The S&P 500 has stalled out after any four day rallies since 8/28 that concluded a six day rally. If up today, then this will be the sixth up day in a row breaking a six month streak that stalled at four days. Impressive.
The polar vortex is now in the upper third of the United States this week. Natural Gas prices should move higher.
Tom Brady has now won 7 Super Bowls. More than his old team the Patriots and even the Steelers. Number 8 next year?
Total Cases 26,796,705 from 26,700,702
Deaths 454,134 from 452,660
New Tests 1,480,757 from 1,847,899
New Cases 96,003 from 113,927 with positivity rate of 6.5% (up 0.3)
Current Hospitalizations 81,439 from 84,233
IPOs Priced or News:
Secondaries Priced: BIOL POLA of note.
Notes Priced of note: None of note.
Common Stock filings: WYNN RSI POLA OCGN HOFV EBON of note.
Selling Shareholders of note: IMAB HOFV SBLK RSI HIMS of note.
Mixed Shelf Offerings: UAVS SNAP SEAC of note.
Convertible Offering Files: None of note.
Summary From The Trade Exchange bringing traders and investors real time news and Squawk Box.
Earnings Out After The Close Of Note:
Gores Holdings VI (GHVI) in talks with a merger with Matterport. (Bloomberg)
Orion Engineered Carbons (OEC) will increase pricing on acetylene black by 20% on March 1st.
i3Verticlas (IIIV) buys asssets of Business Information Systems for $87.7 million in cash and stock.
Lockheed Martin (LMT) wins $480 million Navy Contract.
Spotify (SPOT) ups stake in Tencent Music (TME) to 21.1%.
There is no deal with Apple (AAPL) and Hyundau/Kia on an electronic vehicle.
Barron’s + on HLT UA AMZN VNO BXP PLD DRE and +/- on PTON.
Dividend Increases: RNR ALLE
Stock Buyback New Or Increase:
Insider Buys: SRCE AFG APEN DCOM (source The Trade Exchange)
Erlanger Valuelines: Volatility is on the rise as noted by the blue highlighting. Updated 2/4 Close
Hourly Action – Updated 2/3 close. Indexes struggled 2:00 onward last week.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Quick comment -Futures are strong this morning making it the fourth up day in a row.
S&P 500 +16 Dow Jones Industrial Average +150 NASDAQ +65 Russell 2000 +22. Fair values are lower. Asia higher and Europe higher. VIX is at 26.56 from 26.67 this morning in futures. VIX closed at 20.87 from 21.77 and the three month futures at 26.52 from 26.79.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at 136.53 from $136.73 with the yield at from 1.14%.
Positive Sectors On Friday: Materials, Communications Services and Consumer Cyclicals of note.
Negative Sectors On Friday: None of note.
One Month Winners: Energy, Financials Real Estate and Industrials of note.
Three Month Winners: Industrials, Communication Services, Utilities and Financials of note.
Six Month Winners: Consumer Cyclical, Industrials, Technology and Materials of note.
Twelve Month Winners: Technology, Consumer Cyclical, Communication Services and Healthcare of note.
Year to Date: Energy, Materials, Healthcare and Financials of note.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: KKR, SPG, TTWO, NUAN, CHGG, JKHY, RE, RGA, ACM, OMF, CDK, VRNS, LEG, RAMP of note.
Tuesday Before the Open: FIS, SPGI, DD, CNC, CARR, TDG, WLTW, INCY, FOXA, MLM, RCL, CGC, MAS, IT, OMC, CVE, ARMK of note.
Earnings This Morning Of Note:
Beats: AMG +0.54, CUB +0.38, ENR +0.28, CNA +0.23, SAIA +0.21, HAS +0.13, CRNC +0.08, GPN +0.04, DNB +0.02
Erlanger Research Advance/Decline Chart – Updated 2/5 Close. Definite improvement this past week.
Gap Ups & Down In Early Pre-Market:
CRHM +78%, OCGN +66%, WPRT +48%, SNPR +25%, LIZI +23%, CLNE +15%, IDYA +14%, GHVI +13%, CNA +13%, YY +8%, CMI +4%
SBLK -7%, POLA -4%, WYNN -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know Before The Open – (CNBC)
Stocks Making The Biggest Moves –HAS PLTR ENR (CNBC)
Biggest Analyst Calls of The Day – AAPL TSN PETC EL (CNBC)
Covid Update – AstraZeneca (AZN) works on variant of Covid in South Africa and pulls vaccine there. (CNBC)
Treasury Secretary Yellen notes that economy can reach full employment if stimulus plan is passed with stimulus checks at $60,000 level. (CNBC)
U.K. variant of Covid-19 is spreading quickly in the U.S. (NY Times)
Democrats to propose $3000 per child in terms of direct payments. (The Washington Post)
President Biden notes will not lift Iranian sanctions until they stop uranium enrichment. (CBS News)
Stock Index Trading:
Current through 2/5 close. Overall confidence remains at 100%.
Bold means a change from prior day.
The President and The Vice President receive the President’s Daily Brief, Oval Office, 10:15 a.m. EST
Press Briefing by White House COVID-19 Response Team and public health officials, The White House, 11:00 a.m. EST
Press Briefing by Press Secretary Jen Psaki, James S. Brady Press Briefing Room, 12:00 p.m. EST
The President and The Vice President virtually tour the State Farm Stadium vaccination site in Glendale, Arizona, 2:30 p.m. EST
Federal Reserve Cleveland President Loretta Mester speaks at 12:00 p.m. EST.
Investor, Sellside and Industry Meetings
NVS (Update) HQY (Sellside) TGTX (Conference Call)
Sellside: DAIWA Investment Conference (2/8-2/11)
Industry Conferences: Microsoft Global Education Partner Summit (2/8-2/10) American Society For Transplantation and Cellular Therapy
Upgrades & Downgrades of Note This Morning: Note that downgrades remain prevalent in February.
Friday Sellside Recommendations