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 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.
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.
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.
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
|Banc of America|
|Stifel||LOCO QUNR HABT GLNG CTRP MDCO|
|Raymond James||R KNX|