iBankCoin
Joined Dec 4, 2012
319 Blog Posts

Morning Briefing Fed Vice Chairman Sees Rate Increases Coming

In After Hours Trading

IPOs on deck none of note today. Secondaries CIT MMLP NGL TRU ZAYO.

In After Hours Trading: AEM -.08 CAR -.03 ABX +.03 DENN +.02 EQIX +.12 GDDY -.30 MRO +.05 MOH -2.30 NTAP +.08 NTES +.73 PHH -1.64 SNPS +.16 TRIP -.15 WMB -.02.

Lower Guidance: EQIX.

Mixed Guidance: .

Positive Guidance: AMAT CHH SNPS.

What’s Happening This Morning

U.S. futures: S&P -4.25, Dow Jones -36, NDX -2.00 and Russell 2000 -5.20. Asia mixed and Europe lower.

Copper, silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.47% yield, one month change +8 and +70 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Healthcare, financials and consumer goods.

Weak Sectors Utilities and energy.

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): ED RSG DLR DVA ANET FLS CGNX AUY among the leaders.

Due Friday morning (by avg. trade volume descending): ENB DE SE MCO VFC CPB SJM SEP XRAY FLR among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: Inflation is now a concern with yesterday’s CPI report that came in at 0.6%. The Federal Reserve Open Market Committee (FOMC) meeting is likely to be a live meeting. The market rally has stalled overseas today. China continues to sell Treasuries. Snapchat seeks a valuation of $22 billion.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ALXN +.02 CAB -.17 CHTR +.58 ECA +.08 GNC -.29 H +.02 MGM -.07 PBF -.31 SHPG +.14 TIME -.03 TRP +.04 WM -.02

Missing: .

Lower Guidance: ALXN.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1735 stocks rise and 1207 fall on the NYSE. NASDAQ saw 1822 rise and 1019 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 Housing Starts are due out at 8:30 a.m. EST and are expected to rise to 1,230,000 from 1,226,000.

Politico

G-20 Ministers meet in Bonn, Germany.

In an interview with Bloomberg TV this morning, Federal Reserve Chairman Stanley Fisher sees more rate increases on the horizon.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, EMR MOH HAWK WEN PGSVY. Credit Suisse Energy Summit. Goldman Sachs Technology and Internet Conference. Leerink & Dwann Anual Global Healthcare Conference.

Conference of Note

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup
Merrill Lynch CAVM EVR IDTI
Wachovia/Wells Fargo
Credit Suisse WFC
Banc of America
UBS
CLSA
Sanford Bernstein
Jefferies MDCA SYT
Nomura
Needham
Raymond James
Iper Jaffray
Friedman Billings
Guggenheim
Stifel
Robert W. Baird
Cowen
Sun Trust RH RF
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