In After Hours Trading
IPOs on tap this week but not today Aquinox Pharmaceuticals, Coupons.com, Recro Pharma and TriplePoint Venture Growth BDC. Secondaries on deck this morning ACAD BLMN CERE CG RATE .
Reported after the close: BIOL -.02 CWST -0.14 GA +.05 SN -.08 SPTN +.15 VVTX -.02 among others.
What’s Happening This Morning
US futures: S&P +3, Dow Jones +31 NDX +4.70 with fair value a tad higher with no impact on open. Asia higher. Europe higher. Copper, silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield +1. Prices as of 7:30 a.m. EST
Due after the close among others QIHU HRB COO THO FNSR TFM ZQK ALOG NQ AMBA DEPO ZUMZ CKP ZUMZ SCVL BREW JMBA SKUL. Due tomorrow morning FL PWE VLP GCO PPHM among others.
Rags & Mags: Inside Wall Street
USA Today: Bidders for Safeway assets. The federal government has ordered General Motors (GM) to explain delays in recalls. Consumers play to spend less on eating out.
NY Times: Facebook (FB) caught in debate on attempt to limit gun sales over its platform. Feature story on hedge fund manager Paul Tudor Jones.
WSJ: Brokers fail to disclose bankruptcies or criminal charges leaving investors clueless. Obama gives two year reprieve on “substandard plans” caving to pressures of mid term elections.
Reported Earnings This Morning
PLCE +.01 CIEN +.07 COST -.12 FLY +.02 JOY -.15 SFE -.21 SSI +.02 SPLS -.06 SNSS +.05
Yesterday saw 1457 stocks rise and 1541 fall on the NYSE. NASDAQ saw 1270 rise and 1331 fall.
The S&P 500 is now above its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is back above its 50 day moving exponential average and above its 200 day exponential moving average.
The 10 day spread moving average of breadth is back to buy. The Madison Market Timing Indicator is a buy.
Challenger Gray Job Cuts totaled 41,835, lowest since February 2000, and Weekly Jobless Claims due at 8:30 a.m. EST. Q4 Productivity is due at 8:30 a.m. EST and is expected to drop to 2.5% from 3.2%.
Federal Reserve New York President Dudley participate in a roundtable before the open while Federal Reserve Philadelphia President Plosser speaks in London at 1:00 p.m. EST and Federal Reserve Atlanta President Lockhart speaks in Washington D.C. after the close.
The Bank of England (BOE) concludes its two day meeting with no interest rate change. The European Central Bank (ECB) meets and will announce its latest interest rate decision before the open of U.S. trading. Press conference with ECB President Mario Draghi at 8:30 a.m. EST.
Conference & Analyst Meetings
Analyst meetings of note or calls today STR HUN G COL A VRSK LSTR. Morgan Stanley Technology, Media and Telecom Conference. Bank of America Merrill Lynch 2014 Refining Conference. Wells Fargo 5th Annual Exploration & Production 1X1 Forum.
Conference of Note
World Bio Markets.
M & A News
Key Upgrades and Downgrades
|Goldman Sachs||AXLL VNO BXP JLL|
|Banc of America|
|Robert W. Baird|
|Sun Trust RH|
|Jesup & Lamont|