January 22, 2013
In After Hours Trading
President Obama now enters his second term post inauguaration festivities.
What’s Happening This Morning
US futures: (S&P +0.50, DJI +2, NDX +8 with fair value higher) Asia mixed and Europe lower. Copper and gold higher with WTI Crude lower & Brent Oil Futures higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield +.026. Prices as of 7:40 a.m. EST.
Due after the close GOOG IBM TXN CSX NSC ISRG CA ALB RKT and due tomorrow morning NVS MCD SAP UTX ABT PX GD BHI WLP APO COH MSI TELTXT MOLX.
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
CRBC (-.06), DD (+.02), FMER (+.02), IIVI (-.02), PKG (-.01), RF (+.01), SNV (+.90), AMTD (+.02), TRV (+.60), VZ (-.13).
Friday saw 1920 stocks rise and 1049 fall on the NYSE. NASDAQ saw 1300 rise and 1130 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.
December Existing Home Sales are due out at 10:00 a.m. EST and are expected to improve to 5,100,000 from 5,040,000. World Economic Forum from Davos starts tomorrow.
Israel holds national elections. Houze GOP to set up vote tomorrow on debt ceiling extension. ECB Head Mario Draghi speaks at 1:00 p.m. EST.
Conference & Analyst Meetings
None of note that are importance. Several minor level conferences.
Conference of Note
M & A News
Key Upgrades and Downgrades
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