Quote of the Day: “If you don’t read the newspaper you are uninformed. If you read the newspapers you are mis-informed”. -Mark Twain *NEW*
Overnight Summary & Early Morning Trading: The S&P 500 finished Tuesday lower by -1.07% at 5614.66. Monday higher by 0.64% at 5675.12. A two-day rally stopped on a dime yesterday. So much for 5 to 6 days up in a row. Futures are higher this morning into the Federal Reserve Announcement at 2:00 p.m. EDT. The S&P 500 is back above 5600. The range is 500 points on the S&P 500 for the year, 5600 to 6100. Thought for the week: Moving above 5700 would be a big deal after recapturing 5600. We were only 25 points away from after Monday’s close. Now we are 86 away from 5700.
Breaking: MBA Mortgage Applications fell -6.2% week over week when they were released at 7:00 a.m. EDT. (CNBC)
Chart of the Day: Will be back tomorrow taking off day into FOMC.
Key Events of Note Today:
- FOMC takes center stage today at 2:00 p.m. EDT and 2:30 p.m. EDT.
- Crude Oil Inventories at 10:30 a.m. EDT.
Notable Earnings Out After The Close
- Beats: None of note.
- Misses: ZTO -0.39 of note.
- IPOs For The Week: APUS, FATN, KMTS. OMGE, SAGT,
WGRX - New IPOs/SPACs launched/News:
- IPOs Filed/Priced: None of note.
- Secondaries Filed or Priced:
- EPRT commences public offering of 8.0 mln shares of common stock
- Notes Priced:
- Direct Offering: None of note.
- Exchangeable Subordinate Voting Shares: None of note.
- Private Placements.
- Selling Shareholders of note:
- Mixed Shelf Offerings:
- ASAN files mixed shelf securities offering.
- Convertible Offerings & Notes Filed:
Biggest Movers Up & Down Last Week: Well none posted as last week was too volatile for an update. If that does not mark the bottom, then I do not know what does.
- Movers Up: CRGX +16.9%, SPIR +13.5%, STNE +9.1%,WEST +6%, ACN +3.1%, PSTG +2.9%, RILY +2.5% of note.
- Movers Down: FEAM -16.6%, WALD -15%, HQY -11.6%, EPRT -2.3% of note.
News After The Close:
- Hewlett Packard Enterprises (HPE) introduces New Enterprise AI solutions with NVIDIA to Accelerate Time to Value for Generative, Agentic and Physical AI.
- Lots of news stories and press releases related to Nvidia’s Conference.
- Re/Max (RMAX) February Home Sales increases 8.4% over January.
- Trump Administration considering drastic cuts to federal funding for domestic HIV prevention. (WSJ)
- 10K or Qs Filings/Delays – (Filed), RILY FF RXT MVST FWRD (Delayed) of note.
Exchange/Listing/Company Reorg and Personnel News:
Buybacks:
- CVGW authorizes a $25 mln share repurchase program.
Dividends Announcements or News:
- Stocks Ex Div Today: NXPI STX BSY FSK CSGS ELME QCRH.
- Stocks Ex Div Tomorrow: AVGO PM SRE VST VICI RKT NDSN UWMC SNV MAIN KLIC DOLE
- JPM increases its quarterly dividend by 12% to $1.40 per share.
What’s Happening This Morning: (as of 8:15 a.m. EDT) Futures S&P 500 +12, NASDAQ +68, Dow Jones +17, Russell 2000 +4.56. Europe is lower with Asia lower ex China. Bonds are at 4.295% from 4.306% yesterday on the 10-Year. Crude Oil and Brent Crude are lower with Natural Gas higher. Gold is higher with Silver lower and Copper higher. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $83,798 from $82,700 higher by $1713 at +2.09%.
- Daily Positive Sectors: No third day for all sectors being higher. Energy, Materials and Financials modestly higher.
- Daily Negative Sectors: Communication Services, Consumer Cyclicals, Technology and Consumer Defensive were lower.
- One Month Winners: Healthcare and Energy of note.
- Three Month Winners: Healthcare, Energy and Utilities of note.
- Six Month Winners: Utilities, Financials, Communication Services and Consumer Cyclicals of note.
- Twelve Month Winners: Utilities, Financials, Communication Services, Consumer Defensive and Technology of note.
- Year to Date Winners: Materials, Financials, Healthcare, Consumer Defensive, and Real Estate of note.
Upcoming Earnings Of Note: (From Chartroom Software – sorted by market cap, highest to lowest with most visible names)
- Wednesday After the Close: None of note. Everyone is too scared to report post FOMC.
- Thursday Before The Open:
Notable Earnings of Note This Morning:
- Flat: None of note
- Beats: SIG +0.37, GIS +0.16, of note.
- Misses: BEKE -0.66, SRAD -0.04 of note.
- Still to Report: None of note.
Company Earnings Guidance:
- Positive Guidance: None of note.
- Negative or Mixed Guidance: None of note.
Advance/Decline Daily Update: The A/D fell to major support making new lows, before a rebound the last two of three days.
Gap Ups & Down In Early Pre-Market: (+2% or down more than -2%):
- Gap Up: CRGX +21.6%, STNE +9.6%, RXT +6.5%, SPIR +5.9%, WEST +5.2%, TRST +4.6%, ESEA +3.9%, TSLA +3.7%, HCM +2.9%, ZTO +2.9%, ZTO +2.9%, VIV +2.6%, NBIS +2.1%, SMCI +2%, LITE +2% of note.
- Gap Down: FEAM -23.3%, HQY -14.5%, WALD -11.1%, LODE -3.1%, HSAI -3.1%, LX -2.7%, MVST -2.1%, ASAN -2.1% of note.
Insider Action: MAC FLWS see Insider Buying with dumb short selling. None see Insider Buying with smart short sellers.
Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific.
- Market Wrap: Stock Futures higher into FOMC. (Bloomberg)
- Bloomberg: Zelensky Says He Will Talk To Trump After Putin’s Phone Call. (Bloomberg)
- Stocks Making The Biggest Moves: (CNBC)
- Bank of America warns of Chinese stock correction. (Bloomberg)
- Ukraine President Zelenskiy to talk with President Trump today. (Bloomberg)
- President Trump fired two Democratic members of the FTC. (NYT)
- Morgan Stanley (MS) aims to eliminate about 2,000 employees.
- Taiwan Semi (TSM) board member says that Intel (INTC) foundry takeover rumors are not accurate. (Digi Times)
- DELL CEO sees PC refresh. (CNBC)
- 5 Things To Know Before The Market Opens. (CNBC)
- Bloomberg The Big Take – How Wall Street thinks about Crypto’s future. (Podcast)
- Bloomberg Odd Lot – FTC Chairman Andrew Ferguson on Antitrust under Trump. (Podcast)
Bolded Royal Blue means behind a Pay Wall.
Economic & Geopolitical:
- The Federal Reserve Open Market Committee (FOMC) will be out with its latest announcement after a two-day meeting at 2:00 p.m. EDT and then will hold a press conference at 2:30 led by Federal Reserve Chairman Powell.
- Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
- President Trump’s Daily Schedule.
- President Trump receives Intelligence Briefing at 11:00 a.m. EDT.
- Press Briefing at 1:00 p.m. EDT with the Press Secretary.
- Federal Reserve Speakers are in blackout now until tomorrow.
M&A Activity and News:
- .
Moving Average Table: Move from 30% to 23% today.
Meeting & Conferences of Note: (Not updated today, back tomorrow)
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- Sellside Conferences:
- Bank of America Global Industrials Conference
- Bernstein European Sustainability Conference
- KeyBanc Healthcare Forum
- Morgan Stanley European Financials Conference
- Moffett Future of eCommerce Roundtable Event
- Oppenheimer Healthcare Conference
- Piper Sandler Energy Conference
- SidotiSmall Cap Conference
- Stifel CNS Forum
- TD Cowen Life Sciences Winter Meeting & Ski Trip
- Sellside Conferences:
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- Shareholder Meetings: DTIL, SCLX, VERX, VRPX
- Top Analyst, Investor Meetings: DBRG, DGX, DOMO, NVDA, VERX
- Update: None of note.
- Fireside Chat
- R&D Day: None of note.
- FDA Presentation:
- Industry Meetings or Events:
- Adobe Summit
- Alzheimer’s & Parkinson’s Drug Development Summit
- AMD & Diabetic Eye Disease Drug Summit
- Applied Power Electronics Conference
- Game Developers Conference
- HP Amplify Conference
- LSI USA ’25 Conference
- MDA Clinical and Scientific Conference
- NVIDIA GTC AI Conference
Upgrades & Downgrades:
The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.
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- Upgrades: QSR XPEV AFRM
- Downgrades:
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