Today is the 25th Anniversary of 9/11. God Bless the United States of America.
Overnight Summary and Erly Morning Trading:
- The S&P 500 finished Thursday lower by -0.58% at 7591.70 from Wednesday lower by -0.48% at 7636.36.
- The S&P 500 sees support now at 7500 from 7600. Resistance is now at 7600 from 7700. In the last five months, support has moved from 6300 to 7500.
- The QQQ (Nasdaq-100 Index ETF) sees support now at 700 from 710. Resistance is now at 710 from 720 as the QQQ closed lower at 708.69
- Bond Market is lower today on price with the 10-Year Yield at 4.94% from 4.848%.
Executive Summary:
- Stocks move into a two-week winning streak with the S&P 500 rising 0.09% in the last week, ended 9/04.
- U.S. moves into Week 29 of its attack on Iran, six months. Iran is attacking U.S. assets in the Gulf.
- The S&P 500 is now on a 4-day losing streak.
Key Geopolitical Events of Note
- Economic news of note.
- Weekly – Baker Hughes Rig Count of note.
- Monthly-
- August CPI is due out at 8:30 a.m. EDT and expected to rise to 0.40% from 0.10%.
- September Univ. of Michigan Consumer Sentiment (prelim) is due out at 10:00 a.m. EDT and expected to rise to 52 from 51.70.
- President Trump’s schedule:
- Participates in 9/11 Observance Ceremony at 9:00 a.m. EDT.
- Participates in Wreath Laying Ceremony at 10:25 a.m. EDT.
- Participates in Signing Time at 2:30 p.m. EDT.
- Participates in a Policy Meeting at 3:00 p.m. EDT.
- Heads to Ireland for weekend.
- Fed and Other Speakers of Note:
- Federal Reserve Speakers are in blackout through September 15th.
Capital Raises of Note/Pricings:
- IPO Filings & News: due out this week: None of note.
- Secondaries Filed Or Priced:
- PMTS files secondary offerig of2,340,000 shares.
- TH closes 16.10 million share secondary offering.
- 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:
- PSQL also files for 286,674,886 ordinary share offering by selling securityholders.
- MPLT files for 13,181,055 share common stock offering by selling shareholder.
- Mixed Shelf Offerings:
- KROS files mixed securities shelf offering of $350 million.
AFTER THE CLOSE:
- Earnings After The Close:
- Beats: RH+2.32, ORCL +0.18, ADBE +0.05, DSGX +0.02, REF +0.02 of note.
- Misses: CPRT -0.03, ZUMZ -0.03 of note.
- Flat: None of note.
- Movers After The Close
- Positive Movers: RH +6.90%, ORCL +4.7%, DSGX +2.4%, CELH +2.1%.
- Negative Movers: ADBE -2.30%, NAVN -14.9%, AEO -9.5%, LMNR -5%, WLTH -3.7%.
- News After The Close
- Robinhood (HOOD) posts August operating data.
- Bath & Body Works (BBWI) gets Barrington Capital to take a stake in them.
- Microsoft (MSFT) to reach 38 GW of data center capacity by 2032.
- Executive Changes of Note:
- TMDX Names Fernando Araujo CFO as of 9/21/26.
- Dividends Going Ex
- Dividends Going Ex on Friday: ADP: $1.70 | THG: $0.95 | WMB: $0.53 | PDI: $0.22 | FHN: $0.17 | JHS: $0.15 | NOV: $0.09
- Dividends Going Ex on Monday: UNH: $2.32 | TROW: $1.30 | MO: $1.11 | CCI: $1.06 | MRK: $0.85 | EMN: $0.84 | JJSF: $0.80 | ECL: $0.73 | GATX: $0.66 | CTBI: $0.65 | PB: $0.60 | STC: $0.55 | NXRT: $0.53 | ARCC: $0.48 | MTH: $0.48 | TMO: $0.47 | LDOS: $0.43 | RNR: $0.41 | IBP: $0.39 | UGI: $0.38 | SCI: $0.36 | AME: $0.34 | UCB: $0.26 | BYD: $0.20 | M: $0.19 | SBCF: $0.19 | TECK: $0.13 | GPK: $0.11 | GIII: $0.10 | HUN: $0.09 | NX: $0.08 | PSKY: $0.05 | TDS: $0.04
- Buybacks of Note:
- TH repurchase authorization of 1.69 million.
- VIK authorizes $1 billion share repurchase program.
- CW ups repurchase to $700 million, adds $100 million to 2026 buyback plan.
What Happening This Morning:
Futures S&P 500 +43, NASDAQ 100 +182 and Dow Jones +305. Europe is higher and Asia is lower as well. Bond yield is at 4.94% from 4.865% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas lower. Gold, Silver and Copper are lower. The U.S. Dollar is higher versus the Euro, higher against the Pound and lower against the Yen. Bitcoin is at $76,979 from $77,995.
Sector Action:
- One-Month Winners: Technology, Communication Services, 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, B, Consumer Defensive, Utilities and Industrials of note.
Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Friday After the Close: None of note.
- Monday Before The Open: None of note.
Insider Activity: None see Insider Buying with dumb short selling. None sees Insider Buying with smart short sellers. Above $100,000 in purchases with high shorts but no history: None of note.
Notable Earnings of Note This Morning:
- Beat: KR +0.03 of note.
- Missed: None of note.
- Flat: None of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: None of note
- Mixed –None of note.
- Negative or Mixed Guidance: None of note.
Advance/Decline Line Chart:
Economic & Geopolitical
- Federal Reserve Speakers of note today:
- Federal Reserve Speakers are in blackout through September 15th.
- President Trump’s schedule for today:
- Participates in 9/11 Observance Ceremony at 9:00 a.m. EDT.
- Participates in Wreath Laying Ceremony at 10:25 a.m. EDT.
- Participates in Signing Time at 2:30 p.m. EDT.
- Participates in a Policy Meeting at 3:00 p.m. EDT.
- Heads to Ireland for weekend.
- Economic Data Out –
- Weekly – Baker Hughes Rig Count of note.
- Monthly-
- August CPI is due out at 8:30 a.m. EDT and expected to rise to 0.40% from 0.10%.
- September Univ. of Michigan Consumer Sentiment (prelim) is due out at 10:00 a.m. EDT and expected to rise to 52 from 51.70.
M&A Activity & Daily: None of note.
Pre-Market Changes:
- Higher: CPRT +7.28% | ORCL +7.00% | NRG +4.88% | ROL +4.75% | VRSK +2.87% | AMT +2.80% | ENB +2.80% | RSG +2.67% | COF +2.65% | FISV +2.17%
- Lower: GRMN -3.02% | ADBE -2.99% | HST -1.90% | CI -1.85% | TEL -1.56% | APA -1.30% | BALL -1.27% | PWR -1.26% | BIIB -1.22% | FDS -1.15%
Moving Averages Summary: Stocks are at 23% from 37% above their respective moving averages and Bonds at 0% unchanged.
Rags & Mags:
- Trump says no regrets about starting the Iran War. (CNBC)
- Diesel hits $6. (CNBC)
- Treasury Secretary Bessent says “large bank” to be sanctioned for working with Iran. (CNBC)
- Congress is Suddenly Waking Up to the AI Doomsday Treat. (WSJ).
- Bond Selloff Puts 10-Year Yield on Cusp of 5%.
- September 11 and the Persistence of Memory. (NYT)
- Bridgewater’s Jensen Says AI Will Kill People Before It’s Curbed. (Bloomberg)
Meeting & Conferences of Note:
- Sellside Conferences: None of note.
- Top Analyst, Investor: None of note.
- Shareholder Meetings: None 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: ESI IP of note.
Downgrades: AON SMR TENB of note.