In After Hours Trading
IPOs on deck none of note today. Secondaries ARGO APAM CLD GMS NGD NTB TRGP.
In After Hours Trading: ANSS +.02 SAM +.51 CLR +.03 ETE-.04 FIR -.03 JACK -.07 LB +.13 NBR +.04 TSLA -.16 RIG +.58 XPER -.11.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P +2.75, Dow Jones +23, NDX +4.25 and Russell 2000 +1.80. Asia mixed and Europe mixed.
Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.40% yield, one month change none and +67 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Conglomerates and Consumer Goods.
Weak Sectors Energy and Materials.
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): BIDU HPE INTU MNST BMRN PBA GPS MELI SPLK JWN among the leaders.
Due Friday morning (by avg. trade volume descending): RY PEG MGA COG FL PNW ARES USM TDS JCP among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Federal Reserve minutes showed that rate increases are coming fairly soon. President Trump postponed a new version of immigration restriction order until next week. Bond trading rebounds for first time since 2012.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): APA -.13 EE +.08 GIL +.03 VAC +.09 SHLX +.02 VC +.51.
Missing: .
Lower Guidance: .
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
Weekly Jobless Claims are due out at 8:30 a.m. EST. Weekly Natural Gas Inventories are due out at 10:30 a.m. EST.
Politico
Secretary of State Rex Tillerson and Department of Homeland Security Chief John Kelly pay a visit to Mexico.
Treasury Secretary Steve Mnuchin gave an interview to CNBC and noted tax reform by August break.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, EXPI CETX SC THG. RBC Capital Markets Global Healthcare Conference.
Conference of Note
ACTRIMS Forum with MRK BIIB NVS CVS CELG TEVA among others.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | KB HD PI | |
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | RAI | |
| Credit Suisse | BLMN | |
| Banc of America | ||
| UBS | ||
| CLSA | ||
| Sanford Bernstein | ||
| Jefferies | ||
| Nomura | ||
| Needham | ||
| Raymond James | WAAS | |
| Iper Jaffray | ||
| Friedman Billings | ||
| Guggenheim | ||
| Stifel | RETA |
