Futures Higher Again

by Geoffrey Garbacz | 12/23/2015 09:47 PM
Futures Higher Again

In After Hours Trading

IPO on deck none of note Secondaries on deck none of note.

In After Hours Trading: CAMP +.01 MU +.02 NKE +.04. Lower guidance MU.

What’s Happening This Morning

U.S. futures: S&P +8.50, Dow Jones +93, NDX +19.25 and Russell 2000 +3.20 with fair value lower helping gains a bit. Asia mixed and Europe higher.

Copper higher with silver and gold lower. WTI Crude lower and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.25% yield, one month change +1 and -2 one year change. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by avg. trade volume): CALM.

Due Thursday morning (by avg. trade volume descending): none of note.

Rags & Mags: Inside Wall Street

USA Today: eColi troubles remain for Chipolte (CMG). SEC still pursing hedge fund manager Steve Cohen.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): LNN +.07. Higher Guidance none of note.

Current Morning missing: none of note.

Data Points

Yesterday saw 2349 stocks rise and 725 fall on the NYSE. NASDAQ saw 1859 rise and 1038 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.

Economics

November Durable Goods are due out at 8:30 a.m. EST and are expected to drop to -0.2% from 2.9%. At the same time, November Personal Income is due out and is expected to drop to 0.2% from 0.4%.

Then at 10:00 a.m. EST December Michigan Sentiment is due out and is expected to rise to 92 from 91.8. Last November New Home Sales are due out at 10:00 a.m. EST and are expected to rise to 505,000 from 495,000.

Politico

On Thursday the Bank of Japan will release its November minutes. Congress is on break for the next several weeks, and President Obama is in Hawaii for Christmas vacation. Enjoy the silence of the season!

Conference & Analyst Meetings

No meetings or announcements of note today.

Conference of Note

European Society For Medical Oncology Asia 2015 Congress

M & A News
Key Upgrades and Downgrades

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