Joined Dec 4, 2012
319 Blog Posts

Morning Briefing Trumps Meets With Auto Execs $F $GM $FCAU

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck none of note.

In After Hours Trading: JJSF +.09 MRCY +.05 RMD +.03 YHOO +.04 ZION +.08.

Lower Guidance: .

Mixed Guidance: MRCY .

Positive Guidance: IBM AXP.

What’s Happening This Morning

U.S. futures: S&P -0.50, Dow Jones +4, NDX +3.50 and Russell 2000 +0.10. Asia higher ex Japan and Europe higher.

Copper, silver and gold mixed. 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 2.43% yield, one month change +3 and +38 one year change. Prices as of 7:45 a.m. EDT.


Top Sectors Technology and Consumer Goods.

Weak Sectors Industrial Goods. Healthcare and Utilities.

One month winners All ex COnglomerates.

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): TXN CNI SYK COF DFS ISRG CA STX TSS STLD AA LOGI CREE.

Due Wednesday morning (by avg. trade volume descending): NVS BA UTX ABT ITW NSC STT PGR APH FCX ROK HES GWW TXT among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: Futures Treasury Secretary Steve Mnuchin warned of too strong a dollar and the pullback from TPP adds to recent weakness. Talk begins about the balance sheet of the Federal Reserve. Hedge fund assets passed $3 trillion dollars. Bitcoin trading falls in China after fees raised.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BABA +.17 ATI +.08 GLW +.06 DHI +.07 DD +.09 FITB +.04 IIVI +.23 JNJ +.02 KMB +.04 LMT +.21 PHG +.05 PII -.20 SAP +.11 TRV +.39 VZ -.03 WAR +.08.

Missing: .

Lower Guidance: JNJ DD.

Current Morning missing: .

Mixed Guidance: LMT PII.

Positive Guidance: SAP IIVI BABA.

Data Points

Yesterday saw 1591 stocks rise and 1328 fall on the NYSE. NASDAQ saw 1173 rise and 1668 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 Existing Home Sales are due out at 10:00 a.m. EST and are expected to fall to 5.50 million from 5.61 million.


President Trump meets with the leaders of Ford (F), General Motors (GM) and Fiat Chrysler (FCAU) this morning for breakfast.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, SFNC.

Conference of Note

Society of Petroleum Engineers Hydraulic Fracturing Technology Conference.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs FTI
Morgan Stanley
Deutsche Bank
Citigroup OMAB
Merrill Lynch TV DATA ALSN
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Key Banc
Sanford Bernstein
Raymond James KBH
Friedman Billings
Stifel HRC
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