CAPIS Morning Note – 12/23/19 China Drops More Tariffs On U.S. Products
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: NBLX BAM VAPO OSMT of note. Mixed Shelf Offerings: LCI EGP AVRO URGN PEI CBOE HESM LOB EIGR VAPO MITK SGRY of note. Convertible Offering Files: None of note. Senior Notes…
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: NBLX BAM VAPO OSMT of note.
Mixed Shelf Offerings: LCI EGP AVRO URGN PEI CBOE HESM LOB EIGR VAPO MITK SGRY 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: Updated 12/19
News After The Close (In Order of Time)
FleetCor (FLT) issues comments on FTC Lawsuit.
Lockheed Martin (LMT) wins $7 billion Air Force contract and $1.96 billion Navy contract.
Raytheon (RTN) wins $1 billion Navy contract and $1 billion Missile Defense Agency contract.
Stock Repurchase Announcements:
Gap Higher: ITCI +39%, CBB +29%, APA +5%, SLNO +4%.
Gap Lower: OSMT -7%, CLS -3%, ACB -3%.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +8 Dow Jones Industrial Average +80 NASDAQ +33 Russell 2000 +0.2. Fair values are lower adding to gains. Asia mixed and Europe mixed.
Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures mixed. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $128.30 from $128.06 with yields at 1.908% from 1.94%. Prices as of 9:00 a.m. EDT.
Positive Sectors On Friday: Healthcare, Industrials, Technolgy and Utilities of note.
Negative Sectors On Friday: Conglomerates.
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:
None of note.
Tuesday Before The Open:
None of note.
Earnings This Morning Of Note
Still to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: China lowers tariffs on 850 U.S. products. (CNBC)
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)
Watch for a missile test from North Korea around Christmas. (NYT)
Saudi Arabia sentenced five to death and three to jail in the Khasoggi case. (CNBC)
Walt Disney (DIS) saw “The Rise of Skywalker” bring in $175 million, its lowest Star Wars total for a first weekend of the trilogy. (CNBC)
Draft Kings to come public through a merger with Diamond Eagle Acquisition (DEAC) and privately held SBTech. (CNBC)
Stock Index Tracking
All stock indexes remain strong. Current through 12/20.
Bold means a change from prior day.
The advance/decline line model is now a buy though it is struggling with the recent action. Updated through 12/20. Year to date model up 15.95% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 7.22%.
YTD 65% (+1% change week over week) of stocks are higher and 35% are lower. Updated through 12/13 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 12/20.
Economic & Related:
November Durable Orders are due out at 8:30 a.m. EDT and are expected to rise to 1.4% from 0.6%.
November New Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 735,000 from 733,000.
$40 billion 2 Year Notes Auction at 1:00 p.m. EDT.
President Trump is in Florida for Christmas and there is nothing on his schedule.
Conferences & Analyst Meetings:
Investor/Analyst Days & Conference Calls of Note: None of note.
Sellside Conferences: None of note.
Industry Conferences: None of note.
Johnson & Johns (JNJ) to buy TARIS Biomedical, no terms.
Upgrades & Downgrades – Updated through 8:45 a.m. EDT