Joined Dec 4, 2012
319 Blog Posts

Morning Briefing: ECB Press Conference Ahead & Goldman ($GS) Goes Crazy With Recos This Morning

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck APFH APO HRTX TDOC VNOM ZYNE.

In After Hours Trading: CLC +.04 KMI -.10 NFLX +.02 PLXS +.05 WTFC +.04.

Lower Guidance: .

Mixed Guidance: PLXS.

Positive Guidance: NFLX.

What’s Happening This Morning

U.S. futures: S&P -2.00, Dow Jones -17, NDX -3.75 and Russell 2000 -2.20. Asia mixed and Europe slightly lower.

Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.44% yield, one month change -10 and +39 one year change. Prices as of 7:55 a.m. EDT.

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): AXP IBM SWKS.

Due Friday morning (by avg. trade volume descending): GE KSU PG RF COL SLB STI.

Rags & Mags: Inside Wall Street

Bloomberg: Federal Reserve Chairman Yellen sees continued improvement to the economy. Bond Guru says to go long, he called the last bear market 40 years ago. OPEC sees production cut sticking so far. 2016 was the hottest year on record.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CHKP +.21 KEY +.02 MTG +.06 TAL +.04 WNS +.07.

Missing: .

Lower Guidance: WNS.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1569 stocks rise and 1354 fall on the NYSE. NASDAQ saw 1603 rise and 1247 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.


December Housing Starts are due out at 8:30 a.m. EST and are expected to rise to 1,180,000 from 1,090,000.

Tonight sees China GDP, Industrial Production and Retail Sales. The triple threat. Due out at 9:00 p.m. EST.


The European Central Bank (ECB) is out with its latest interest rate announcement at 7:45 a.m. EST and no change and will hold a press conference with ECB Head Mario Draghi at 8:30 a.m. EST.

Federal Reserve Chairman Janet Yellen speaks from San Francisco again this time at the Stanford Institute for Economic Policy Research at 8:00 p.m. EST.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, SKLN PKY LQ PAY MNK.

Conference of Note

Canadian Power Finance Conference

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Morgan Stanley
Deutsche Bank
Citigroup BAM AKS VSI
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