In After Hours Trading
IPOs on deck today none of note. Secondaries of note ADAP CALA DEA RGNX TMHC VTL.
In After Hours Trading: DLTH +.09 FDX -.27 NKE +.15 SLW +.03 SCS +.04.
Lower Guidance: .
Mixed Guidance: DLTH SCS.
Positive Guidance: P.
What’s Happening This Morning
U.S. futures: S&P -3.75, Dow Jones -53, NDX -6.50 and Russell 2000 -4.50. Asia and Europe lower.
Copper lower with silver and gold lower as well. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.41% yield, one month change +0 and +47 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors None.
Weak Sectors All.
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): CTAS FIVE MLHR PVH among the leaders.
Due Thursday morning (by avg. trade volume descending): ACN CMC CAG SFUN HHS PRGO SCHL among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Oil is at $47.44 heading into today’s weekly number. The PBOC injected capital to keep liquidity strong. Global art sales fall to lowest level since the 2007-2009 Financial Crisis.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): PERY +.05 WGO +.04.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Data Points
Yesterday saw 600 stocks rise and 2358 fall on the NYSE. NASDAQ saw 467 rise and 2429 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 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 3907 stocks are higher and 2342 lower. Updated 3/17/17 close.
Economics
February Existing Home Sales are due out at 10:00 a.m. EDT and are expected to fall to 5.54 million from 5.68 million.
Weekly Oil & Gas Inventories are due out at 10:30 a.m. EDT.
Politico
Debate over Obamacare repeal continues with a vote set for Thursday at midnight.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, CSTM CRC. Bank of America Merrill Lynch Global Industrials & EU Autos Conference. Oppenheimer Annual Healthcare Conference.
Conference of Note
The International Dental Show
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | FTR | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | PE | |
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| SunTrust RH | ||
| Sanford Bernstein | ||
| Jefferies | ||
| Key Bank | LB |
