Wall Street's expensively compensated army of "experts," eh?
What would we ever do without them. The same self-styled gurus who
assured us tapering was
a slam dunk in September
flabbergasted in December
when the announcement ultimately arrived. As a result, both the
S&P 500 Index
(INDEXSP:.INX) each ended at historic highs. US stock markets
soared as the Fed, which has an
American eagle emblazoned upon its DC
, presented investors with a black swan event that arrived
on the wings of a dove
. Just so long as they stay away from ducks, for those
quackpots recently turned Washington into a
. Impressive economic reports also boosted bourses, including the
strongest monthly showing in housing starts since January 1990.
That was indeed a banner month for capitalism, when Romania became
the first Warsaw Pact member to ban the Communist party and the Dow
hit a record (of 2,810.15; how terribly quaint). As Ben Bernanke
engineered a Hollywood ending to his tenure as Fed head, Bollywood
) advanced 2.16% on an
upbeat analyst assessment
, and cinema stock
) soared 5.00% on its trading debut. Alas, not all shares fared as
Marks & Spencer
(OTCMKTS:MAKSY), a darling of Margaret Thatcher, dropped 1.28% on
. The Iron Lady, famously described as "the only man in her
cabinet," would find it amusing that the iconic English retailer
now sells gender-neutral toys
In terms of economic events that may move US markets today,
December's Philadelphia Fed Index, along with last month's leading
indicators and existing home sales, all arrive at 10:00 a.m.
Eastern. Regarding specific stocks, expect earnings announcements
(ABBV): Morgan Stanley moves the stock to Equal Weight from
(CAJ): Japanese electronics giant Canon sees its stock slashed to
Neutral from Buy at Citigroup.
(F): Ford Motor stock is cut to Hold from Buy at boutique brokerage
Craig-Hallum. Shares of Ford Motor fell 6.29% yesterday.
(JPM): Stock in JPMorgan Chase, a key Dow component, is now Neutral
from Buy at SunTrust.
(PBYI): Stifel cuts Puma Biotechnology stock to Hold from Buy. This
is essentially a stretched valuation call, as neratinib sales
estimates remain relatively robust.
(SLTM): Shares get lowered to Perform from Outperform at Leerink
New Stock Coverage: Listen Up, Chaps -- Ralph Lauren Is
Dressed for Success
Stock Upgrades: Callaway Golf Fit for a