall on the NYSE. NASDAQ saw 1236 rise and 1211 fall. The S&P 500 now back above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is positive. We are back to invested on the Madison Market Timing Indicator.
Economics
Q3 GDP is due out at 8:30 a.m. EST and is expected to rise to 2,8% from 2.7%. Then at 10:00 a.m. EST, November Existing Home Sales are due out and are expected to rise to 4.90 million from 4.79 million and November Leading Indicators are expected to fall to -0.2% from 0.2%.
Politico
House expected to vote on Boehner’s Plan B.
Conference & Analyst Meetings
None of note.
Conference of Note
None of note.
M & A News
ICE may bid for NYX at $33 a share.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | SLGN | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | MTZ | |
| Barclays | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Merrill Lynch | ||
| Jefferies | LXP |
