February 7, 2013

In After Hours Trading

AKAM (+.05) DRIV (+.03) EFX (+.04) GMCR (+.12) LNC (+.05) OSUR (+.03) PAA (-.06) TSO (-.07).

What’s Happening This Morning

US futures: (S&P +1, DJI +8, NDX +1.20 with fair value slightly higher) Asia lower and Europe mixed. Copper higher and gold lower with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, lower vs. Pound and flat vs. Yen. US ten-year Treasury Yield +.0217. Prices as of 8:00 a.m. EST.

Earnings Expected

Due after the close today LNKD ACTI RSG AGNC XL NUAN MCHP FLT HAS NCR SLH RVBD PRI COLM among others and due tomorrow morning AEP ETR MCO LH BPL CSL GWR SIRO CBOE LPX AOL SXT BECN among others.

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

ALU(-.58) BCE (-.01) BG(-.01) CI (+.09) FLO (+.03) IFF (-.03) SIAL (+.01) TDC (+.05) TEVA (-.01).

Data Points

Yesterday saw 1758 stocks rise and 1210 fall on the NYSE. NASDAQ saw 1334 rise and 1084 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.

Markets in Taiwan are closed today.

Economics

None of note today other than Jobless Claims due at 8:30 a.m. EST and then Matural Gas inventories at 10:30 a.m. EST.

Politico

The Bank of England held rates steady. Federal Reserve Chicago President Evans will be on CNBC at 8:00 a.m. EST. At 8:30 a.m. EST European Central Bank President Mario Draghi holds a press conference.

Conference & Analyst Meetings

Analyst meetings FUL HUM. Stifel Technology & Telecom Conference, Credit Suisse Energy Summitand the Cowen Group 34th Annual Aerospace/Defense Conference.

Conference of Note

Cowen Group 34th Annual Aerospace/Defense Conference as news on BA issues could be discussed.

M & A News

LCC and American Airlines are in final talks on a merger.

Key Upgrades and Downgrades