CAPIS Morning Note – 04/10/26: S&P 500 Is Now Up 7 Days In A Row. Can It Hit 8 Days?

Overnight Summary & Early Morning Trading: The S&P 500 finished Thursday higher by 0.62% at 6824.66 from Wednesday higher by 2.51% at 6782.81. The S&P 500 sees support now at 6800 from 6700. Resistance is now at 6900 from 6800. A gain of one level from yesterday. S&P 500 hit its fourth All-Time Closing High […]

Overnight Summary & Early Morning Trading:

  • The S&P 500 finished Thursday higher by 0.62% at 6824.66 from Wednesday higher by 2.51% at 6782.81.
  • The S&P 500 sees support now at 6800 from 6700. Resistance is now at 6900 from 6800. A gain of  one level from yesterday.
  • S&P 500 hit its fourth All-Time Closing High of 2026 on 1/27/26. It has been over one month since a new all-time high.
  • Futures are higher this morning by +2 at 6865 on the SP 500 at 6:50 a.m. EDT.
  • Bond Market is lower today on price with the 10-Year Yield at 4.289% from 4.287%.

Executive Summary:

  • Stocks finally had an up week, 3.36%, after having lost -4.63% in the last five weeks and -9.09% since the peak in January on the S&P 500. We are not out of the “Danger Zone”. 
  • U.S. moves into Week Seven of its attack on Iran. Key to this week is to see if the ceasefire holds.
  • Jack’s Radar nailed it yesterday: Lamb Weston (LW) indicated higher after JANA Partners disclosed the purchase of 236,000 shares at $40.81 – $41.41 worth approximately $9.7 million (transaction dates 4/7-4/8) (41.61). Jack featured it yesterday in the Insider section.
  • New bi-weekly short interest after the close today.
  • QPI Overbought RSI Indicator is the most overbought on the S&P 500 since October 29th. S&P 500 has been up 7 trading days in a row.

Key Events of Note Today:

  • Economic news of note is still backed up due to the government shutdown, but we will be producing what is scheduled to be reported.
    • Weekly – Baker Hughes Rig Count is out at 1:00 p.m. EDT.
    • Monthly –  CPI, Factory Orders, University of Michigan Consumer Sentiment and Treasury Budget are out this morning
  • Fed Speakers of Note today: None of note.
  • President Trump’s schedule:
    • Participates in Executive Time at 8:00 a.m. EDT.
    • Participates in Policy Meetings at 2:30 p.m. EDT and 3:30 p.m. EDT.
    • Heads to Charlottesville, VA for a MAGA Meeting and Dinner at 6:30 p.m. EDT and 7:15 p.m. EDT.

Notable Earnings Out After The Close: 

  • Beats: WDFC +0.09 of note. 
  • Misses: None of note.
  • Flat:  None of note.

Capital Raises:

  • IPOs For The Week: None of note.
  • New IPOs/SPACs launched/News: None of note.
  • IPOs Filed/Priced: None of note.
  • Secondaries Filed Or Priced:
    • ANTX files for $300 million common stock offering.
    • LGN – Closing of Upsized Secondary Underwritten Public Offering of Class A Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares.
  • Notes Filed Or Priced: None of note.
  • Convertible Offerings Filed or Priced:
    • CRWV Upsize and Pricing of $1,750 Million of Senior Notes.
  • Private Placement: None of note.
  • Direct Offering: None of note.
  • Exchangeable Subordinate Voting Shares: None of note.
  • Selling Shareholders:
    • ANTX also files for 14,035,104 share common stock offering by selling shareholders.
  • Private Placements: None of note.
  • Mixed Shelf Offerings:
    • DGXX files for $750 million mixed securities shelf offering.
    • ANTX: Form S-3.. $300,000,000 Mixed Shelf.
    • SWAG: Form S-3.. $150,000,000 Mixed Shelf.

News After the Close:

  • 10K or 10Q Delays – None of note.
  • Cohen & Steers (CNS) reports preliminary assets under management of $93.1 billion as of March 31, 2026, down from $98.4 billion at February 28, 2026.
  • LMT awarded a $4.76 billion Army contract. 
  • ConocoPhillips (COP) ticks lower on report it has sent a team to Venezuela to evaluate oil prospects.
  • Rocket Lab USA (RKLB) signs multi-launch deal with Institute for Q-shu Pioneers of Space, Inc
  • OpenAI says it holds a computing edge over Anthropic. (Bloomberg)

After Hours Winners: SLP +12.50%,CARS +2.2%

After Hours Losers: NMG -12.4%, TGLS -9.9.%,

Buybacks: None of note.

Executive, Corporate Changes:

  • CRDF names Mani Mohindru, PhD, as President and CEO, following her time as Interim CEO, and that she will continue as a member of the Board.
  • CRDF appoints Josh Muntner as CFO and Ajay Aggarwal, MD, MBA, as COO, effective April 6 and April 27, respectively.
  • KMX announces William Cobb and Jim Kessler to join the board; Starboard agrees to withdraw its director nominations.
  • WTFC Chairman Patrick Hackett to retire.

Dividends Announcements or News:

  • Top Names Ex-Dividend Today: VZ T GD MRVL HLN DRI IHG GIS TOL VIPS LNC SAIC BKU AAP AEO of note.
  • Top Names Ex-Dividend Monday: ESLT GFL GGG HRL OZK KEN HLIO GNL WERN UTZ of note.
  • SND declares $0.10 per share special dividend.

What’s Happening This Morning: (as of 7:30 a.m. EDT)

  • Futures S&P 500 +7, NASDAQ 100 +48, Dow Jones -2. Europe is higher while Asia is higher ex Australia.  Bond yield is at 4.289% from 4.287% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas lower. Gold and Silver are lower with Copper are higher. The U.S. Dollar is lower versus the Euro, lower against the Pound and higher against the Yen. Bitcoin is at $71,998 lower by -0.07% down $50 from $$71,177 lower by -0.14% down $89.

Sector Action:

  • Daily Positive Sectors: Consumer Cyclical, Industrials, Consumer Defensive and Utilities led the way higher.
  • Daily Negative Sectors: Energy, Materials and Healthcare 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: None of note.
  • Monday Before The Open: GS FAST of note.

Notable Earnings of Note This Morning:

  • Beat: None of note.
  • Missed:  None of note.
  • Flat: None of note.
  • Still to Report: None of note.

Company Earnings Guidance:

  • Positive Guidance: After The Close & This Morning – None 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%):

  • GapUp: SLP +15.2%, LOT +9.9%, TLX +8.7%, COHR +3.7%, VRCA +3.3%, TSM +2.3%, PONY +2.2%, EOG +2%, CDNL +2%, UXIN +2% of note.
  • GapDown:  CNS -5.7%, NMG -4%, TGLS -3.3%, SND -2.9%, WTFC -2.4% of note.

Insider Action: LW (2nd day) 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: U.S. Races To Keep Lebanon From Derailing Ceasefire. (WSJ)
  • Bloomberg Lead:. Iran Keeps Hold Over Hormuz As Talks Take Place. (Bloomberg)
  • Markets Wrap: Stocks Pause for Talks This Weekend. (Bloomberg)
  • NY Times Lead Story: Vance Faces Test On His Negotiating Skills. (NYT)
  • USA Today:  Artemis II Returns From The Moon Today. (USA Today) 

Economic & Geopolitical:

  • Federal Reserve Speakers of note today: Daly – 1:05 p.m. EDT.
  • President Trump’s schedule for today:
    • Participates in Executive Time at 8:00 a.m. EDT.
    • Participates in Policy Meetings at 2:30 p.m. EDT and 3:30 p.m. EDT.
    • Heads to Charlottesville, VA for a MAGA Meeting and Dinner at 6:30 p.m. EDT and 7:15 p.m. EDT.
  • Economic Data Out –
    • Weekly –
      • Baker Hughes Rig Count is out at 1:00 p.m. EDT.
    • Monthly –
      • CPI for March is due out at 8:30 a.m. EDT and expected to rise to 0.7% from 0.3%.
      • Factory Orders for February are due out at 10:00 a.m. EDT and expected to rise to 0.5% from 0.1%.
      • University of Michigan Sentiment for April is expected to fall to 52 from 53.30.
      • The March Treasury Budget is expected to fall to $-307.50 billion from $-160 billion.

M&A Activity & Daily Changes: None of Note.

Moving Average Table: 100% from 93% of Equities are Positive, and 60% from 60% Bonds are Positive.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • GS Private Company Software & Internet Conf
    • Gabelli Waste & Environmental Services Symposium
    • Stifel Targeted Oncology Day
  • Top Analyst, Investor: REPL of note.
  • Shareholder Meetings: ASBP RAIL SBET of note.
  • Fireside Chat: None of note.
  • FDA Presentation: REPL PDUFA Decision for RP1 + Opdivo
  • R&D Day: None of note.
  • Meetings:
    • American Society of Cataract and Refractive Surgery Conf

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: MSGS NXST PARR  of note.
  • Downgrades None of note.