CAPIS Morning Note – 9/22/20 Stocks Rebound After S&P 500 Drops 4 Days In A Row

Thought of the Day- The S&P 500 dropped its fourth day in a row. It is the longest drop since the March low. The prior record was three down days in a row on the S&P 500. Covid-19 Update With Latest Data From Friday & Monday Total Cases 6,810,128 from 6,641,341 Recovered: 2,615,949 from 2,540,334…

Thought of the Day- The S&P 500 dropped its fourth day in a row. It is the longest drop since the March low. The prior record was three down days in a row on the S&P 500.

Covid-19 Update With Latest Data From Friday & Monday

Total Cases 6,810,128 from 6,641,341

Recovered: 2,615,949 from 2,540,334

Deaths 191,920 from 189,665

Cases reported 39,467 from 37,291

Tests 719,685 from 897,096

Deaths 901 from 324

Hospitalizations 29,501 from 28,615

source COVID tracking project

Capital Raises

IPOs Priced: None of note. 

Secondaries Priced: None of note.

Notes Priced of note:  None of note.

Common Stock filings: ADCT KC ACEL UTZ of note. Selling Shareholders of note: ADCT KC ACEL UTZ.

Mixed Shelf Offerings: EHC TPIC of note.

Convertible Offering Files:OMCL SEDGof note.

Senior Notes Filed: None of note.

Earnings After The Close:


None of note.


None of note.

Hourly Action–  . Updated 9/17 close.

News After The Close:

Federal Reserve Chairman Powell releases testimony before Committee Parsons (PSN) gets three task orders totaling $69 million from Air Force.on Financial Services, U.S. House of Representatives on 9/22/20

Index Changes: Fulgent Genetics (FLGT) to join S&P 600 effective open on 9/25.

U.K. Covid-19 Alert is raised to 4 from 3. (Guardian)

Raises Guidance: KFRC 

Lowers Guidance: RMAX

Stock Repurchase: FBHS

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

S&P 500 +10 Dow Jones Industrial Average +5 NASDAQ +87  Russell 2000 +8.05. Fair values are lower. Asia lower Ex Japan  and Europe higher. VIX October futures are at 31.06 from 31.30 this morning. Current VIX is at 27.55 from 25.83.

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 $139.52 from $139.63 with yields at 0.669% from 0.656%.

Positive Sectors On Monday: Technology of note.

Negative Sectors On Monday: Materials, Real Estate and Industrials of note.

One Month Winners: Real Estate, Consumer Cyclical and Industrials of note.

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

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

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

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

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

Today After The Close: NKE KBH SFIX SCS ACB ANAB HTZ of note.

Wednesday Morning: GIS CTAS WOR JKS of note.

Gap Up: GME +13% FLGT +10% SAVA +10% 

Gap Down: SNCR -6% TSLA -4%

Earnings This Morning Of Note


AZO +8.21 of note.


None of note.

Erlanger Research Advance/Decline Line Table– The trend is pretty obvious. Will today be the low? 9/21 close.

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 9/21 close. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial.

Courtesy of Phil Erlanger Research Inc.

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

Stocks Making The Biggest Moves.(CNBC)

5 Things To Know Ahead of Today’s Trading.(CNBC)

Corona Virus Update: Europe tightens as England extends to March.(CNBC)

U.K. Prime Minister Boris Johnson announces new Covid-19 restrictions, not a lockdown but close. (NYT)

China may release a list of U.S. blacklisted companies. Leaders there divided on this action. (WSJ)

Republicans upset over latest funding bill as omits $30 billion to farm aid. (The Washington Post)

Republicans may have the votes on new Supreme Court Justice. (NYT)

Dr. Scott Gottlieb notes the U.S. will not see lockdowns but mitigations more targeted. (CNBC)

STORE Capital (STOR) sees September rent collections at 88%.

Muddy Waters slams Nano-X (NNOX) in short report, stock falls 10%.

DisneyLand (DIS) in Hong Kong to open on Friday. (Reuters)

Stock Index Trading

Current through 9/21 close. Deterioration continues with only break left is the 200 day moving average.

Bold means a change from prior day.


August Existing Home Sales are due out at 10:00 a.m. EDT and is expected to rise to 6 million from 5.86 million.

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

Geopolitical & Related

President Trump will be interviewed by Fox Detroit at 10:30 p.m. EDT. Then at 12:00 p.m. EDT receive his intelligence briefing. Last the president heads to Pittsburgh to deliver a campaign speech at 7:00 p.m. EDT. Then at 8:00 p.m. EDT the president gives an interview with Joe Donlon of WGN America.

The United Nations begins its fall session.

Federal Reserve Chairman Jerome Powell testifies before the House at 10:30 a.m. EDT as does Treasury Secretary Steven Mnuchin.

Federal Reserve Richmond President Tom Barkin speaks at 12:00 p.m. EDT.

The U.S. Treasury auctions $52 billion of 2 year Treasury Notes.

Federal Reserve Atlanta President Raphael Bostic speaks at 3:00 p.m. EDT.

Investor Events & Conference Calls

TSLA HUBS (Investor Day)  CYDY TSKFF SAMAU (Webcast)

Sellside Conferences: Oppenheimer Fall Virtual Healthcare Life Sciences & MedTech Summit (9/21-9/23) Stephens Annual Bank CEO Conference (9/21-9/24) Raymond James Parkc City Telecom Summit (9/21-9/22) D.A. Davidson Annual Diversified Industrials and Services Conference (9/22-9/23) Bank of America Annual Financials CEO Conference (9/22-9/24) BMO Digitial Banking Summit (9/22-9/23) RBC Capital Markets Energy Infrastructure Fixed Income Conferene (9/22) RBC Capital Markets The E&C Perspective: The Road To Recovery Post COVID-19 (9/22)  JP Morgan Emerging Markets Credit Conference (9/22-9/24) Credit Suisse China Autos Corporate Day (9/22-9/23) Bank of America Industrial IoT & Automation Summit (9/22)

Industry Conferences: ESMO Virtual Congress 2020 European Society for Medical Oncology (9/17-9/21) Denver Gold Annual Forum (9/20-9/23)


Upgrades & Downgrades For Tuesday 9/22