Good Morning folks,
So we got the big bazooka from the ECB and the market seemed to like what they heard. I find it perplexing that the world economies racing to devalue their currency is viewed as a good thing. In all fairness we were the ones to start this whole mess and who knows how it will all turn out in the end.
For now it is making the dollar incredibly strong only because everything else is so weak. The market had a great bounce yesterday and after doing my scans it looks as though we may have a bit more in this little run. SMH IBB NDAQ SPY IWM all look like they could head higher. Oil continues to struggle and Gold has had a nice little run but it could be getting a bit extended. If you look at the indexes we have been trading in a range and at some point (hopefully soon) we will start trending again.
One thing I am keeping a close eye on is employment. It may just be me but it seems like there have been a lot of layoff and workforce reduction announcements but that is a longer term view.
How the Death of Saudi King Abdullah Could Affect Oil Prices dlvr.it/8CNYBT
The Elections in Greece this weekend could also provide some sort of catalyst on Monday.
For the immediate time frame we can focus on earnings.
UPS just issued a warning stock is getting hit hard MCD also reported weak earnings
Stocks on my radar
INFN gapper of better than expected earnings and raised expectations wait for a setup testing 52 week highs, ARRY possible continuation wait for a pullback gapping premarket, PEIX possible bounce play continuation, PLUG possible continuation. VTAE priced its offering and catching a bounce thin one, HIMX consolidating near 8 possible continuation, VJET looking to add to my swing, TASR holding up well near 52 week highs
NUGT JDST IWM IBB TZA TVIX UWTI GASL SPY NDAQ USO UUP for market sentiment
Seeking Alpha
Today's Markets:
In Asia, Japan +1.1% to 17512. Hong Kong +1.3% to 24850. China +0.3% to 3353. India +0.9% to 29279.
In Europe, at midday, London +0.2%. Paris +1.7%. Frankfurt +1.4%.
Futures at 6:20: Dow +0.1%. S&P flat. Nasdaq flat. Crude +1.1% to $46.84. Gold -0.5% to $1294.70.
Ten-year Treasury Yield +4 bps to 1.90%
Notable earnings before today's open: BK, COL, FHN, FNFG, GE, HON, KMB, KSU, MCD, PB, STT, SYF
CNBC in the News
 | IN THE NEWS TODAY |
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| King Abdullah's brother, Crown Prince Salman, is succeeding him as the new ruler of the world's top oil exporter, and vowing to maintain the same approach as his predecessors. (CNBC) |
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| U.S. stocks look to keep their winning streak going today, after Wall Street powered higher on the ECB's $1.2 trillion bond purchase program. With Thursday's gains, the S&P 500 turned positive for 2015. (CNBC) |
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| The next obstacle for the European Union is the election in Greece, with voters choosing a new parliament this Sunday. The anti-austerity opposition party is favored to win, but without an overall majority. (CNBC) |
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 On this last day for CNBC's "Squawk Box" in Davos, Goldman Sachs(GS) boss LLoyd Blankfein and Treasury Secretary Jack Lew join us in our 8 a.m. ET hour. |
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| Alibaba (BABA) Founder Jack Ma, said in a Davos interview with Charlie Rose, that he believes the Chinese e-commerce giant is still in the very early stages of reaching its full potential. (CNBC) |
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| Dow component General Electric (GE) today reported a quarterly profit of 56 cents per share, beating estimates by a penny. Revenue was slightly shy of consensus, as falling orders in the oil and gas segment pressured results. Meanwhile, McDonald's (MCD), another Dow stock, is also reporting results this morning. |
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| GlaxoSmithKlein CEO Sir. Andrew Witty joins us at 7:45 a.m. ET to talk about the trial and the promise of the drugmaker's Ebola vaccine. |
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| Starbucks (SBUX) said it's moving ahead with previously announced plans to introduce delivery in the second half of this year. The coffee giant also issued in-line earnings and revenue but light guidance. (CNBC) |
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| Online storage provider Box (BOX) is set to begin trading today, after pricing its IPO at $14 a share, above the expected range, giving the stock a $1.7 billion market valuation. (CNBC) |
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| Cameron and Tyler Winklevoss are trying to firm up support to create the first regulated bitcoin exchange in the U.S., dubbing it the "Nasdaq of Bitcoin." (NY Times) |
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| As part of his plan to simplify the tax code, President Obama is proposing a radical change to the 529 college savings plans: New contributions could no longer be withdrawn tax-free. (NY Times) |
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| BY THE NUMBERS |
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| Investors get new numbers on the nation's housing market, with the National Association of Realtors releasing December existing home sales at 10 a.m. ET. Economists expect a 3 percent increase to an annual rate of 5.08 million units, following a 6.1 percent slide in November. |
| The Conference Board releases at the same time its December Index of Leading Economic Indicators, seen rising 0.5 percent on top of a 0.6 percent increase in November. |
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| STOCKS TO WATCH |
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| Sony (SNE) will delay its third-quarter earnings report, stemming from the massive hacking attack on its Sony Pictures Entertainment unit. |
| DreamWorks Animation (DWA) is cutting 500 jobs as part of a restructuring, which will see it cut the number of films it produces each year to two from three. |
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| Novo Nordisk (NVO) expects launch its obesity treatment Saxenda in Europe this year, following a positive opinion from authorities. The Danish company said final approval should come within two to three months. |
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