In After Hours Trading
IPOs on deck none of note today. Secondaries AFI AWI COTV FOXF GEO HIIQ JBT LADR LAND.
In After Hours Trading: ABM +.07 BOJA +.06 HRB +.03 WG -.12.
Lower Guidance: BOJA.
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P +1.25, Dow Jones +4, NDX +3 and Russell 2000 +1.70. Asia higher and Europe mixed.
Copper higher with silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.55% yield, one month change +21 and +72 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors none.
Weak Sectors Healthcare, Energy, Materials, 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): SMTC UNFI RATE among the leaders.
Due Thursday morning (by avg. trade volume descending): IGT PTHN SIG PRTY SSYS among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: U.K. budget is due today. China reports a trade deficit today. Treasury finding trouble to fill top positions. OPEC and U.S. Shales reach a truce?
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CIEN -.03 TECD .29 PLCE +.29.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 887 stocks rise and 2036 fall on the NYSE. NASDAQ saw 986 rise and 1842 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
ADP came in at 298K a few minutes ago.
There is a $20 billion 10 Year Treasury Note Auction at 1:00 p.m. EST.
Analyst meetings of note AVY CTL ANW AXP SWFT.
Politico
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, AVY CTL ANW AXP SWFT. Deutsche Bank Annual Media Internet and Telecom Conference. Cowen & Company Annual Healthcare Conference. Raymond James Institutional Investors Conference.UBS Global Consumer & Retail Conference.
Conference of Note
GE Power & Renewable Energy Meeting
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | NHYDY | BT |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | MIK AVB | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| SunTrust RH | ||
| Sanford Bernstein | ||
| Jefferies | ||
| RBC | GOLD | |
| Needham | ||
| Raymond James | ||
| Piper Jaffray | AF NSM |
