In After Hours Trading
We expect filings and pricings during the week for secondaries but right now nothing on tap.
What’s Happening This Morning
US futures: (S&P -2, Dow Jones -18, NDX no change with fair value slightly higher hurting the open. Asia and Europe mixed. Copper higher and gold lower with WTI Crude higher and Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury Yield no change. Prices as of 7:55 a.m. EST.
Of note this week QIHU BNS BMO WDAY WSM JOY RY TD YGE SOL. Due tomorrow morning BNS BMO TIF DCI DSW SAFM BWS MOV RGS LDK.
Rags & Mags: Inside Wall Street
We are back to our own coverage of the major papers:
NY Times: AMZN expands presence in downtown Seattle. Mobile and cloud computing could face same future as MSFT one day.
Wall Street Journal: Saudi Prince Bandar seeks to topple Syrian President Assad. Crude oil being moved by trucks, barges and trains due to pipeline capacity shortage. 200 colleges to take post college SAT.
USA Today: Natural gas moves from boom overkill.
Reported Earnings This Morning
Thursday saw 2039 stocks rise and 988 fall on the NYSE. NASDAQ saw 1344 rise and 1155 fall.
The S&P 500 is now back above 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.
Releases of note this week include weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims with durable goods, consumer confidence, Q2 GDP, personal income, Chicago PMI and Michigan Sentiment.
July Durable Goods are due out at 8:30 a.m. EDT and are expected to drop to -3.7% from 3.9%.
Congress is on vacation until after Labor Day thankfully.
Thursday sees St. Louis Federal Reserve President Bullard and Richmond Federal Reserve President Lacker speak at separate venues.
Conference & Analyst Meetings
Analyst Meetings of note VMW.
Conference of Note
M2M Evolution Conference & Expo.
M & A News
AMGN to buy ONXX for $125 a share in cash. Pritzker family to buy TMS for $17.50 a share.
Key Upgrades and Downgrades
|Banc of America|
|Robert W. Baird|
|Sun Trust RH|
|Jesup & Lamont|