Breaking News: Gilead Sciences (GILD) out with more data on Remdesivir that is positive but only partial.

IPOs Filed: None of note.

IPOs Priced: Nkarta (NKTX) priced at $18 with range of $14 to $16.

Secondaries Priced:  CNTG of note.

Notes Priced of note:  None of note.

Common Stock filings: None of note.

Mixed Shelf Offerings:  ANIP SLP MRNS KBH  of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

PSMT +0.19, WDFC +0.11 of note.

Misses: 

Noneof note.

Hourly Action This Past Week: Updated 7/8 Close

News After The Close (In Order)

NASDAQ sees June U.S. equity options volume was 230 million versus 181 million in May and 132 million a year ago.

Walgreens Boots Alliance (WBA) met with Department of Justice in June over alleged violations at various locations.

United Airlines (UAL) gets a downgrade from a major credit agency over Covid-19.

Federal Reserve balance sheet moves below $7 trillion as bond exposure drops.

Ford (F) may have to shut some factories next week if do not receive engines from Mexico. (Reuters)

IDC reports that PC market grew 11.2% year over year in Q2.

Raises Guidance: IMOS

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.

S&P 500 -5   Dow Jones Industrial Average -67  NASDAQ -10   Russell 2000 +0.28 . Fair values are higher.  Asia lower and Europe mixed to higher. $VIX is higher at 30.04.

Gold, silver and copper higher. WTI Crude Oil lower and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $139.64 from $139.19 with yields at 0.651%.

Positive Sectors On Thursday: Consumer Cyclical and Technology.

Negative Sectors On Thursday: Energy, Industrials and Financials of note.

One Month Winners: Technology. Materials and Consumer Cyclical of note.

Three Month Winners: Consumer Cyclical, Technology and Materials of note.

Six Month Winners:  Technology and Consumer Cyclical of note.

Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.

Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.

Gap Up: MATX +18.1%, GBX +15.1%, SLP +9.9%, ZIOP +7.1%, PSMT +5.8%, IART +3.6%

Gap Down: CNTG -12%, WDFC -4.2%, UAL -3.8%, 

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

Today After The Close: SJR of note.

Monday Before The Open: PEP of note.

Earnings This Morning Of Note

Beat:

GBX +0.91 of note.

Missed:

None of note.

Still to Report: 

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

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

5 Things To Know Before The Market Opens. (CNBC)

Stocks making the biggest moves. (CNBC)

Coronavirus Update: Hong Kong closes schools and India sees cases rise. (CNBC)

U.S. Coronavirus Map.

U.S. sanctions specific Chinese officials over human rights violations in Xinjiang. (CNN)

China to retaliate against U.S. over sanctions on Xinjiang. (CNBC)

Moody’s sees British GDP being crushed in 2020. (Reuters)

California and Florida see Covid-19 cases rise as do hospitalizations. (CNBC)

United Airlines (UAL) and Pilots Union reach a deal on early retirement and furloughs. (CNBC)

Facebook (FB) sees WhatsApp users passing 50 million buisness app users.

Tesla (TSLA) may be added to the S&P 500. (Reuters)

Stock Index Tracking

Current through 7/9 close.

Bold means a change from prior day.

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. Updated through 7/8 close. EVL Ranges  continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App  store at APP(GO).

Courtesy of Phil Erlanger Research, Inc.

Economic

June PPI is due out at 8:30 a.m. EDT and expected to remain at 0.4%.

The latest short interest data for the NYSE and NASDAQ is due out after the close for the period of 6/11 through 6/26. During that period, the S&P 500 rose 0.23%.

Geopolitical & Related

President Trump will head to Florida and arrive at U.S. Southern Command where he receives a briefing at 12:35 from SOUTHCOM Enhanced Counternarcotics Operations. Then he moves on to the Iglesia Doral Jesus Worship Center at 2:10 where he will  participate in a roundtable on Supporting the People of Venezuela. Then the president will attend a fundraiser at Hillsboro Beach at 4:55 p.m. EDT before heading back to Washington D.C. later in the evening.

Meetings, Calls & Conferences

CRM YCBD   (Webcast) CUK CCL (Investor Call) 

Sellside Conferences: Piper Sandler’s “It’s Friday: State of Cloud” Virtual Event 2020 (7/10).

Industry Conferences: International AIDS Conference (7/6-7/10)

M&A

Upgrades & Downgrades

Updated Through 8:55 a.m. EDT.