Pre-opening Comments for Monday January 6th
U.S. equity index futures were higher this morning. S&P 500 futures gained 3 points in pre-opening trade.
PetsMart fell $1.02 to $70.77 following a downgrade by Deutsche Bank from Hold to Sell. Target was reduced from $73 to $65.
Twitter fell $3.75 to $65.25 after Morgan Stanley and CRT Capital downgraded the stock.
Wendy’s fell $0.18 to $8.50 after Janney Capital downgraded the stock from Buy to Neutral.
Apple dropped $1.98 to $539.00 after Standpoints Research downgraded the stock from Hold to Sell.
Goldman Sachs has taken a more positive stance on U.S. solar stocks. First Solar (FSLR) was upgraded from Sell to Buy. Target was increased from $45 to $62. SolarCity (SCTY) was upgraded from Neutral to Conviction Buy. Target was raised from $65 to $80.
Halliburton (HAL $50.13) is expected to open higher after Wells Fargo upgraded the stock from Market Perform to Outperform.
EquityClock.com Daily Market Letter
Following is a link:
http://www.equityclock.com/2014/01/06/stock-market-outlook-for-january-6-2014/
Economic News This Week
November Factory Orders to be released at 10:00 AM EST on Monday are expected to increase 1.7% versus a decline of 0.9% in October.
December ISM Services to be released at 10:00 AM EST on Monday is expected to increase to 54.6 from 53.9 in November.
November U.S. Trade Deficit to be released at 8:30 AM EST on Tuesday is expected to slip to $40.4 billion from $40.6 billion in October.
November Canadian Merchandise Trade Balance to be released at 8:30 AM EST on Tuesday is expected to slip to a $200 million deficit from a surplus of $100 million
December ADP Employment Change Report to be released at 8:15 AM EST on Wednesday is expected to slip to 203,000 from 215,000 in November.
FOMC Minutes from the December 18th meeting are to be released at 2:00 PM EST on Wednesday
Weekly Initial Jobless Claims to be released at 8:30 AM EST on Thursday are expected to increase to 340,000 from 339,000 last week.
December U.S. Non-farm Payrolls to be released at 8:30 AM EST on Friday are expected to slip to 197,000 from 203,000 in November. December Private Non-farm Payrolls are expected to increase to 198,000 from 196,000 in November. December U.S. Unemployment Rate is expected to remain unchanged from November at 7.0%. December Hourly Earnings are expected to increase 0.2% versus a gain of 0.2% in November.
Canadian December Net Change in Employment to be released at 8:30 AM EST on Friday is expected to increase 13,100 versus a gain of 21,600 in November. The Canadian December Unemployment Rate is expected to remain unchanged from November at 6.9%.
November Wholesale Inventories to be released at 10:00 AM on Friday are expected to increase 0.2% versus a gain of 1.4% in October.
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