Watch For Today- The number of tape bombs related to China trade issues is on the rise. Expect the unexpected.

IPOs on deck:   None of note.

IPOs Filed: None filed after the close.

Secondaries Priced: ASLN CWEN AER of note.

Notes Priced:   None of note.

Common Stock filings: VRAY ARWR TUFN CWEN AER KOD PLUG of note.

Mixed Shelf Offerings filed: ARWR PLUGof note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  TWTR of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

COUP +0.14 of note.

Missed:

None of note.

Hourly Action This Week:

Close of 11/29.

News After The Close (In Order of Time)

Wells Fargo (WFC) names Scott Powell as new COO as of next Monday.

United Health (UNH) preannounces Fiscal year 2019 above estimates.

J.C Penney (JCP) regained compliance with the NYSE.

International Game & Technologies (IGT) CFO Alberto Fornaro leaves to pursue other opportunities.

General Dynamics (GD) wins $22.2 billion Navy contract.

Lockheed Martin (LMT) wins $989 million Air Force contract.

Index Changes – ODFL to join S&P 500, CCMP to join S&P 400 and S&P 600 adds RC and ILPT.

Stock Repurchase Announcements:  CW PPBI NTB

Dividend Increase: CWH (special dividend)  BKE

Gap Higher: BOLD +107%, NK +26%, VRAY +22%, QURE +18%, AXSM +12%, ARDX +11%, UGAZ +8%, HMY +8%, SBGL +5%, TVIX +5%, UVXY +4%, AKS +4%, JNUG +4%.

Gap Lower: ASLN -46%, CBL -35%, KOD -14%, PLUG -11%, CLF -10%, TUFN -7%, ARWR -4%, TTEC -4%, FSV -4%, GOGL -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 -19 Dow Jones Industrial Average -207 NASDAQ -66 Russell 2000 -8.63 Fair values are lower. Asia and Europe mixed to lower.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $129.28 from $128.91 with yields at 1.78% from 1.836%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Monday: Real Estate of note.

Negative Sectors On Monday: Industrials, Technology and Services 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:  

CRM WDAY MRVL ZS HQY AVAV of note.

Wednesday Before The Open:

RY CPB JWA GIII BNED of note.

Earnings This Morning Of Note

Beat:

BMO +0.02, LE +0.02 of note.

Missed:     

QTT (1.03), DCI (0.02) of note.

Rags & Mags: Highlighted Stories may be clicked through to the original story.

Top News Story: President Trump may delay the trade deal a year and is rather vague about 12/15 deadline. (Bloomberg)

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)

Trump Administration may roll back intellectual property protection for drug companies to win favor with Democrats. (WSJ)

France vows to retaliate against U.S. tariffs. (FT)

Cyber Monday Sales up 16% year over year too $9.2 billion. (CNBC)

Notable Data Points

Most stock indexes lost more ground on Monday. Current through 12/2.

Bold means a change from prior day.

The advance/decline line model is now a buy. Updated through 12/2. Year to date model up 12.56% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy.

YTD 65% (+1% change week over week) of stocks are higher and 38% are lower. Updated  through 11/29 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 12/2.

Economic & Related:

November ADP Employment is due out at 8:15 a.m. EDT and is expected to come in at 175,000 from 125,000.

November Non-ISM Manufacturing Index is due out at 10:00 a.m. EDT and are expected to rise to 54.8 from 54.7.

API Petroleum Institute Weekly Data is due out at 4:30 p.m. EDT.

Geopolitical:      

President Trump attends the NATO Summit.

Conferences & Analyst Meetings:

Investor/Analyst Days & Conference Calls of Note: ICFI GES BDC MRCY PEN UNH  (Investor Day)  CPA INST (Analyst Day) CSV ARDX (Conference Call)

Sellside Conferences: Wells Fargo TMT Conference (12/2-12/4). Credit Suisse TMT Conference (12/2-12/5). Evercore ISI HealthConX Conference (12/3-12/5). Piper Jaffray Healthcare Conference. (12/3-12/5). Credit Suisse Annual Industrials Conference (12/3-12/5) UBS Global Emerging Markets One on One Conference (12/3-12/5). Scotiabank Mining Conference (12/3-12/4). Morgan Stanley Consumer and Retail Conference (12/3-12/4).

Industry Conferences: NASDAQ Annual Investor Conference (12/3-12/4).

M&A Activity

Pepso (PEP) to buy BFY Brands.

Cadence Design (CDNS) to buy AWR Corporation from National Instruments (NATI) for $160 million.

Astellas (ALPMY) to buy Audentes Therapeutics (BOLD) for $60 a share in cash.

Cleveland Cliffs (CLF) to buy AK Steel (AKS) for $3.36 a share.

Upgrades & Downgrades