This just in but according to Stock Trader's Almanac the last time the SPX finished exactly UNCH'd at 0.00 (0.00%) was 2 decades ago! January of '97! Going back to 1928, this is the 327th time the SPX was exactly flat on the day. Last time flat two days in a row was August '79. The SPX only one time in history was flat three consecutive days and that was in late April '43.
Good Wednesdsay morning Stockaholics, here are the pre-market movers & news this morning- Spoiler: 1/11 Wednesday's Stock News Movers: SVU, SIG, F, BA, TSLA, UAL, WFC, USB, T, SYK, NFLX (Click to Show!) 1/11 Wednesday's Stock News Movers: SVU, SIG, F, BA, TSLA, UAL, WFC, USB, T, SYK, NFLX Good day Stockaholics! Happy Wednesday! Frontrunning: January 11 Russia likely main topic in Trump's first news conference since election (Reuters) Russia Denies Report It Has Compromising Material on Trump (BBG) For Russia, U.S. election meddling claims strip Trump win of luster (Reuters) Obama Urges Unity in Farewell Speech (WSJ) 1930s-like Demographic Pressures Holding Back U.S. Economy (BBG) Chinese bomber flies around contested Spratlys in show of force: U.S. official (Reuters) Tillerson to Call Russia a ‘Danger’ in Confirmation Hearing (BBG) Kelly Distances Himself From Trump Over Border Wall, Russia (BBG) Justice Department Hasn’t Found Evidence to Bring Antitrust Case Against Airlines (WSJ) In China, Insurers Sell Risky Products to Fund Risky Investments (WSJ) Uber signs deal with Dubai regulator after pricing rows (Reuters) Why the Lira’s in Trouble: 2017’s Worst Performer in Charts (BBG) Northern Ireland will still have say in Brexit preparations: PM May (Reuters) Suddenly, Home Sale Agreements Are Falling Apart Across the U.S. (BBG) A Pileup in U.S. Motor Vehicle Inventories (WSJ) Relatives' U.S. bribery case rains on ex-U.N. chief's homecoming (Reuters) ‘Chicken Tax’ Surfaces in Talk of Auto Tariffs (WSJ) Trump Tax Cut Could Add $8.2 Billion to Reynolds Price Tag (BBG) Italy’s New Prime Minister in Intensive Care After Surgery (WSJ) Lebanese Leader Reaches Out to Saudi Arabia in Search of Aid (WSJ) From Brexit to Trump, Polarization Heightens Risk, WEF Says (BBG) STOCK FUTURES NOW: FRIDAY'S MARKET HEAT MAP: FRIDAY'S S&P SECTORS: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (TICKER SYMBOLS ARE CLICKABLE!): JPM SGNL HIMX CLF CUDA URA F TERP WMB CMG MSM TRIL WFC BA WPZ KBH SPXU ENDP PCBK ALB KERX SPWR GS ENPH THIS WEEK'S EARNINGS CALENDAR: TODAY'S EARNINGS RELEASES: BEFORE MARKET OPEN: AFTER MARKET CLOSE: THIS MORNING'S UPGRADES/DOWNGRADES: THIS MORNING'S PRE-MARKET NEWS MOVERS: source: cnbc.com Supervalu — The supermarket operator reported quarterly results that were below analysts' forecasts, as it continues to be hurt by a very competitive grocery market. Supervalu earned an adjusted 5 cents per share, short of the consensus forecast of 13 cents per share. Signet Jewelers — The jewelry retailer reported a 4.6 percent drop in holiday same-store sales, a performance it calls "disappointing." Signet said the drop in sales was due primarily to underperformance in its Sterling e-commerce business. Ford — The automaker said 2017 would be a less profitable year than 2016. That did, however, match a prior forecast. Ford also declared a special dividend of 5 cents per share in addition to its regular quarterly dividend of 25 cents per share. Boeing — Boeing will conduct involuntary layoffs of engineers this year, according to an internal memo seen by Reuters. No specific numbers were mentioned, and the jet maker also mentioned voluntary layoffs in a variety of job categories. Separately, Boeing was edged out by rival Airbus in new orders for 2016, thanks to a late surge. Airbus had 688 new orders for the year, 20 more than Boeing. Volkswagen — The automaker confirmed that it was in advanced talks involving a $4.3 billion settlement with the U.S. Justice Department involving its diesel emissions scandal, and that it would plead guilty to criminal misconduct. Tesla Motors — Tesla hired Apple software engineer Chris Lattner to oversee the development of the electric car maker's Autopilot self-driving software. United Continental — The airline raised revenue projections for the just-concluded fourth quarter and year, thanks to stronger performance in November and December. Wells Fargo — The bank put a new compensation plan in place, following the controversy involving its sales practices. The new plan puts incentives in place that center on customer service rather than sales goals. U.S. Bancorp — The stock was named a "top" pick and given a "buy" rating in a new report by UBS. Rival regional banks BB&T, PNC, and SunTrust were all given ratings of "neutral." AT&T — AT&T was downgraded to "hold" from "buy" at Deutsche Bank, which points to a more balanced risk/reward picture at current price levels as well as tougher fundamentals. Stryker — Stryker said 2016 profit would come in at the high end of its prior forecasts, with the medical device maker helped by both stronger sales and recent acquisitions. Airline stocks — The Justice Department will not bring any action against the industry following an investigation into collusion, according to The Wall Street Journal. The probe had focused on whether airlines were coordinating flight capacity to keep airfares high. American Airlines, Delta Air Lines, United Continental, and Southwest had all received subpoenas asking for information about their practices. Netflix — Netflix was added to JPMorgan Chase's U.S. Focus List. The firm called Netflix its #2 large cap stock pick behind Facebook, saying the video stream service should benefit from stronger content, increased revenue, and putting a recent price increase behind it. Have a good trading day to everyone in here on this Wednesday!
US Auto stocks fared badly in 2016 despite S&Ps 10% gains - and this is despite record sales of 17.55mn vehicles. Investors believe auto sales have peaked. But that is just one of the concerns that the US auto sector faces this year. Trump policies are sure to reshape the industry dynamics. Consider this: 1) To discourage automakers from moving production to Mexico, Trump policies could lead to renegotiation of NAFTA, imposition of border tax on vehicles and parts imports. Openly criticising Ford for its investments in Mexico, tweeting to tax GM, indicate his steps in this direction. With 40% of annual auto volume being imports, these policies could significantly increase prices of imported vehicles, impact manufacturer margins and dent auto demand. 2) While Trump's leaning towards fossil fuels could bring in some regulation benefits for the industry, there is a possibility that individual states might go against federal vehicle standards. This move will only harm the auto makers as they operate with multiple sets of vehicle standards. Further, relaxation of fuel economy standards could bring major headwinds to the growth of electric vehicles, reduction of tax credits could greatly impact their affordability. For the capital-intensive auto industry, this policy uncertainty is unnerving, as it might impact their billion dollar investments on new factories in other geographies and product research. It remains to be seen if the auto makers let business sense prevail over political influence while taking long term investment decisions. Read more about the US auto companies here: http://hubs.ly/H05S7Dr0
Looking like another flat open today. Probably going to be uneventful again. Maybe the trump "rally" will spark things up at 11AM eastern.
He said the bios are out of control cost wise, and he wants to reign that in via the bidding process, at least thats what I understand from his stream of consciousness speaking
