{"id":10171,"date":"2017-01-23T08:48:46","date_gmt":"2017-01-23T13:48:46","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10171"},"modified":"2017-01-23T08:48:46","modified_gmt":"2017-01-23T13:48:46","slug":"before-the-open-jan-23-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10171","title":{"rendered":"Before the Open (Jan 23)"},"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 upside. Taiwan rallied 1%; Malaysia, China and Singapore also did well. Japan dropped more than 1%; Australia was also weak. Europe<\/strong> is currently mostly down. The UK, Belgium, Norway, Sweden, Switzerland, Denmark, Finland, Spain, Portugal and Russia are posting the biggest losses. Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>There’s a Bull Market Somewhere<\/a><\/strong>
\n—————<\/span>
\n The dollar is down. Oil is down; copper is up. Gold and silver are up. Bonds are up. <\/span>
\n We enter this new week with the market in resting mode. The indexes have been mostly flat the last month, and many breadth indicators have pulled back. <\/span>
\n Overall the market is doing just fine. I’m confident it’ll leg up again into new high territory, even if there is a dip first. <\/span>
\n The wild card is the inauguration, which of course took place Friday. Like a delayed reaction to a FOMC meeting, you never know if a new presidency will act as an inflection point, regardless of what the charts look like. <\/span>
\n I like the market, but the short term is harder to call. <\/span>
\n Earnings ramps up this week, and then next Wednesday (Feb 1) is a Fed meeting. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Qualcomm (QCOM -2.42%) was downgraded to ‘Neutral’ from ‘Buy’ at Nomura with a 12-month target price of $70.<\/span>
\n Verizon (VZ +0.69%) was downgraded to ‘Market Perform’ from ‘Outperform at Wells Fargo Securities.<\/span>
\n SunTrust Banks (STI +1.86%) was upgraded to ‘Buy’ from ‘Hold’ at Sandler O’Neill with a 12-month target price of $62.<\/span>
\n FMC Corp. (FMC +1.63%) was downgraded to ‘Neutral’ from ‘Accumulate’ at Seaport Global with a price target of $60.<\/span>
\n Schlumberger Ltd (SLB -0.81%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Stephens.<\/span>
\n Rockwell Collins (COL +2.45%) was upgraded to ‘Buy’ from ‘Neutral’ at Seaport Global with a price target of $100.<\/span>
\n Dish Network (DISH -2.50%) was upgraded to ‘Overweight’ from ‘Equal-Weight’ at Morgan Stanley with a price target of $75.<\/span>
\n MetLife (MET +0.57%) was upgraded to ‘Buy’ from ‘Hold’ at Deutsche Bank.<\/span>
\n BB&T (BBT +0.29%) was upgraded to ‘Buy’ from ‘Neutral’ at Hilliard Lyons with a 12-month target price of $51.<\/span>
\n Merck (MRK +3.65%) will pay $625 million to settle patent-infringement litigation against Bristol-Myers Squibb and Ono Pharmaceutical for infringing on both companies’ patents covering use of PD-1 antibodies to treat cancer.<\/span>
\n Winnebago Industries (WGO +0.32%) fell over 4% in after-hours trading after it registered 4.56 million shares for holders.<\/span>
\n Today’s Economic Calendar<\/strong>
\n none<\/span><\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span> from Morningstar
\nthis week’s Economic Numbers\/Reports<\/a><\/span> powered by ECONODAY<\/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 upside. Taiwan rallied 1%; Malaysia, China and Singapore also did well. Japan dropped more than 1%; Australia was also weak. Europe is currently mostly down. The UK, Belgium, Norway, Sweden, Switzerland, Denmark, Finland, Spain, Portugal and […]<\/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\/10171"}],"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=10171"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10171\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}