{"id":12507,"date":"2018-12-19T08:51:59","date_gmt":"2018-12-19T13:51:59","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=12507"},"modified":"2018-12-19T08:51:59","modified_gmt":"2018-12-19T13:51:59","slug":"before-the-open-dec-19-7","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=12507","title":{"rendered":"Before the Open (Dec 19)"},"content":{"rendered":"

Good morning. Happy Wednesday. Happy FOMC Day. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. South Korea, India, New Zealand, Malaysia, Indonesia, Thailand, Turkey and the Philippines all did well; China and Japan were weak. Europe, Africa and the Middle East<\/strong> currently lean to the upside. The UK, France, Turkey, Germany, the UAE, Finland, Norway, Spain, Italy and Portugal are doing well. Russia, Greece, Austria, Saudi Arabia and the Czech Republic are down. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>What Happens When Oil Bottoms<\/a>
\n—————<\/span>
\n The dollar is down. Oil is flat; copper is up. Gold is down; silver is up. Bonds are mixed. <\/span>
\n Overnight Stock Movers<\/strong> from barchart.com…<\/span>
\n Darden Restaurants (DRI +5.02%) was upgraded to ‘Buy’ from ‘Neutral’ at BTIG LLC with a price target of $119.<\/span>
\n Eli Lilly (LLY -1.72%) may open higher initially this morning after it forecast 2019 adjusted EPS of $5.90 to $6.00, stronger than consensus of $5.82<\/span>
\n Ulta Beauty (ULTA -0.43%) was rated a new ‘Buy’ at Citigroup with a price target of $315.<\/span>
\n SL Green Realty (SLG -0.62%) was downgraded o ‘Underweight’ from ‘Neutral’ at JPMorgan Chase.<\/span>
\n Xylem (XYL +0.14%) was upgraded to ‘Buy’ from ‘Hold’ at Stifel with a price target of $75.<\/span>
\n Under Armour (UAA +2.23%) was downgraded to ‘Underweight’ from ‘Neutral’ with a price target of $14.<\/span>
\n FedEx (FDX +1.55%) fell -5% in after-hours trading after the company reported that the weak European economy is negatively affecting its earnings and outlook.<\/span>
\n Micron Technology (MU +0.68%) fell -6% in after-hours trading on a weak Q2 sales outlook.<\/span>
\n Jabil (JBL +3.01%) rallied sharply by +11% in after-hours trading after the company’s Q2 core EPS forecast beat estimates.<\/span>
\n Alkermes (ALKS -3.43%) fell 5% in after-hours trading after Goldman downgraded its rating and cut its target on the company.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n FedEx (NYSE:FDX) -6% AH slashing its 2019 forecast.
\n Micron (NASDAQ:MU) -9% AH on downside guidance, capex cut.<\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 8:30 Current Account
\n 10:00 Existing Home Sales
\n 10:30 EIA Petroleum Inventories
\n 2:00 PM FOMC Announcement
\n 2:00 PM FOMC Forecast
\n 2:00 PM Chairman Press Conference<\/span><\/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 Wednesday. Happy FOMC Day. The Asian\/Pacific markets closed mostly up. South Korea, India, New Zealand, Malaysia, Indonesia, Thailand, Turkey and the Philippines all did well; China and Japan were weak. Europe, Africa and the Middle East currently lean to the upside. The UK, France, Turkey, Germany, the UAE, Finland, Norway, Spain, Italy […]<\/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\/12507"}],"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=12507"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/12507\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}