Joined Dec 4, 2012
319 Blog Posts

Morning Briefing: Futures Up Modestly

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck ATW CIO CSFL FMBI WMB.

In After Hours Trading: CUDA +.08 SHLM +.04 APOL -.05 WDFC -.05.

Lower Guidance: .

Mixed Guidance: CUDA.

Positive Guidance: .

What’s Happening This Morning

U.S. futures: S&P +0.25, Dow Jones -6, NDX +2.75 and Russell 2000 +1.50. Asia mixed and Europe higher.

Copper higher with silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.38% yield, one month change -8 and +27 one year change. Prices as of 7:55 a.m. EDT.


Top Sectors Healthcare.

Weak Sectors Utilities and Conglomerates led the way down.

One month winners All.

Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All.

Earnings Expected

Earnings due after the close (by avg. trade volume): LMNR SNX.

Due Monday morning (by avg. trade volume descending): SVU MSM.

Rags & Mags: Inside Wall Street

Bloomberg: Dollar pulling back ahead of Trump news conference tomorrow. British Pound continues to fall while the FTSE rises. Yahoo (YHOO) CEO Marissa Mayer will leave the company after Verizon (VZ) sale closes. President Elect Trump appoints his son in law Jared Kushner as a senior White House adviser.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1073 stocks rise and 1887 fall on the NYSE. NASDAQ saw 1164 rise and 1685 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of November 15th. The Madison Market Timing Indicator is now invested since November 18th.

YTD 4066 stocks rose for 2016 and 2259 fell. Updated 12/30/16 close.


The November JOLTS Job Openings is due out at 10:00 a.m.

Overnight China reported Producer Prices surged 5.5% last year.


Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, PTLA LGFA LGFB AMAG. JP Morgan Healthcare Conference. Needham Annual Growth Conference.

Conference of Note

North American Auto Show in Detroit. The 19th Annual ICR Conference. Precision Genome Engineering Conference.

M & A News

Valeant (VRX) sells assets to L’Oreal for just over $1.3 billion. Also, will sell Dendreon for $819.9 million.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs ETFC XRX VOD GHL
Morgan Stanley
Deutsche Bank
Merrill Lynch ALK ILMN
Wachovia/Wells Fargo
Credit Suisse DISCA
Banc of America
Key Banc
Sanford Bernstein
Jefferies WRLD
Raymond James
Societe Generale
Friedman Billings
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