{"id":10370,"date":"2017-04-07T07:48:04","date_gmt":"2017-04-07T12:48:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10370"},"modified":"2017-04-07T07:48:04","modified_gmt":"2017-04-07T12:48:04","slug":"before-the-open-apr-7-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10370","title":{"rendered":"Before the Open (Apr 7)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Employment Numbers Day. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Japan and China moved up; India, Indonesia and New Zealand moved down. Europe<\/strong> currently leans to the downside. Russia is down almost 2%; Sweden, Germany, Denmark, Finland, Portugal and Switzerland are also weak. Greece is up 1.4%; the Czech Republic is also doing well. Prior to the release of the latest employment figures, futures in the States<\/strong> pointed towards a flat-to-down open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is up. Oil is up; copper is down. Gold and silver are up. Bonds are up. <\/span>
\n We got news last night the US launched Tomahawk missiles against an airbase in Syria. S&P futures initially plunged but have climbed almost all the way back. Oil jumped but has give back about half the gain. Gold also jumped, but it has held its gain. <\/span>
\n There’s no shortage of “stuff” out there for the market to ponder. <\/span>
\n Here are the employment numbers:<\/span>
\n unemployment rate: 4.5% (was 4.7% last month)
\n nonfarm payrolls: +98K
\n private payrolls:
\n average workweek: unchanged at 34.3 hours
\n hourly wages: up 0.2% to $26.14\/hour
\n labor participation rate:<\/span><\/span><\/span><\/span><\/span><\/span>
\n January gain reduced from 238K to 216K
\n February gain reduced from 235K to 219K<\/span><\/span>
\n On the news, S&P futures went from being down about 2 to being down about 8, but they’re now bouncing. <\/span>
\n It’s been a busy week. The indexes are down (last week was a solid up week) but remain range bound. This is not a time to be placing big bets. The market doesn’t know what it wants to do next. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Cruise missle maker Ratheon (RTN -0.43%) gained nearly 2% in pre-market trading following the U.S. cruise missle attack on Syria.<\/span>
\n Wal-Mart (WMT -0.81%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Telsy Advisory with a price target of $82.<\/span>
\n FedEx (FDX -0.21%) was rated new ‘Buy’ at Loop Capital Markets with a 12-month target price of $234.<\/span>
\n Jazz Pharmaceuticals Plc ({=JAZZ =}) was upgraded to ‘Buy’ from ‘Neutral’ at Janney Montgomery Scott LLC with a price target of $175.<\/span>
\n WD-40 (WDFC -0.47%) dropped nearly 4% in after-hours trading after it reported Q2 EPS of 87 cents, weaker than consensus of 90 cents, and said it sees full-year net sales of $390 million-$395 million, below consensus of $395.7 million.<\/span>
\n United Bancshares (UBSI -2.17%) will replace WhiteWave Foods in the S&P MidCap 400 before the open on Wednesday, April 12.<\/span>
\n Oclaro (OCLR -5.36%) rose 5% in after-hours trading when it was announced that it will replace United Bancshares in the S&P 600 before the open on Wednesday, April 12.<\/span>
\n PriceSmart (PSMT -0.16%) lost 1% in after-hours trading even after it reported Q2 EPS of 90 cents, right on expectations.<\/span>
\n Luther King Capital said it boosted its stake in A.H. Belo (AHC -1.69%) to 5.2% from 4.8%.<\/span>
\n AngioDynamics (ANGO -1.47%) announced a secondary offering of 2.35 million shares of common stock by selling stockholders.<\/span>
\n Codexis (CDXS -1.06%) slid 3% in after-hours trading after it proposed a public offering of common stock, although no size was given.<\/span>
\n Ryerson Holding (RYI -4.33%) rallied nearly 6% in after-hour trading after it said it sees Q1 net income of $12 million-$15 million, better than consensus of $10.3 million.<\/span>
\n C&J Energy Services (CJ +4.98%) slumped 12% in after-hours trading after it announced a secondary public offering of 7 million shares of its common stock.<\/span>
\n NeoPhotonics (NPTN -1.40%) dropped 6% in after-hours trading after CFO Ray Wallin said he will resign effective May 15.<\/span>
\n VEON Ltd (VEON -0.50%) fell over 1% in after-hours trading when holder Telanor said it was offering 70 million shares of VEON via Citigroup and Morgan Stanley.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Non-farm payrolls
\n 10:00 Wholesale Trade
\n 1:00 PM Baker-Hughes Rig Count
\n 3:00 PM Consumer Credit
\n 11:05 PM Fed’s Bullard speech on Sunday: U.S. Monetary and Economic Policy<\/span><\/span><\/span><\/span><\/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 Friday. Happy Employment Numbers Day. The Asian\/Pacific markets closed mixed. Japan and China moved up; India, Indonesia and New Zealand moved down. Europe currently leans to the downside. Russia is down almost 2%; Sweden, Germany, Denmark, Finland, Portugal and Switzerland are also weak. Greece is up 1.4%; the Czech Republic is also […]<\/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\/10370"}],"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=10370"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10370\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}