CAPIS Morning Note – 9/17/21: Stocks Modestly Lower, Quadruple Witching Today

Overnight Summary- Global market are mixed as Asia modestly higher while Europe stronger.  Breaking News – None of note BUT at 10:00 a.m. Consumer Sentiment from the University of Michigan will set the tone for the rest of the day. Remember today is quadruple witching so could be a volatile afternoon. Earnings Out After The…

Overnight Summary- Global market are mixed as Asia modestly higher while Europe stronger. 

Breaking News – None of note BUT at 10:00 a.m. Consumer Sentiment from the University of Michigan will set the tone for the rest of the day. Remember today is quadruple witching so could be a volatile afternoon.

Earnings Out After The Close

Beats: None

Flat: None

Misses: None

Capital Raises: 

IPOs Priced or News: 

New SPACs launched: 

Secondaries Priced: LSI  of note.

Notes Priced of note: HTGC JCI  of note.

Common Stock filings: None of note.

Selling Shareholders of note: None of note.

Private Placement of Public Entity (PIPE): GRTS of note.

Mixed Shelf Offerings: RE of note.

Convertible Offering & Notes Filed:  None of note.

Note Offerings Filed: None of note.

Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.

News After The Close:

Abcellera (ABCL) get Emergency Use Authorization by FDA to include Post-Exposure Prophylaxis for prevention of Covid-19.

U.S. Steel (X) to potentially build a new mini mill at cost of $3 billion.

Key Story Afterhours: Higher: and Lower: 

Dividend Increases: SKT WPC 

Stock Split: INMD

Higher Guidance:  (After the Close) of note (This Morning)  of note

Mixed Guidance:(After The Close)  of note  (This Morning) of note

Lower Guidance:(After The Close) USNA of note (This Morning)  of note

Buyback Announcements: FANG USNA MEOH ZUMZ 

What’s Happening This Morning: Futures value reflects the change with fair value.

S&P 500 -3 Dow Jones Industrial Average -12 NASDAQ -3  Russell 2000 -1.31 . Fair values are mixed. Asia and Europe higher. VIX is at 20.70 from 21.11  in futures  from yesterday. Gold, silver and  copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and flat vs Yen. US 10 year Treasury price is at $133 from $133.27 with yields at 1.34% from  1.309%  yesterday morning. Bitcoin at $47,394 from $47,824 yesterday morning, trading at $-256 or -0.54%.

Thursday’s Action – 9/16 Close.  

Positive Sectors Thursday: Consumer Cyclicals, Technology and Real Estate of note.

Negative Sectors  Thursday: Materials, Energy and Utilities of note.

One Month Winners: Technology, Communication Services, Real Estate and Energy of note.

Three Month Winners: Technology, Communication Services and Healthcare of note.

Six Month Winners: Technology, Communication Services and Real Estate of note.

Twelve Month Winners: Communication Services, Energy, Technology, Financials and Industrials of note.

Year to Date: Energy, Communication Services, Energy, Financials, Real Estate and Technology of note.

Stocks were lower ex NASDAQ indexes, Bonds were lower, U.S. Dollar higher and Commodities mostly lower. Updated 9/16 Close.

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: None of note.

Monday Before the Open: CGNT of note.

Earnings of Note This Morning:

Beats: None

Flat: None

Misses: MANU (0.06)

Still to Report: None

Erlanger Research Advance/Decline Chart –Updated through 9/16 close. The Daily A/D Line continues to struggle and is well below its August and September highs.

Gap Ups & Down In Early Pre-Market:

Gap up: ABCL +16%, BPTS +5%, AGEN +5%, FANG +4%, ZUMZ +3%

Gap down: USNA -3%

Insider Action: Of note GCI MYOV SSTI see Insider buying with Dumb short selling. 9/17/21

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

Stocks making the biggest moves IVZ TTWO MANU CPNG    (CNBC)

Overnight Repo comes in at $1.118 trillion in yesterday’s late afternoon report.

Covid-19 Data sees +155,882 from +141,644  cases. Deaths at 1,942 from 1,020 deaths. Hospitalizations 92,646 from 92,545. Through 9/16.

FDA Meets on Boosters at 1:00 p.m. EDT. (NYT)

President Biden fails to convince Senator Joe Manchin (D-WV) to vote for $3.5 trillion Budget Reconciliation Bill. (Axios)

General Motors (GM) to extend idling of plants due to semiconductor shortage. (WSJ)

Big box stores expect strong holiday sales. (WSJ)

Rumor that Invesco (IVZ) to merger with State Street (STT) (WSJ)

United Airlines (UAL) faced delays this morning amid a ground stop, now resolved.

Moving Average Update

Score at 57% from 53%. Updated 9/16 Close.

Geopolitical:

The President reconvenes the Major Economies Forum on Energy and Climate to galvanize efforts to confront the global climate crisis, 8:30 a.m. EST

The President receives the President’s Daily Brief, 10:00 a.m. EST

Press Briefing by White House COVID-19 Response Team and public health officials, 11:45 a.m. EST

The President departs Joint Base Andrews en route Dover, Delaware, 12:20 p.m. EST

The President arrives in Dover, Delaware, 12:55 p.m. EST

The President arrives in Rehoboth Beach, Delaware, 1:25 p.m. EST 

Fed Speakers:

None of note for today or this week but that is subject to change.

Economic:

September University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and expected to rise to 72 from 70.30

M&A Activity:

Meeting & Conferences of Note:

Sellside Conferences: UBS Best of Switzerland Conference (9/14-17) Bank of America Global Healthcare Conference (9/15-17) Citi International Emerging Restaurant Forum (9/17)

Company Meetings: ECOM TMO MOH  (Investor Meetings) LPTX (Conference Call) 

Conferences of Note: International Parkinson and Movement Disorder Society Annual Congress (9/17-22)

Upgrades & Downgrades: Today recs see 1 notable upgrade and 7downgrades.