July 6, 2015
In After Hours Trading
IPOs On Deck this week, none of note. Secondaries on deck this week ESES NRX.
In After Hours Trading: none of note.
What’s Happening This Morning
U.S. futures: S&P -16.75, Dow Jones -156, NDX -40.75 and Russell 2000 -10.80 with fair value a tad lower. Asia lower ex Shanghai which was higher and Europe lower.
Copper and silver lower and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield -8. Prices as of 7:55 a.m. EDT.
All Sectors higher ex Conglomerates that fell -0.9% yesterday. For the month, only Healthcare is higher 0.7%.
Earnings due after the close (by market cap descending): none of note.
Due Tuesday morning (by avg. trade volume descending): MSM.
Rags & Mags: Inside Wall Street
USA Today: Greece’s Finance Minister resigns to help reach a deal. Greek exit rises to 65% predicts Strategist Kit Juckles. Global markets sink after Greek Referendum results.
Reported Earnings This Morning
Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.
Current Morning missing: none of note.
Yesterday saw 1549 stocks rise and 1520 fall on the NYSE. NASDAQ saw 1037 rise and 1787 fall.
The SP 500 is back below its 50 day exponential moving average and is still above the 200 day exponential moving average. The Russell 2000 is back below its 50 day moving exponential average and is still above its 200 day exponential moving average.
The 10 day spread moving average of breadth has moved back to cash. The Madison Market Timing Indicator is still invested.
YTD 3849 (-229 stocks are higher for the year and 3010 (-277) are lower. Updated 6/1/15 Close. Prior Update 5/04/15 close.
June ISM Services are released at 10:00 a.m. EDT and is expected to rise to 56 from 55.7.
Greek Referendum (i.e. the Greferendum) results in and the vote is NO. Post vote, the Troika will relook at aid to Greece. The situation is fluid.
Conference & Analyst Meetings
Meetings or announcements of note today none of note. CIBC Annual Unlock The Rock: Stampefe Energy Conference and Scotiabank Calgary Stampede Conference.
Conference of Note
Expo Milano 2015
M & A News
Aetna (AET) to buy Humana (HUM) for $230 a share in cash and stock.
Key Upgrades and Downgrades
|Banc of America|
|Sanford C. Bernstein|
|Robert W. Baird||EMES|
|Sun Trust RH|