29 Jan 2013
Market Summary
Market Internals
Leaders and Laggards
Technical Updates
Briefing's Commentaries
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After Hours
16:55 ET UIS +9.7%, AMZN +9.5%, DLB +4.7%, KTCC -16.9%, CODE -8.5% following earnings/guidance :
Equities finished today's session on a mixed note. The Dow and S&P 500 gained 0.5% each, while the Nasdaq underperformed, and ended flat. However, looking below the surface revealed the sector rotation which took place today.
Other notable after hours movers on earnings: UIS +9.7%, AMZN +9.5%, DLB +4.7%, PRXL +4.3%, RYL +3.1%, PLT +2.8%, MANH +2.4%, HTCH +2.2%, KEYN +0.6%, KTCC -16.9%, CODE -8.5%, HA -7.3%, WBSN -7.0%, ACE -4.6%, WAIR -3.9%, AZPN -3.3%,VRTX -2.1%, BRCM -0.9%
Today after the close the following companies reported earnings: MANH, RHI, HUBG, SFG, ACE, BKI, BRCM, BXP, HA, HLIT, MRCY, UIS, WBSN, MBFI, MERU, POL, RYL, SLGN, AMZN, CODE, FFBC, FSL, IXYS, JLL, AJG, BBOX, CSE, KEYN, PLT, PRXL, PSEM, QNST, IVAC, AZPN, VRTX, QGEN, DLB, HTCH, MTSI, WAIR
Futures are higher after hours: S&P 500 futures are +1.50 from fair value of 1502.90 and Nasdaq100 futures are +7.20 from fair value of 2737.55.
Tomorrow morning before the open four economic reports are scheduled to be released: 1) MBA Mortgage Index, 2) ADP Employment Change (Consensus 175k), 3) GDP-Adv. (Consensus 1.0%), and 4) Chain Deflator-Adv. (Consensus 1.6%).
Tomorrow before the open the following companies are scheduled to report earnings: PJC, MAN, BOH, MWV, ST, AVY, BA, CFR, DHX, FCF, HCBK, NOC, NYCB, SEIC, SLAB, EVR, VLY, WRLD, TCB, CVLT, HAE, BAH, OIIM, PSX, WEC, ABFS, CEVA, LLL, MPC, SAIA, HES, MKTX, AUDC, DSPG, HNT, ROK, SO, MTOR, ADT, GIB, CBF
Commodities
Treasuries
Next Day In View
Jason's Commentaries
Both DOW and SPX ended up but Nasdaq decided to end lower yesterday. Looking at the internals, I was right on this. Although Dow and SPX moves more than I expected. The market is currently bullish and is not looking to profit take till the end of Jan. Seems that we got only 2 days to the end of Jan, the chances of having a down Jan is very low now.
Bonds are starting to sell of and the 30y are coming back to above 3.2% and the 10y is now back above 2%. It seems that the risk market right now is favoring the equities market and money is flowing back. While looking at technicals... it has been rallying like no ones' business for the past 2 weeks. Average volumes is up to 700mil shares traded on the NYSE which is getting more volumes back.
Since we're having the ADP job report and the FOMC statement which is coming out at 2.15pm ET, the market will be in a crazy gyration. And I believe that today will likely to retrace a lot.
Market Call: DOWN
Date: 29 Jan 2013
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