In After Hours Trading
JBHT (-.03).
Several IPOs are due Evertec and Rally Software are due today and CSTE CHUY CACC CUI DRTX LTD will price secondary offerings. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P -5.00, Dow Jones -38, NDX -11.80 with fair value a bit higher, which will hurt the opening slightly) Asia lower and Europe lower. Copper and gold lower with WTI Crude and Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury Yield -0.047. Prices as of 7:55 a.m. EST.
Earnings Expected
No earnings due after the close. Enjoy the weekend its Miller Time.
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
JPM (+.20) WFC (+.09).
Data Points
Yesterday saw 1849 stocks rise and 1160 fall on the NYSE. NASDAQ saw 1188 rise and 1236 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The Russell 2000 broke back above its 50 day moving average on Monday. The 10 day spread moving average of breadth is positive. We moved to cash on the Madison Market Timing Indicator on February 22nd which can be found on www.superstockinvestor.com.
Economics
March PPI and retail sales are due out at 8:30 a.m. EDT and are expected to drop to -0.2% from 0.7% and 0% from 1.1%. Then at 9:55 a.m. EDT April Michigan Sentiment is due and is expected to rise to 78.8 fro 78.6.
Politico
EU Finance Ministers meet in Dublin, Ireland with Cyprus as the lead topic.
Federal Reserve Boston President Rosengren speaks before the market opens. Federal Reserve Chairman Bernanke speaks at 12:30 p.m. EDT.
Conference & Analyst Meetings
Analyst meetings IMGN.
Conference of Note
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | BAESY | |
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | MPW | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Raymond James | ||
| Societe Generale | ||
| Jefferies | ||
| KeyBanc Capital | ||
| Sun Trust Robinson Humphrey | KRA | |
| Raymond James | PL | |
| Credit Agricole | ||
| Dahlman Rose | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | NMRX |
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