January 7, 2013
In After Hours Trading
Democrats and Republicans on weekend talk shows reverted back to prior stances on taxes and spending pre the cliff agreement.
What’s Happening This Morning
US futures: (S&P -1.75, DJI -14, NDX -3.0 with fair value higher) Asia mixed and Europe lower. Copper lower and gold higher with WTI Crude & Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US ten-year Treasury Yield +.0123. Prices as of 7:55 a.m. EST.
TEAM earnings due after the close. Due out tomorrow morning MON IHS RPM AYI LNN SCHN.
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
Yesterday saw 2307 stocks rise and 699 fall on the NYSE. NASDAQ saw 1565 rise and 823 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.
This is a very light week in terms of economic releases. We do not consider any of this week’s releases to be major releases.
President Obama is now back from the sun of Hawaii and the debate on the debt ceiling now kicks into gear.
Conference & Analyst Meetings
JP Morgan Healthcare Conference, Citibank Global Internet, Media and Telecom Conference and Macquarie Oil & Gas Explorers Conference.
Conference of Note
Consumer Electronics Show (CES) kicks off today in Las Vegas.
M & A News
Key Upgrades and Downgrades
|Banc of America|
|Robert W. Baird|