Breaking News: Former Federal Reserve Chairman Janet Yellen will be interviewed on CNBC at 10:00 a.m. EDT.

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings: CEQP of note.

Mixed Shelf Offerings:  ATEX of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

None of note.

Misses:

None of note.

Gap Ups: MESO +67%, CODX +41%, TWO +25%, XBIT +16%, OSUR +9%, LGIH +8%, SDC +7%, MMM +4%, CC +4%, OSW +4%

Gap Downs: VRA -7%, DAL -7%

Hourly Action This Past Week: Updated 4/2 Close

News After The Close (In Order)

Floor & Decor (FND) keeps stores open for pick up of online, phone or app orders.

Ratings agency keeps Germany with a strong rating and a stable outlook.

Ratings agency keeps France with a good rating and a stable outlook.

JetBlue (JBLU) cuts April schedule by 70%.

Moody’s downgrades Argentina to Ca from Caa2 and cuts outlook to negative.

Delta (DAL) sees Q2 revenues to be down 90% as cut 90% of flights.

United (UAL) and American (AAL) cut over 90% of flights in and out of NYC Metropolitan area.

Walmart (WMT) to limit the number of customers in the store.

Lowers Guidance: DAL

Withdraws Guidance:  SEM SDCCUTR RDNT

Stock Buybacks Stopped: CRVL

Dividend Cut Or Suspended: OSW

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

S&P 500 +99  Dow Jones Industrial Average +836 NASDAQ +305 Russell 2000 +56. Fair values are lower.  Asia mixed and Europe higher.

Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.66 from $139.09  with  yields at 0.643% from 0.595%.

Positive Sectors On Friday: All lower.

Negative Sectors On Friday: Led by Utilities, Financials, Energy and Materials of note.

One Month Winners: None of note.

Three Month Winners: None of note.

Six Month Winners:  None of note.

Twelve Month Winners: All in the red.

Year to Date: None of note.

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

Today After The Close:  None of note.

Tuesday Before The Open: LNN FLR REV GBX ANGO CONN of note.

Earnings This Morning Of Note

Beat: 

SMPL +0.06 of note.

Missed:

None of note.

Still to Report: 

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

Top News Story: News of a slowing of the pandemic causes a rebound of markets.

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

5 Things To Know Before Stock Market Opens On Monday. (CNBC)

Stocks Moving This Morning. (CNBC)

Coronavirus update: Germany drafting plans to end lockdown.

JP Morgan (JPM) CEO Jamie Dimon notes we are in a “bad recession” with “financial stress” like 2008. (CNBC)

Bill Gates predicts a lower death rate than what The White House is saying. (CNBC)

Federal Reserve St. Louis President James Bullard says the economy is not in a freefall. (CBS)

Stock Index Tracking

Current through 4/3 close. 

Bold means a change from prior day.

The advance/decline line model is now a buy on Thursday’s close. Updated through 4/3 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 -21.34% through last  Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020. 

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 4/3 close. EVL Ranges remain above normal and are highlighted in blue.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

None of note today. A slow week ahead.

Geopolitical:      

President Trump will have lunch with the Vice President at noon.

The Coronavirus Task Force to meet at 6:00 p.m. EDT for their daily press conference with the president leading the call.

$40 billion of 3 Year Treasury Notes will be sold at 1:00 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: RLH IMMU INCY (Conference Call)  (Investor Day)  (Webcast) PLD  ITUB (Update)

Sellside Conferences: Goldman Sachs Cell Therapy Day – ALLO and TCRR.

Industry Conferences: None of note.

M&A Activity

Teledyne Tech (TDY) looking to buy Photonis for $550 million.