In After Hours TradingIPO on deck Yirendai this week. Secondaries on deck ANAC PLAY NCLH.
In After Hours Trading: PAY +.01. Lower guidance PAY.
What’s Happening This MorningU.S. futures: S&P +13.75, Dow Jones +104, NDX +22.25 and Russell 2000 +7.00 with fair value a bit higher cutting into gains. Asia lower and Europe higher.
Copper lower with silver and gold flat. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield +2 at 2.24% yield, one month change -2 and +13 YTD. Prices as of 7:55 a.m. EDT.
Earnings ExpectedEarnings due after the close (by avg. trade volume): HEI.
Due Wednesday morning (by avg. trade volume descending): WMS JOY.
Rags & Mags: Inside Wall StreetUSA Today: Fed rate hike likely to slow economy. Fed rate increase will be first since 2006. Shell to cut 2,800 jobs. GOP Candidate Cruz pulls ahead of Trump. President Obama turns to governors to get help on gun control.
Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): FDS -.04 SKIS +.02. Lower Guidance none of note.
Current Morning missing: none of note.
Data PointsYesterday saw 813 stocks rise and 2324 fall on the NYSE. NASDAQ saw 1053 rise and 1824 fall.
The SP 500 is back below its 50 day exponential moving average and 200 day exponential moving average. The Russell 2000 is below its 50 day moving exponential average and 200 day exponential moving average.
The 10 day spread moving average of breadth is back to cash. The Madison Market Timing Indicator is still invested.
YTD 2536 (-41) stocks are higher for the year and 4264 (+109) are lower. Updated 12/4/15 Close. Prior Update 11/6/15 close.
EconomicsReleases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications with CPI, Housing Starts, Industrial Production and Philadelphai Fed Survey.
Due up today:
November CPI is due out at 8:30 a.m. EST and is expected to drop to 0.0% from 0.2%.