{"id":10103,"date":"2016-12-19T08:50:56","date_gmt":"2016-12-19T13:50:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10103"},"modified":"2016-12-19T08:50:56","modified_gmt":"2016-12-19T13:50:56","slug":"before-the-open-dec-19-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10103","title":{"rendered":"Before the Open (Dec 19)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a great weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly down. Taiwan, Indonesia, Hong Kong and Singapore dropped the most. Europe<\/strong> currently leans to the downside. Greece is down more than 2%; Austria is also weak. Spain and Portugal are doing well. Futures in the States<\/strong> point towards a positive open for the cash market. <\/span>
\n—————
\nFREE eBook – Safe Bets: Keeping the Odds in Your Favor<\/a>
\n—————<\/span><\/strong><\/span>
\n The dollar is up slightly. Oil and copper are down. Gold is up; silver is down. Bonds are down. <\/span>
\n As is typically the case I don’t have anything to add to the comments made in LB Weekly<\/strong><\/a>, published over the weekend. In it I stated the market was doing well overall and I expected more new highs to be made in 2017, but at some point in the next couple week there is likely to be a pullback because several breadth indicators have started to diverge from the price action. <\/span>
\n This is a full week of trading, but things will certainly slow down Thursday and Friday. <\/span>
\n Next week is a black hole, where everyone is focused elsewhere. If companies want to announce things they hope nobody pays attention to, next week will be the time to do it. <\/span>
\n I’m in “don’t force trades” mode right now. The market has been on an incredible run. It can’t last forever, and the risk\/rewards aren’t great right now. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Bristol-Myers Squibb (BMY -0.05%) was upgraded to ‘Buy’ from ‘Hold’ at Jeffries with a price target of $69.<\/span>
\n ETrade (ETFC -2.04%) was upgraded to ‘Buy’ from ‘Hold’ at SunTrust Robinson Humphrey with a price target of $40.<\/span>
\n Costco (COST +0.19%) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup.<\/span>
\n Carnival Cruise Lines (CCL -2.76%) dropped over 4% in pre-market trading after it was downgraded to ‘Hold’ from ‘Buy’ at Berenberg.<\/span>
\n Ambac Financial Group (AMBC +0.15%) was downgraded to ‘Sell’ from ‘Neutral’ at MKM Partners.<\/span>
\n BorgWarner (BWA +0.71%) was downgraded to ‘Market Perform’ form ‘Outperform’ at Wells Fargo Securities.<\/span>
\n United Technologies (UTX +0.36%) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a 12-month target price of $125.<\/span>
\n Lowe’s (LOW -0.96%) was downgraded to ‘Neutral’ from ‘Buy’ at Citigroup.<\/span>
\n Gulfport Energy (GPOR -5.65%) was upgraded to ‘Buy’ from ‘Neutral’ at Guggenheim Securities with a 12-month target price of $30.<\/span>
\n Rsp Permian (RSPP +1.10%) was upgraded to ‘Buy’ from ‘Neutral’ at Guggenheim Securities with a 12-month target price of $55.<\/span>
\n Continental Resources (CLR -0.63%) was rated new ‘Market Perform’ at FBR Capital Markets with a 12-month target price of $56.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 9:45 PMI Services Index Flash
\n 1:30 PM Janet Yellen speech<\/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 mostly down. Taiwan, Indonesia, Hong Kong and Singapore dropped the most. Europe currently leans to the downside. Greece is down more than 2%; Austria is also weak. Spain and Portugal are doing well. Futures in the States point towards a positive […]<\/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\/10103"}],"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=10103"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10103\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}