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.
Economics
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.
Politico
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 | ||
| Goldman Sachs | MBLY PNRA HGV | TGT BLMN GNC RCL HST |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | BAM | AKS VSI |
