{"id":10460,"date":"2017-05-30T07:55:38","date_gmt":"2017-05-30T12:55:38","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10460"},"modified":"2017-05-30T07:55:38","modified_gmt":"2017-05-30T12:55:38","slug":"before-the-open-may-30-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10460","title":{"rendered":"Before the Open (May 30)"},"content":{"rendered":"

Good morning. Happy Tuesday. Hope you had a great weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed with little change. Hong Kong moved up; South Korea and Indonesia moved down. Europe<\/strong> currently leans to the downside. Portugal is up, but the UK, Poland, France, Turkey, Switzerland, Austria and the Czech Republic are down. Futures in the States<\/strong> point towards a moderate gap down open for the cash market. <\/span>
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\n The dollar is flat. Oil and copper are down. Gold and silver are down. Bonds are up. <\/span>
\n We enter this new week with the S&P 500, S&P 100, Dow, Nas and Nas 100 at or very near their all-time highs and the Russell small caps and S&P mid caps being smack in the middle of their ranges. <\/span>
\n Several breadth indicators moved off their lows to support last week’s strength while a few others lagged some. <\/span>
\n With two more days of trading this month, “Sell in May” has worked for the small and mid caps, but for the other indexes, solid, across-the-board gains are in place. <\/span>
\n Overall bias remains up. It’s been up for a while. Those who’ve done the best have simply stayed on the side of the trend without trying to get too cute over-analyzing the market. There’s a lesson there. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n O’Reilly Automotive (ORLY +1.90%) and AutoZone (AZO +1.36%) were both downgraded to ‘Neutral’ from ‘Outperform’ at Wedbush.<\/span>
\n Caleres (CAL +9.11%) was upgraded to ‘Positive’ from ‘Neutral’ at Susquehanna Financial.<\/span>
\n Hess (HES +0.71%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.<\/span>
\n Valero Energy (VLO -1.17%) was downgraded to ‘Equal Weight’ from ‘Overweight’ at Morgan Stanley.<\/span>
\n Whiting Petroleum (WLL +0.63%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs.<\/span>
\n Symantec ({=SYMC =}) was upgraded to ‘Overweight’ from ‘Equalweight’ at Barclays with a price target of $38.<\/span>
\n Cimarex Energy (XEC -0.03%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.<\/span>
\n PrivateBancorp (PVTB +0.22%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Keefe, Bruyette & Woods.<\/span>
\n Sangamo Therapeutics (SGMO -7.05%) slid 1% in after-hours trading after it filed to sell up to $200 million of mixed shelf securities.<\/span>
\n TG Therapeutics (TGTX +1.26%) lost over 1% in after-hours trading after it filed to sell up to $300 million of mixed shelf securities.<\/span>
\n Rexahn Pharmaceuticals (RNN +2.28%) fell over 3% in after-hours trading after it filed to sell $150 million of mixed shelf securities.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Personal Income and Outlays
\n 9:00 S&P Corelogic Case-Shiller Home Price Index
\n 10:00 Consumer Confidence
\n 10:00 State Street Investor Confidence Index
\n 10:30 Dallas Fed Manufacturing Survey<\/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 Tuesday. Hope you had a great weekend. The Asian\/Pacific markets closed with little change. Hong Kong moved up; South Korea and Indonesia moved down. Europe currently leans to the downside. Portugal is up, but the UK, Poland, France, Turkey, Switzerland, Austria and the Czech Republic are down. Futures in the States point […]<\/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\/10460"}],"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=10460"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10460\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}