{"id":6070,"date":"2012-10-16T07:43:00","date_gmt":"2012-10-16T12:43:00","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6070"},"modified":"2012-10-16T07:43:00","modified_gmt":"2012-10-16T12:43:00","slug":"before-the-open-oct-16-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6070","title":{"rendered":"Before the Open (Oct 16)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. India dropped; Japan, South Korea and Taiwan moved up. Europe is currently up across the board. France, Germany, Amsterdam, Norway and London are up more than 1%. Futures here in the States point towards a relatively big gap up open for the cash market.
\n<\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up.<\/span>
\nOne of the reasons overseas markets are up and futures here in the States are doing well is word from Spain they are moving towards meeting the criteria that would enable the ECB to buy bonds, thereby depressing yields.<\/span>
\nVikram Pandit is out as CEO of Citigroup (C) and as a member of the board. The stock is down 2.3%.<\/span>
\nGoldman Sachs (GS) did well with earnings. The stock is up a small amount before the open.<\/span>
\nJohnson & Johnson (JNJ) did well too…stock is up 1.2%.<\/span>
\nCoke’s (KO) earnings were in line…stock is up a small amount.<\/span>
\nState Street (STT) beat Q3 estimates…stock is up a small amount.<\/span>
\nMurphy Oil (MUR) is spinning off its refining unit, paying a special $2.50 dividend and is doing a $1B share buyback. The stock is up better than 7%. <\/span>
\nOmnicom (OMC) Q3 earnings and margins moved up slightly. The stock is unchanged.<\/span>
\nDomino’s (DPZ) profits rose, especially those overseas. Stock is up almost 4%.<\/span>
\nPNC is down almost 2%…earnings related.<\/span>
\nUnitedHealth (UNH) Q3 earnings rose, and they raised their full-year guidance.<\/span>
\nMattel (MAT) did well with earnings…stock is up 4.5%.<\/span>
\nHere’s an update of the daily charts. The Dow and S&P bounced off support. The Nas got close before bouncing. The Russell bounced of horizontal support at 820 instead of the uptrend line. The longer term trend remains in good shape; the shorter term is still unclear.<\/span>
\n\"\"
\nThe second Presidential debate is tonight. It could certainly move the market tomorrow morning because Wall St. will continue pricing in the likely winner. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n