{"id":10095,"date":"2016-12-14T08:45:36","date_gmt":"2016-12-14T13:45:36","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10095"},"modified":"2016-12-14T08:45:36","modified_gmt":"2016-12-14T13:45:36","slug":"before-the-open-dec-14-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10095","title":{"rendered":"Before the Open (Dec 14)"},"content":{"rendered":"

Good morning. Happy Wednesday. Happy Fed Day. <\/span>
\n The Asian\/Pacific<\/strong> markets leaned to the downside. China, New Zealand and Indonesia were notable downside movers; Australia did well. Europe<\/strong> is currently mostly down. Russia and Greece are down more than 1%; France, Belgium, Austria, Turkey, Finland, Spain and Portugal are also weak. Hungary is doing well. Futures in the States<\/strong> point toward a flat open for the cash market. <\/span>
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\n The dollar is down. Oil and copper are down. Gold and silver are up. Bonds are up. <\/span>
\n Today is Fed Day. It’s a virtual lock rates get targeted high. The bigger question is whether this is a one-off event or the beginning of a trend. And if it’s the beginning of a trend, what will the pace be next year? <\/span>
\n Otherwise, all the indexes are not at all-time highs, and the giddiness on social media is growing. Lots of people talking about Dow 20,000 and higher. It makes me think a big slap in the face is needed to bring these people back to earth. <\/span>
\n Overall the market looks good, but it’s extremely hard to chase prices higher right now. Risk\/rewards aren’t there. <\/span>
\n A rate hike is priced in, but you never know when a major news event will act as a turning point of inflection…for absolutely no reason. Anything goes the next day or so…even though the Fed is likely to do what Wall Street is anticipating. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Qualcomm (QCOM +1.27%) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan Chase with a price target of $70.<\/span>
\n Pridential Financial (PRU +0.30%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley.<\/span>
\n Nordson (NDSN -0.38%) rallied 7% in after-hours trading after it reported Q4 adjusted EPS of $1.39, better than consensus of $1.24, and said it sees Q1 EPS of 74 cents-84 cents, above consensus of 70 cents.<\/span>
\n Hertz Global Holdings (HTZ +10.56%) declined 4% in after-hours trading after CEO John Tague said he will retire January 2 and Kathryn Marinello will become the new CEO.<\/span>
\n PBF Energy (PBF -0.56%) dropped 2% in after-hours trading after it announced a public offering of 10 million shares of common stock.<\/span>
\n Wells Fargo (WFC +0.11%) lost 1% in after-hours trading after U.S. regulators said the bank could not unwind its business in the event of a failure and rejected its living will for a second time.<\/span>
\n Callon Petroleum (CPE +4.00%) fell almost 3% in after-hours trading after it announced a public offering of 34 million shares of common stock.<\/span>
\n RCI Hospitality Holdings (RICK +3.09%) climbed nearly 4% in after-hours trading after it reported Q4 adjusted EPS of 31 cents, better than consensus of 21 cents.<\/span>
\n HEICO (HEI -0.68%) slid 1% in after-hours trading after it reported Q4 net sales of $363.3 million, below consensus of $372.5 million.<\/span>
\n Wabash National (WNC -1.14%) gained almost 2% in after-hours trading after it reinstated its quarterly dividend of 6 cents per share, its first dividend in 8 years.<\/span>
\n Peak Resorts (SKIS -0.98%) jumped 15% in after-hours trading after the U.S. CIS gave approval needed for funds raised in Mount Snow’s EB-5 offering to be released from escrow immediately.<\/span>
\n Global Eagle Entertainment (ENT +1.74%) surged nearly 20% in after-hours trading after Southwest Airlines extended the use of Global Eagle’s Airconnect connectivity system and services.<\/span>
\n Eagle Bulk Shipping (EGLE -1.92%) slumped 9% in after-hours trading after it announced a $100 million private placement of approximately 22 million shares of common stock.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 8:30 Producer Price Index
\n 8:30 Retail Sales
\n 9:15 Industrial Production
\n 10:00 Business Inventories
\n 10:30 EIA Petroleum Inventories
\n 2:00 PM FOMC Announcement
\n 2:00 PM FOMC Forecast
\n 2:00 PM Chairman Press Conference<\/span><\/span><\/span><\/span><\/span><\/span><\/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 Wednesday. Happy Fed Day. The Asian\/Pacific markets leaned to the downside. China, New Zealand and Indonesia were notable downside movers; Australia did well. Europe is currently mostly down. Russia and Greece are down more than 1%; France, Belgium, Austria, Turkey, Finland, Spain and Portugal are also weak. Hungary is doing well. Futures […]<\/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\/10095"}],"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=10095"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10095\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}