In After Hours Trading
IPOs on deck none of note today. Secondaries On Deck AMC CHRS GALE GMLP PE.
In After Hours Trading: AKAM +.04 BWLD -.44 GILD +.10 MDLZ -.02 ORLY +.05 PNRA +.05 TDW +.29 DIS +.06 ZG +.03.
Lower Guidance: GILD.
Mixed Guidance: .
Positive Guidance: X.
What’s Happening This Morning
U.S. futures: S&P -1.50, Dow Jones +1, NDX +1.75 and Russell 2000 -2.70. Asia and Europe higher ex the U.K.
Copper, silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and flat vs. Yen. US 10 year Treasury yield at 2.36% yield, one month change -5 and +62 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Consumer Goods, Technology and Industrials.
Weak Sectors Energy, Utilities and Services.
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): SU PRU FISV EFX FLT CTL CINF WFM TRMB UHAL among the leaders.
Due Thursday morning (by avg. trade volume descending): KO RAI CVS OXY REGN K CMI YUM DTE VIAB among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: President Trump’s travel ban challenge to be decided by the U.S. Court of Appeals. India Central Bank left rates unchanged. Oil is struggling as stockpiles rise. Copper may continue to rise as strikes as two of the biggest mines.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ALK +.16 AGN +.16 GWR +.11 JEC +.05 TWX +.06 .
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1331 stocks rise and 1595 fall on the NYSE. NASDAQ saw 1168 rise and 1634 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 Crude Oil Inventories are due out at 10:30 a.m. EST.
Politico
International Monetary Fund (IMF) Head Christine Lagarde speaks on “The Power of Transparency to Increase Economic Resilience”.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, SLB TXN.
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