iBankCoin
Joined Dec 4, 2012
311 Blog Posts

Futures Now Up Slightly, After Being Lower Overnight

In After Hours Trading

IPOs on deck today Elevate Credit (ELVT) and Schneider National (SNDR). Secondaries of note BSBR CLNS EVBG SYNC WGO.

In After Hours Trading: BBBY +.06 YUMC +.06.

Lower Guidance: BBBY.

Mixed Guidance: .

Positive Guidance: .

What’s Happening This Morning

U.S. futures: S&P +1.25, Dow Jones +15, NDX +4 and Russell 2000 +1.70. Asia and Europe lower as they follow U.S. selloff on Wednesday.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and flat vs. Yen. US 10 year Treasury yield at 2.35% yield, one day change +3, one month change -15 and +59 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Utilities.

Weak Sectors All other.

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): PSMT WDFC among the leaders.

Due Friday morning (by avg. trade volume descending): none of note.

Rags & Mags: Inside Wall Street

Bloomberg: FOMC Minutes show that the Fed is going to start working on reducing the balance sheet. White House wants to separate consumer lending from investment banks, going back to Glass Steagall. ECB Head Draghi says inflation not strong enough to shift monetary policy. Citigroup notes short retail is too crowded.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): KMX +.02 STZ +.12 FRED +.05 MSM +.03.

Missing: SCHN.

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 999 stocks rise and 1929 fall on the NYSE. NASDAQ saw 788 rise and 2062 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 2662 stocks are higher and 1979 lower. Updated 3/31/17 close.

Economics

Challenger Job Cuts are due out at 7:30 a.m. EDT and fell by -2%.

Weekly Jobless Claims due at 8:30 a.m. EDT.

Weekly Natural Gas inventories are due out at 10:30 a.m. EDT.

Politico

Chinese President Xi Jinping travels to Florida to meet with President Donald Trump into the weekend.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, VET LB CDTX ANGO MGPI MBOT TASR.

Conference of Note

European Gold Forum. World Economic Forum.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan BG AMD
Goldman Sachs FUN SEAS
Morgan Stanley
Deutsche Bank
Citigroup SGYP SJR
Merrill Lynch GBX LNC NTNX
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
SunTrust RH
Sanford Bernstein
Jefferies
RBC
Needham
Raymond James PACW TCBI
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