In After Hours Trading
IPOs due ADMA Biologics and DoubleLine Income Solutions Fund. Secondary offerings none of note MICT. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +6.25, Dow Jones +45, NDX +14 with fair values higher which will cut into the open) Asia higher ex Shanghai and Europe higher. Copper lower and gold higher with WTI Crude and Brent Oil Futures higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury Yield +0.0179. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings due after the close CNI TXN ACE AMP NFLX ILMN STM NXPI ZION PKG IEX ALSN HMA RCII SWFT USTR VECO SANM XOOM PLXT among others. Due tomorrow morning of note DD TRV LMT ITW RAI JCI DFS ARMH APD PCAR IR COH ECA DAL RF XRX FRX WAT PII MOLX GCI.
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
BOH (-.07) BEAV (+.07) CAT (-.07) HAL (+.10) PHG (-.09).
Data Points
Yesterday saw 2178 stocks rise and 812 fall on the NYSE. NASDAQ saw 1624 risee and 700 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The Russell 2000 remains below its 50 day moving average. The 10 day spread moving average of breadth is now negative but above -200. We moved to cash on the Madison Market Timing Indicator on February 22nd which can be found on www.superstockinvestor.com.
Economics
Releases of note this week include weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims along with existing home sales, new home sales, durable goods and Q1 GDP as well as Michigan Sentiment.
March Existing Home Sales are released at 10:00 a.m. EDT and are expected to be revised upward to 5.01 million from 4.98 million.
TONIGHT AFTER THE CLOSE CHINA MONTLY PMI DATA. THIS COULD BE A MARKET MOVER FRO TUESDAY.
Politico
Federal Reserve New York President Dudley speaks before the open.
Conference & Analyst Meetings
Analyst meetings CYS. International Society For Cell Therapy Conference.
Conference of Note
M & A News
ABB to buy PWER for $6.35 a share which is tiny premium.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | CNDO | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Raymond James | ||
| Societe Generale | ERIC |
Indeud.