Joined Dec 4, 2012
319 Blog Posts

Morning Playbook Fedspeak Lead By Loretta Mester

In After Hours Trading

IPOs on deck today none of note. Secondaries of note AXSM GBDC GEL.

In After Hours Trading: None of note.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: P.

What’s Happening This Morning

U.S. futures: S&P +4.75, Dow Jones +19, NDX +12 and Russell 2000 +3.70. Asia mixed and Europe higher ex the U.K.

Copper lower with silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and flat vs. Yen. US 10 year Treasury yield at 2.49% yield, one month change +8 and +61 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Consumer Goods and Materials.

Weak Sectors Financials Utilities and Industrials.

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): DLTH FDX NKE SLW SCS among the leaders.

Due Wednesday morning (by avg. trade volume descending): INVH HAIN AYA ATU GOLF INSY PERY among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: FBI Director Comey’s testimony confirmed no wiretap by Obama and that the FBI is looking at the Russians interference in the 2016 Presidental Election. Lots of Fedspeak today.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CSIQ -.017 CMCM +.34 LE +.06 LEN +.04.

Missing: .

Lower Guidance: CMCM.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1216 stocks rise and 1690 fall on the NYSE. NASDAQ saw 1113 rise and 1757 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 3907 stocks are higher and 2342 lower. Updated 3/17/17 close.


None of note.


Federal Reserve Kansas City President Esther George speaks at12:00 p.m. EDT, and Cleveland President Loretta Mester speaks at 6:00 p.m. EDT.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, MBT MAR ALLY TEN. Bank of America Merrill Lynch Global Industrials & EU Autos Conference. Morgan Stanley Financials Conference. Oppenheimer Annual Healthcare Conference.

Conference of Note

The International Dental Show

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse
Banc of America
SunTrust RH
Sanford Bernstein SJM GIS CPB CAG K
Jefferies MSI
Raymond James
Piper Jaffray
Friedman Billings
Robert W. Baird
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