January 11, 2013
In After Hours Trading
SNX (+.12), XRTX (+.08). BBY announced same stores sales and they were weak,down 1% year over year.
What’s Happening This Morning
US futures: (S&P UNCH, DJI -7, NDX +0.50 with fair value a bit lower) Asia mixed and Europe higher. Copper and gold lower with WTI Crude & Brent Oil Futures lower. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield -.0087. Prices as of 7:55 a.m. EST.
Earnings Expected
Due of note next week PPG LEN ADTN LLTC BK GS EBAY FUL MS INTC GE STT. Next week is mostly about FINANCIALS.
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
WFC
Data Points
Yesterday saw 1931 stocks rise and 1043 fall on the NYSE. NASDAQ saw 1438 rise and 1035 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
Latest USDA Crop Report due out at 8:30 a.m. EST.
Politico
Federal Reserve Philadelphia President Charles Plosser speaks at 9:30 a.m. EST.
Conference & Analyst Meetings
Goldman Sachs Global Energy Conference and Merrill Lynch China Gaming & Lodging. PGH holds its analyst meeting.
Conference of Note
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | SPF WSO MMM | |
| Goldman Sachs | GIS PRGO | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Barclays | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Merrill Lynch | THC BKD CYH OC MAS DHI TOL | |
| Jefferies | ||
| Cantor Fitzgerlad | ||
| Dahlman Rose | ||
| Sterne Agee | ||
| Stifel Nicolaus | ||
| Societe Generale | NOK |
