CAPIS Morning Note – 06/29/26: Stocks Start Holiday Shortened Week Higher

Overnight Summary and Early Morning Trading: The S&P 500 finished Friday lower by -0.05% at 7354.02 from Thursday lower by -0.01% at 7357.49. The S&P 500 sees support now at 7300 from 7400. Resistance is now at 7400 from 7500. In the last two months, support has moved from 6300 to 7300 S&P 500 hit its 25th […]

Overnight Summary and Early Morning Trading: 

  • The S&P 500 finished Friday lower by -0.05% at 7354.02 from Thursday lower by -0.01% at 7357.49.
  • The S&P 500 sees support now at 7300 from 7400. Resistance is now at 7400 from 7500. In the last two months, support has moved from 6300 to 7300
  • S&P 500 hit its 25th All-Time Closing High of 2026 on Tuesday, 6/2.
  • Bond Market is higher today on price with the 10-Year Yield at 4.374% from 4.378%.

Executive Summary:

  • Stocks were in a two-week winning streak, with the S&P 500 gaining 0.93% in the last week. That ended this past week.
  • U.S. moves into Week 19 of its attack on Iran. Is the deal really a deal and a conclusion to the war going to really happen this week or just another week of kicking the can down the road?
  • There have been four down -1% or more days in June so the potential for clustering rises, in other words more -1% days until month end.
  • 5 Day Losing Streak comes to an end?
  • Top 10 Decreases in Shares Short for NYSE and NASDAQ Stocks:

Key Geopolitical Events of Note:

  • Economic news of note.
  • Weekly –
    • None of note.
  • Monthly-
    • None of note.
  • Fed Speakers of Note today:  Barkin at 12:35 p.m. EDT
  • President Trump’s schedule:  
    • Executive Time at 8:00 a.m. EDT.
    • Participates in a policy meeting at 10:30 a.m. EDT.
    • Participates in a policy meeting at 12:30 p.m. EDT.
    • Participates in a policy meeting at 2:00 p.m. EDT.
    • Signs Executive Orders at 3:00 p.m. EDT.
    • Participates in a policy meeting at 4:00 p.m. EDT.
    • Participates in a policy meeting at 5:30 p.m. EDT.

Capital Raises of Note/Pricings:

  • IPO Filings & News: None of note.
  • Secondaries Filed Or Priced:
    • SYRE signs sales agreement for offering and sale of up to $500 million in 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.
  • Selling Shareholders:
    • ZSQR files for 100,000 share common stock offering by selling securityholder.
    • LAC files for 69,417,541 share common stock offering by selling shareholder.
  • Mixed Shelf Offerings:
    • EVTL files for $500 million mixed securities shelf offering.
    • SYRE files mixed securities shelf offering.
    • CCNE files mixed securities shelf offering.
    • AQST files for 230,271 share common stock offering by selling stockholders.

Notable Earnings Out After The Close: 

  • Beats:  None of note.
  • Misses: None of note.
  • Flat:  None of note.

Winners From After The Close:

  • CCXI (13.94 +35.28%), RGNX (10.02 +28.46%), RCUS (30.62 +25.94%), NEO (13.94 +25.2%),  TECH (71.06 +22.64%), MYGN (5.52 +21.59%), ALKS (54.2 +20.46%), RIGL (38.64 +17.41%), GRPN (22.72 +40.33%), RRGB (7.47 +19.25%), BB (11.27 +34.45%), MEI (18.52 +32.1%), GSHD (46.84 +27.01%), PRAA (18.77 +25.64%), EPC (27.48 +18.89%),

Losers From After The Close:  

  • CLF (9.92 -19.22%), BE (265.26 -19.35%), FLY (25.14 -18.77%), ON (91.70 -24.61%), HIMX (14.39 -20.54%), ORCL (149.48 -18.89%), STI (12.07 -30.83%), JEF (48.6 -21.75%).

After The Close:

  • Sovereign Rating affirmed for the U.S.
  • U.S. strikes Iran after President Trump accuses Tehran of ceasefire violation.
  • Nvidia (NVDA) ticking lower on report AWS is raising prices for Nvidia compute by 20%.
  • Gulfport Energy (GPOR) will replace Select Medical (SEM) effective prior to the opening of trading on Wednesday, July 1. Select Medical Holdings is being acquired in a deal expected to be completed soon.
  • Mobility Global (MBGL) will replace Core Labs (CLB) effective prior to the opening of trading on Thursday, July 2. S&P 500 constituent S&P Global (SPGI) is spinning off Mobility Global in a transaction expected to be completed July 1. Core Labs is no longer representative of the small-cap market space.
  • Tractor Supply (TSCO), Starlink, and 4-H, America’s largest youth development organization, announces an alliance aimed at expanding broadband access in rural communities while supporting the next generation of Beyond Ready rural leaders.
  •  VVX awarded a ceiling $500 mln US Air Force contract for contractor logistic support services for the Air Force C-12 aircraft fleet.
  • Anthropic moving toward deal with US govt to lift curbs on AI models. (Bloomberg)
  • Russell Index Changes:

Executive, Corporate Changes:

  • Lucille Sgaglione has informed co she will resign from her position from W.R. Berkley (WRB) as Executive Vice President of the Company, effective June 30. 

Dividend Calendar:

  • Top Names Ex-Dividend Monday: CM EQR VIV BEN TIMB INDB JOYY IMOS NOG
  • Top Names Ex-Dividend Tuesday: None of note.

What Happening This Morning:

Futures S&P 500 +60, NASDAQ 100 +338, Dow Jones +221. Europe is lower ex FTSE while Asia is higher ex Japan. Bond yield is at 4.37% from 4.37% on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas lower. Gold, Silver and Copper lower. The U.S. Dollar is lower versus the Euro, lower against the Pound and lower against the Yen. Bitcoin is at $59,765 from $61,247.

Sector Action:

  • Daily Healthcare, Consumer Cyclical, Real Estate, Consumer Defensive and Utilities were higher.
  • Daily Industrials, Technology, Energy and Materials were lower.
  • One Month Winners: Technology, Communication Services, Consumer Defensive, Healthcare and Real Estate 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: None.

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 none.
  • Negative or Mixed Guidance: After The Close & This Morning – None of note.

Advance/Decline Daily Update: Market Breadth remains in good shape

Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%): 

  • Gap Up:  CMCSA +24.0%, QH +16.5%, VRDN +12.5%, CCXI +11.2%, CHTR +9.2%, CAAP +9.2%, CLB +8.9%, DQ +8.5%, BOT +7.5%, PKX +6.8%, SLVM +6.5%, ZGN +6.4%, CWT +5.9%, LWLG +5.6%, HELE +5.0%, CMSA +5.0%, BLFS +4.5%, AXON +3.7%, VLGEA +3.3%, MNSO +3.2%, GPOR +2.8%, CMBT +2.8%, SHG +2.8%, CUBE +2.8%, BIDU +2.7%, WDC +2.6%, CBL +2.5%, STX +2.1%, LLY +2.1%of note
  • Gap Down: BLD -8.4%, BRSL -7.6%, SKE -7.1%,FUBO -6.2%, MATX -6.1%, PB -5.8%, UTL -5.2%, PS -5.1%, JOYY -4.8%, KARO -4.7%, OTF -4.3%, CEPU -4.0%, BVC -3.4%, TDW -3.3%, SAM -3.3%, TBPH -3.0%, PEB -2.9%, STNE -2.9%, ILPT -2.9%, KOF -2.8%, TAC -2.7%, AMRZ -2.3%, REX -2.2%, MNPR -2.0%, JAN -2.0%

Insider Action: None 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.

Other Trading Action: None of note.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific. Bolded source means paywall.

  • Will return tomorrow.

Economic & Geopolitical:

  • Federal Reserve Speakers of note today:
    • Richmond Federal Reserve President Thomas Barkin speaks at 12:35 p.m. EDT.
  • President Trump’s schedule for today:
    • Executive Time at 8:00 a.m. EDT.
    • Participates in a policy meeting at 10:30 a.m. EDT.
    • Participates in a policy meeting at 12:30 p.m. EDT.
    • Participates in a policy meeting at 2:00 p.m. EDT.
    • Signs Executive Orders at 3:00 p.m. EDT.
    • Participates in a policy meeting at 4:00 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

M&A Activity & Daily: None of note.

Moving Average Table: 66% from 88% of Equities are Positive, and 64% from 24% Bonds are Positive.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • Goldman Sachs Securities Investor Conference
    • Goldman Sachs Global Copper Week
  • Top Analyst, Investor: ARQT LNTH PHIO UNCY of note.
  • Shareholder Meetings: SNOW, TRIP of note.
  • Fireside Chat: None of note.
  • FDA Presentation: None of note.
  • R&D Day: None of note.
  • Meetings:
    • International Congress of Children’s Bone Health

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: CYTK DK FCEL PLTR PRME RBLX WBD of note.

Downgrades: ALKS MPH BHVN CNMD DH DOCS PGR of note.

Initiations:

      • Buys: None of note.
      • Sells: None of note.