In After Hours Trading
IPOs on deck none of note today. Secondaries ALDX NBEV PFLT.
In After Hours Trading: AMKR +.18 CUTR -.08 VNO -.18.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: X.
What’s Happening This Morning
U.S. futures: S&P -0.75, Dow Jones -8, NDX -1.75 and Russell 2000 -4.40. Asia lower and Europe lower ex Germany.
Copper, silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.44% yield, one month change +5 and +69 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors All.
Weak Sectors None.
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): AIG ESRX DVN A FANG FTI SKT among the leaders.
Due Friday morning (by avg. trade volume descending): PEP ADI HLT ETR TECK BG WYN ALKS HUN MDCO HAIN among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Toshiba takes a big write down. Euro zone growth was less than expected. Stock pickers have good January.Treasury market faces a huge test from Trump.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): AB +.18 CRL +.10 DISCA +.06 INCY -.18 ITT +.06 MLM -.05 SALE +.06 TRU+.08.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1768 stocks rise and 1160 fall on the NYSE. NASDAQ saw 1643 rise and 1177 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
January PPI is due out at 8:30 a.m. EST and is expected to remain at 0.3%.
Politico
Eurogroup head meets with the EU Parliament on Greece.
Also, Federal Reserve Chairman Yellen testifies to the Senate in her annual Humphrey Hawkins testimony; it begins at 10:00 a.m. EST.
Federal Reserve Richmond President Jeffrey Lacker speaks at 8:50 a.m. EST, and Federal Reserve Dallas President Rob Kaplan appears on a panel at noon. Federal Reserve Atlanta President Dennis Lockhart speaks in Alabama at 12:30 p.m. EST.
The House Committee on Homeland Security holds a hearing on borders and security.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, COL.
Conference of Note
BIO CEO & Investor Conference 2017. Credit Suisse Energy Summit. Stifel Transportation & Logistics Conference. Goldman Sachs Technology and Internet Conference. SunTrust Robinson Humphrey Orphan Drug Day Conference.
M & A News
Aetna (AET) and Humana (HUM) decide not to merge.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | FRAC | |
| Goldman Sachs | ||
| Morgan Stanley | FRAC | |
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| CLSA | ||
| Sanford Bernstein | ||
| Jefferies | ||
| Nomura | ||
| Needham | ||
| Raymond James | ||
| Iper Jaffray | FRAC | |
| Friedman Billings | ||
| Guggenheim | ||
| Stifel | Z XRAY CYBR |
