In After Hours Trading
IPOs on deck AnaptsyBio (ANAB) and ObsEva SA (OBSV). Secondaries On Deck AGI ENTL KINS KRNT SVA USFD.
In After Hours Trading: BCG +.07 CTXS +.12 FFIV +.05 LRCX +.05 LVS -.04 MAT -.19 MCK -.04 RJF +.06 URI +.37 VRTX +.06 WDC +.18 XLNX +.03.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P +0.25, Dow Jones +18, NDX +9.25 and Russell 2000 +0.20. Asia higher and Europe higher.
Copper, silver and gold lower. 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 2.54% yield, one month change +0 and +55 one year change. Prices as of 7:45 a.m. EDT.
5
Top Sectors All except for Conglomerates.
Weak Sectors Conglomerates.
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): GOOGL MSFT INTC SBIX VMW BCR KLAC MXIM EMN JNPR ETFC among others.
Due Friday morning (by avg. trade volume descending): CVX ABBV HOM CL NEE GD APD AAL BEN among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: U.K. grew om Q4 at 0.6% better than expected due to Brexit. Bond yields are back above 2.50%. Does Dow 20,000 mean time to sell?
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BIIB +.08 CAT +.16 CMCSA +.02 DOW +.11 ERIC -.26 FCAI -.05 F -.02 LLL+.29 MJN -.03 NOC +.47 OSK +.14 PHM +.08 LUV +.06 SWK +.03TROW +.17 WHR -.07.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1909 stocks rise and 1045 fall on the NYSE. NASDAQ saw 1988 rise and 840 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
Weekly Jobless Claims due out at 8:30 a.m. EST.
December Leading Indicators are due out at 10:00 a.m. EST and are expected to rise to 0.5% from 0%.
December New Home Sales are due out at 10:00 a.m. EST and are expected to fall to 588,000 from 592,000.
Weekly Natural Gas Inventories due out at 10:30 a.m. EST.
Politico
President Trump will travel to Philadelphia to meet with Republicans in an off site meeting.
Eurogroup meets in Brussels.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, URI . CIBC Whistler Institutional Investor Conference.
Conference of Note
M & A News
Johnsonm & Johnson (JNJ) to buy Swiss held Actelion (ALIOY) for $280 per share.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | IP LNC CNDT RGA UNM VOYA AMP | |
| Merrill Lynch | SGMS | IGT |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Key Banc | ||
| Sanford Bernstein | ||
| Jefferies | ||
| Nomura | PKX | |
| Needham | ||
| Raymond James | ||
| Buckingham | ||
| Friedman Billings | ||
| Guggenheim | ||
| Stifel | MTOR |
