It’s Prime Day at Amazon (AMZN)! Make sure to buy something today to help out the retailer.

Market Tone: Stocks rebounded nicely last week and continue higher this morning. Earnings season has kicked off this morning and it was a strong start.

Covid-19 Update With Latest Data From Monday 

Total Cases 7,770,673 from 7,727,630

Recovered: 3,106,728 from 3,075,077

Deaths 206,881 from 206,597

Tests 1,003,578 from 943,645

Daily Deaths 663 from 986

Current Hospitalizations 35,056 from 34,028

source COVID tracking project

Capital Raises

IPOs Priced: None of note.

Secondaries Priced:  None of note.

Notes Priced of note: None of note.

Common Stock filings: None of note.

Selling Shareholders of note: 

Mixed Shelf Offerings:  None of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

None of note.

Misses:

None of note.

News After The Close:

Walt Disney (DIS) to reorganize its media and entertainment businesses.

Exelon (EXC) may separate its non-utility assets.

Johnson & Johnson (JNJ) accused in lawsuit of misleading investors of Auris Health in merger agreement.

Johnson & Johnson (JNJ) stops trial of Covid-19 vaccine as patient has negative reaction, no details.

President Trump’s doctor notes that the president has had two negative days in a row of Covid-19 tests.

Dividend Increase: WSM AOS 

Dividend Suspended: 

Reinstates Or Initiates Buybacks: 

Guides Higher: ETH

Hourly Action – Yesterday saw weakness in the first 30 minutes and the last hour. Updated 10/12.

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

S&P 500 -5  Dow Jones Industrial Average -90 NASDAQ +80 Russell 2000 -8. Fair values are lower.  Asia higher and Europe lower. Current VIX is at 25.07 from 25. 3 month VIX Future is at 27.98 from 28.28.

Gold, silver and copper lower. WTI Crude Oil 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 $138.92 from $138.83 with yields at from 0.779%.

Positive Sectors On Monday: Technology, Communication Services and Consumer Cyclical of note.

Negative Sectors On Monday:  Materials and Energy of note. 

One Month Winners: Utilities, Real Estate, Industrials and Materials of note.

Three Month Winners: Industrials, Consumer Cyclicals, Technology and Real Estate of note.

Six Month Winners: Consumer Cyclical, Technology, Materials and Industrials of note.

Twelve Month Winners: Technology, Consumer Cyclical and Healthcare of note.

Year to Date: Consumer Cyclical, Technology, Communication Services, Healthcare and Materials of note.

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

Today After The Close: None of note.

Wednesday Morning:  UNH BAC WFC GS USB PGR PNC of note.

Gap Up: 

ETH +12%, IVA +11%, DIS +5%, EXC +5%, BLK +5%, MRUS +4%   of note.

Gap Down:

VYGR -11.8%, RCL -5.5% of note.

Earnings This Morning Of Note

Beat:

BLK +1.46, JPM +0.68, FRC +0.23, JNJ +0.22, EDU +0.10 of note.

Missed:

DAL (-0.39) of note.

Still To Report: AZZ FAST

Erlanger Research Advance/Decline Line Chart –  Updated 10/12 Close. Despite the move yesterday in the S&P 500 and NASDAQ 100 the A/D line was rather mixed. 

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

Stocks Making The Biggest Moves –  AAPL AZN LEVI TWLO (CNBC)

5 Things To Know Before The Market Opens Today. (CNBC)

Democratic Presidential Candidate Joe Biden notes that he is not in favor of expanding seats on the Supreme Court. (The Washington Post)

European Union to put tariffs on U.S. imports amid dispute with Boeing (BA). (Reuters)

Stock Index Trading

Current through 10/12 close. All indexes remains  positive.

Bold means a change from prior day.

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. Updated through 10/12 close. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial. The correction cannot end until the EVL Range becomes normal again, i.e. no blue highlighting. Yesterday was the first day in 26 sessions where all indexes were below their historical range.

Economic

September CPI is due out at 8:30 a.m. EDT and is expected to fall to 0.2% from 0.4%. Came in at 0.2%.

The latest U.S. Treasury budget is due out at 2:00 p.m. EDT.

Weekly API Petroleum Institute Data is due out at 4:30 p.m. EDT.

Geopolitical & Related

President Trump heads to Johnstown, PA to hold a Make America Great Again (MAGA) rally at 7:00 p.m. EDT.

Senate Judiciary Committee Hearings on Supreme Court Nominee Amy Coney Barret continues today with questioning starting at 9:00 a.m. EDT.

Investor Meetings & Conferences

LMPX (Conference Call) SRNE (R&D Day) WORK (Fireside Chat) EXK (Video Update) GWRE REGI  (Analyst Day) AAPL (Special Event) ATOS (Webinar)

Sellside Conferences:

Industry Conferences: Annual Child Neurology Society & 16th  International Child Neurology Society Congress Meeting (10/12-10/23) UBS Financials Conference (10/13) Cowen Annual Therapeutics Conference (10/13-10/14)

M&A

HealthStream (HSTM) has bought ShiftWizard for $32 million in cash.

Upgrades & Downgrades For Tuesday – 10/13