In After Hours Trading
IPOs on deck today none of note. Secondaries of note ALQA ATH ATOS.
In After Hours Trading: PLAY +.04 OLLI +.03 RH +.03 SONC +.01 VRNT +.04.
Lower Guidance: .
Mixed Guidance: OLLI RH.
Positive Guidance: LAUR.
What’s Happening This Morning
U.S. futures: S&P -0.75, Dow Jones -16, NDX +1.25 and Russell 2000 -2.70. Asia higher ex China and Europe higher ex the U.K.
Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.40% yield, one day change +3, one month change +1 and +59 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors All except Healthcare and Utilities.
Weak Sectors Healthcare and Utilities.
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): FUL LULU PRGS SIGM FTI WOR among the leaders.
Due Wednesday morning (by avg. trade volume descending): among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: EU blocks takeover by Deutsche Boerse AG of LSE. Federal Reserve Vice Chairman Stanley Fisher called for two more rate hikes.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SCWX +.04.
Missing: .
Lower Guidance: .
Current Morning missing: PAYX.
Mixed Guidance: SCWX.
Positive Guidance: .
Data Points
Yesterday saw 2181 stocks rise and 745 fall on the NYSE. NASDAQ saw 1758 rise and 1082 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 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
February Pending Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 2.4% from -2.8%.
Politico
Federal Reserve Chicago President Charles Evans speaks at 9:20 a.m. EDT, followed by Boston President Eric Rosengren at 11:30 a.m. EDT and San Francisco President John Williams at 1:15 p.m. EDT.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, ALK. Scotia Howard Weil Energy Conference. Sidoti Emerging Growth Convention.
Conference of Note
GlobalShop 2017
M & A News
MXL to buy EXAR for $13 a share.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | NRG | DNKN |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| SunTrust RH | FTV | |
| Sanford Bernstein | ||
| Jefferies | CC | |
| RBC | ||
| Needham | CYBR | |
| Raymond James | ||
| Piper Jaffray | ||
| Friedman Billings | ||
| Guggenheim | ||
| Stifel | ROYT |
