{"id":10416,"date":"2017-05-01T07:53:00","date_gmt":"2017-05-01T12:53:00","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10416"},"modified":"2017-05-01T07:53:00","modified_gmt":"2017-05-01T12:53:00","slug":"before-the-open-may-1-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10416","title":{"rendered":"Before the Open (May 1)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Japan and Australia moved up; Hong Kong, South Korea, India and Indonesia moved down. Europe<\/strong> is also mixed. Turkey, Greece, Austria, Sweden and the Czech Republic are up; the UK and Finland are down. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>There’s a Bull Market Somewhere<\/a>
\n—————<\/span>
\n The dollar is flat. Oil is down; copper is up. Gold and silver are down. Bonds are down. <\/span>
\n Big news week this week. Lots of earnings report. FOMC Wednesday. Employment data Friday. <\/span>
\n We’ve gotten some big earnings-related gaps, so you’re rolling the dice holding into a report.<\/span>
\n The market’s long term trend is solidly up and not showing signs of weakening. Even if a top was being put in place (no evidence of this), it would be months before the market actually headed south because tops take time to form. <\/span>
\n The market’s short term trend is trying to re-assert to the upside. The indexes have been mostly range bound the last 2-4 months. The Nas has clearly broken out. The Russell 2000 moved to a new high last week but then fell back down on Friday. The other indexes are near the tops of their ranges. <\/span>
\n Bias is clearly up. No reason to be anything but long. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Dunkin’ Brands Group (DNKN -1.06%) was upgraded to ‘Outperform’ from ‘Sector Perform’ at RBC Capital Markets with a target price of $64.<\/span>
\n Autodesk (ADSK -0.62%) was upgraded to ‘Overweight’ from ‘Equal Weight’ at Morgan Stanley with a price target of $115.<\/span>
\n L3 Technologies (LLL -1.25%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Barclays.<\/span>
\n Thompson Reuters (TRI +3.70%) was downgraded to ‘Hold’ from ‘Buy’ at Canaccord Genuity.<\/span>
\n Apartment Investment (AIV -1.60%) was downgraded to ‘Neutral’ from ‘Buy’ at Mizuho Securities USA.<\/span>
\n First Solar (FSLR +0.37%) was upgraded to ‘Neutral’ from ‘Underperform’ at Credit Suisse.<\/span>
\n Discover Financial Services (DFS -2.69%) was downgraded to ‘Hold’ from ‘Buy’ at Deutsche Bank.<\/span>
\n Synchrony (SYF -15.89%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.<\/span>
\n Costamare (CMRE -3.44%) was upgraded to ‘Neutral’ from ‘Underperform’ at Credit Suisse.<\/span>
\n Atlantic Capital Bancshares (ACBI +0.77%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Keefe, Bruyette & Woods.<\/span>
\n Wesco Aircraft (WAIR -2.41%) reported Q2 preliminary net sales of $364.6 million, below consensus of $377.2 million.<\/span>
\n TFS Financial (TFSL -1.14%) reported Q2 EPS of 8 cents, better than consensus of 7 cents.<\/span>
\n Genworth Financial (GNW -1.46%) fell 3% in after-hours trading after it said it needs more time to convince regulators they should approve the company’s plan to sell itself to China Oceanwide Holdings Group.<\/span>
\n Today’s Economic Calendar<\/strong>
\n Auto Sales
\n 8:30 Personal Income and Outlays
\n 9:45 PMI Manufacturing Index
\n 10:00 ISM Manufacturing Index
\n 10:00 Construction Spending
\n 2:00 PM Gallup US Consumer Spending Measure<\/span><\/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 Monday. Hope you had a good weekend. The Asian\/Pacific markets closed mixed. Japan and Australia moved up; Hong Kong, South Korea, India and Indonesia moved down. Europe is also mixed. Turkey, Greece, Austria, Sweden and the Czech Republic are up; the UK and Finland are down. Futures in the States point towards […]<\/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\/10416"}],"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=10416"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10416\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}