Good morning folks,
It appears that we are getting a little bounce this morning which doesn't come as a big surprise considering the sell off we had on Friday. I remain very cautious longer term however, as I said in the video's we can still have that Santa Clause rally. This is not a time to chase anything, let the market open and see where things settle.
Stocks on the Radar
TWTR caught an overweight upgrade this morning and it looks like its catching a bounce. BABA TSLA GPRO and AAPL are all green premarket I will be paying attention to the action in those stocks and the amount of conviction behind the moves. RVBD is being acquired JNPR could be a decent sympathy play.
OPK pr gapper could be in play all day, CALA continuation gettin a bit extended on the daily going parabolic, CANF active this morning off pr light volume, ACHN nice looking daily could be at a nice bounce spot, NVAX like the daily, INFN hot daily, TLM looking for the 5 dolla holla, FEYE possible bounce off pr
TVIX TZA JNUG USO UUP NDAQ and SPY for market sentiment
Video links from this weekend
Seeking Alpha
Today's Markets:
In Asia, Japan -1.6% to 17099. Hong Kong -1% to 23028. China +0.5% to 2954. India -0.1% to 27320.
In Europe, at midday, London +0.5%. Paris +0.5%. Frankfurt +0.4%.
Futures at 6:20: Dow +0.6%. S&P +0.7%. Nasdaq +0.8%. Crude +0.7% to $58.22. Gold -0.9% to $1211.40.
Ten-year Treasury Yield +4 bps to 2.13%
Notable earnings after today's close: FCEL, PAY, WG
CNBC in the news
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| U.S. stock futures were sharply higher in early trading, after Friday's 315-point Dow drop that contributed to its worst week since 2011. Oil touched new multi-year lows this morning, but later rebounded strongly following last week's 12.5 percent decline. (CNBC) |
 Joe Petrowski, former CEO of Gulf Oil, joins CNBC's "Squawk Box" at8 a.m. ET with five reasons, he says, oil prices will bottom at $55 a barrel. |
| With the slide in oil, Fed policymakers have a lot to consider when they meet for the last time of the year. Their two-day meeting starts tomorrow, and comes against the backdrop of accelerating growth in the economy and jobs, with low inflation. (Reuters) |
| Five people fled a Sydney cafe where a gunman took hostages duringMonday morning rush hour. The prime minister of Australian said the attack could be politically motivated. (CNBC) |
| The Afghanistan war, the longest overseas conflict in American history, hascost taxpayers nearly $1 trillion and may cost several hundred billion more after it officially ends this month, according to FT calculations and independent researchers. |
| President Barack Obama is expected to sign by Wednesday the $1.1 trillion spending bill that passed by the Senate Saturday and the House last week, lifting the threat of a government shutdown right before the holidays. (Reuters) |
| Pet supply retailer PetSmart (PETM) has given in to calls from some shareholders for a sale, with an agreement to be purchased by a private equity consortium led by BC Partners for $8.7 billion. (Reuters) |
| An appeals court is scheduled to consider today whether Apple’s (AAPL)pricing agreements with e-book publishers amounted to a deft market maneuver or an illegal conspiracy. (WSJ-subscription) |
| With Paris taxi drivers blocking roads today in protest of Uber, the French government said it's going to ban the American ride-hailing service in the new year. (Reuters) |
| The hackers of Sony Pictures have stolen an early version of the script of "Spectre," the upcoming installment of the James Bond 007 series, which started shooting this month. (Telegraph) |
| The Hunger Games: Mockingjay – Part 1 ceded its three-week box office reign to "Exodus: Gods and Kings," which debuted with a $24.5 million in tickets sales. (Variety) |
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| The Monday session on Wall Street will be preceded by several economic reports, starting with the New York Fed’s Empire State Manufacturing Indexat 8:30 a.m. ET. Economists are looking for a December reading of 11.0, following 10.2 last month. |
| At 9:15 a.m. ET, the government releases November industrial productionand factory capacity utilization, with production expected to be up 0.6 percent compared to a 0.1 percent decline in October. Capacity utilization is seen rising to 79.4 percent from the prior month’s 78.9 percent. |
| There are no major earnings reports before today’s opening bell, withVeriFone Systems (PAY) on a short list of companies scheduled to report after the close. |
| Since bond titan Bill Gross bolted for Janus, aggressive maneuvers by remaining Pimco executives have helped slow an investor exodus and defend its turf, according to a report in the Wall Street Journal. |
| Bill Gross, portfolio manager of the Janus Global Unconstrained Bond Fund, gives his first television interview since leaving Pimco to CNBC’s “Street Signs” at 2:30 p.m. ET. |
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| STOCKS TO WATCH |
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| Bob Evans Farms (BOBE) Chief Executive Steve Davis has resigned by mutual agreement effective immediately as its board steps up efforts to revamp the restaurant and packaged food company following a proxy fight. |
| Juniper Networks (JNPR) may add new directors to its board, following talks with activist investor Elliott Management to avoid a proxy fight. Elliott owns about 9 percent of the networking products maker’s shares. |
| Emerson Electric (EMR) is said to be close to a sale of its power transmission business to Regal Beloit (RBC) for more than $1.2 billion. Regal Beloit is a maker of various power products like electric motors and generators. |
| Microsoft’s (MSFT) Bing search engine has been dropped from the Facebook(FB) website, following the introduction of a new search tool by the social networking giant. |
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| WATERCOOLER |
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| Today is expected to be the busiest day ever for FedEx (FDX), UPS (UPS) and the United States Postal Service, as shoppers rush to send last minute holiday gifts in a year marked by a surge in e-commerce. (USA Today) |
| Insurers and the government are bracing for big surge in Obamacare sign-ups ahead of today’s enrollment deadline for coverage beginning on the first of the new year. (Healthcare.gov) |
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