{"id":9598,"date":"2016-04-11T07:58:31","date_gmt":"2016-04-11T12:58:31","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9598"},"modified":"2016-04-11T07:58:31","modified_gmt":"2016-04-11T12:58:31","slug":"before-the-open-apr-11-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9598","title":{"rendered":"Before the Open (Apr 11)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\nThe Asian\/Pacific markets closed with a lean to the downside. China and India rallied more than 1%. Indonesia dropped more than 1%; Japan was also weak. Europe is currently mostly up. Germany, Belgium, Russia, Turkey, Spain and Italy are up more than 1%; the Netherlands, Norway and France are also doing well. Future here in the States point towards a moderate gap up open for the cash market. <\/span>
\n—————<\/strong>
\nLB Weekly<\/a> – the indexes, the breadth indicators, a look at the big picture
\n —————<\/strong><\/span>
\nThe dollar is down slightly. Oil and cooper are down. Gold and silver are up. Bonds are down. <\/span>
\nAs is typically the case, I don’t have anything to say beyond what was already said in the weekly report<\/a> posted over the weekend. <\/span>
\nThe market is mixed up right now. The big picture says the market has been in consolidation mode for two years. The intermediate term – going back a couple months – looks good and has looked more promising than the October rally. But the short term trend points down. Breadth has been declining for a month, and a several indicators point towards a need to recycle before supporting a rally attempt. When the three time frames tell different stories, as has been the case the last couple weeks, it’s wise to be defensive. <\/span>
\nHere’s the 10-min, 10-day S&P chart. A big sloppy mess. Rallies get sold, dips get bought. Nothing sticks. No follow through. Make adjustments or get chopped up. <\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\nAlcoa (AA -1.16%) climbed over 3% in pre-market trading before it releases its Q1 earnings results after today’s close.<\/span>
\nYahoo! (YHOO -0.28%) rose over 1% in pre-market trading after the parent company of the UK’s Daily Mail said it is in talks with a number of potential bidders for Yahoo.<\/span>
\nUnited Natural Foods (UNFI -1.10%) was downgraded to ‘Underweight’ from Equal Weight’ at Morgan Stanley.<\/span>
\nNXP Semiconductors (NXPI +1.82%) was rate a new ‘Buy’ at Nomura with a price target of $95.<\/span>
\nPotash Corp. of Saskatchewan (POT -0.50%) was downgraded to ‘Hold’ from ‘Buy’ at HSBC.<\/span>
\nNoble (NE +1.92%) was downgraded to ‘Hold’ from ‘Buy at Societe Generale.<\/span>
\nRestaurant Brands International (QSR -0.78%) was upgraded to ‘Outperform’ from ‘Sector Perform’ at RBC Capital Markets.<\/span>
\nCummins (CMI +1.13%) was downgraded to ‘Neutral’ from ‘Outperform’ at Macquarie.<\/span>
\nValero Energy (VLO +2.27%) was downgraded to ‘Neutral’ from ‘Outperform’ at Credit Suisse.<\/span>
\nUnited Continental (UAL -0.15%) slipped nearly 1% in after-hours trading after the company reported March traffic was down -1.5% and its Mar consolidated load factor fell -1.1 points versus Mar 2015.<\/span>
\nQLogic (QLGC +6.80%) climbed over 2% in after-hours trading after Bloomberg reported the company hired Qatalyst Partners to explore strategic alternatives for the company, including a possible sale.<\/span>
\nBoston Scientific (BSX +0.10%) fell nearly 1% in after-hours trading after it voluntarily recalled its Fetch 2 aspiration catheter due to complaints of shaft breakage.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\nToday’s Economic Calendar
\nnone<\/span><\/span>
\nToday’s Earnings here<\/a><\/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><\/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 downside. China and India rallied more than 1%. Indonesia dropped more than 1%; Japan was also weak. Europe is currently mostly up. Germany, Belgium, Russia, Turkey, Spain and Italy are up more than 1%; the Netherlands, […]<\/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\/9598"}],"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=9598"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9598\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}