In After Hours Trading
IPOs on deck today Canada Goose Holdings (GOOS). Secondaries of note ACHC TLND ZSAN.
In After Hours Trading: ALRM +.06 ATH +.63 GES -.03 JBL +.02 MGI -.03 ORCL +.07 FRSH +.05 WSM +.04.
Lower Guidance: GES.
Mixed Guidance: WSM.
Positive Guidance: P.
What’s Happening This Morning
U.S. futures: S&P +5.75, Dow Jones +58, NDX +14.75 and Russell 2000 +5.20. Asia and Europe higher.
Copper higher with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.53% yield, one month change +8 and +61 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors All.
Weak Sectors None.
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): ADBE NTLA ADPT among the leaders.
Due Friday morning (by avg. trade volume descending): TIF GMAN among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Market worldwide are in rally mode. Trump proposes deep budget cuts. Dutch elections did not move to the far right. .
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CATO +.04 DG +.05 PTHN -.08.
Missing: .
Lower Guidance: PTHN.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 2633 stocks rise and 379 fall on the NYSE. NASDAQ saw 1985 rise and 870 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 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 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 Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,260,000 from 1,246,000.
Weekly Jobless Claims at 8:30 a.m. EDT and Weekly Natural Gas Inventories at 10:30 a.m. EDT.
Politico
Irish Prime Minister Enda Kenny meets with President Trump.
Overnight the Bank of Japan (BOJ) and the Bank of England (BOE) are out with their latest decisions. THe BOJ held to easy policy. The BOE will be at 8:00 a.m. EDT.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, ALB OMI RYAM. Barlcays Global Healthcare Conference.
Conference of Note
Semicon China
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | INFN | CIEN |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | UTHR BIVV | |
| Banc of America | ||
| UBS | ||
| SunTrust RH | HAWK TVTY | |
| Sanford Bernstein | ||
| Jefferies | ||
| RBC | ||
| Needham | JBL | |
| Raymond James | EWBC | |
| Piper Jaffray | TROV | |
| Friedman Billings | ||
| Guggenheim | LC OAS AR | |
| Stifel | JAG |
