Joined Dec 4, 2012
319 Blog Posts

The Morning Briefing: Can The Rally Continue From Yesterday?

In After Hours Trading

IPOs on deck today Canada Goose Holdings (GOOS). Secondaries of note ACHC TLND ZSAN.

In After Hours Trading: ALRM +.06 ATH +.63 GES -.03 JBL +.02 MGI -.03 ORCL +.07 FRSH +.05 WSM +.04.

Lower Guidance: GES.

Mixed Guidance: WSM.

Positive Guidance: P.

What’s Happening This Morning

U.S. futures: S&P +5.75, Dow Jones +58, NDX +14.75 and Russell 2000 +5.20. Asia and Europe higher.

Copper higher with 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 2.53% yield, one month change +8 and +61 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors All.

Weak Sectors None.

One month winners All ex Conglomerates, Materials and Energy.

Three Month Winners Conglomerates, Industrial Goods, Financials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All except for Energy and Conglomerates.

Earnings Expected

Earnings due after the close (by avg. trade volume): ADBE NTLA ADPT among the leaders.

Due Friday morning (by avg. trade volume descending): TIF GMAN among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: Market worldwide are in rally mode. Trump proposes deep budget cuts. Dutch elections did not move to the far right. .

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CATO +.04 DG +.05 PTHN -.08.

Missing: .

Lower Guidance: PTHN.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 2633 stocks rise and 379 fall on the NYSE. NASDAQ saw 1985 rise and 870 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 back 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 cash as of yesterday. 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.


February Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,260,000 from 1,246,000.

Weekly Jobless Claims at 8:30 a.m. EDT and Weekly Natural Gas Inventories at 10:30 a.m. EDT.


Irish Prime Minister Enda Kenny meets with President Trump.

Overnight the Bank of Japan (BOJ) and the Bank of England (BOE) are out with their latest decisions. THe BOJ held to easy policy. The BOE will be at 8:00 a.m. EDT.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, ALB OMI RYAM. Barlcays Global Healthcare Conference.

Conference of Note

Semicon China

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs INFN CIEN
Morgan Stanley
Deutsche Bank
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse UTHR BIVV
Banc of America
Sanford Bernstein
Needham JBL
Raymond James EWBC
Piper Jaffray TROV
Friedman Billings
Guggenheim LC OAS AR
Stifel JAG
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