{"id":10091,"date":"2016-12-12T08:43:53","date_gmt":"2016-12-12T13:43:53","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10091"},"modified":"2016-12-12T08:43:53","modified_gmt":"2016-12-12T13:43:53","slug":"before-the-open-dec-12-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10091","title":{"rendered":"Before the Open (Dec 12)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a great weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. China dropped 2.5%, Hong Kong 1.4%, and India and Taiwan were also weak. Japan did well. Europe<\/strong> is currently mixed and little changed. Norway, Russia, Finland and Italy are doing well. Poland, Turkey and Denmark are weak. Futures in the States<\/strong> point towards a flat open for the S&P and a down open for the Nas. <\/span>
\n—————
\nLB Weekly<\/a> – the indexes, the breadth indicators, a look at the big picture<\/span>
\nSector Breakdown & Trading Ideas<\/a> – the oil set-ups are profiled.
\n—————<\/span>
\n The dollar is down. Oil is up big; copper is down. Gold and silver are down. Bonds are down. <\/span>
\n The big news over the weekend comes from the oil space. Non OPED members have agreed to cut oil production 558K barrels\/day – short of the target 600K but still a great sign that both OPEC and non OPEC producers are on board with the plan to limit supply to put a floor under the price. Over the weekend I updated my oil picks. You can check them out here<\/a>. It’s been a very generous group the last few months. <\/span>
\n Oil jumped a couple bucks and settled into a range between 53.5 and 54.5 in overnight action. Many oil stocks are posting big gains in premarket trading. <\/span>
\n Here’s the daily crude chart heading into today. The commodity will be at a 17-month high at today’s open. <\/span>
\n\"\"
\n Long term the market looks great. The trend should continue into 2017. Short term anything goes, especially with the FOMC meeting coming up. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n ConocoPhillips (COP +1.99%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Cowen with a 12-month target price of $59.<\/span>
\n Cheniere Energy Partners LP Holdings LLC (CQH -3.02%) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a target price of $28.<\/span>
\n The Brink’s Company (BCO -1.33%) was upgraded to ‘Outperform’ from ‘Neutral’ at Macquarie Research with a 12-month target price of $50.<\/span>
\n Seattle Genetics (SGEN -3.08%) was downgraded to ‘Neutral’ from ‘Outperform’ at Credit Suisse.<\/span>
\n Hanesbrands (HBI +0.04%) was upgraded to ‘Buy’ from ‘Neutral’ at D.A. Davidson & Co. with a 12-month target price of $29.<\/span>
\n Itegra LifeSciences Holdings (IART +0.71%) was rated a new ‘Buy’ at UBS with a 12-month target price of $96.<\/span>
\n MiMedx Group (MDXG +1.16%) was rated a ‘Sell’ at UBS with a 12-month target price of $9.<\/span>
\n People familiar with the matter said that Cornerstone OnDemand (CSOD -0.28%) is said to mull a sale amid activist pressure.<\/span>
\n A U.S. International Trade Commission Judge said that Arista Networks (ANET -1.41%) infringed on 2 Cisco patents.<\/span>
\n Axovant Sciences Ltd (AXON -0.56%) jumped 5% in after-hours trading after it said data from a Phase 2b trial shows the addition of its Intepirdine drug to standard therapy may help people with Alzheimer’s disease maintain independence longer.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 1:00 PM Results of $24B, 3-Year Note Auction
\n 1:00 PM Results of $20B, 10-Year Note Auction
\n 2:00 PM Treasury Budget<\/span><\/span><\/span><\/span>
\nToday’s Earnings here<\/a><\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Monday. Hope you had a great weekend. The Asian\/Pacific markets closed with a lean to the downside. China dropped 2.5%, Hong Kong 1.4%, and India and Taiwan were also weak. Japan did well. Europe is currently mixed and little changed. Norway, Russia, Finland and Italy are doing well. Poland, Turkey and Denmark […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10091"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10091"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10091\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}