In After Hours Trading
IPOs on deck none of note today. Secondaries ABG FRC HASI LPSN STAY.
In After Hours Trading: ASNA +.02 CASY -.30 DAVE -.10.
Lower Guidance: ALOG.
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P -3.25, Dow Jones -23, NDX -7.25 and Russell 2000 -1. Asia higher and Europe mixed.
Copper,silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.49% yield, one month change +11 and +60 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Conglomerates.
Weak Sectors Healthcare, Financials and Consumer Goods.
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):HRB URBN RRR ABM REVG NCS BOJA among the leaders.
Due Wednesday morning (by avg. trade volume descending): VAL CIEN TECD PLCE BOBE VRA HOV SMRT among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Trump revises the travel ban to be less restrictive. Republicans released their draft bill on the revision to Obamacare. Euro growth rose 0.4% in Q4. Oil is near $53 a barrel. The U.S. begins deployment of the Thaad missile defense system in South Korea.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BTE -1.50 DKS +.02 JWA +.14 NAV -.26.
Missing: .
Lower Guidance: DKS ARQL.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 883 stocks rise and 2068 fall on the NYSE. NASDAQ saw 840 rise and 2055 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
Consumer Credit for January is due out at 3:00 p.m. EST.
Politico
A Senate Subcommittee looks into Russian policies towards Europe.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note,MITL CVX IBM ALLE AMPE. Deutsche Bank Annual Media Internet and Telecom Conference. Cowen & Company Annual Healthcare Conference. Raymond James Institutional Investors Conference. 2017 Citi Global Property CEO Conference.
Conference of Note
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | SRCL | |
| Morgan Stanley | H | |
| Deutsche Bank | ||
| Citigroup | ASNA | |
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| SunTrust RH | FBM |
