In After Hours Trading
IPOs on deck today none of note. Secondaries of note AMH FI HTBX KEYS LJPC LKSD MMSI OEC QUIK TNDM VLRX.
In After Hours Trading: CTAS +.04 PVH +.05 MLHR +.07 FIVE +.01.
Lower Guidance: .
Mixed Guidance: FIVE MLHR.
Positive Guidance: PVH.
What’s Happening This Morning
U.S. futures: S&P +4, Dow Jones +11, NDX +5.50 and Russell 2000 +4.50. Asia and Europe higher.
Copper higher with silver higher and gold lower as well. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.41% yield, one month change +4 and +54 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Technology, Services and Utilities.
Weak Sectors Financials and Conglomerates.
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): MU TRQ GME KBH RH SCVL NK SIGM among the leaders.
Due Friday morning (by avg. trade volume descending): FINL among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Health Care Bill changes hit final hours.The ECB offered its last Tergeted Longer Term Refinancing Operation (TLTRO) as pressure to reduce monetary easing grows. North Korea may have robbed the Bangladesh Central Bank.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ACN +.03 AVID +.09 CMC +.14 CAG +.04 SCHL -.11.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1581 stocks rise and 1350 fall on the NYSE. NASDAQ saw 1212 rise and 1610 fall.
The SP 500 is still above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is back below its 50 day moving exponential average and is above 200 day exponential moving average.
The 10 day spread moving average of breadth is back to cash. The Madison Market Timing Indicator is now invested since November 18th.
YTD 3907 stocks are higher and 2342 lower. Updated 3/17/17 close.
Economics
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
Politico
Debate over Obamacare repeal continues with a vote set for tonight at midnight.
Federal Reserve Chairman Janet Yellen speaks to the Federal Reserve System Community Development Research Conference at 8:45 a.m. EDT.
Federal Reserve Dallas President Robert Kaplan participates in a Q&A on the economic outlook and monetary policy. Also Federal Reserve Minneapolis Federal Reserve President Neel Kashkari speaks at 12:00 p.m. EDT.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, MTDR MMLP AMTD F. Morgan Stanleuy Financials Conference.
Conference of Note
The International Dental Show
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | FEYE | PFPT |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | RACE | |
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | DG | |
| Banc of America | ||
| UBS | ||
| SunTrust RH | ||
| Sanford Bernstein | ||
| Jefferies | ||
| RBC | MO | |
| Needham | ||
| Raymond James | SCS | |
| Piper Jaffray | ||
| Friedman Billings | ||
| Guggenheim | ||
| Stifel | VRNS SWN ECR CHK |
