Overnight Summary – Markets are up globally as the rally continues as enters day 5 in the U.S.
Breaking News – September Housing Starts came in light. Failed to move futures. Still very strong.
Earnings Out After The Close
Beats: ZION +0.09, STLD +0.07, FNB +0.05, HXL +0.05, ELS +0.02
IPOs Priced or News:
New SPACs launched: Horizon Acquisition Corporation (HZAC) merges with Vivid Seats and will trade as SEAT.
Secondaries Priced: None of note.
Notes Priced of note: CCNE of note.
Common Stock filings: DLO of note.
Pricing of Over-Allotment: UPH
Direct Offering: OPGN
Selling Shareholders of note: TASK VNOM of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: None of note.
Convertible Offering & Notes Filed: None of note.
Note Offerings Filed: None of note.
Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
News After The Close:
Rent The Runway looks to go public at $1.5 billion valuation.
SEC Mem Stock Report out. (Bloomberg)
U.S. Democrats to scale back Treasury’s IRS bank reporting plan amid GOP uproar (Washington Post)
Tupperware (TUP) sells its House of Fuller beauty business in Mexico, no terms.
Index Changes KRG to S&P 400 with HRMY TREE to S&P 600 before open on Friday.
Health Canada seeks to use the Pfizer (PFE) and BioNTech (BNTX) Covid-19 vaccine in children aged 5 to 11.
After Hours: + ETTX +23% HRMY +13% TREE +4% and – DLO -8% TASK -7% EVER -6%.
Dividend Announcements: Increases:
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +20 Dow Jones Industrial Average +155 NASDAQ +57 Russell 2000 +12 . Fair values are mixed. Asia higher and Europe mixed. VIX is at 19.55 from 20.28 in futures from yesterday. Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $130.70 from $130.66 yesterday with yields at 1.602% no change from yesterday morning. Bitcoin at $62,244 from $60,880 up $918 or +1.50% in morning trading.
Monday’s Action – 10/18 Close.
Positive Sectors Monday: Consumer Cyclical, Technology, Communication Services of note.
Negative Sectors Monday: Utilities, Healthcare and Consumer Defensive of note.
One Month Winners: Energy, Financials and Materials of note.
Three Month Winners: Energy, Financials and Materials of note.
Six Month Winners: Energy, Technology and Communication Services of note.
Twelve Month Winners: Energy, Financials and Communication Services of note.
Year to Date: Energy, Communication Services and Financials of note.
Stocks were higher especially Tech, Bonds were up, Natural Gas off by 7%. Updated 10/18 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: NFLX, ISRG, CNI, IBKR, OMC, UAL, WTFC, ZWS, HWC, WDFC, UCBI, FULT, LRN, NBHC, MRTN of note.
Wednesday Before the Open: ASML, VZ, ABT, NEE, ANTM, CP, BIIB, NDAQ, BKR, NTRS, CFG, MTB, MKTX, CMA, WSO, LAD, FHN, KNX, BPOP, BOKF, MSM, FCFS, FBC, WGO, HCSG of note.
Earnings of Note This Morning:
Beats: TRV +0.62, JNJ +0.25, ERIC +0.22, SBNY +0.22, SYF +0.21, SI +0.17, SNV +0.15, PACW +0.14, DOV +0.13, CBSH +0.07, FITB +0.07, BK +0.04, MAN +0.04, PM +0.02, PG +0.02, IRDM +0.01
Flat: HAL +0.00
Still to Report: FMBI, KSU, ONB
Erlanger Research Advance/Decline Chart –Updated through 10/18 close.
Gap Ups & Down In Early Pre-Market:
Gap up: ETTX +22%, HRMY +12%, UAVS +12%, WVE +8%, BTG +4%, ACMR +3%, FNB +3%
Gap Down: PACW -7%, DLO -6%, TASK -6%, EVER -5%, KRG -4%
Insider Action: None of note today. No stocks sees Insider buying with dumb short selling and no smart short sellers with insider buys this morning. 10/19
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Stocks Making The Biggest Moving – PG TRV JNJ. (CNBC)
Five Things To Know To Start Your Day. (CNBC)
Treasury Secretary Yellen noted that government will operate through 12/3 until next debt ceiling hit. (WSJ)
FDA will soon approve mixing and matching of vaccines. (NYT)
Judge orders details of collusion between Facebook (FB) and Google (GOOGL) to be released. (NY Post)
Bitcoin ETF will debut today. (Bloomberg)
Robinhood looks at first Bitcoin linked ETF. Roblox (RBLX) needs adults plus a kid’s safe metaverse.
Moving Average Update
Score at 100% unchanged. Updated 10/18 close.
The President receives the President’s Daily Brief, 9:30 a.m. EDT
Press Briefing by Press Secretary Jen Psaki, 1:00 p.m. EDT
The President, The Vice President, and the Secretary of the Treasury meet with House progressives to discuss his legislative agenda, Oval Office, Closed Press, 2:00 p.m. EDT
The President, The Vice President, and the Secretary of the Treasury meet with a bicameral group of moderates to discuss his legislative agenda, Oval Office, Closed Press, 4:30 p.m. EDT
Federal Reserve San Francisco President Mary Daly speaks at 8:00 a.m. EDT and 11:00 a.m. EDT
Federal Reserve Philadelphia President Patrick Harker speaks at 8:50 a.m. EDT.
Federal Reserve Atlanta President Raphael Bostic speaks at 1:00 p.m. EDT.
Federal Reserve Governor Michelle Bowman speaks at 1:15 p.m. EDT.
Federal Reserve Governor Waller speaks at 5:00 p.m. EDT.
September Housing Index is due out at 8:30 a.m. EDT and expected to rise to 1,620,000 from 1,615,000.
Weekly API Petroleum Institute Data is due out at 4:30 p.m. EDT.
Meeting & Conferences of Note:
Sellside Conferences: JP Morgan Annual Media and Communications Industry Panel Forum 2021 (10/18-19) Baird Commerce Technology Summit (10/19) Jefferies Therapeutics Summit (10/19)
Company Meetings: ULTA APO (Investor/Analyst Day) CSLLY (R&D Day) PRLB GOOGL (Corporate Event) BBIO SRTS (Fireside Chat)
Conferences of Note: World Vaccine Congress (10/19-21) Food & Nutrition Conference 2021 (10/16-19) Bloomberg London Summit (10/18-19)
Upgrades & Downgrades: