In After Hours Trading
IPOs on deck today none of note. Secondaries of note CYRX EVH STOR.
In After Hours Trading: DRI +.05 TRQ +.06.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
What’s Happening This Morning
U.S. futures: S&P -2.50, Dow Jones -24, NDX -2.25 and Russell 2000 -4.60. Asia higher ex China and Europe higher ex France.
Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.37% yield, one month change -2 and +49 one year change. Prices as of 7:55 a.m. EDT.
Top Sectors Healthcare and Technology.
Weak Sectors Financials and Industrials.
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): PLAY OLLI RH SONC among the leaders.
Due Wednesday morning (by avg. trade volume descending): INSY PAYX SCWX among the leaders.
Rags & Mags: Inside Wall Street
Bloomberg: Trump to sign executive orders that Obama put in place to combat climate change. Tomorrow sees the U.K. begin its two year process to leave the EU. Markets still do not care about Trump’s failures.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): HOME +.02 FDS +.01 MKC +.02.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: HOME FDS SOL.
Positive Guidance: .
Data Points
Yesterday saw 1454 stocks rise and 1456 fall on the NYSE. NASDAQ saw 1607 rise and 1246 fall.
The SP 500 is still 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
March Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 113.3 from 114.80.
Politico
Federal Reserve Kansas City President Esther George speaks at12:450 p.m. EDT and then Federal Reserve Dallas President Rob Kaplan at 1:00 p.m. EDT.
Both Federal Reserve Chairman Yellen and Vice Chairman Fisher speak today at 12:50 p.m. EDT and 12:30 p.m. EDT.
Conference & Analyst Meetings
Meetings, Conference Calls or Announcements of note, CY INTC. Scotia Howard Weil Energy Conference.
Conference of Note
GlobalShop 2017
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | GOGL SB | GPOR |
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | PINC | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | CMC | |
| Banc of America | ||
| UBS | ||
| SunTrust RH | ||
| Sanford Bernstein | ||
| Jefferies | ||
| RBC | ||
| Needham | ZBRA |
