In After Hours Trading
IPOS to be priced this week include Cancer Genetics and Independent Bank Group. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +0.75, Dow Jones +14, NDX +4.50 with fair value a bit higher, futures were lower earlier in the morning so an improvement to the pre-market session) Asia lower and Europe higher. Copper and gold lower with WTI Crude and Brent Oil Futures higher. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury Yield +0.0259. Prices as of 7:40 a.m. EST.
Earnings Expected
Reports due after the close VECO SCVL MBND. Due tomorrow morning MKC HNR.
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
CALM (+.01) OXF (-.16).
Data Points
Yesterday saw 1904 stocks rise and 1090 fall on the NYSE. NASDAQ saw 1373 rise and 1079 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is back to positive. We moved to cash on the Madison Market Timing Indicator on February 22nd which can be found on www.superstockinvestor.com.
Economics
February Construction Spending is due out at 10:00 a.m. EDT and is expected to improve to 1.0% from -2.1%. At the same time, March ISM Manufacturing is due out and expected to drop to 54% from 54.2%.
The Reserve Bank of Australia (RBA) will announce its latest rate decision at 10:30 p.m. EDT.
Politico
The House and Senate are on break this week.
Conference & Analyst Meetings
Analyst meetings none of note. Announcement due from . New York International Auto Shows runs through Sunday. Geosynthetics Conference is held in Long Beach, California.
Conference of Note
New York International Auto Shows runs through Sunday.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | TAP | CCE |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | APAM | |
| Merrill Lynch | MAC |
