In After Hours Trading
ACC (+.05) BWLD (+.05) CMCSA(+.03) RAX (-.01) (+.04) SGEN (+.01) WU (+.07) WSH (+.02).
What’s Happening This Morning
US futures: (S&P +3.25, Dow Jones +22, NDX +8.50 with fair value lower) Japan lower and China closed through Thursday other Asian countires higher, Europe higher ex FTSE. Copper higher and gold lower with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0344. Prices as of 7:45 a.m. EST.
Earnings Expected
Due after the close CSCO MDLZ MET EOG CTL WFM LBTYA AMAT PXD NTAP EQIX and tomorrow morning ABB GM APA ABX DTV DISCA CVE PPL ALXN REGN ECA DVA.
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
AVEO(+.16) BLKB (+.03) DE (+.25) HSIC (+.06) H (+.09) LO (+.03) WFR (+.08) SON (+.02)
Data Points
Yesterday saw 1931 stocks rise and 1048 fall on the NYSE. NASDAQ saw 1513 rise and 948 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 are closed in China through Thursday.
Economics
January Retail Sales are due out at 8:30 a.m. EST and are expected to come in at 0.1% against 0.5%. Crude Inventories are due out at 10:30 a.m. EST.
Politico
Rhetoric over the March Sequester will now pick up speed post the State Of The Union Address. Federal Reserve St. Louis President Bullard speaks at 11:00 a.m. EST.
Conference & Analyst Meetings
Analyst meetings JDSU WAG CBR YUM. Credit Suisse Financial Conference, Goldman Sachs Technology & Internet Conference, Stifel Nicolaus Transportation & Logistics Conference, Pacific Crest Emerging Technology Summit,Bank of America Insurance Conference, Leerink Swan Global Healthcare Conference and the Molecular Medicine Tri-Conference 2013.
Conference of Note
YUM to hold a major announcement at 11:00 a.m. EST.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | MOH | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Barclays | ||
| Jefferies | UTIW | |
| Raymond James | CLWR | |
| KeyBanc | ||
| Cantor Fitzgerald | ||
| Credit Agricole | ||
| Dahlman Rose | ||
| Keefe Bruyette | ||
| Friedman Billings | FOSL |
