CAPIS Morning Note – 10/09/26: Can The S&P 500 Turn The Week Positive As Now Down -0.11% For Week

Overnight Summary and Early Morning Trading: The S&P 500 finished Thursday lower by -0.47% at 7765.36 from Wednesday lower by -0.22% at 7801.77. The S&P 500 sees support now at 7700 from 7800. Resistance is now at 7800 from 7700. In the last five months, support has moved from 6300 to 7800. The QQQ (Nasdaq-100 Index […]

Overnight Summary and Early Morning Trading:

  • The S&P 500 finished Thursday lower by -0.47% at 7765.36 from Wednesday lower by -0.22% at 7801.77.
  • The S&P 500 sees support now at 7700 from 7800. Resistance is now at 7800 from 7700. In the last five months, support has moved from 6300 to 7800.
  • The QQQ (Nasdaq-100 Index ETF) sees support now at 740 from 750. Resistance is now at 750 from 760 as the QQQ closed higher at 747.58.
  • Bond Market is higher today on price with the 10-Year Yield at 5.269% from 5.269%.

Executive Summary:

  • Stocks move into a one-week losing streak with the S&P 500 falling -0.22% in the last week, ended 10/2.
  • U.S. moves into Week 33 of its attack on Iran, seven months.
  • The S&P 500 is now on a 2-day losing streak. 

Key Geopolitical Events of Note

  • Economic news of note.
    • Weekly –  Baker Hughes Rig Count of note.
    • Monthly- University of Michigan Consumer Sentiment of note.
  • President Trump’s schedule: (No update as of 7:00 a.m. EDT)
    • 8:00 AM: Executive Time (The White House · Closed Press)
  • Fed and Other Speakers of Note:
    • Collins (4:00 p.m. EDT) of note.

Capital Raises Announced After The Close:

  • IPO Filings & News:
  • Secondaries Filed Or Priced:
    • CRGY – Pricing of Public Offering of Class A Common Stock
    • IMCC: FORM F-3 – Up to 2,799,276 Common Shares
    • RENX: Form S-3.. 24,276,696 Shares of Common Stock
  • Notes Filed Or Priced:
    • FUL – Pricing of $850 Million Debt Offering
    • IIPR – Prices Public Offering of 9.25% Series B Cumulative Redeemable Preferred Stock
  • Convertible Offerings Filed or Priced:
  • Private Placement:
  • Direct Offering: None of note.
  • Selling Shareholders:
  • Mixed Shelf Offerings:

After The Close:

    • Earnings After The Close:
      • Beat: None of note.
      • Missed: None of note.
    • Dividend Ex Update:
      • Friday: INTU: $1.38 | TIGO: $0.75 | ELPQF: $0.07 | MAIN: $0.27 | GPAGF: $0.08 |
        TWODF: $0.02 | TTALF: $0.38 | ARBFF: $0.25
    • News Of Note:
      • Braemar (BHR) to sell Four Seasons Resort Scottsdale for $372 mln as part of Ashford separation.
      • SpaceX (SPCX)  to acquire low-band spectrum license portfolio up to 14 megahertz of paired spectrum in the 800 MHz band.
      • Humana (HUM) surging higher in after-hours trading after CMS releases its Medicare Advantage and Part D Star Ratings; Alignment Health (ALHC) diving lower following release. 
      • American Express (AXP) pays $350 million fine to resolve regulatory reviews.
      • Raytheon (RTX) wins up to $6.3 bln SM-3 IB interceptor production, sustainment contract.
    • Movers After The Close
      • Pops: HUM+13.1%, KOPN+4.8%, SPCX +2.6%. 
      • Drops:  CVS -2.9%,  BHR -2.0%.
    • Buybacks
      • CALX boosts stock repurchase authorization by $100 mln.
      • BTDR authorizes new $100 mln share repurchase program – 6-K filing.
      • TD receives regulatory approval for new share buyback program.
    • Executive Changes:
      • FOSL adds Sebastian DiGrande, Chandhu Nair to board; Wendy Schoppert elected chair.
      • MFA outlines 2027 CEO succession; Bryan Wulfsohn to become CEO, Andrew Kail to join as CIO. 
      • OGE names John Laws COO effective Jan. 4, 2027 – 8-K filing.
      • BY names Sean McGuire chief commercial banking officer, Scott Hawthorne chief credit officer in succession plan

What’s Happening This Morning:

Futures S&P 500 +23.50, NASDAQ +212 and Dow Jones +11. Europe is higher and Asia is higher ex Japan. Bond yield is at 5.257% from 5.35% on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas lower. Gold, Silver and  Copper higher. The U.S. Dollar is higher versus the Euro, lower against the Pound while higher against the Yen. Bitcoin is at $82,474 from $82.559.

Sector Action: 12 sectors higher and 6 lower.

  • One-Month Winners: Energy and Communication Services of note.
  • Three-Month Winners: Energy, Healthcare and Financials of note.
  • Six-Month Winners: Technology, Financials, Healthcare and Energy of note.
  • Twelve-Month Winners: Energy, Technology, Materials, Industrials, Financials and Communication Services of note.
  • Year-to-Date Winners: Energy, Technology, Materials, Industrials, Financials and Healthcare of note.

Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)

  • Friday After the Close:
  • Monday Before the Open:

 

Insider Activity: 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.

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: None of note
  • Mixed –None of note.
  • Negative or Mixed Guidance: None of note.

Advance/Decline Line Chart: New low hit yesterday.

Economic & Geopolitical

  • Federal Reserve Speakers of note today:
    • Federal Reserve Boston President Susan Collins to speak at 4:00 p.m. EDT.
  • President Trump’s Schedule: 
    • 8:00 AM: Executive Time (The White House · Closed Press) (No update as of 7:00 a.m. EDT)
  • Economic Data Out –
    • Weekly
      • Crude Oil Inventories are due out at 10:30 a.m. EDT.
    • Monthly
      • Latest FOMC Minutes are due out at 2:00 p.m. EDT.

M&A Activity & Daily:

Pre-Market Changes:

  • Higher: PROF +17.1%,
  • Lower: ARGX -14.2%,

Moving Averages Summary: Stocks are at 60% from 83% above their respective moving averages and Bonds are at 20% from 16%.

Rags & Mags:

    • Iran and Houthis Try to Regain Upper Hand in Hormuz with New Attacks. (WSJ)
    • Highest Mortgage Rates in Three Years, Chills Housing Market. (NYT)
    • OpenAI now Expects Revenues of $70 Billion By End of 2026. (Bloomberg)
    • Wall Street Sees Ominous Sign in Bond Market’s Latest Selloff. (Bloomberg)
    • Delta (DAL) misses on revenues and earnings but margins hang in there.

Meeting & Conferences of Note:

  • Sellside Conferences:
    • BMO Canadian High Yield Dinner & Conference
    • Canaccord Pharma Commercialization & Marketing Conference
    • Guggenheim Liquid Biopsy Day – MCED
    • H.C. Wainwright Artificial Intelligence Based Drug Discovery & Development Conference
    • Jefferies Private MedTech Summit
    • TD Cowen Nuclear Roundtable
  • Shareholder Meetings: GETY TELA of note.
  • Top Analyst, Investor: AVO ENPH JLL ZETA of note.
  • Fireside Chat: None of note.
  • FDA Presentation: None of note.
  • R&D Day: None of note.
  • Meetings:
    • American College of Rheumatology Meeting
    • North American Cystic Fibrosis Conference

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: BAH CHYM PLTR PRG R RCL TREX WFC of note.
Downgrades: OLED XRX  of note.