In After Hours Trading
IPOs on deck none of note. Secondaries On Deck ETRM EVBN.
In After Hours Trading: ADTN +.07 IBKR -.26 UAL +.05.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P +2.00, Dow Jones +15, NDX +7.75 and Russell 2000 +3.20. Asia and Europe higher.
Copper, silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.36% yield, one month change -23 and +33 one year change. Prices as of 7:55 a.m. EDT.
5
Top Sectors Utilities and Consumer Goods.
Weak Sectors Conglomerates led the way down with Industrials and Financials.
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): CNS FNB KMI NFLX SLM.
Due Thursday morning (by avg. trade volume descending): BK JBHT KEY PPG UNP .
Rags & Mags: Inside Wall Street
Bloomberg:
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ASML +.26 FAST +.02 GS +.28 USB +.01.
Missing: SCHW C CBSH.
Lower Guidance: TSM.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1339 stocks rise and 1630 fall on the NYSE. NASDAQ saw 844 rise and 2041 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
December CPI is released at 8:30 a.m. EST and is expected to rise to 0.3% from 0.2%.
December Industrial Production is due out at 9:15 a.m. EST and is expected to rise to 0.6% from -0.4%.
The Federal Reserve Beige Book is released at 2:00 p.m. EST.
Politico
Federal Reserve Chairman Janet Yellen speaks from San Francisco on monetary policy at the Commonwealth Club at 3:00 p.m. EST.
Federal Reserve Minneapolis President Neel Kashkari will speak at 10:00 a.m. EST.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, MSTR IMMU ASNA. TD Securities Mining Conference.
Conference of Note
Airline Economics Growth Frontiers
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | JCP KSS | |
| Banc of America | ||
| UBS | ||
| Key Banc | ||
| Sanford Bernstein | ||
| Jefferies | ||
| Nomura | ||
| Needham | ||
| Raymond James | ||
| Buckingham | DECK | |
| Friedman Billings | ||
| Guggenheim | AZO |
good news:
“.., silver and gold lower. ”
My favorite commodities are on sale. I love bargains.