CAPIS Morning Note – 7/27/20 Gold On Fire And Bitcoin Joins The Action, Futures Higher On Stocks
Covid-19 Stats For Sunday: Reported Cases yesterday: 61,713 from 71,027. Tests 855.811 from 774,193 Positivity Rate: 7.21% from 9.17% Deaths 558 from 1,039 Current Hospitalizations 58.614 from 59,363 source COVID tracking project IPOs Priced: None of note. Secondaries Priced: None of note. Notes Priced of note: None of note. Common Stock filings: MC WIMI of note. Mixed Shelf Offerings: RC…
Covid-19 Stats For Sunday:
Reported Cases yesterday: 61,713 from 71,027.
Tests 855.811 from 774,193
Positivity Rate: 7.21% from 9.17%
Deaths 558 from 1,039
Current Hospitalizations 58.614 from 59,363
source COVID tracking project
IPOs Priced: None of note.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: MC WIMI of note.
Mixed Shelf Offerings: RC of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note.
Latest Short Interest Data – Sorted by Short Intensity (short selling remains low) only one sector increased.
News After The Close:
Fitch affirms Greece and Czech Republic ratings at BB and AA-.
The other rating agency takes Slovakia to negative and Sicily to stable.
Barron’s + on NKLA WKHS NVS CRSP GBT BLUE ABIO EDIT SGMO BEAM NTLA EMMA MCD and cautious on APD PLUG CMI BLDP BE.
Hurricane Hanna made landshore in Texas over the weekend and Hawaii had a rare hurricane as well.
Raises Guidance Raised:
Cut Dividend: MAC
Stock Split Announcement:
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 + Dow Jones Industrial Average + NASDAQ + Russell 2000 +. Fair values are higher except for the Russell 2000 that is +. Asia mixed and Europe higher. VIX is at 2 from 27.10 yesterday morning.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $139.67 from $139.56 with yields at 0.595%.
Positive Sectors On Friday: Materials of note.
Negative Sectors On Friday: All others of note led by Healthcare, Technology and Industrials.
One Month Winners: Materials, Consumer Cyclical and Technology of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology,Consumer Cyclical and Healthcare 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: MNOV +34%, TCRR +30%, AERI +14%, IAG +11%, MRNA +8%, ABCB +8%, AUY +7%, SLV +7%, GSS +6%, GDX +5%, GOLD +4%
Gap Down: WIMI -8%, SLDB -5%
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: NXPI ARE BRO CINF PFG FFIV UHS AGNC of note.
Tomorrow Morning: PFE MCD RTX MMM SPGI MO ECL SHW ROP CNC MSCI CMI ROK EDU of note.
Earnings This Morning Of Note
LECO +0.45, AVY +0.15, RPM +0.14, CBU +0.10, BOH +0.08, SAP +0.03, AMG +0.03, ABCB +0.01 of note.
PPBI (1.44), HAS (0.21), EQT (0.04) of note.
Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy. Close 7/24. Stocks struggled again on Friday.
Courtesy of Phil Erlanger Research Inc.
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: Moderna get more funding, WHO deems the virus “most severe” (CNBC)
Moderna (MRNA) begins a study with 30,000 people, results in October/November. (CNBC)
Senate Majority Leader McConnell notes that the next stimulus plan could take a few weeks. (The Washington Post)
Treasury Secretary Mnuchin notes that the GOP stimulus plan will be out this week. (Fox News)
Many New York City office towers are empty raising viability of real estate and the city itself. (NYT)
Democratic Presidential Candidate Joe Biden support decriminalization of marijuana. (NJ.Com)
Gold prices hit a record this morning as moves from $1800 to above $1900 in a week. (CNBC)
Bitcoin moves above $10,000 for the first time since June. (CNBC)
Stock Index Trading
Current through 7/24 close. Indexes moved below some key moving averages.
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 7/23 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.
June Durable Goods are due out at 9:15 a.m. EDT and are expected to rise by 6.4% but lower than last month’s 15.8%.
Geopolitical & Related
President Trump will meet with the Walking Marine at 11:00 a.m. EDT and then departs to Raleigh, NC to visit the BioProcess Innovation Center at Fujifilm Diosynth Biotechnologies.
$48 billion 2 Year Note at 1:00 p.m. EDT.
$49 billion 5 Year Note at 1:00 p.m. EDT.
Meetings, Calls & Conferences
CYDY (Business Update on Covid -19 trials at 4:30 p.m. EDT) KOD (webcast) BLK (Fireside Chat).
Industry Conferences: Alzheimer’s International Conference (7/27-7/31)
Upgrades & Downgrades –
Updated Through 8:45 a.m. EDT.