CAPIS Morning Note -12/2/19 Trump Restores Tariffs in Brazil and Argentina, Welcome To December!
Watch For Today- U.S. Trade Representative will issue report on France’s digital tax on U.S. today. IPOs on deck: None of note. IPOs Filed: None filed after the close. Secondaries Priced: None of note. Notes Priced: None of note. Common Stock filings: None of note. Mixed Shelf Offerings filed: None of note. Convertible Offering Files: None of note. Senior Notes Filed: None of note. Courtesy…
Watch For Today- U.S. Trade Representative will issue report on France’s digital tax on U.S. today.
IPOs on deck: None of note.
IPOs Filed: None filed after the close.
Secondaries Priced: None of note.
Notes Priced: None of note.
Common Stock filings: None of note.
Mixed Shelf Offerings filed: None of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note.
Hourly Action This Week:
Close of 11/29.
News After The Close (In Order of Time)
China wants some tariffs rolled back and others to be suspended in the future for Phase One Deal.
North Korea threatens Japan with “real ballistic missile”.
Black Friday online sales were strong on Friday coming in at $7.4 billion while brick & mortar sale fell by 6.2%.
President Trump to discuss China and 5G at the NATO summit this week.
Barron’s positive on MSFT CSCO INTC IBM HPQ SKT SU GOOS CVX COP BP TOT BURL.
Barron’s negative on XRX M ABMD MMM OXY.
Hong Kong protests are hitting Hong Kong Disney attendance, DIS.
Weather has disrupted travel throughout the U.S.
Stock Repurchase Announcements:
Gap Higher: ASLN +89%, EVFM +41%, CDXC +13%, UWT +5%
Gap Lower: ROKU -6%, VSAT -5%, DGAZ -5%, ADT -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 +5 Dow Jones Industrial Average +43 NASDAQ +8 Russell 2000 +2.45 Fair values are lower. Asia and Europe mixed.
Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at$128.91 from $129.42 with yields at 1.836%. Prices as of 8:25 a.m. EDT.
Positive Sectors On Friday: None of note.
Negative Sectors On Friday: Materials, Energy and Industrials of note.
One Month Winners: Healthcare, Industrials and Technology.
Three Month Winners: Industrials, Financials and Healthcare.
Six Month Winners: Consumer Goods, Industrials, Technology and Healthcare.
Twelve Month Winners: Technology, Industrials and Services.
Year to Date: Technology, Industrials, Technology, Consumer Goods, Services and Financials.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close:
COUP of note.
Tuesday Before The Open:
BMO DCI NIO CONN LE GSM 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 News Story:
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know To Start Your Day. (CNBC)
Stocks making the biggest move this morning. (CNBC)
Hong Kong to sanction nonprofit organizations and halt U.S. Navy visits after President Trump signs Hong Kong Human Rights Bill. (Bloomberg)
President Trump restores tariffs on Brazil and Argentina immediately.
European Union (EU) unable to block U.S. tariffs after WTO rules on Airbus. (Reuters)
November China PMI came in better than expected.
Fiat Chrysler (FCAU) confirms a 4 year deal with the UAW.
Notable Data Points
Most stock indexes remain strong but lost some ground on Friday. Current through 11/29.
Bold means a change from prior day.
The advance/decline line model is now a buy. Updated through 11/29. Year to date model up 13. 81% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy.
YTD 64% (+1% change week over week) of stocks are higher and 38% are lower. Updated through 11/15 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 11/29.
Economic & Related:
President Trump will head to London today for a NATO Meeting this week.
Reserve Bank of Australia will announce their latest decision at 9:00 a.m. EDT.
Conferences & Analyst Meetings:
Investor/Analyst Days & Conference Calls of Note: AFL (Teleconference) GE (Investor Day) AAPL (Special App Focused Event) NK (Meeting)
Sellside Conferences: Wells Fargo TMT Conference (12/2-12/4). Credit Suisse TMT Conference (12/2-12/5).
Baxter (BAX) to buy Seprafilm Adhesion Barrier from Sanofi for $350 million.
Upgrades & Downgrades