In After Hours Trading
IPOs on deck none of note. Secondaries On Deck JD MC MRTX SUM.
In After Hours Trading: HELE +0.48.
Lower Guidance: .
Mixed Guidance: HELE.
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P -2, Dow Jones -20, NDX +0 and Russell 2000 -2.10. Asia mixed and Europe a bit lower.
Copper higher with silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.35% yield, one month change -4 and +18 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Healthcare, Materials and Energy.
Weak Sectors Conglomerates and Financials.
One month winners All.
Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.
Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.
One Year Winners Energy, Materials, Industrial Goods and Utilities.
Year To Date All.
Earnings Expected
Earnings due after the close (by avg. trade volume): none of note.
Due Monday morning (by avg. trade volume descending): AYI CMC GPN.
Rags & Mags: Inside Wall Street
Bloomberg: China is prepared for a trade war with the U.S. if they want it. An APP to track when Trump tweets about one of your stocks.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ANGO +.03 AZZ -.17 GBX -.04.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1296 stocks rise and 1640 fall on the NYSE. NASDAQ saw 1177 rise and 1715 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 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 invested as of November 15th. 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.
Economics
December Nonfarm Payroll is due out at 8:30 a.m. EST and is expected to come in at 172,500 from 178,000. The unemployment rate is expected to increase to 4.7% from 4.6%.
November Factory Orders are due out at 10:00 a.m. EST and are expected to fall to -2.2% from 2.7%.
Politico
Fedspeak today. Federal Reserve Chicago President Evans speaks at 11:15 a.m. EST. Followed by Federal Reserve Richmond President Lacker at 1:00 p.m. EST. Last, Federal Reserve Dallas President Kaplan speaks at 3:30 p.m. EST.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, BIIB GSAT TEVA. Goldman Sachs Global Energy Conference.
Conference of Note
The Consumer Electronic Show (CES) in Las Vegas today.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | AVY | |
| Merrill Lynch | TCAP | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Key Banc | ||
| Sanford Bernstein | ||
| Jefferies | TFX HWAY | |
| Nomura | ||
| Needham | SYK | |
| Raymond James | ||
| Societe Generale | ||
| Friedman Billings | ||
| CLSA | ||
| Stifel | GKOS EXPE |
