In After Hours Trading
IPOs on deck 8 IPOs this week. Secondaries On Deck NRZ.
In After Hours Trading: AEIS +.25 CR +.04 GGG+.14 PKG +.07 PFG +.12 RGA +.39 SANM +.08 WERN +.04.
Lower Guidance: PKG.
Mixed Guidance: .
Positive Guidance: AEIS SANM.
What’s Happening This Morning
U.S. futures: S&P -3, Dow Jones -27, NDX -8.25 and Russell 2000 -1.70. Asia lower and Europe mixed.
Copper, silver and gold higher. WTI Crude and Brent Oil Futures mixed. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.47% yield, one month change +2 and +55 one year change. Prices as of 7:45 a.m. EDT.
Top Sectors None.
Weak Sectors All.
One month winners All ex Conglomerates.
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): AAPL CB APC AFL EA ILMN EQR BXP CE CHRW AMD FBHS among the leaders.
Due Wednesday morning (by avg. trade volume descending): MO D ADP ANTM BAX MPC PPL IR WEC MPLX AVY USG among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: The Bank of Japan left rates unchanged and left inflation forecast intact. Inflation popped in Europe to 1.8% increase. Deutsche Bank (DB) fined $629M in fines. Warren Buffet bought $12 billion of stock since the election.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): AET +.19 ABC +.13 AXE +.15 DHR +.02 LLY -.03 HOG -.04 HUBB +.13 MAN +.16 PCAR -.05 SNG +.29 DF +.03 UAA -.02 VLO +.03 WDR +.04 ZBH +.03.
Missing: .
Lower Guidance: AET UAA.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 887 stocks rise and 2082 fall on the NYSE. NASDAQ saw 682 rise and 2220 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
The S&P/Case Schiller Home Price Index for November is due out at 9:00 a.m. EST and is expected to drop to 5.0% from 5.1%.
January Chicago PMI is due out at 9:45 a.m. EST and is expected to rise to 55.5 million from 54.6.
January Consumer Confidence is due out at 10:00 a.m. EST and is expected to fall to 113 from 113.70.
Politico
President Trump will meet with Pharmaceutical leaders today. Backlash related to immigration continues.
The European Central Bank (ECB) and European Commission will hold a joint meeting in Frankfurt.
The Federal Reserve Open Market Committee (FOMC) begins its two day meeting that concludes on Wednesday with an interest rate announcement.
The Bank of Japan (BOJ) left rates unchanged.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, NAVB SM. Noble Capital Small Cap & Emerging Growth Investor Conference.
Conference of Note
DistribuTECH 2017
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | SHOO | FIT |
| Merrill Lynch | TEVA NNNCBOE | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| CLSA | BWLD | |
| Sanford Bernstein | ||
| Jefferies | ||
| Nomura | ||
| Needham | ||
| Raymond James | ||
| Buckingham | ||
| Friedman Billings | ||
| Guggenheim | ||
| Stifel | QTS | |
| Robert W. Baird |
Nice job on this. Appreciated.