Breaking News: ADP Payroll came in at 183,000. With January revised to 209,000 down by 82,000.

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: KPTI EHTH ZGNX of note.

Notes Priced: None of note.

Common Stock filings:  ZGNX of note.

Mixed Shelf Offerings:  FFIC  of note.

Convertible Offering Files: BBIO INFN of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

CDLX +0.14, BNFT +0.10, HIIQ +0.09, CVET +0.06, CNR +0.05, AMBA +0.03, FOXF +0.02, VEEV +0.02, YEXT +0.02  of note.

Missed: 

JWN (0.25), AVAV (0.18), URBN (0.13)  of note.

Flat: 

HPE +0.00, ROST +0.00

Hourly Action This Week: Updated 3/2 Close

News After The Close (In Order of Time)

World Bank announces $12 billion to support COVID-19 response.

NASDAQ sees U.S. equity options volume for February of 185 million contracts versus 178 million in January and 121 in February 2019.

Facebook (FB) to scale back its digital currency effort, Libra.

10-K Delay: FLR

Lowers Guidance: WEX OMI

Withdraws Guidance: 

Stock Buybacks: T HLT OMF

Dividend Increases: MRTN ROST KAI CCMP

Dividend Cut: 

Gap Higher: CVET +11%, YEXT +10%, FOXF +9%, AMBA +8%, BNFT +6%, OSPN +5%, VEEV +4%, KPTI +4%

Gap Lower: CDLX -28%, AVAV -10%, JWN -9%, URBN -6%, HPE -6%, ZGNX -5%

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 -14 Dow Jones Industrial Average -105  NASDAQ -33 Russell 2000 -7. Fair values are massively higher. Asia mixed and Europe higher.

Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $135.80 from $134.56  and yields a 1.00% from 1.12%.  Prices as of 8:55 a.m. EDT.

Positive Sectors On Tuesday: None of note.

Negative Sectors On Monday: All.

One Month Winners: None of note.

Three Month Winners: Conglomerates.

Six Month Winners:  Technology, Healthcare and Consumer Goods.

Twelve Month Winners: Technology, Consumer Goods,Utilities, Services and Healthcare.

Year to Date: Conglomerates.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close:   of note.

Wednesday Before The Open:  of note.

Earnings This Morning Of Note

Beat: 

ANF +0.08, CPB +0.06, DLTR +0.04, OMI +0.03  of note.

Flat:

PLAB +0.00

Missed:

TWI (0.29), NAV (0.08), ASTE (0.01) of note.

Still to Report: BF.B, JW.A

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

Top News Story: 

5 Things To Know To Start Your Day. (Bloomberg)

Stocks Moving This Morning. (CNBC)

Coronavirus update: Italy to close schools. (CNBC)

Mortality rate of coronavirus hits 3.4%. (CNBC)

Italy to close schools and universities to mid March. (CNBC)

Coronavirus Map. (Bloomberg)

Democratic Super Tuesday results see Biden win Alabama, Arkansas, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas and Virginia. Sanders wins California, Colorado, Utah and Vermont. Biden now leads in delegates. (CNN)

Michael Bloomberg to reassess campaign following Super Tuesday results. (MSNBC)

SEC expands investigation into Newell Brands (NWL). (WSJ)

Stock Index Tracking

Current through 3/3 close. A little bit of deterioration.

Bold means a change from prior day.

The advance/decline line model is now back in cash. Updated through 3/3 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -7.64% with the S&P 500 lower by -7.80%. 5 buy signals and 4 cash signals in 2019. We moved to cash at 3116.31 on the S&P 500.

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 3/3 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

API Petroleum Institute saw Crude Oil build by 1.7 million barrels less than estimate of 3.33 million barrels.

MBA Mortgage Applications rose 15% this week.

February ADP Employment Index is due out at 8:15 a.m. EDT and is expected to fall to 165,000 from 291,000.

February ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 54.8 from 55.5.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT

Geopolitical:      

President Trump will speak to the Latino Coalition Legislative Summit at 1:50 p.m. EDT. and then the Coronavirus Task Force will speak at 5:30 p.m. EDT. At 9:00 p.m. EDT the president will give an interview to Fox News.

Senate to hold hearing on the Airlines and coronavirus.

Super Tuesday sees Former Vice President Biden take the lead.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note:  CNC GE (Conference Call)  (R&D Day)  EHC  PGR MAXR MRNA STZ  GM  ZEN CALX NCMI (Investor Day)  ZEN JCOM (Analyst Day)

Sellside Conferences: Credit Suisse Annual Energy Conference (3/2-3/4). Raymond James Annual Investors Conference (3/1-3/4). Citi Global Property CEO Conference (3/1-3/4). Cowen & Co Annual Healthcare Conference (3/2-3/4). Morgan Stanley Media & Telecom Conference (3/2-3/5). UBS Global Consumer and Retail Conference 2020. (3/4-3/5). Evercore ISI Annual Housing and Building Products Conference (3/4).

Industry Conferences: None of note.

M&A Activity

Exact Sciences (EXAS) completes acquisitions of Paradigm Diagnostics and Viomics, no terms.

Upgrades & Downgrades not updated today.