{"id":7339,"date":"2014-01-24T08:04:39","date_gmt":"2014-01-24T13:04:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=7339"},"modified":"2014-01-24T08:04:39","modified_gmt":"2014-01-24T13:04:39","slug":"before-the-open-jan-24-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=7339","title":{"rendered":"Before the Open (Jan 24)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\n The Asian\/Pacific markets closed mostly down. China rallied while Hong Kong, India, Indonesia, Japan, New Zealand and Singapore dropped a bunch. Europe is currently down across-the-board. Spain is down almost 3%; Austria, France, Germany, Norway, Switzerland, London, Italy, Greece and the Czech Republic are down more than 1%. Futures here in the States point towards a big gap down for the cash market.
\n<\/span>
\n The dollar is down. Oil and copper are down. Gold and silver are up.<\/span>
\n Since it’s Friday, let’s check out the weekly chart. The S&P is still working off the negative Histogram divergence which has been in place the last three weeks. Also, with today’s big gap down, it’s going to be very hard for the index to post a gain for the week. A massive intraday rally is going to be needed, and that doesn’t seem to be in the cards looking at charts of individual stocks. <\/span>
\n\"\"
\n The market has been range bound the last month. Today’s open will be near last week’s low. It’s not a line in the sand, but it is a level the bulls need to defend if they want to salvage a chance to break stocks out. <\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\n State Street Corp. (STT -3.18%) reported Q4 EPS of $1.15, below consensus of $1.19.<\/span>
\n Procter & Gamble (PG -1.25%) reported Q2 EPS of $1.21, higher than consensus of $1.20.<\/span>
\n Honeywell International (HON -1.42%) reprted Q4 EPS of $1.24, better than consensus of $1.21.<\/span>
\n Stanley Black & Decker (SWK -0.64%) reported Q4 EPS of $1.32, higher than consensus of $1.30.<\/span>
\n Bristol-Myers Squibb (BMY -1.57%) reported Q4 EPS of 51 cents, better than consensus of 43 cents.<\/span>
\n According to Nikkei.com, Harley-Davidson (HOG -1.47%) will begin selling three-wheelers in Japan for the first time starting February 1.<\/span>
\n Celanese (CE -0.29%) reported Q4 adj. EPS of $1.04, better than consensus of $1.02.<\/span>
\n KLA-Tencor (KLAC -0.20%) reported Q2 EPS of 85 cents, stronger than consensus of 80 cents.<\/span>
\n Altera (ALTR -1.17%) reported Q4 EPS of 31 cents, stronger than consensus of 30 cents.<\/span>
\n E-Trade (ETFC -2.19%) rallied nearly 3% in after-hours tradign after it reported Q4 EPS of 20 cents, higher than consensus of 19 cents.<\/span>
\n Leggett & Platt (LEG +1.29%) reported Q4 adjusted EPS of 35 cents, better than consensus of 34 cents.<\/span>
\n Juniper (JNPR -0.65%) rose 2% in after-hours trading after it reported preliminary Q4 EPS of 43 cents, stronger than consensus of 37 cents.<\/span>
\n Intuitive Surgical (ISRG -0.03%) reported Q4 EPS of $4.28, well above consensus of $3.83.<\/span>
\n Discover (DFS -2.35%) reported Q4 EPS of $1.23, better than consensus of $1.18.<\/span>
\n Microsoft (MSFT +0.36%) climbed 4% in after-hours trading after it reported Q2 EPS of 78 cents, well ahead of consensus of 68 cents.<\/span>
\n Starbucks (SBUX -0.29%) reported Q1 EPS of 71 cents, higher than consensus of 69 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n No events scheduled.<\/span><\/span>
\n Notable earnings before today’s open: BMY, COV, FNFG, GWW, HON, IMGN, KMB, KSU, PG, STT, SWK, XRX<\/span>
\n Notable earnings after today’s close: none<\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n