In After Hours Trading
IPOs on deck today none of note. Secondaries ANTM AUPH BMCH DOC LNTH VRX.
In After Hours Trading: COUP +.12 IPAR +.02 KMG +.15 TLYS +.03.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: COUP.
What’s Happening This Morning
U.S. futures: S&P -4.25, Dow Jones -30, NDX -6.75 and Russell 2000 -3.50. Asia mixed and Europe lower.
Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.61% yield, one month change +15 and +66 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Materials, Energy, Utilities and Technology.
Weak Sectors Healthcare.
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): HTHT FRAC TWNK FTD NPTN RST AXAS among the leaders.
Due Wednesday morning (by avg. trade volume descending): INVH JAG SITE ARCP CBK among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: U,K. to invoke Article 50 of Lisbon Treaty to start Brexit process. East Coast will be hit by a massive snow storm. Investors bet against Trump Trade War.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): DSW +.04 HDS +.01.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 1766 stocks rise and 1150 fall on the NYSE. NASDAQ saw 1765 rise and 1055 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 back below its 50 day moving exponential average and its 200 day exponential moving average.
The 10 day spread moving average of breadth is back to cash as of yesterday. 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
February PPI is due out at 8:30 a.m. EDT and is expected to fall to 0.1% from 0.6%.
Politico
The FOMC begins a two day meeting that concludes mostly with a rate increase on Wednesday.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, EPAM AKAM CRVS MTH CRM CLDX. Roth Capital Partners Conference. JP Morgan Aviation, Transportation & Industrials Conference. Barlcays Global Healthcare Conference. Bank of America Merrill Lynch 2017 Consumer & Retail Technology Conference.
Conference of Note
Semicon China
M & A News
Citrix (CTXS) puts itself in play as it hires Goldman to seek buyers.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ARRS | GDW |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| SunTrust RH | GDOT | |
| Sanford Bernstein | ||
| Jefferies | ||
| RBC | ||
| Needham | ENTG |
