In After Hours Trading
IPOs on deck none of note. Secondaries On Deck BRG MRDN PE PFGC.
In After Hours Trading: SNX +.48.
Lower Guidance: LMNR.
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P -2.25, Dow Jones -1, NDX +0.25 and Russell 2000 -1.70. Asia higher ex China and Europe mixed.
Copper lower with silver lower and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.37% yield, one month change -10 and +20 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors most higher led by Services and Healthcare.
Weak Sectors Utilities, Consumer Goods 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): KBH.
Due tomorrow morning (by avg. trade volume descending): DAL FCEL SJR TSM.
Rags & Mags: Inside Wall Street
Bloomberg: Oil looks to be holding above $50. Bond gurus Bill Gross noted a yield of 2.6% on the 10 year would end the Bond Bull market and Jeff Gundlach said a yield of 3.0% would kill the stock market rally. President Elect Trump denies any compromising information about him.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): MSM +.02 SVU -.09.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1867 stocks rise and 1054 fall on the NYSE. NASDAQ saw 1861 rise and 979 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.
Economics Weekly
Mortgage Index rose 5.8% week over week.
Weekly Crude Inventories are due out at 10:30 a.m. EST.
Politico
Federal Reserve New York President William Dudley speaks at 1:30 p.m. EST.
News Conference with President Elect Trump this morning.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, SIG TINY IDRA CRM. 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
Key Upgrades and Downgrades
Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup Upgrades NE ESV CAG DowngradesDUK
Merrill Lynch Upgrades VRTC
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Key Banc
Sanford Bernstein
Jefferies
Nomura
Needham
Raymond James Upgrades WPZ WRD
