This is an abbreviated note due to an internet outage. We will return to normal output on Monday. Have a great weekend.
Market Tone: Yes we are done with the presidential debates and now it is 11 days to the election. Stimulus is fading by the minute until after the election. Expect volatile action through the week of November 6th.
Earnings After The Close:
SIVB +3.23, COF +2.97, SAM +1.79, HTH +1.17, ABCB +0.80, MAT +0.57, BJRI +0.45, WAL +0.32, EHTH +0.26, OZK +0.25, BOOM +0.18, VRSN +0.14, MANH +0.12, NXGN +0.10, RHI +0.08, EIG +0.07, PBCT +0.05, FFIN +0.05, FFBC +0.04, STX +0.03, VICR +0.03, ASB +0.01 of note.
Flat: INTC +0.00
CLGX (0.15), LLNW (0.03) of note.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +11 Dow Jones Industrial Average +86 NASDAQ +35 Russell 2000 +17.25 . Fair values are lower. Asia mixed and Europe higher. Current VIX is at 28.11 from 28.65. 3 month VIX Future is at 29.30 from 29.61.
Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.27 from $138.59 with yields at 0.86% from 0.811%.
Positive Sectors On Thursday: Energy, Healthcare and Utilities of note.
Negative Sectors On Thursday: Technology and Consumer Defensive 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 with most visible names)
Today After The Close: None of note.
Monday Morning: SAP HCA QSR HAS CNA AMG NRZ CBU BOH SMPL of note.
IPHA +11%, SAM +9%, MAT +8%, FFBC +8%, BOOM +7%, BCS +6%, GILD +6%, CNX +5%, ABCB +5%
MIST -16%, USX -14%, LLNW -13%, EHTH -12%, CYBE -11%, INTC -9%, SFNC -8%, MANH -6%
Earnings This Morning Of Note
AIMC +0.41, CRI +0.39, ALV +0.29, SBSI +0.26, BLMN +0.20, FHN +0.12, CLF +0.10, TRTN +0.08, ABB +0.04, B +0.03 of note.
VNE (0.21), GBX (0.14), AXP (0.05) of note.
Still To Report: FHB, GNTX, ITW, UBSI
Erlanger Research Advance/Decline Line Chart – Updated 10/22 Close. The A/D line saw improvement yesterday.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves – ALGN KO TSLA WHR (CNBC)
5 Things To Know Before The Market Opens Today. (CNBC)
Coronavirus update: Volunteer in AstraZenaca study dies. (CNBC)
Stimulus package before election is fading, no kidding. (Bloomberg)
Summary of last night’s “civil” debate between Trump and Biden. (NYT)
Chicago shuts bars for the next two weeks due to Covid-19. (NBC News)
FTC wants Antitrust lawsuit against Facebook (FB). (WSJ)
Palantir (PLTR) will help track distribution of Covid-19 vaccine. (WSJ)
Tesla (TSLA) recalls 30,000 cars in China. (Bloomberg)
Stock Index Trading
Current through 10/22 close. Some improvement yesterday.
Bold means a change from prior day.
None of note.
Geopolitical & Related
President Trump will head to Florida and speak at The Villages at 4:30 p.m. EDT and then to Pensacola to deliver remarks at 8:00 p.m. EDT.
Investor Meetings & Conferences
AKBA (Webcast) TWST (Investor Day)
Sellside Conferences: None of note.
Industry Conferences: Annual Child Neurology Society & 16th International Child Neurology Society Congress Meeting (10/12-10/23) Oktoberfest Fall Mining Showcase (10/21-10/23)