Joined Dec 4, 2012
319 Blog Posts

Daily Playbook Couple Fed Speakers Around Lunchtime & Bernanke At The Close

January 14, 2013

In After Hours Trading

ORCL submits a secruity patch to Java. Apple slows component orders for iPhone 5. JPM may blame CEO Dimon on the “Whale” trading error.

What’s Happening This Morning

US futures: (S&P -2, DJI -20, NDX -16.80 with fair value lower) Asia and Europe higher. Copper and gold lower with WTI Crude & Brent Oil Futures higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield -.0317. Prices as of 7:55 a.m. EST.

Earnings Expected

None of note due after the close. Due tomorrow morning CBSH FRX LEN.

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

LEDS (-.02).

Data Points

Friday saw 1562 stocks rise and 1434 fall on the NYSE. NASDAQ saw 1226 rise and 1222 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.



Releases of note this week include weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims along with monthly numbers for PPI, CPI , retail sales, industrial production, housing starts and Michigan Sentiment. None of note today.


Federal Reserve Chairman Bernanke speaks at 4:00 p.m. EST about monetary policy. Federal Reserve San Francisco President Williams (11:55 a.m. EST) and Atlanta President Lockhart (12:40 p.m. EST) speak as well.

Conference & Analyst Meetings

TD Securities London Energy Conference, UBS Greater China Conference, Raymond James Internet Outlook and Deutsche Bank China Conference. Analyst meetings RTEC ACU.

Conference of Note

The North American Auto Show begins in Detroit. National Retail Federation Annual Convention.

M & A News

Swatch buys HWD for $1 billion, $750 million in cash and $250 million of debt assumption.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs COF CVD CTCM
Morgan Stanley
Deutsche Bank FB NSC
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Merrill Lynch
Raymond James MDRX
Dahlman Rose
Sterne Agee
Stifel Nicolaus
Societe Generale ECA
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