Futures Lower

August 28, 2015

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck none of note.

In After Hours Trading: SWHC+.09, GME+.07, OVTI+.07, ULTA+.03, VEEV+.02, ADSK+.02.

What’s Happening This Morning

U.S. futures: S&P -15.75, Dow Jones -137, NDX -33 and Russell 2000 -6.80 with fair value lower lessening the pain. Asia and Europe higher today.

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

Leaders yesterday included Utilities. Over the last week, the leader is Utilities. Over the last month the leader is Utilities. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): none of note.

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

Rags & Mags: Inside Wall Street

USA Today: Puerto Rico braces for Tropical Storm Erika. A new drug from Amgen (AMGN) could lower cholesterol levels. Nine beat up stocks AAL GM HPQ JCI F PWR MOS XRX FTI.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BIG+.06.

Current Morning missing: YGE.

Data Points

Yesterday saw 2825 stocks rise and 328 fall on the NYSE. NASDAQ saw 2218 rise and 654 fall.

The SP 500 is back below its 50 day exponential moving average and below the 200 day exponential moving average. The Russell 2000 is still below its 50 day moving exponential average and is still below its 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 3107 (-258) stocks are higher for the year and 3755 (+269) are lower. Updated 7/31/15 Close. Prior Update 7/1/15 close.

Economics

July Personal Income is due out at 8:30 a.m. EDT and is expected to rise to 0.5% from 0.4%. Then at 10:00 a.m. EDT, the August Michigan Sentiment is due out and expected to remain at 92.9.

Politico

Federal Reserve Vice Chairman Stanley Fischer speaks Saturday from the Jackson Hole Conference.

Conference & Analyst Meetings

Meetings or announcements of note LABC PNM MYOS.

Conference of Note

The Kansas City Federal Reserve Jackson Hole Conference continues.

M & A News

Abbott Laboratories (ABT) will not bid for St. Jude Medical (STJ) as we reported yesterday.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup PUBGY DMTGY VIVHY
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Stifel LOCO QUNR HABT GLNG CTRP MDCO
Sterne Agee
Jefferies
Piper Jaffray
Needham
Raymond James R KNX

Futures Higher

August 26, 2015

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck TLMR.

In After Hours Trading: JKHY+.07, LCI+.04, HEI-.02.

What’s Happening This Morning

U.S. futures: S&P +32.50, Dow Jones +257, NDX +74 and Russell 2000 +12.20 with fair value lower helping the open. Asia mixed and Europe lower following the U.S. selloff on Tuesday.

Copper,silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield +3. Prices as of 7:55 a.m. EDT.

Leaders yesterday included Utilities. Over the last week, the leader is Utilities. Over the last month the leader is Utilities. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): AVGO, PSEC, NQ, WDAY, GES, VNET, PVH, WSM.

Due Thursday morning (by avg. trade volume descending): SDRL, DG, YGE, TD, BURL, TIF, PLL, SIG, PDCO, SJM, MIK.

Rags & Mags: Inside Wall Street

USA Today: Battered global financial markets seem to reclaim lost ground. China stimulus is the first step to market stablization. Federal Reserve is no where amid market chaos.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ANF+.17, EXPR+.09, CHS+.03, FRO-.08.

Current Morning missing: BF.B.

Futures On The Rebound

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck TLMR.

In After Hours Trading: JKHY+.07, LCI+.04, HEI-.02.

What’s Happening This Morning

U.S. futures: S&P +32.50, Dow Jones +257, NDX +74 and Russell 2000 +12.20 with fair value lower helping the open. Asia mixed and Europe lower following the U.S. selloff on Tuesday.

Copper,silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield +3. Prices as of 7:55 a.m. EDT.

Leaders yesterday included Utilities. Over the last week, the leader is Utilities. Over the last month the leader is Utilities. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): AVGO, PSEC, NQ, WDAY, GES, VNET, PVH, WSM.

Due Thursday morning (by avg. trade volume descending): SDRL, DG, YGE, TD, BURL, TIF, PLL, SIG, PDCO, SJM, MIK.

Rags & Mags: Inside Wall Street

USA Today: Battered global financial markets seem to reclaim lost ground. China stimulus is the first step to market stablization. Federal Reserve is no where amid market chaos.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ANF+.17, EXPR+.09, CHS+.03, FRO-.08.

Current Morning missing: BF.B.

Data Points

Yesterday saw 1389 stocks rise and 1740 fall on the NYSE. NASDAQ saw 1385 rise and 1495 fall.

The SP 500 is back below its 50 day exponential moving average and below the 200 day exponential moving average. The Russell 2000 is still below its 50 day moving exponential average and is still below its 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 3107 (-258) stocks are higher for the year and 3755 (+269) are lower. Updated 7/31/15 Close. Prior Update 7/1/15 close.

Economics

July Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to -0.3% from 3.4%

Weekly Mortgage Applications rose +0.2% from +3.6% a week ago,out at 7:00 a.m. EDT.

Weekly Crude Inventories out at 10:30 a.m. EDT.

Politico

Federal Reserve New York President Dudley speak at 10:00 a.m. EDT.

Conference & Analyst Meetings

Meetings or announcements of note Yahoo Developers Conference (YHOO). Three Part Advisors Midwest IDEAS Investor Conference. Morgan Stanley China Internet & E-Commerce Conference.

Conference of Note

Yahoo Developers Conference.

M & A News

Schlumberge (SLB) to buy Cameron International (CAM) for $66 a share, over a 50% premium.

Rebel Yell: Computer & Hi-Frequency Trading: Makes the Market Buck Up & Down Like an Angry Rodeo Bull

Smartly leverage the volatility, don’t fear it.

Computer trading and the financial enterprise news media’s megaphone corrections and rallies that took months now can happen in a single day.

The Dow’s plunged lower by 1,000 points on Monday morning’s open was immediately followed by dramatic intraday swings that included a rally of 850 points. The rally was so strong many thought including myself thought the Dow might even go in to the green.

Alas that rally was but a brief respite. The Dow then fell lower by 700 points only to bounce and flutter down 350 points, but leaned south and ended down 588 points.

Today we did go green until the end of the day giving up all gains before closing lower by -1.35%. Since last Wednesday the S&P 500 has lost -0.83%, -2.11%, -3.19%, -3.94% and today’s -1.35%.

This kind of volatility is driven by lower and lower commissions, fees and being fused with computer trading based on algorithms. It services as possible proof of Artificial Intelligence (AI) being able to threaten human existence. Aside from that, the three day decline is so oversold that Erlanger’s weekly indicators are in an oversold region not visited by the market since October of 2011.

The Dow Jones Industrial Average now has a 13 P/E Ratio. You expect a crash when the P/E climbs over 20, and is most often accompanied by an inverted yield curve. We do not expect one when the P/E is 13.

If you have the guts to go long using two and three week forward options on the Dow and S&P this is an potentially a very rare money making opportunity. A genuine chance to turn $20,000 into $40,0000 or even more. We could climb 65 S&P points in the next 10 days AND Still fall 69 points the following three days. The #$%^&*! computers do not care.  The siren song of a press that needs to make money with the latest sensationalized crisis as viewership is at all time lows.

The media needs to pay the bills and make the stockholders happy. The Movie Network missed the impact of the 21st Century’s media cacophony on the financial markets, we are now living.

http://www.optionsindextrader.com/page/oit/

If you’re not a subscriber of Options Index Trader, then now is the time to jump on board. Click on the link above to review. This is the kind of market Geoff Garbacz and his quantitative sentiment methodology is especially suited for to help you claw your way back to gains in 2015.

 

Today’s WTF: Fegos Are A Terrible Thing

In an interview with CNBC, Former Federal Reserve Chairman Richard Fisher said that, “markets today were quite orderly”. Hmm….last time I checked when Ford (F) and General Electric (GE) open down more than 20% off the prior day close that is not orderly. On top of which, most SPY options did not have bids and offers printing with instead lots of 00’s until well past 12:00 p.m.

http://video.cnbc.com/gallery/?video=3000410616

The entire problem with the Federal Reserve is the “fego” that top Federal Reserve officials have, i.e. they know what is best for the masses. Funny how their forecasting abilities are so pathetic and we the “little people” are supposed to trust in them. Saturday The Wall Street Journal published an editorial entitled , “A Fine Fed Mess”.

From 2011 onward, the Federal Reserve Board  projections were as follows 2011: (3.0-3.6% versus 1.6% actual), 2012: (2.5-2.9% versus 2.2% actual), 2013: (2.3-3.0% versus 1.5% actual), 2014: (2.8-3.2% versus 2.4% actual). Bravo! This year the estimate is 2.6-3.0% versus 1.5% (first half annualized). So why should I put my faith behind them?

In my 29 years of working, I can honestly say the only time I have seen less order would be the Stock Market Crash of 1987 or the May 2010 Flash Crash. Clearly, the issues of 2010 have not been fixed. Just my two cents worth and for the record, markets were not orderly today

 

Futures Lower

August 24, 2015

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck none of note.

In After Hours Trading: none of note.

What’s Happening This Morning

U.S. futures: S&P -55.25, Dow Jones -527, NDX -190 and Russell 2000 -32.60 with fair value higher hurting the open. Asia lower and Europe lower following the U.S. selloff on Friday.

Copper,silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -7. Prices as of 7:55 a.m. EDT.

Leaders yesterday included Utilities. Over the last week, the leader is Utilities. Over the last month the leader is Utilities. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

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

Due Tuesday morning (by avg. trade volume descending): BBY, TOL, EJ, DSW, BMO, LEJU, SOL, VAL.

Rags & Mags: Inside Wall Street

USA Today: Wall Street set for a brutal open. 5 issues for Congress when they return. Apple (AAPL) enters a bear market. Annuities gain popularity with Baby Boomers.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): TOUR+.18.

Current Morning missing: none of note.

Data Points

Yesterday saw 446 stocks rise and 2679 fall on the NYSE. NASDAQ saw 836 rise and 2024 fall.

The SP 500 is back below its 50 day exponential moving average and now below the 200 day exponential moving average. The Russell 2000 is still below its 50 day moving exponential average and is back below its 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 3107 (-258) stocks are higher for the year and 3755 (+269) are lower. Updated 7/31/15 Close. Prior Update 7/1/15 close.

Economics

Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and new home sales, consumer confidence, durable goods, Q2 GDP, personal income and Michigan Sentiment.

Politico

German Chancellor Merkel and French President Hollande meet with Ukrainian President Poroshenko in Berlin to discuss the ongoing conflict in the Ukraine.

A global financial crisis is playing out due to weaker growth in China and a series of currency devaluations.

Federal Reserve Atlanta President Lockhart (Hawk) speaks at 3:55 p.m. EDT.

Conference & Analyst Meetings

No meetings or announcements of note today. TD Ameritrade Fifth Annual National Investor Education Conference. Morgan Stanley China Internet & E-Commerce Conference.

Conference of Note

10th Annual Immunotherapy & Vaccine Summit

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup
Merrill Lynch AZO VLO MPC HFC
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Stifel TUES VTVT
Sterne Agee
Jefferies CHU ZEUS BTLCY
Piper Jaffray ANF
Needham
Raymond James
Cantor Fitzgerald
Friedman Billings
Argus MDRX
Societe General
Robert W. Baird EVEP

Futures Lower

August 19, 2015

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck AER MNOV ORBC UDR .

In After Hours Trading: RPD+.23, ADI+.03, WB+.03, CSIQ+.02, SINA-.02, DV-.04.

What’s Happening This Morning

U.S. futures: S&P -6.75, Dow Jones -68, NDX -11.75 and Russell 2000 -5.60 with fair value flat. Asia lower ex Shanghai and Europe lower.

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

Leaders yesterday included Technology, Healthcare, Consumer Goods and Industrial Goods. Over the last week, the leader is Healthcare. Over the last month the leader is Healthcare. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): NTAP, YOKU, JMEI, LB, MOMO, WUBA, KEYS, SMTC, SNPS.

Due Thursday morning (by avg. trade volume descending): SHLD, JKS, ANN, NM, SSI, MSG, TTC.

Rags & Mags: Inside Wall Street

USA Today: German Parliament approves Greek bailout. Chinese mainland stocks dropped another -5% before rallying to close higher by 1%. Gas prices are staying higher than the drop in the price of oil. but they could drop sooner than later. Walmart (WMT) post earnings analysis and the big problems are anemic revenue growth and declining return on equity.

Bloomberg: Why a rate rise may note spook U.S. consumers. Morgan Stanley sees two year notes hitting a peak last seen in 2011. Housing rebound to last beyond Fed liftoff. Colorado put methane caps on wells and it cut emissions. Vietnam devalues for the third time this year.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): HRL+.02, LOW-.04, BZUN-.78.

Current Morning missing: AEO, EV, TGT.

Futures Lower

August 18, 2015

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck ARML BNTC CNCE TRU.

In After Hours Trading: URBN+.03, A+.03, IVR-.06.

What’s Happening This Morning

U.S. futures: S&P -4.75, Dow Jones -47, NDX -13 and Russell 2000 -2.70 with fair value flat. Asia and Europe lower.

Copper and silver lower and gold flat. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield flat. Prices as of 7:45 a.m. EDT.

Leaders yesterday included Technology, Healthcare, Consumer Goods and Industrial Goods. Over the last week, the leader is Healthcare. Over the last month the leader is Healthcare. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): ADI, SINA, WB, RPD, DV.

Due Wednesday morning (by avg. trade volume descending): SPLS, LOW, TGT, AEO, IDRA, BZUN, HRL, EV.

Rags & Mags: Inside Wall Street

USA Today: Asian markets were weak again with mainland China stocks dropping 6.2% its largest drop in three weeks. IRS hacking was twice as big as originally believed. Oil prices drop to a six year low. New York Times hammering of Amazon (AMZN) continues.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CMCM+.98, TSL+.16, HD+.02, WMT-.04.

Current Morning missing: DANG, DKS, HAIN, TJX.

Data Points

Yesterday saw 1879 stocks rise and 1194 fall on the NYSE. NASDAQ saw 1758 rise and 1102 fall.

The SP 500 is back aboveits 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is still below its 50 day moving exponential average and is back above its 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 3107 (-258) stocks are higher for the year and 3755 (+269) are lower. Updated 7/31/15 Close. Prior Update 7/1/15 close.

Economics

The U.S. Treasury holds a 1 year note auctions that will raise $22 billion.

Politico

Conference & Analyst Meetings

Meetings or announcements of note today WNC.

Conference of Note

Enercom Oil & Gas Conference

M & A News

Futures A Tad Lower

August 14, 2015

In After Hours Trading

IPOs On Deck none of note. Secondaries on deck include AFMD BNK BNTC CVT ESNT TSLA WLH.

In After Hours Trading: DAR+.07, KING+.07, YY+.06, AZPN+.05, PAAS+.04, JWN+.03, RARE-.18.

What’s Happening This Morning

U.S. futures: S&P -5.25, Dow Jones -30, NDX -11 and Russell 2000 -2.90 with fair value flat. Asia and Europe lower.

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

Leaders yesterday included Technology, Healthcare, Consumer Goods and Industrial Goods. Over the last week, the leader is Healthcare. Over the last month the leader is Healthcare. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): none of note.

Due Monday morning (by avg. trade volume descending): EL.

Rags & Mags: Inside Wall Street

USA Today: Rumors are flying that former Vice President Al Gore may enter the race for President. Greek Parliament approves third bailout. Goldman Sachs (GS) buys General Electric (GE) savings unit with $16 billion of deposits. Banks fear China slow down may delay Federal Reserve from raising rates allowing banks to make more money.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): JCP +.09.

Current Morning missing: none of note.

Data Points

Yesterday saw 1218 stocks rise and 1825 fall on the NYSE. NASDAQ saw 1251 rise and 1600 fall.

The SP 500 is back below, again, its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is still below its 50 day moving exponential average and is now back below its 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 3107 (-258) stocks are higher for the year and 3755 (+269) are lower. Updated 7/31/15 Close. Prior Update 7/1/15 close.

Economics

July PPI is due out at 8:30 a.m. EDT and are expected to fall to 0.1% from 0.4%. Then at 9:15 a.m. EDT, the July Industrial Production numbers are due out and expected to fall to 0.1% increase from 0.2%.

Finally, at 10:00 a.m. EDT, the August Michigan Sentiment is expected to rise to 93.9 from 93.1.

Politico

Secretary of State Kerry visit Cuba to open the U.S. Embassy.

Conference & Analyst Meetings

Meetings or announcements of note today RPTP MU. Canaccord Genuity Annual Growth Conference.

Conference of Note

American Statistical Association Joint Statistical Meeting Expo 2015.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan WEX
Goldman Sachs
Morgan Stanley NTRA
Deutsche Bank
Citigroup
Merrill Lynch JPEP
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Stifel
Sterne Agee
Jefferies
Monness Crespi & Hardt
Needham CRNT

Futures On The Bend After A Couple Days Of Weakness

August 13, 2015

In After Hours Trading

IPOs On Deck Conifer Holdings (CNFR)and Houlihan Lokey (HLI). Secondaries on deck include CTRE SHAK ITEK NGHC POST.

In After Hours Trading: SEDG+.09, FLO+.03, CSCO+.03, MIDD+.02, NWSA+.02, RNDY+.02, JUNO-.03, NTES-.03, CPA-.05, ECR-.08, PODD-.16.

What’s Happening This Morning

U.S. futures: S&P +6.00, Dow Jones +51, NDX +16.75 and Russell 2000 +5.90 with fair value flat. Asia higher and Europe lower ex France.

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

Leaders yesterday included Technology, Healthcare, Consumer Goods and Industrial Goods. Over the last week, the leader is Healthcare. Over the last month the leader is Healthcare. Over the last three months the leader is Healthcare. Six month and one year leader is Healthcare. YTD leader is Healthcare.

Earnings Expected

Earnings due after the close (by avg. trade volume): AMAT, PAAS, EXXI, SINA, DAR, KING, YY, JWN, LOCO, WX, AZPN, RARE.

Due Friday morning (by avg. trade volume descending): JCP.

Rags & Mags: Inside Wall Street

USA Today: Today is the first day of the PGA Championship at Whistiling Straits in Kohler, Wisconsin. We like Dustin Johnson. China cut the yuan for a third day in a row. What can kill the bull market. NBC Universal takes a $200 million stake in VOX.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): VSTO+.07, AYA+.05, CRNT+.04, DDS+.03, STOR+.03, KSS-.09, TRCO-.34.

Current Morning missing: AAP, DANG, PFNX, QIWI.

Data Points

Yesterday saw 1535 stocks rise and 1562 fall on the NYSE. NASDAQ saw 1240 rise and 1590 fall.

The SP 500 is back below, again, its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is still below its 50 day moving exponential average and is now back below its 200 day exponential moving average.

The 10 day spread moving average of breadth is in cash. The Madison Market Timing Indicator is still invested.

YTD 3107 (-258) stocks are higher for the year and 3755 (+269) are lower. Updated 7/31/15 Close. Prior Update 7/1/15 close.

Economics

July Retail Sales are due out at 8:30 a.m. EDT and are expected to rise to an increase of 1.0% from -0.3%.

Politico

European Central Bank (ECB) released its latest minutes and noted that QE remains on track and inflation projections are consistent with target over medium term.

Conference & Analyst Meetings

Meetings or announcements of note today GWW PRSN. Jefferies Annual Industrial Conference. Canaccord Genuity Annual Growth Conference.

Conference of Note

American Statistical Association Joint Statistical Meeting Expo 2015.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs GPRE
Morgan Stanley TMK ICPT KERX RLYP
Deutsche Bank
Citigroup
Merrill Lynch RAD