Joined Dec 4, 2012
319 Blog Posts

Morning Briefing Dow 20,000 Today? Bears Back To Hibernation $SPY $DIA

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck FWONK MIK MRDN NEWT PTEN SMBK SND.

In After Hours Trading: AA -.10 CA +.02 CNI +.02 COF -.14 CREE +.07 ISRG +.10 LOGI +.12 STX +.24 TXN +.09 UMBF +.06.

Lower Guidance: CA.

Mixed Guidance: CREE TXN TSS.

Positive Guidance: .

What’s Happening This Morning

U.S. futures: S&P +8.25, Dow Jones +80, NDX +24.75 and Russell 2000 +7.20. Asia higher and Europe higher.

Copper, silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower 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 All except Healthcare.

Weak Sectors Healthcare.

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): T QCOM LVS MCK EBAY CCI WDC VRTX LRCX XLNX CTXS NOW SLG RJF among others.

Due Thursday morning (by avg. trade volume descending): CMCSA CELG BMY DOW BIIB CAT F RTN NOC BX PX among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: German business sentiment fell which was unexpected. Overseas markets higher despite the weakness. Brexit gets more complicated. Yen can rally to 100 as Trump Rally ends.

NY Times: Mexico’s weapons to fight reversal of NAFTA. Trump injects risk to China relationship. Netflix (NFLX) and CBS try to shake up reality TV. India’s cash shortage begins to hit as poor going hungry and unemployment rising.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BA +.14 GWW +.09 HES +.07 ITW +.02 NSC +.06 ROK +.30 STT +.16 TXT -.07 .

Missing: .

Lower Guidance: JNJ DD.

Current Morning missing: .

Mixed Guidance: LMT PII.

Positive Guidance: SAP IIVI BABA.

Data Points

Yesterday saw 2190 stocks rise and 768 fall on the NYSE. NASDAQ saw 2050 rise and 804 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.


Weekly Crude Inventories due out at 10:30 a.m. EST.

Overnight China Industrial Profits due out at 8:30 p.m. EST.


President Trump deals with immigration today. See Articles That Matter.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, MENT BP BOBE PAA. CIBC Whistler Institutional Investor Conference.

Conference of Note

Society of Petroleum Engineers Hydraulic Fracturing Technology Conference.

M & A News

Cisco (CSCO) to buy privately held AppDynamics for $3.7 billion in cash.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan JBLU
Goldman Sachs LSGOF HCP
Morgan Stanley
Deutsche Bank
Citigroup AA PSXP CONE
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Key Banc
Sanford Bernstein
Raymond James SFNC
Friedman Billings
Guggenheim GOGO ENT
Stifel STAY
Robert W. Baird
Sun Trust RH
Sandler O’Neil PNFP
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