Tuesday, January 31, 2012
Futures Weaker On European Concerns
In After Hours TradingDelta Airlines (DAL) considering a bid for US Airways (LCC) or American (AMR).
What's Happening This MorningUS futures (S&P -8.60, DJI -72, NDX -15.50). Asia and Europe lower. Copper and gold lower with WTI Crude Futures lower. $ is higher vs euro, higher vs. pound and lower vs. yen. US ten-year Treasury Yield -.04.
Earnings ExpectedDue after the close BIDU MCK SLG HOLX TGI GGG KRC RCII ALGN OLN SFG MSTR among others. Due tomorrow morning PFE UPS LLY DHR BIIB ITW TYC ADM PCAR MHP VLO MPC MAT LLL HP among others.
Rags & Mags: Inside Wall StreetWSJ: 3 months after MF Global collapse, monies might not be recovered. IMF reviewing China currency for being undervalued. NYT: U.S Drones still flying over Iraq upset country leaders.USA Today: Cattle prices to rise in 2012 due to small herd size.
Reported Earnings This MorningTNB WWW beat estimates.
Data PointsYesterday saw stocks 1929 rise and 1041 fall on the NYSE. NASDAQ saw 1599 rise and 872 fall. The S&P 500 is now above its 50 day moving average and 200 day moving average. The 10 day spread moving average of breadth is now positive. We are now invested on the Madison Market Timing Indicator.
EconomicsDecember Personal Income is due out at 8:30 a.m. EDT and is expected to rise to 0.4% from 0.1%.
PoliticoEuropean Union (EU) leaders hold a summit in Brussels with French President Sarkozy, German Chancellor and Italian President Monti meeting ahead of the summit.
Conference & Analyst MeetingsAllThingsD Dive Into Media Conference in California.
Conference of NoteAllThingsD Dive Into Media Conference in California.
M & A NewsABB to buy TNB for $72 (see 8:30AM call). Valora Holding AG to buy Convenience Concept GmbH(see 9:00AM call). Siemens to buy Ruggedcom for $33 (see 9:00AM call).
Key Upgrades and Downgrades
Today's Superstock Investor Stock Scorecard:
SUNCOR ENERGY INC (SU)
Articles That Matter:
Stocks Up On EU Pact
Investors like the conclusion of the EU Summit yesterday and the pact that appears to be created.