Corporate Actions 

IPOs on deck: None of note.

IPOs Filed:  None of note this morning.

Secondaries on deck: ATUS of note.

Notes Priced:  GLPI of note.

Common Stock filings: None of note.

Mixed Shelf Offerings filed:  IIPR of note.

Convertible Offering Files:   None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

CRMT +0.47, ZTO +0.13, NVDA +0.09, AMAT +0.04, VIAV +0.02, GLOB +0.01 of note.

Flat:

None of note.

Missed:DDS (0.82), PAGS (0.01) of note.

Still to Report: none.

News After The Close: (In time order after the close)

Super Micro Computer (SMCI) preannounces Q4, raises revenues. Guides Q1.

General Electric (GE) CEO Larry Culp buys $2 million of stock today.

Stock Repurchase:  of note.

Dividend Increase: MPW of note.

Early Morning Gap Up/Down: (>4% or <-4%)

Gap Higher: NVDA +6%, PAGS +5%.

Gap Lower: DDS -10.7%, GLOB -6%.

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.  Futures are all over the place this morning as early were higher, then lower and now higher again.

U.S. futures: S&P +26  Dow Jones +234  NDX +84  and Russell 2000 +13.10 with fair values mixed with minimal impact on the open. Asia mixed and Europe higher, click through for details by country.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.81 from $130.66 with yields at 1.544% from 1.557%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Thursday: Utilities, Services, Financial and Consumer Goods.

Negative Sectors On Thursday: Conglomerates, Materials and Industrials.

One Month Winners: Conglomerates.

Three Month Winners: Utilities, Healthcare and Consumer Goods.

Six Month Winners: Conglomerates, Utilities, Consumer Goods.Technology and Services.

Twelve Month Winners: Utilities and Technology.

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

Hourly Action This  Week:

Updated through Thursday close. There are four negative hours. The week is a struggle.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close:  None of  note.

Monday Before The Open: EL WB SNA QIWI of note.

Earnings This Morning Of Note  

Beat: 

 QD +0.07 of note.

Flat:  None of note.

Missed:

DE (0.13) of note.

 Yet to Report: .

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

Top News Story: 

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

China is buying soybean from Brazil and not the U.S. (Bloomberg)

Cathay Pacific CEO resigns after being caught in Hong Kong protest. (Bloomberg)

Capital One (COF) staff had concerns about their cyber security unit prior to “the hack”.  (WSJ)

Remarks by President Trump prior heading to New Hampshire yesterday. (White House Press Release)

Hedge Fund Manager Ray Dalio interviewed on CNBC, calls recession probability at 40% in the next two years. (CNBC)

OPEC Monthly Report for August released and takes lower oil demand by 0.04 mb/d.

Data Points

Stocks recovered on Thursday but there was no impact on the impact to the moving averages of the indexes.

Bold means a change from prior day.

The advance/decline line moved to cash on the close of 8/5. Updated through 8/15/19 close. Year to date model up 7.48% on the S&P 500. 3 buy signals and 3 cash signals in 2019. The recent buy lost -1.23%. Cash is working here.

Courtesy of Quantitative Partners, Inc.

YTD  63% (-3% week over week) of stocks are higher and 37% are lower. Updated 8/9/19 close with next update on 8/16/19 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 Thursday’s 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:

July Housing Starts are due out at 8:30 a.m. EDT and are expected to drop to 1,245,000 from 1,253,000.

August University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT an is expected to fall to 97.7 from 98.4.

Geopolitical:

President Trump will be on vacation at Trump National Golf in Bedminster, NJ. 

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls: RGSE (conference call).

Sellside Conferences: None of note.

Industry Conferences: Aspen Renewable Energy Day Summit.

M&A Activity:

Upgrades & Downgrades:

Smart Upgrade of the Day: TJX is recommended as a buy after a drop of -11.45%.