{"id":10481,"date":"2017-06-12T07:54:08","date_gmt":"2017-06-12T12:54:08","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10481"},"modified":"2017-06-12T07:54:08","modified_gmt":"2017-06-12T12:54:08","slug":"before-the-open-jun-12-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10481","title":{"rendered":"Before the Open (Jun 12)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets were weak today. Hong Kong, South Korea and Taiwan fell more than 1%; Japan, China and India also posted noticeable losses. Europe<\/strong> is currently mostly down. Poland, France, Germany, Finland, Spain, the Netherlands, Italy, Austria, Belgium, Portugal and Sweden are down about 1% each (give or take a little). Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
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\n VIDEO: <\/strong>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is down. Oil is up; copper is down. Gold and silver are down. Bonds are down. <\/span>
\n The selling pressure that took place in big-cap tech stocks on Friday has continued. Facebook, Amazon, Nvidia, Apple, Google, Netflix, Microsoft and others are all down more than 1% in premarket trading. <\/span>
\n Coming into this week the question was whether Friday’s selling was a 1-day event or was a hint of what’s in the pipeline. <\/span>
\n In either case I’m confident the market will eventually move back up, but I stress ‘eventually.’ I don’t have a crystal ball. <\/span>
\n I continue to favor the long side because odds favor a continuation of what’s taken place, not a change. Even if a top was forming, there would be many months of up and down movement before it was officially in place. <\/span>
\n For now I’m standing aside and letting the dust settle. I’ll be a buyer at some point…just don’t know exactly when. <\/span>
\nPremarket movers<\/strong> from thestockmarketwatch.com…<\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Apple (AAPL -3.88%) is down 2% in pre-market trading after it was downgraded to ‘Neutral’ from ‘Buy’ at Mizuho Securities.<\/span>
\n Adobe Systems (ADBE -3.21%) was downgraded to ‘Sell’ from ‘Hold’ at Pivotal Research Group LLC with a price target of $112.<\/span>
\n Crown Castle International (CCI +0.87%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Raymond James.<\/span>
\n Pandora Media (P +1.19%) was upgraded to ‘Outperform’ from ‘Market Perform’ at FBR Capital Markets.<\/span>
\n Regal Entertainment Group (RGC -1.27%) was downgraded to ‘Sell’ from ‘Neutral’ at MoffetNathanson.<\/span>
\n Knight Transport (KNX +1.29%) was upgraded to ‘Overweight’ from ‘Equal-Weight’ at Stephens.<\/span>
\n Hilton Worldwide Holdings (HLT -0.42%) climbed over 3% in after-hours trading when it was announced that it will replace Yahoo! in the S&P 500 before the opening on Monday, June 19.<\/span>
\n Align Technology (ALGN -1.96%) will replace Teradata (TDC +0.47%) in the S&P 500 before the opening on Monday, June 19.<\/span>
\n G1 Therapeutics (GTHX -0.43%) was initiated with a new ‘Buy’ at Needham with a price target of $34.<\/span>
\n Ansys (ANSS -1.92%) will replace Ryder System R in the S&P 500 before the opening on Monday, June 19.<\/span>
\n Coherus Biosciences (CHRS -9.03%) dropped nearly 6% in after-hours trading after two AbbVie patents on the arthritis drug Humira were rules “unpatentable” by the Patent Trial and Appeal Board.<\/span>
\n Ocular Therapeutix (OCUL -1.41%) fell over 2% in after-hours trading after the company confirmed that CMO Jonathan Talamo resigned from his position effective June 15.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 1:00 PM Results of $20B, 10-Year Note Auction
\n 2:00 PM Treasury Budget<\/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 were weak today. Hong Kong, South Korea and Taiwan fell more than 1%; Japan, China and India also posted noticeable losses. Europe is currently mostly down. Poland, France, Germany, Finland, Spain, the Netherlands, Italy, Austria, Belgium, Portugal and Sweden are down about […]<\/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\/10481"}],"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=10481"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10481\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}