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Daily Playbook: Light Economic Day Ahead & Lacker Speaks 1:30 p.m. EST

January 8, 2013

In After Hours Trading

TEAM (+.06). SHLD CEO to leave due to family health issues and SHLD Chairman Lampert to become CEO as well. CAG INN announce secondary offering. YUM lowers China guidance, again. KND PLXS lower guidance.

What’s Happening This Morning

US futures: (S&P +1, DJI +2, NDX +0.2 with fair value a bit higher) Asia lower and Europe higher. Copper and gold higher with WTI Crude & Brent Oil Futures higher. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US ten-year Treasury Yield +.0078. Prices as of 7:35 a.m. EST.

Earnings Expected

Earnings due after the close AA APOL GPN MG WDFC. Due out tomorrow morning AZZ GBX HELE LEDS SJR STZ.

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

IHS (+.10) LNN (+.40).

Data Points

Yesterday saw 1372 stocks rise and 1635 fall on the NYSE. NASDAQ saw 1066 rise and 1436 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.



A minor release today. Consumer Credit is out at 3:00 p.m. EST.


Federal Reserve Richmond President Lacker speaks at 1:30 p.m. EST.

Conference & Analyst Meetings

JP Morgan Healthcare Conference, Citibank Global Internet, Media and Telecom Conference, Goldman Sachs Global Energy Conference and RBC Canadian Bank CEO Conference.

Conference of Note

Consumer Electronics Show (CES) continues today in Las Vegas.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
Goldman Sachs KKR HITT
Morgan Stanley AZO ROK
Deutsche Bank
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Merrill Lynch MFC MKSI pky
Jefferies EQR HIW
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