{"id":9681,"date":"2016-05-16T07:58:14","date_gmt":"2016-05-16T12:58:14","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9681"},"modified":"2016-05-16T07:58:14","modified_gmt":"2016-05-16T12:58:14","slug":"before-the-open-may-16-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9681","title":{"rendered":"Before the Open (May 16)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets leaned to the upside. Hong Kong, China and India did well; Indonesia and Malaysia were weak. Europe<\/strong> is currently very quiet; a handful of markets are closed. France and the Netherlands are down; Russia, Poland and the Czech Republic are up. Futures here in the States<\/strong> point towards a positive 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>
\n The dollar is flat. Oil and copper are up. Gold and silver are up. Bonds are down. <\/span>
\n I don’t have anything to add to the comments made in the weekly report<\/strong>. <\/a><\/span>
\n The market is at somewhat of a key moment here, and unfortunately there are a lot of cross-currents. The S&P put in a lower high and is now near a potential support level. Some indicators point down; others would be supportive of a bounce attempt. I can see a breakdown here…I can also see a breakdown being a trap that leads to vertical rally. The landscape is not clear.<\/span>
\n But I personally don’t trade the overall market. I look inside for groups that are leading or lagging. Right now oil and gold & silver are the top groups, so that’s where my money is at. Trading can be made much less hard by paying close attention to the flow of money. <\/span>
\n Many markets in Europe were closed today…not sure if this results in the US being slow. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Yahoo! (YHOO -1.49%) climbed nearly 2% in pre-market trading after people familiar with the matter said that Warren Buffett is backing a group bidding for the company’s internet assets.<\/span>
\n Globalstar (GSAT +35.36%) jumped 16% in pre-market trading after the chairman of the FCC late Friday asked the agency to vote on Globalstar’s proposal to offer mobile service on airwaves now reserved for satellite use.<\/span>
\n Nokia OYJ (NOK unch) was upgraded to ‘Buy’ from ‘Hold’ at Canaccord Genuity with a price target of $7.<\/span>
\n Weibo (WB +2.10%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.<\/span>
\n Vornado Realty Trust (VNO -1.54%) was upgraded to ‘Buy’ from ‘Hold’ at Evercore ISI with a 12-month price target of $108.<\/span>
\n Regions Financial Corp. (RF -1.53%) was downgraded to ‘Underperform’ from ‘Market perform’ at KBW.<\/span>
\n Infoblox (BLOX -2.99%) was downgraded to ‘Underperform’ from ‘Neutral’ at DA Davidson.<\/span>
\n Globus Medical (GMED +0.51%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs.<\/span>
\n Digital Realty Trust (DLR -0.29%) climbed nearly 4% in after-hours trading after it was announced that it will replace Tim Warner Cable in the S&P 500 after the close of trading on Tuesday, May 17.<\/span>
\n Blue Buffalo Pet Products (BUFF -0.83%) slid over 4% in after-hours trading after it started a 25 million share secondary offering of common stock.<\/span>
\n TerraForm Global (GLBL -1.50%) rose nearly 3% in after-hours trading after Appaloosa Management\u2019s 13F filing showed it increased its stake in TerraForm Global.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Empire State Mfg Survey
\n 10:00 NAHB Housing Market Index
\n 4:00 PM Treasury International Capital<\/span><\/span><\/span><\/span>
\nToday’s Earnings <\/span><\/a>here<\/a>
\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 leaned to the upside. Hong Kong, China and India did well; Indonesia and Malaysia were weak. Europe is currently very quiet; a handful of markets are closed. France and the Netherlands are down; Russia, Poland and the Czech Republic are up. Futures […]<\/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\/9681"}],"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=9681"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9681\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}