{"id":9732,"date":"2016-06-07T07:46:37","date_gmt":"2016-06-07T12:46:37","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9732"},"modified":"2016-06-07T07:46:37","modified_gmt":"2016-06-07T12:46:37","slug":"before-the-open-jun-7-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9732","title":{"rendered":"Before the Open (Jun 7)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific<\/strong> markets up across-the-board. Hong Kong, South Korea and Taiwan rallied more than 1%; Japan, Singapore, India, Indonesia and Malaysia also did well. Europe<\/strong> is currently posting across-the-board gains. Germany, France, Austria, the Netherlands, Norway, Russia, Greece, Poland, Italy, Belgium, Portugal and Sweden are up more than 1%. Futures here in the States<\/strong> point towards a positive open for the cash market. <\/span>
\n—————
\n List of Indexes and ETFs – <\/strong> here<\/a>
\n—————<\/span>
\nThe dollar is up a small amount. Oil is up; copper is down. Gold and silver are down. Bonds are up. <\/span>
\nYesterday the S&P closed at its highest level since November and within about 25 points of its all-time high. But of course the index is already at an all-time high if you include dividends. <\/span>
\nIf the chart below was that of an individual stock, you’d be bullish and looking to buy dips within the pattern and a breakout. And you’d have a 300-point price target. <\/span>
\n\"\"
\nBut it’s not a stock; it’s the S&P 500, and because of all the negative news, you don’t think it’s possible…you don’t think it makes sense…there’s a laundry list of reasons the market should go down, not up. And that’s exactly why it’s very possible. <\/span>
\nIn the near term – and the near term in this case is upwards of a year – anything goes. Think about how long the dot com bubble lasted beyond what made sense. <\/span>
\nThe odds the market legs up is high enough for you to have a plan in place to profit from it. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\nNorwegian Cruise Line Holdings Ld. (NCLH -0.72%) was rated a new ‘Buy’ at Sterne Agee CRT with a price target of $80.<\/span>
\nJabil Circuit (JBL +0.93%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs with a price target of $17.<\/span>
\nMarathon Oil (MRO +4.80%) was rated a new ‘Buy’ at KLR Group with a target price of $21.<\/span>
\nLayne Christensen (LAYN -1.01%) reported a Q1 loss continuing operations of -45 cents a share, a wider loss than consensus of -32 cents.<\/span>
\nDiscovery Communications (DISCA +1.73%) was downgraded to ‘Underperform’ from ‘Market Perform’ at Bernstein.<\/span>
\nCatalent (CTLT -0.49%) announced a secondary public offering of 10 million shares of common stock.<\/span>
\nUnited Natural Foods (UNFI +0.57%) jumped over 10% in after-hours trading after it reported Q3 EPS of 76 cents, higher than consensus of 65 cents, and then raised guidance on full-year adjusted EPS to $2.47-$2.53 from a March 7 estimate of $2.34-$2.44.<\/span>
\nCasey’s General Stores (CASY -0.98%) reported Q4 EPS of $1.19, below consensus of $1.22, although Q4 revenue of $1.58 billion was above consensus of $1.57 billion.<\/span>
\nThor Industries (THO +0.54%) gained over 1% in after-hours trading after it reported Q3 adjusted EPS from continuing operations of $1.51, better than consensus of $1.43.<\/span>
\nXactly (XTLY +1.25%) rose 4% in after-hours trading after it reported a Q1 adjusted EPS loss of -9 cents, narrower than consensus of -15 cents, and then raised guidance on full-year revenue to $95.5 million-$97.0 million from a March 3 estimate of $94 million-$95.5 million.<\/span>
\nSigma Designs (SIGM +2.62%) reported a Q1 adjusted EPS loss of -12 cents, wider than consensus of -5 cents.<\/span>
\nWWD reported that Ralph Lauren (RL +0.54%) plans close some stores and cut up to 10% of its workforce.<\/span>
\nDryShips (DRYS +10.80%) tumbled 12% in after-hours trading after three lenders said DryShips had elected to suspend principal repayments and interest payments and was in breach of certain covenants in loan agreements.<\/span>
\nToday’s Economic Calendar<\/strong>
\n8:30 Productivity and Costs
\n8:30 Gallup US ECI
\n8:55 Redbook Chain Store Sales
\n1:00 PM Results of $24B, 3-Year Note Auction
\n3:00 PM Consumer Credit<\/span><\/span><\/span><\/span><\/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 Tuesday. The Asian\/Pacific markets up across-the-board. Hong Kong, South Korea and Taiwan rallied more than 1%; Japan, Singapore, India, Indonesia and Malaysia also did well. Europe is currently posting across-the-board gains. Germany, France, Austria, the Netherlands, Norway, Russia, Greece, Poland, Italy, Belgium, Portugal and Sweden are up more than 1%. Futures here […]<\/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\/9732"}],"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=9732"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9732\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}