IPOs on deck:  None of note.

IPOs Filed: None filed after the close.

Secondaries Priced:  None of note.

Notes Priced: None of note.

Common Stock filings: CPTA UUUU BSGM of note.

Mixed Shelf Offerings: NVAX  of note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

None  of note.

Missed:

None of note.

Hourly Action This Week: Updated 12/31

News After The Close (In Order of Time)

Tiffany & Co. (TIF) to hold special meeting February 4th to vote on merger with LVMH, deal expected to close mid 2020.

Lockheed Martin (LMT) wins $1.9 billion Navy contract.

President Trump threatened Iran after Iraqi embassy attack, he is unlikely to get further involved in Iraq and Iran. 

Stock Repurchase Announcements: None of note.

Dividend Increase: None of note.

Gap Higher:   WY +5%, DB +5%, TTM +5%, SINA +4%

Gap Lower: ONCY -5%

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 +16 Dow Jones Industrial Average +164 NASDAQ +57 Russell 2000 +0.55. Fair values are lower helping the open. Asia mixed and Europe higher.

Gold, silver and copper higher. WTI Crude Oil lower  and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $128.44 from $128.48 with yields at 1.91% from 1.88%. Prices as of 8:30 a.m. EDT.

Positive Sectors On Tuesday: Conglomerates, Materials, Energy and Utilities of note.

Negative Sectors On Tuesday: None of note.

One Month Winners: Healthcare, Materials, Energy, Consumer Goods and Technology.

Three Month Winners: Healthcare, Consumer Goods and Technology.

Six Month Winners: Consumer Goods, Healthcare, Technology and Financials.

Twelve Month Winners: Technology, Industrials and Services.

Year to Date: Consumer Goods, Technology, Industrials, Technology, Services and Financials.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close:  

LNDC RECN of note.

Friday Before The Open:

LW of note.

Earnings This Morning Of Note

Beat:

None of note.

Missed:   

None of note.

Still to Report:

Rags & Mags: Highlighted Stories may be clicked through to the original story.

Top News Story: People Bank of China (PBOC) cut the reserve requirement overnight. (Bloomberg)

Stocks making the biggest move this morning. (CNBC)

People Bank of China (PBOC) cut the reserve requirement overnight. (Bloomberg)

North Korea tired of waiting for President Trump and reverses progress. (Bloomberg)

Drug prices raised on 50 drugs. Watch for backlash from Washington D.C. on move.  (NY Post)

Eurozone PMI for December was out at 3:00 a.m. EDT and came in at 45.9 a new low. (MarketWatch)

Stock Index Tracking

All  stock indexes remain strong but the 5 day moving averages have failed. Current through 12/31.

Bold means a change from prior day.

The advance/decline line model is now a buy though it is struggling with the recent action. Updated through 12/31. Year to date model up 16.48% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 7.75%.

YTD 65% (+1% change week over week) of stocks are higher and 35% are lower. Updated  through 12/27 close.

Courtesy of Phil Erlanger Research, Inc.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Update through 12/31. Notice the strength.

Economic & Related:

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

Geopolitical:      

President Trump will remain on vacation with no scheduled events.

Conferences & Analyst Meetings: 

Investor/Analyst Days & Conference Calls of Note:  None of note.

Sellside Conferences: None of note.

Industry Conferences: None of note.

M&A Activity

Upgrades & Downgrades