Join        Login             Stock Quote

Stock Market Opening Report - December 21,2012

 December 20, 2012 10:48 PM

(By Rich Bieglmeier) Ho-ho-ho, with two days left; will stocks give it a go? Probably not. iStock rewound the S&P's historical prices back to the turn of the century – 2000 – and found that the last two days before Christmas tend to be as quiet as a mouse. You knew that was coming, didn't you?

Oddly, even numbered years have all the negative performance, losing ground in three of the six years. Throw out 2000, and the remaining five even numbered years have averaged a loss of 0.28%. Traders might as well head for the long weekend today. I know, I know, this numerology stuff is all hocus-pocus, but thought it was worth pointing out. BTW – if you are reading this, does it mean the world didn't end? Hey, how about a shout out from our friends in Australia. Are you there, or do we have something to worry about?

[Related -Lululemon Athletica inc. (LULU): Near-Term Risks Could Further Derail Investor Confidence]

Since we are still here and need to deal with Wall Street and the goofballs also known as politicians, stocks have managed to make gains for the last two days before Christmas in nine of the last 12 years. Overall, the average return has been 0.63%. Man, traders and investors must be only slightly better than naughty. Stocks have been nice enough to put more than 1% in trader's stockings before the holiday just three times since 2000.

While the volume and price might be quiet for the next couple of days, big news gets unwrapped before the market opens this Friday. Durable Goods Orders and Personal Income & Outlays will be announced at 8:30 am EST. Wall Street anticipates Durable Goods to rise by 0.5%. Considering the strength in cars and word $9 billion in orders for Boeing (BA), we wouldn't be surprised to see a better than expected result, maybe in the neighborhood of 0.7%; although, exports around the globe are weak.

[Related -Nike Inc. (NYSE:NKE) Q2 Earnings Preview: Just Doing It, Again]

While you are more concerned with the income side of the Personal Income & Outlays side of the announcement, Wall Street is more focused on spending. Economists say spending rose by 0.4%, considering the string of retail and spending misses, iStock thinks we'll be hard pressed to see a reading above today's target.

On the fiscal cliff front, House Republicans are expected to pass a number of measures to bypass the cliff; however, Harry Reid sent the Senate home for Christmas. The bus is teetering, better head for the emergency exit at the back.

We think the odds are small that Wall Street sends everybody home for Christmas with nasty losses, no matter how the economic reports and politicians act. After all, shouldn't we all celebrate the fact that the Mayans were wrong, and we are still here?

Finally, as you can imagine, earnings announcements for the week ahead are small, three by our count, but one did manage to qualify for our iEstimates.

CompanyTickerDateEPSiEstimateSurprise% Surp
Cal-Maine FoodsCALM12/23/2012$0.95$1.07 $0.1212.63%

Last week's iEstimates results.

CompanyTickerDateEPSiEstimateSuprprise% SurpriseActual
Apogee EntrprsAPOG12/18/2012$0.23$0.30 $0.07 30.43%$0.280
Conagra FoodsCAG12/19/2012$0.55$0.56 $0.01 1.82%$0.570
Chinaedu Cp-AdrCEDU12/19/2012$0.11$0.13 $0.02 18.18%$0.115
Discover Fin SvDFS12/19/2012$1.11$1.13 $0.02 1.80%$1.070
Nike Inc-BNKE12/19/2012$1.00$1.04 $0.04 4.00%$1.140
Steelcase IncSCS12/19/2012$0.13$0.14 $0.01 7.69%$0.140
Shiloh Inds IncSHLO12/19/2012$0.19$0.25 $0.06 31.58%$0.210
Kb HomeKBH12/20/2012$0.06$0.09 $0.03 50.00%$0.100


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.