Earnings Season Now In Full Force
In After Hours TradingATHR CCK CHP CR DEL IBM LNCR PKG PNFP STLD beat estimates and FALC ICUI WERN ZION missed estimates. GILD terminates a Pase II Clinical Trial for Chronic Hepatitis.
What's Happening This MorningAsia and Europe higher. S&P 500 and NASDAQ 100 futures are higher by 4.00 and 6.50. Brent Crude is at $85.19 with gold at $1142.10 and natural gas at $3.96. The Up Dollar ETF (UUP) closed at $23.69 higher by 0.17%. Currencies see the Yen at 92.87 with the Pound at .65 and Euro at .74. The 20 Year Treasury ETF (TLT) closed at $89.64 lower by -0.24%. High yield bonds and corporate investment grade bonds lower.
Earnings ExpectedEarnings of note expected after the close AAPL GILD YHOO SYK JNPR STX CREE ALTR VMW EW NBR TSS TUP WCN TPX FULT.
Rags & Mags: Inside Wall StreetNYT reports Banking Bill is struggling to get Republican support. Lehman Examiner reports SEC "sat on its hands". GM to pay off government loans. WSJ reports former Lehman CEO Dick Fuld to testify today. European officials to allow airlines to begin flying again today.
Reported Earnings This MorningAMTD AOS ASTE BK COH ETN GS KO OMC PH SNA UNH WWW beat estimates and BIIB EAT HOG NTRS RF missed estimates.
Data PointsYesterday saw 1343 stocks rise and 1735 fall on the NYSE. NASDAQ saw 1026 rise and 1676 fall. The S&P 500 is now above its 50 and 200 day moving average. The 10 day spread moving average of breadth has been poaitive but fading a bit here in the past ten days. We moved back to cash last week on the Madison Market Timing Indicator.
EconomicsAPI Crude/Oil/Gasoline/Distillate Inventories due out at 4:30 p.m. EDT.
Conference & Analyst MeetingsAnalyst Meetings with CIEN JCP LULU. Conferences include Oracle and Microsoft conferences.
Conference of NoteWatch how J.C. Penny (JCP) analyst meeting plays out and its impact on other retailers.
M & A News
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