Joined Dec 4, 2012
319 Blog Posts

Daily P/Laybook

February 1, 2013

In After Hours Trading

AFFX (+.01) BYI (+.04) BEBE (-.05) BCR (+.03) MTW (+.03) MCK (-.21) SCCO (+.01) TLAB (+.01) WYNN (-.11).

What’s Happening This Morning

US futures: (S&P +5.25, DJI +63, NDX +12.50 with fair value higher) Asia and Europe higher. Copper and gold higher with WTI Crude lower and Brent Oil Futures higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0201. Prices as of 7:55 a.m. EST.

Earnings Expected

Earnings flood continues next week.

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

AON +.02 BEAM -.01 BPO -.01 IR +.05 LEA +.11 LM -.23 MAT -.03 MRK +.02 NOV +.05 NWL +.01 PRGO +.05 TDW +.25 TSN +.07 XOM +.21

Data Points

Yesterday saw 1556 stocks rise and 1420 fall on the NYSE. NASDAQ saw 1521 rise and 945 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.



January Nonfarm Payrolls and the Unemployment Rate are due out at 8:30 a.m. EST and is expected to rise to 160,000 from 155,000 in the last report.


Then at 10:00 a.m. EST December Construction Spending is due out and is expected to improve to 0.6% versus -0.3%.

Also, at the same time the latest ISM Manufacturing Index is due out and is expected to fall to 50.5 versus 50.7.


The President’s Jobs Council was not renewed. Federal Reserve New York President Dudley speaks at 8:30 a.m. EST.

Conference & Analyst Meetings

Analyst meetings STJ. African Mining Congress and SEMICON Korea meet.

Conference of Note

None of note.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup DB
Merrill Lynch RDS.A
Wachovia/Wells Fargo
Credit Suisse NBR
Banc of America
Jefferies IFNNY
Raymond James
KeyBanc BWLD
Janney Montgomery WYNN
Credit Agricole BCR
Societe Generale BNPQY
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