In After Hours Trading
There are no IPOs scheduled until after Labor Day weekend. It looks to be a busy fall. WHLR priced a secondary last night.
ADI (+.03) EPAY (+.03) EXXI (+.26) INTU (+.01) LZB (+.02) TUES (-.13) VELT (-0.05)
What’s Happening This Morning
US futures: (S&P -2.25, Dow Jones -20, NDX -4.75 with fair value a bit lower adding to the open. Asia mixed and Europe lower. Copper lower and gold lower with WTI Crude lower and Brent Oil Futures lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury Yield +1. Prices as of 7:55 a.m. EST.
Earnings due after the close HPQ LTD SNPS HAIN SMTC NOAH OFIX. Due tomorrow morning DLTR HRL GME SHLD PDCO ANF TTC BKE LANC BIG CATO PLCE SMRT BONT PERY KIRK LYTS.
Rags & Mags: Inside Wall Street
We are back to our own coverage of the major papers:
NY Times: Rebels in Syria accuse government of using chemical weapons. Currency volatility is upsetting investors. Lowe’s (LOW) raises outlook.
Wall Street Journal: NSA has massive reach. Short sellers hurt by rising prices.
USA Today: Wall Stree blinks on upcoming moves by the Fed. Are IPOs a good deal for investors.
Reported Earnings This Morning
GSM (+.06) SJM (+.04) LOW (+.09) MSG (+.17) SPLS (-.02) TOL (+.01)
Tuesday saw 2343 stocks rise and 715 fall on the NYSE. NASDAQ saw 1814 rise and 620 fall.
The S&P 500 is now below its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and above its 200 day exponential moving average.
The 10 day spread moving average of breadth is now negative and we are in cash mode. The Madison Market Timing Indicator moved to buy on July 8th which can be found on www.superstockinvestor.com.
July Existing Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 5.18 million from 5.08 million.
Congress is on vacation until after Labor Day.
Federal Reserve Open Market Committee (FOMC) minutes from the July meeting are due at 2:00 p.m. EDT
Conference & Analyst Meetings
No analyst Meetings of note HOG. Citi 1 on 1 MLP/Midstream Infrastructure Conference. Morgan Stanley Semiconductor Corporate Access Day.
Conference of Note
M & A News
Key Upgrades and Downgrades
|Banc of America|
|HSBC||KPLUF MOS POT|
|Sun Trust Robinson Humphrey|
|Robert W. Baird|
|Sun Trust RH|
|Jesup & Lamont|