{"id":10921,"date":"2017-10-30T07:44:30","date_gmt":"2017-10-30T12:44:30","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10921"},"modified":"2017-10-30T07:44:30","modified_gmt":"2017-10-30T12:44:30","slug":"before-the-open-oct-30-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10921","title":{"rendered":"Before the Open (Oct 30)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the upside. India, New Zealand, Taiwan and the Philippines did well; China and Hong Kong dropped. Europe, Africa and the Middle East<\/strong> are currently mostly up. Poland, Turkey, Kenya, Hungary, Spain and Portugal are leading the way. Futures in the States<\/strong> point towards a moderate gap down open for the cash market. <\/span>
\nThe conclusion from LB Weekly<\/strong><\/a>, published over the weekend, was that the market was in great shape overall but the near term was much less certain. Many breadth indicators are diverging from the price action. <\/span>
\n The dollar is down. Oil and copper are up. Gold and silver are down small amounts. Bonds are up. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Macy’s (M -7.73%) is down over 2% in pre-market trading after it was downgraded to ‘Sell’ from ‘Neutral’ at Citigroup with a price target of $16.<\/span>
\n J.C. Penney (JCP -14.75%) was downgraded to ‘Sell’ from ‘Neutral’ at Citigroup with a price target of $1.50.<\/span>
\n Advanced Micro Devices (AMD -1.33%) is down 3% in pre-market trading after it was downgraded to ‘Underweight’ from ‘Equal-Weight’ at Morgan Stanley with a price target of $8.<\/span>
\n Praxair (PX -0.98%) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup with a price target of $168.<\/span>
\n Intel (INTC +7.38%) was upgraded to ‘Outperform’ from ‘Market Perform’ at BMO Capital Markets with a price target of $58.<\/span>
\n General Motors (GM -1.35%) was downgraded to ‘Sell from ‘Neutral’ at Goldman Sachs.<\/span>
\n Piper Jaffray (PJC +1.61%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Keefe, Bruyette & Woods with a price target of $78.<\/span>
\n Office Depot (ODP -0.27%) was downgraded to ‘Underweight’ from ‘Neutral’ at JP Morgan Chase.<\/span>
\n Leggett & Platt (LEG +2.53%) was downgraded to ‘Neutral’ from ‘Overweight’ at Piper Jaffray with a price target of $46.<\/span>
\n Bristol-Meyers Squibb (BMY -1.66%) rose over 1% in after-hours trading after competitor Merck withdrew its European application for KEYTRUDA in combination with pemetrexed and carboplatin as a treatment for non-small cell lung cancer. Merck MRK fell nearly 3% in after-hours trading on the news.<\/span>
\n La Jolla Pharmaceuticals (LJPC +7.42%) filed a $150 million mixed securities shelf.<\/span>
\n Century Aluminum (CENX -0.26%) was downgraded to ‘Neutral’ from ‘Overweight’ at JP Morgan Chase with a price target of $14.50.<\/span>
\n—————
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\n Today’s Economic Calendar<\/strong>
\n 8:30 Personal Income and Outlays
\n 10:30 Dallas Fed Manufacturing Survey
\n 3:00 Farm Prices<\/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 with a lean to the upside. India, New Zealand, Taiwan and the Philippines did well; China and Hong Kong dropped. Europe, Africa and the Middle East are currently mostly up. Poland, Turkey, Kenya, Hungary, Spain and Portugal are leading the way. […]<\/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\/10921"}],"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=10921"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10921\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}