Overnight Summary & Early Morning Trading:
- The S&P 500 finished Thursday higher by 0.58% at 6738.44 from Wednesday lower by -0.53% at 6699.40.
- S&P 500 hit its 31st All-Time Closing High of 2025 on 10/08/25.
- Futures are higher this morning by +18.50 (+0.04%) at 6793.50 on the S&P 500 around 6:05 a.m. EDT.
- Year to date the S&P 500 is up by 14.57% from 13.90% from Wednesday’s close.
Executive Summary:
- CPI is due out at 8:30 a.m. EDT. A high number and stocks fall. A low number and stocks rise. Just right at 0.3% and stocks rise as well. Estimate is 0.4%.
- Trump begins a long overseas trip tonight where he will meet with XI and maybe Putin as well.
- Trump cancelled all talks with Canada overseas Tariffs due to an ad running in Ontario with President Reagan used in the ad.
- PG beat estimates on earnings and revenues. Up 3%.
- See News After The Close – notice several major companies cutting workforces AMAT TGT COP.
- New Short Interest numbers after the close today. Will review names on Monday. We will see if NASDAQ hits another all-time absolute shares short high again.
Key Events of Note Today:
- Economic news of note today includes CPI and University of Michigan Consumer Sentiment and their inflation data as well as weekly Baker Hughes Rig Count.
- No Federal Reserve Speakers as they are in a blackout period until next Wednesday, October 29th.
- President Trump heads overseas tonight at 10:40 p.m. EDT, first stop Malaysia.
Notable Earnings Out After The Close:
- Beats: FIX +1.96, CYH +1.52, SAM +0.92, NEM +0.27, DECK +0.24, INTC +0.21, BYD +0.10, DLR +0.10, F +0.10, SSNC +0.10, SF +0.10 of note. (>$0.10)
- Misses: ALK -0.27, SLM -0.17, FFIN -0.11, MGRC -0.10, WKC -0.07, MRTN -0.01, ELME -0.01 of note.
- Flat: T of note.
Capital Raises:
- IPOs For The Week: BGIN, DTDT, ELCG, MKTR, MMTX, NPT, POAS
- New IPOs/SPACs launched/News: None of note.
- IPOs Filed/Priced: None of note.
- Secondaries Filed or Priced:
- BJDX: Form S-3 6,930,000 Shares of Common Stock.
- COYA Proposed Public Offering of Common Stock.
- DBGI: Form S-1.. Up to 1,442,308 Shares of Common Stock.
- SEV: Form S-1.. 6,000,000 Shares of Class B Common Stock.
- STSS: FORM S-3 – 24,338,649 Shares of Common Stock – 13,884,617 Shares of Common.
- XFOR – X4 Pharmaceuticals Announces Proposed Underwritten Public Offering.
- Notes Filed Or Priced: None of note.
- Convertibles Filed: None of note.
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Private Placements: None of note.
- Selling Shareholders of note:
- SINT: FORM S-3 – 1,741,539 Shares of Common Stock Offered by the Selling Stockholders.
- Mixed Shelf Offerings:
- ISPC: Form S-3.. $100 million Mixed Shelf.
- VTOL files mixed securities shelf offering.
- KO files mixed securities shelf offering.
News After The Close:
- President Trump says he doesn’t want China to pay the threatened 157% tariffs, because it is unsustainable; says will be discussing many issues with Chinese President Xi on October 30.
- Applied Materials (AMAT) to reduce workforce by 4%.
- Target (TGT) to lay off 1,800.
- ConocoPhillips (COP) to cut global workforce 25%.
- 10-K Delays , 10-Q Delays: None of note.
Exchange/Listing/Company Reorg and Personnel News:
- TDOC announces that Mala Murthy will be stepping down from her role as Chief Financial Officer to pursue an opportunity outside of the healthcare industry
Buybacks: None of note.
Dividends Announcements or News:
- Stocks Ex Div Today of note: GEHC PNR UNM SIG CNXC of note.
- Stocks Ex Div Monday of note: RY BK KNTK USAC of note.
- SBCF increases quarterly cash dividend 5.6% to $0.19/share from $0.18/share
What’s Happening This Morning: (as of 7:35 a.m. EDT)
- Futures S&P 500 +19 NASDAQ 100 +116 Dow Jones +56 Europe is lower and Asia is mixed. Bond yield is at 4.01% from 3.989% on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas lower. Gold, Silver and Copper are lower. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $111,230 from $109,366 up by 0.74% which is $798.
- Daily Positive Sectors: Energy, Industrials, Technology, Consumer Cyclical and Materials were higher.
- Daily Negative Sectors: Consumer Defensive and Real Estate were lower.
- One Month Winners: Communication Services, Technology, Materials, Energy, Consumer Cyclicals, and Utilities of note.
- Three-Month Winners: Communication Services, Technology, Materials, Energy, Consumer Cyclicals and Utilities of note.
- Six-Month Winners: Technology, Communication Services, Consumer Cyclicals, Materials and Industrials of note.
- Twelve-Month Winners: Communication Services, Technology, Financials, Consumer Cyclical, and Industrials of note.
- Year to Date Winners: Communication Services, Materials, Technology, Financials, Utilities, Industrials and Energy of note.
Bolded means the Sector is new to the period in which it falls.
Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Today After the Close: None of note
- Monday Before The Open:
Notable Earnings of Note This Morning:
- Beats: SNY+2.65, HCA +1.24, GD+0.18, PG +0.09 , FLG +0.01, of note.
- Misses: BAH -0.02 of note.
- Flat: None of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: This Morning – of note. Yesterday – DLR SLM
- Negative or Mixed Guidance: This morning – BAH of note. Yesterday – MHK EGP
Advance/Decline Daily Update:
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- GapUp: VTYX +66.3%, of note.
- GapDown: MOH -20.9%, of note.
Options Activity: Calls and Puts Top Ten Names Sorted Volume. Highlighted names are new to the most active list.
Insider Action: SMMT sees Insider Buying with dumb short selling. None sees Insider Buying with smart short sellers. Above $100,000 in purchases.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- Bloomberg Lead Story: Trump Terminates Trade Talks With Canada. (Bloomberg)
- Bloomberg Market Wrap: Stock futures rise ahead of inflation data. (Bloomberg)
- President Trump cancelled at Canadian Tariff talks over ad in Ontario. (WSJ)
- Redditt (RDDT) accuses Perplexity of stealing user comments. (CNBC)
Bolded on story link means behind a Pay Wall.
Economic & Geopolitical:
- No Federal Reserve Speakers of note today due to Blackout Period prior to FOMC next week.
- Economic Releases:
- September CPI due out at 8:30 a.m. EDT and expected to stay at 0.4%
- September New Homes Sales are due out at 10:00 a.m. EDT but may not be reported due to government shutdown.
- University of Michigan Consumer Sentiment and Inflation data are due out at 10:00 a.m. EDT.
- President Trump:
- President Trump heads to Asia tonight at 10:40 p.m. EDT.
M&A Activity & Daily Changes: None of note.
Moving Average Table:
Meeting & Conferences of Note:
- Sellside Conferences:
- Wainwright Global Investment Conference
- Top Analyst, Investor: XNCR
- Shareholder Meetings: MSGM, SILO
- Fireside Chat: None of note.
- FDA Presentation: XNCR: Data Presentation XmAb819
- R&D Day: None of note.
- Meetings:
- AACR-NCI-EORTC
- North American Cystic Fibrosis Conference (NACFC)
- SmartSense LIVE User Con
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.
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- Upgrades: FSV LNT (2) MNTN of note.
- Downgrades: MOH SNAP of note.