CAPIS Morning Note – 10/7/2019 The Week Is All About U.S. China Trade Talks
Corporate Actions IPOs on deck: Three IPOs on deck for this week. IPOs Filed: None filed after the close. Secondaries on deck:None of note. Notes Priced: None of note. Common Stock filings: None of note. Mixed Shelf Offerings filed: ADMA of note. Convertible Offering Files:None of note. Senior Notes Filed: None of note. Courtesy of IPO Financial Earnings After The…
IPOs on deck: Three IPOs on deck for this week.
IPOs Filed: None filed after the close.
Secondaries on deck:None of note.
Notes Priced: None of note.
Common Stock filings: None of note.
Mixed Shelf Offerings filed: ADMA of note.
Convertible Offering Files:None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note
News After The Close: (In time order after the close)
SkyWest Airlines (SKYW) saw block hours rise 6.3% and will stop reporting monthly traffic after this release.
United Technology (UTX) wins $325 million Navy contract.
UAW and General Motors (GM) talks hit an impasse. (NYT)
Barron’s: Positive on SCHW UTX RTN TSM C MA DAL Mixed on SPOT.
Stock Repurchase: COP
Dividend Increase: COP
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: SPWR +5%, FSLR +4%, RNG +4%, MTCH +4%
Gap Lower: JKS -4%
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -9 Dow Jones Industrial Average -67 NASDAQ -25 Russell 2000 -5 Fair values are higher. Asia mixed and Europe higher.
Gold and silver lower with 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 $131.78 from $131.55 with yields at 1.534% from 1.54%. Prices as of 8:45 a.m. EDT.
Positive Sectors On Friday: All higher led by Consumer Goods, Utilities, Healthcare, Financials and Technology.
Negative Sectors On Friday: None of note.
One Month Winners: Utilities, Consumer Goods, Materials and Financials.
Three Month Winners: Utilities and Consumer Goods.
Six Month Winners: Utilities, Consumer Goods and Financials.
Twelve Month Winners: Utilities, Technology, Consumer Goods and Financials.
Year to Date: Consumer Goods, Industrials and Utilities.
Hourly Action This Week:
Updated through Thursday close.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Monday Before The Open: None of note.
Earnings This Morning Of Note
None of note.
None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top Story: China will not agree to a broad trade deal or reform industrial policy as well as end government subsidies. (Bloomberg)
Wall Street Journal Lead Headline:GM, Union Clash as Talks Narrow
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know Before The Market Opens Today. (CNBC)
Stocks Making The Biggest Moves. (CNBC)
General Electric (GE) to freeze its pension fund. (CNBC)
China will not agree to a broad trade deal or reform industrial policy as well as end government subsidies. (Bloomberg)
Expectations rising for some type of U.S. China trade deal. (NYT)
A second whistleblower has emerged against President Trump. (ABC)\
Trump Administration to ignore subpoena until House holds official vote to open up impeachment inquiry. (Reuters)
HSBC cuts 10,000 jobs which is 4% of the global workforce.
Stock indexes improved on Friday. Current through 10/4.
Bold means a change from prior day.
The advance/decline line moved to a cash yesterday morning. Updated through Friday close. Year to date model up 8.73% on the S&P 500. 4 buy signals and 4 cash signals in 2019. The model is now in cash with a gain of 1.28% on the recent buy.
YTD 63% (-3% week over week) of stocks are higher and 37% are lower. Updated 9/27/19 close with next update on 10/4/19 close.
Courtesy of Phil Erlanger Research, Inc.
Algo/HFT Trading Levels:
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. Update through Friday’s close.
Courtesy of Phil Erlanger Research
The Value Lines may be accessed via Bloomberg. For a free trial if you ar a Bloomberg user go to APPS CS:ERLA
Economic & Related:
Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as PPI, CPI, FOMC Minutes and University of Michigan Consumer Sentiment Survey.
President Trump will lunch with the Secretary of State then in the afternoon meet with senior military leaders that ends in dinner with their spouses and the First Lady.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: WVE (analyst day) SMMT (R&D Day)
Sellside Conferences: Chardan Annual Genetic Medicines & Therapy Conference.
Industry Conferences: FireEye (FEYE) Cyber Defense Summit (10/7-10/10). Annual Cytometry Meeting (10/5/-10/8). World Congress of the International Cartilage Regeneration and Joint Preservation Society(10/5/-10/8). International Congress on Applications of Lasers and Electro-Optics.
Upgrades & Downgrades: Smile Direct Club (SDC) which was crushed on its IPO gets love from Wall Street with it now at $14.72 from opening of $18.32.