Overnight Summary & Early Morning Trading:
- The S&P 500 finished Friday higher by 0.80% at 7165.08 from Thursday lower by -0.41% at 7108.40.
- The S&P 500 sees support now at 7100 from 7000. Resistance is now at 7200 from 7100. In the last month, support has moved from 6300 to 7100.
- S&P 500 hit its ninth All-Time Closing High of 2026 Friday.
- Futures are lower this morning by -4.25 by -0.06% at 7190.75 on the SP 500 at 6:30 a.m. EDT.
- Bond Market is higher today on price with the 10-Year Yield at 4.314% from 4.333%.
Executive Summary:
- Stocks had a fourth up week, with the S&P 500 gaining 12.50% in the last four weeks. We are now up 2.68% since the peak in January on the S&P 500.
- U.S. moves into Week Ten of its attack on Iran. Key to this week is to see how the U.S. Blockade plays out and negotiations evolve.
Key Events of Notre Today:
- Economic news of note.
- Weekly – None of note.
- Monthly – Noneof note.
- Fed Speakers of Note today: We are still in the blackout period for this week’s meeting.
- 5-Year Note Auction at 1:00 p.m. EDT.
- President Trump’s schedule:
- Participates in Executive Time at 8:00 a.m. EDT.
- Participates in a Policy Meeting at 1:30 p.m. EDT.
- The President and The First Lady participate in a Greeting with the King and Queen of the United Kingdom of Great Britain and Northern Ireland at 4:15 p.m. EDT.
- The President and The First Lady participate in Tea and a Beehive Tour with the King and Queen of the United Kingdom of Great Britain and Northern Ireland at 4:20 p.m. EDT.
- Participates in a Policy Meeting at 5:30 p.m. EDT.
Notable Earnings Out After The Close:
- Beats: None of note.
- Misses: None of note.
- Flat: None of note.
Capital Raises:
- IPOs For The Week: None of note.
- New IPOs/SPACs launched/News: IPOs Ahead This Week: None of note.
- IPOs Filed/Priced: None of note.
- Secondaries Filed Or Priced:
- BMNR: Form S-2.. 501,545 Shares of Common Stock.
- BURU: Form S-3.. Up to 60 million Shares of Common Stock.
- CTXR – Closing of Registered Direct Offering of $5 Million Priced At-The-Market Under Nasdaq Rules.
- LASE: Form S-1.. Up to 1,373,630 Shares of Common Stock Underlying the Series A-3 Warrants.
- LODE: Form S-3.. 4,110,673 Shares of Common Stock.
- MVIS: Form S-3.. Up to 61,315,970 Shares of Common Stock.
- OKUR: Form S-3.. 36,144,595 Shares of Class A Common Stock.
- TOPS: Form F-1.. Up to 50,000,000 Common Shares.
- Notes Filed Or Priced: None of note.
- Convertible Offerings Filed or Priced: None of note.
- Private Placement: None of note.
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Private Placements: None of note.
- Selling Shareholders: None of note.
- Mixed Shelf Offerings:
- ADC: Form S-3ASR Mixed Shelf.
- BRT: FormS-3.. $150,000,000 Mixed Shelf.
- EBON: Form F-3.. US$75,000,000 Mixed Shelf.
- ISAI: Form S-3.. $100,000,000 Mixed Shelf.
- PENN: Form S-3ASR Mixed Shelf.
- SES: Form S-3.. $300,000,000 Mixed Shelf.
News After The Close:
- Johnson & Johnson (JNJ) to offer four prescription drugs through TrumpRx, according to CBS News.
- IonQ (IONQ) and SkyWater (SKYT) disclose that on April 24, 2026, they each received a request for additional information (the “Second Request”) from the US Federal Trade Commission in connection with the FTC’s review of the Mergers.
- Bettors on Kalshi see Warsh being confirmed by mid-May. (CNBC)
- X-Energy (XE) trades up nicely on its first day of trading on Friday. (CNBC)
- SiriusXM (SIRI) said to be in talks to buy iHeartMedia (IHRT). (NYT)
Last Week’s Winners: ANAB (57.77 +28.38%), SXT (122.68 +22.36%), URI (972.39 +22.14%), PBI (15.54 +20.99%), HELE (23.21 +23.04%), MXL (60.28 +129.44%), RMBS (158.68 +25.01%),POWI (73.24 +24.88%), AMD (346.44 +24.44%), CEVA (28.77 +22.82%), LBRT (32.72 +24.41%), RES (8.02 +22.74%), PUMP (17.09 +22.39%), PTEN (11.40 +20.97%).
After the Close Losers: AGIO (25.22 -28.24%),MEDP(409.55 -21.33%),CAR(206.16 -58.26%), ASGN (18.82 -52.29%), HTZ (5.68 -23.52%), FLY (35.17 -19.56%), TSCO (36.7 -18.47%), STNE (12.07 -20.07%).
Buybacks:
- SWK approves $500 million share buyback authorization.
- ADC enters into an at-the-market (ATM) equity distribution agreement to offer up to $1.75 billion of common stock.
Executive, Corporate Changes:
- LEE names Nathan Bekke as CEO and Josh Rinehults as CFO.
- NINE announces that Guy Sirkes notified the company of his decision to resign from his role as Executive Vice President and Chief Financial Officer in order to accept a position at another company.
Dividends Announcements or News:
- Top Names Ex-Dividend Today: ASML TXNM of note.
- Top Names Ex-Dividend Tuesday: FAST VISN of note.
- FIX increases quarterly dividend to $0.80 per share from $0.70 per share.
- AMP increases quarterly cash dividend to $1.70 per share from $1.60 per share.
- PFG increases quarterly dividend to $0.82 per share from $0.80 per share
- PH increases quarterly dividend 11% to $2.00 per share.
What’s Happening This Morning: (as of 7:30 a.m. EDT)
- Futures S&P 500 +2, NASDAQ 100 +52, Dow Jones -40. Europe is higher while Asia is mixed. Bond yield is at 4.314% from 4.333% on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas higher. Gold and Silver are lower with Copper higher. The U.S. Dollar is lower versus the Euro, lower against the Pound and lower against the Yen. Bitcoin is at $77,868 lower by -0.50% down $-390 from $78,288 higher by $531 up +0.67% on Friday.
Sector Action:
- Daily Positive Sectors: Technology, Consumer Cyclicals, Communication Services, Materials and Utilties led the way higher.
- Daily Negative Sectors: Healthcare, Industrials, Consumer Defensive and Financials were lower.
- One Month Winners: Energy of note.
- Three-Month Winners: Energy, Materials, Utilities, Consumer Defensive and Industrials of note.
- Six-Month Winners: Energy, Materials, Utilities, Industrials, Healthcare and Consumer Defensive of note.
- Twelve-Month Winners: Materials, Energy, Industrials, Utilities, Communication Services and Technology of note.
- Year to Date Winners: Energy, Materials, Consumer Defensive, Utilities and Industrials of note.
Bolded means the Sector is new to the period in which it falls.
Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Today After the Close:
- Tuesday Before The Open:
Notable Earnings of Note This Morning:
- Beat: VZ +0.07, LFKN +0.03 of note.
- Missed: DPZ (0.14) of note.
- Flat: None of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: After The Close & This Morning – VZ of note.
- Mixed – None of note.
- Negative or Mixed Guidance: After The Close & This Morning – None of note.
Advance/Decline Daily Update:
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- Gap Up: NTLA +29.5%, OGN +16.4%, MANE +11.7%, LEE +10.4%, ADGM +7.3%, MRT +5.2%, ORKA +4%, NINE +3.8%, BGIN +3.8%, PLSE +3.5%, CPAC +2.8%, CP +2.7%, WRD +2.6% of note.
- Gap Down: CMPX -12.5%, DPZ -4%, SPIR -3% of note.
Insider Action: SON NMM see Insider Buying with dumb short selling. None see Insider Buying with smart short sellers. Above $100,000 in purchases with high shorts but no history: None of note.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- WSJ Lead Story: The Simple Security Flaws That Exposed Trump To Another Gunman. (WSJ)
- NY Times Lead Story: If On Shoes are for everyone, are they still Ons? (NYT)
- USA Today: No Fed Rate move expected. (USA Today)
- Bloomberg: Iran Foreign Minister to meet with Putin as US Talks at stalemate. (Bloomberg)
- China bans Meta’s acquisition of Manus. (WSJ)
Economic & Geopolitical:
- Federal Reserve Speakers of note today: Now in blackout period until next week’s FOMC meeting.
- President Trump’s schedule for today:
- Participates in Executive Time at 8:00 a.m. EDT.
- Participates in a Policy Meeting at 1:30 p.m. EDT.
- The President and The First Lady participate in a Greeting with the King and Queen of the United Kingdom of Great Britain and Northern Ireland at 4:15 p.m. EDT.
- The President and The First Lady participate in Tea and a Beehive Tour with the King and Queen of the United Kingdom of Great Britain and Northern Ireland at 4:20 p.m. EDT.
- Participates in a Policy Meeting at 5:30 p.m. EDT.
- Economic Data Out –
- Weekly –
- None of note.
- Monthly –
- None of note.
- Weekly –
M&A Activity & Daily: None of note.
Moving Average Table: 94% from 83% of Equities are Positive, and 44% from 20% Bonds are Positive. Today we are showing the DMA Levels instead of the moving averages.
Meeting & Conferences of Note: NOT UPDATED
- Sellside Conferences:
- Needham Psychedelics Forum
- Oppenheimer Innovation on the Island
- Top Analyst, Investor: ADGM DAL INV WEX of note.
- Shareholder Meetings: BLD CR GPC STAG of note.
- Fireside Chat: None of note.
- FDA Presentation: None of note.
- R&D Day: None of note.
- Meetings: None of note.
Upgrades & Downgrades:
The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.
Upgrades: FBP FTNT ROL SNAP of note.
Downgrades: COLD LINE of note.