{"id":9825,"date":"2016-07-28T07:46:58","date_gmt":"2016-07-28T12:46:58","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9825"},"modified":"2016-07-28T07:46:58","modified_gmt":"2016-07-28T12:46:58","slug":"before-the-open-jul-28-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9825","title":{"rendered":"Before the Open (Jul 28)"},"content":{"rendered":"

Good morning. Happy Thursday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Japan dropped 1.1%, and Singapore fell 0.8%. India and Indonesia did well. Europe<\/strong> is currently mostly down. Spain and Italy are down more than 1%; Austria, Belgium, the Netherlands, Norway, the Czech Republic, Greece and Poland are also weak. Russia, Denmark and Turkey are doing well. Futures in the States<\/strong> point towards a slight down open for the cash market. <\/span>
\n—————
\n Sponsor: <\/strong>PLcharts.com<\/a> – draw and share profit\/loss charts on the web.<\/strong>
\n—————<\/span>
\n The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down. <\/span>
\n The Fed has come and gone without much for us market participants to talk about. Even though the market is near its highs, rates will continue to be held down. <\/span>
\n Gold and silver popped the last two days. These have been my favorite groups going back a couple months. They just went through a soft spot where, in many cases, stocks dropped to their up-trending 50-day moving averages. Now they’re heading north again. We’ll see if they hit higher highs or form larger consolidation patterns. <\/span>
\n Oil continues to deteriorate. It’s legit to ask if the recent action is just a pullback within an uptrend or the beginning of a downtrend. This is one of the oil charts I’m keying on. If crude can hold its 200-day down near $41, I’ll consider the uptrend to be intact. <\/span>
\n\"\"
\n Earnings season isn’t having a huge affect on stocks. There are movers but very few big movers. Still recognize the risk if you hold into a report. <\/span>
\n Here’s the S&P over the last 10 days. Ugh. <\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Facebook (FB +1.75%) rallied 5% overnight after revenue and user figures topped estimates on a surge in mobile ads.<\/span>
\n Groupon (GRPN -3.32%) rallied 24% in after-hours trading on higher sales guidance for the remainder of the year.<\/span>
\n Cirrus Logic (CRUS +2.50%) rallied 14% in after-hours trading after strong revenue guidance and EPS and sales figures that beat the consensus (Q1 EPS of 44 cents vs 27 cent consensus).<\/span>
\n Whole Foods (WFM -1.38%) fell 4% in after-hours trading after missing sales estimates on tougher competition.<\/span>
\n Vertex Pharmaceuticals (VRTX +1.08%) fell -2.5% in after-hours trading after reporting disappointing sales for its Orkambi therapy.<\/span>
\n Barrick Gold (ABX +4.40%) fell -2.6% in after-hours trading after releasing its quarterly earnings report.<\/span>
\n Earnings reports this morning have been nearly all positive with results including: Fifth Third (FITB -0.05%)(0.41 vs 0.38 consensus), Marathon Petroleum (MPC -2.02%)(1.62 vs 0.97), Dow Chemical (DOW +0.17%)(0.95 vs 0.85), Colgate-Palmolive (CL -0.95%)(0.70 vs 0.60), Raytheon (RTN -0.04%)(2.38 vs 2.02), Bristol-Myers (BMY +1.88%)(0.69 vs 0.66), CME Group (CME +1.20%) (1.14 vs 1.11),<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n Altria (NYSE:MO) -1.7% as smokable products volume declined.
\n Amgen (NASDAQ:AMGN) flat AH despite raising guidance.
\n Barrick Gold (NYSE:ABX) -0.4% after missing expectations.
\n Boeing (NYSE:BA) +0.8% after beating estimates.
\n Coca-Cola (NYSE:KO) -3.3% cutting its sales forecasts.
\n Comcast (NASDAQ:CMCSA) +1.1% on a strong Internet business.
\n Corning (NYSE:GLW) -1% following a decline in Q2 profit.
\n Facebook (FB) +4.7% on ad sales growth.
\n GoPro (NASDAQ:GPRO) +1.6% AH after topping expectations.
\n Groupon (NASDAQ:GRPN) +23.8% increasing the level of active users.
\n T-Mobile (NASDAQ:TMUS) +1.5% on new subscriber additions.
\n Whole Foods (NASDAQ:WFM) -5.2% AH as comparable sales declined.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 International trade in goods
\n 8:30 Initial Jobless Claims
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:30 EIA Natural Gas Inventory
\n 11:00 Kansas City Fed Mfg Survey
\n 1:00 PM Results of $28B, 7-Year Note Auction
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/span><\/span><\/span><\/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 Thursday. The Asian\/Pacific markets closed mixed. Japan dropped 1.1%, and Singapore fell 0.8%. India and Indonesia did well. Europe is currently mostly down. Spain and Italy are down more than 1%; Austria, Belgium, the Netherlands, Norway, the Czech Republic, Greece and Poland are also weak. Russia, Denmark and Turkey are doing well. […]<\/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\/9825"}],"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=9825"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9825\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}