Corporate Actions

IPOs on deck for Today: None of note.

Secondaries on deck for Today:None of note.

Notes Priced: None of note.

Common Stock filings: RMNI SOLY NTGN EPRT

Mixed Shelf Offerings filed: APTX AVRO FTSV

Convertible Offering Files: 

Courtesy of IPO Financial

Earnings After The Close:

Beat:None of note.

Flat:None of note.

Missed:None of note.

News After The Close:

Highwoods Property (HIW) announces that CEO Ed Fritsch will retire on September 1st with COO Ted Klinck to assume the role of CEO.

Spirit Realty Capital (SRC) to join the S&P MidCap 400 and SM Energy (SM) to join the S&P Small Cap next Tuesday.

Dividend Increases: OZK USPH

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

U.S. futures: S&P -3.08, Dow Jones -38, NDX -15  and Russell 2000 -2.66 with fair values higher.  Asia  and Europe mostly higher, click through for details by country.

Gold higher with silver lower with copper lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury price $127.80 from $127.18  with yields at 2.02% from 2.09%. Prices as of 8:25 a.m. EDT.

Top Sectors Monday:  Technology, Services and Consumer Goods.

Weakest Sectors Monday: Utilities and Conglomerates.

One Month Winners: Healthcare, Industrials and Materials.

Three Month Winners:  Industrials, Services, Financials and Consumer Goods.

Six Month Winners: Conglomerates, Industrials, Services and Techology.

Twelve Month Winners: Utilities, Healthcare, Industrials and Services.

Year to Date: All higher led by Conglomerates, Services, Industrials, Technology and Consumer Goods.

Hourly Action This  Week:

Last week we  saw selling in 4 hours. . Updated through Friday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: None of note.

Wednesday Before The Open: .  

Earnings This Morning Of Note 

Beat: SMPL +0.02 of note.

Flat: None of note.

Missed: GBX (0.06) of note.

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

Top News Story:  U.S. threatens $4 billion of new tariffs on Europe. (CNN)

Five Things You Need To Know To Start Your Day  (Bloomberg)

China has conducted anti ship ballistic missile testing in the South China Sea. (CNBC)

20 Pharmaceuticals have increases on 40 drugs. (WSJ)

Data Points

All indexes remain above their moving averages.

Bold means a change from prior day.

The advance/decline line has improved dramatically and moved to a buy on 6/13. Updated through 6/28/19 close. The buy remains intact.

The QPI10 Day Moving Average of Breadth (10DMA) is no longer in cash and moved to invested on 6/13/19.

Courtesy of Quantitative Partners, Inc.

YTD  71% (+2% week over week) of stocks are higher and 29% are lower. Updated 6/28/19 close with next update on 7/5/19 close.

Courtesy of Phil Erlanger Research, Inc.

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 Friday close.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS CS:ERLA

Economic & Related:

June Auto and Truck Sales are due out at 2:00 P.M. EDT and came in last month at 3.52 million and 9.92 million respectively.

Weekly API Petroleum Data is due out after the close at 4:30 p.m. EDT.

Geopolitical:

President Trump has no public events scheduled for today.

Federal Reserve New York President John Williams spoke at 6:35 a.m. EDT this morning.

The Reserve Bank of Australia (RBA) is out with its latest interest rate decision and cut rates to 1%.

Conferences & Analyst Meetings:  

Analyst Meetings/Notable Conference Call:  GRAM (investor or analyst day) JAZZ CYAD (conference call)

Sellside Conferences:  None of note.

Industry Conferences:  

M&A Activity

Upgrades & Downgrades:

Early Morning Gap Up/Down:

Gap Higher: AMRN +11%, CYAD +10%.

Gap Lower: OCX -17%, GBX -9%.