CAPIS Morning Note -1/7/20 S&P 500 Futures Slipping Into The Red
IPOs on deck: None of note. IPOs Filed: None of note after the close. Secondaries Priced: ARE of note. Notes Priced: None of note. Common Stock filings: ITCI ARE EMKR RNR MIRM ECOL of note. Mixed Shelf Offerings: None of note. Convertible Offering Files: MDC of note. Senior Notes Filed: None of note. Courtesy of IPO Financial…
IPOs on deck: None of note.
IPOs Filed: None of note after the close.
Secondaries Priced: ARE of note.
Notes Priced: None of note.
Common Stock filings: ITCI ARE EMKR RNR MIRM ECOL of note.
Mixed Shelf Offerings: None of note.
Convertible Offering Files: MDC of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note.
Hourly Action This Week: Updated 1/3
News After The Close (In Order of Time)
Parsons (PSN) wins role in $427 million Air Force contract.
Microchip (MCHP) raises Q3 revenue guidance.
Rhythm Pharmaceuticals (RYTM) CEO Keith Gottesdiener to leave.
American Airlines (AAL) reaches settlement with Boeing (BA) over nondelivery of 737 Max.
Index Changes: PC Connection (CNCN) and Dorian LPG (LPG) to join S&P SmallCap 600.
Stock Repurchase Announcements: None of note.
Dividend Increase: None of note.
Gap Higher: XERS +20%, HIMX +13%, CNXN +10%, LPG +6%, MCHP +4%.
Gap Lower: ITCI-4%.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -2 Dow Jones Industrial Average -19 NASDAQ +5 Russell 2000 -0.71. Fair values are higher. Asia and Europe mostly higher.
Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.36 from $129.39 with yields at 1,80% from 1.792%. Prices as of 8:30 a.m. EDT.
Positive Sectors On Monday: Materials, Energy, Conglomerates and Technology of note.
Negative Sectors On Monday: Financials 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:
None of note.
Wednesday Before The Open:
Earnings This Morning Of Note
ANGO (+.04) of note.
None of note.
Still to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story:
Stocks making the biggest news. (CNBC)
Iran considers up to 13 scenarios to respond to U.S. actions. (Bloomberg)
Secretary of Defense Esper comments that troops not leaving Iraq and instead more will be going there. (Bloomberg)
U.S. Geological Service reports 6.4 magnitude earthquake in Puerto Rico.
U.S. and France set a 15 day deadline to avert Internet Tax. (Bloomberg)
Homeland Security warns of Iran attacking U.S. through a cyber attack. (Tech Crunch)
Google (GOOGL) seeks Supreme Court to overrule the Oracle (ORCL) copyright decision. (Bloomberg)
Pier One (PIR) to close half of its 450 stores and may have to declare Chapter 11. (CNBC)
Stock Index Tracking
All stock indexes remain strong but the 5 day moving averages have failed. Current through 1/5.
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 1/5. In 2019, the 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 9.88%.
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 1/3. Notice the strength.
Economic & Related:
November Trade Balance is due out at 8:30 a.m. EDT and expected to improve to $-43.5 billion from $-47.2 billion.
November Factory Orders are due out at 10:00 a.m. EDT and are expected to rise to 1,340,000 from 1,314,000.
December ISM Non-Manufacturing is due out at 10:00 a.m. EDT and is expected to rise to 54.3 from 53.9.
$38 billion of 3 Year Treasury Note Auction.
President Trump will meet today with the President of Greece from 2:00 p.m. onward.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: CPIX NVEE LACQ ZVO ( Conference Call)
Sellside Conferences: None of note. Morgan Stanley China New Economy Summit (1/6-1/8). Citi Global TMT West Conference (1/7-1/8). RBC Ca[ital Markets Canadian Bank CEO Conference (1/7) Keybanc Self Storage Investor Forum (1/7-1/8). JP Morgan Annual Tech/Auto Forum as CES (1/7)
Industry Conferences: Consumer Electronic Show (CES) (1/7-1/10)
ADT Corp (ADT) buys Defenders for $381 million.