CAPIS Morning Note -9/30/19 Treasury Notes There Is No Planned Delisting of Chinese Companies
Must See TV- White House Advisor Peter Navarro interviewed on CNBC in the past few minutes. NY Federal Reserve Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve conducted open market operations and took $ billion. Corporate Actions IPOs on deck: None of note. IPOs Filed: None filed after the close. Secondaries on deck: None of note….
Must See TV- White House Advisor Peter Navarro interviewed on CNBC in the past few minutes.
NY Federal Reserve Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve conducted open market operations and took $ billion.
Corporate Actions
IPOs on deck: None of note.
IPOs Filed: None filed after the close.
Secondaries on deck: None of note.
Notes Priced: None of note.
Common Stock filings: None of note.
Mixed Shelf Offerings filed: ODT of note.
Convertible Offering Files:None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
Beat:
None of note.
Missed:
None of note
News After The Close: (In time order after the close)
Fitch keeps Poland at A- and upgrades Serbia to BB+ from BB.
Major credit agency affirms Saudi Arabia ratings.
Three House Committees have subpoenaed Secretary of State Mike Pompeo.
Contract win for Boeing (BA) with Air Force for $2.6 billion.
Contract win for Fluor (FLR) with Navy for $1.1 billion.
Contract win for Hawaiian Electric (HE) with Defense Logistics Agency for $640 million.
Contract win for Northrop Grumman(NOC) with Air Force for $1.4 billion.
Barron’s positive on Slack (WORK), American Airlines (AAL), Google (GOOGL) Wells Fargo (WFC).
Stock Repurchase: GCO
Dividend Increase: HOLI
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: NWL +4%, BBBY +4%
Gap Lower: IMMU -6%, EGHT -5%
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +8.50 Dow Jones Industrial Average +66 NASDAQ +31 Russell 2000 +3.8. Fair values are mixed. Asia mixed and Europe higher.
Gold and silver lower while copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.19 from $130.03 with yields at 1.697% from 1.705%. Prices as of 8:25 a.m. EDT.
Positive Sectors On Friday: Basic Materials and Energy.
Negative Sectors On Friday: Technology, Conglomerates, Services and Healthcare.
One Month Winners: Industrials, Consumer Goods, Services and Financials.
Three Month Winners: Conglomerates, Consumer Goods, Technology, Services and Utilities.
Six Month Winners: Consumer Goods, Industrials, Conglomerates and Services.
Twelve Month Winners: Utilities, Technology, Consumer Goods and Conglomerates.
Year to Date: Conglomerates, Technology, Services, Consumer Goods and Industrials.
Hourly Action This Week:
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.
Tuesday Before The Open: MKC of note.
Earnings This Morning Of Note
Beat:
THI +0.21 of note.
Missed:
None of note.
Flat:
CALM
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top Story: Treasury notes no plans to stop Chinese companies from listing on U.S. exchanges at this time. (Bloomberg)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know Before The Market Opens Today. (CNBC)
Stocks on the move. (CNBC)
Saudi Crown Prince said he did not order killing of journalist Jamal Khashoggi. (CNN)
Hong Kong protest turned violent again. (WSJ)
Whistleblower to testify soon according to House Intelligence Chairman Adam Schiff. (ABC News)
China Manufacturing PMI contracted for 5th straight month. (FT)
Forever21 files for bankruptcy. (Bloomberg)
Data Points
Stock indexes lost more ground on Friday.
Bold means a change from prior day.
The advance/decline line moved to a buy on the close of 8/29. Updated through 9/27/19 close. Year to date model up 8.73% on the S&P 500. 4 buy signals and 3 cash signals in 2019. The model moves back to cash this morning with a gain of 1.28%.
YTD 66% (-1% week over week) of stocks are higher and 34% are lower. Updated 9/20/19 close with next update on 9/30/19 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’s close.
Courtesy of Phil Erlanger Research
The Value Lines may be accessed via Bloomberg. For a free trial if you ar a Bloomberg user go to APPS CS:ERLA
Economic & Related:
September Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 50.8 from 50.4.
Geopolitical:
President Trump will welcome the new Chairman of the Joint Chiefs of Staff, have lunch with the Vice President and meet with the Secretary of State.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: CYDY IMGN (Conference Call) HCM (Update)
Sellside Conferences: None of note today.
Industry Conferences: European Society for Medical Clinical Oncology (9/27-10/1). European Respiratory Society International Congress. European Society 0f Intensive Care Medicine.
M&A Activity:
Sweden’s Orphan Biovitrum to buy Dova Pharmaceutical (DOVA) for $27.50.
NextEra Energy Partners (NEP) to buy Meade Pipeline Co for $1.37 billion.
Upgrades & Downgrades:
