{"id":6322,"date":"2013-01-16T08:35:37","date_gmt":"2013-01-16T13:35:37","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6322"},"modified":"2013-01-16T08:35:37","modified_gmt":"2013-01-16T13:35:37","slug":"before-the-open-jan-16","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6322","title":{"rendered":"Before the Open (Jan 16)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. Australia and Singapore moved up; China, India, Japan and Taiwan moved down. Europe is currently mostly down. Greece is up 1%; losses among the other indexes are relatively small. Futures here in the States are down a small amount.
\n<\/span>
\nThe dollar is flat. Oil is up, copper down. Gold and silver are down.<\/span>
\nJP Morgan (JPM) did well with earnings. The stock is down 1% before the open. Jamie Dimon’s pay got cut in half because of the London Whale loss.<\/span>
\nGoldman Sachs (GS) also did well with earnings. The stock is up 2.7% in premarket trading.<\/span>
\nNorthern Trust’s (NTRS) quarterly profit tripled.<\/span>
\nChipotle (CMG) missed on earnings…the stock is down almost 10%.<\/span>
\nBoeing (BA) is down 4% after Japan ground an entire fleet of aircraft.<\/span>
\nUA Bancorp (USB) is down fictionally after releasing earnings.<\/span>
\nComerica (CMA) beat expectations…the stock has not traded premarket yet.<\/span>
\nBank of New York Mellon (BK) is down 2.5%…earnings related.<\/span>
\nOverall I think the market is in good but not great shape. As I mentioned yesterday after the close, the TICK has pulled back, and this usually leads to the market giving something back. Earnings season has started out fine, but there are many reports to come. Also the importance of the debt ceiling talks will be elevated or demoted based on what else is going on. One other thing that has caught my attention lately is the movement of the indexes relative to each other. I don’t expect them to be in unison, but I also don’t expect them to diverge too much. For example, the small and mid caps broke out yesterday to new highs. The Nas, on the other hand, has dropped the last two days. There’s a definite rotation of money within the indexes, so let’s keep an eye on this. We want money rotating to growth groups, not safe havens. 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>
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