Breaking News: The next presidential debate in Miami on October 15th will be remote due to President Trump’s condition. President Trump says he will not participate in a virtual debate. Instead will hold a rally.

Market Tone: Stocks rebounded nicely yesterday but is still below its September peak by 161 points.

Covid-19 Update With Latest Data From Wednesday 

Total Cases 7,511,236 from 7,460,634

Recovered: 2,999,895 from 2,952,390

Deaths 203,591 from 202,675

New Cases 50,602 from 38,696

Tests 850,784 from 815,372

Deaths 916 from 741

Current Hospitalizations 32,124 from 31,346

source COVID tracking project

Capital Raises

IPOs Priced: AZIYO Biologics (AZYO) priced at $17 with range of $16 to $18.

Secondaries Priced:  NSTG  SWTX FUBO of note.

Notes Priced of note: None of note.

Common Stock filings:  LAND GLYC  of note.

Selling Shareholders of note: NCNO

Mixed Shelf Offerings: VLRS of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

RGP (+0.09) of note.

Misses:

None of note.

News After The Close:

ICF International (ICFI) wins two contracts from HHS up to $125 million.

Costco (COST) saw September Sales rise 16.9%.

Federal Reserve announces enforcement action against Citigroup (C) for gaps in risk management.

Lockheed Martin (LMT) Qatar to buy F-35 fighter jets.

Dividend Increase: SAR  AUY MCD

Dividend Suspended: 

Reinstates Or Initiates Buybacks: GWRE 

Guides Higher: CDNA ATEC 

Stock Split:

Insider Sales: PAYC PFPT

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

S&P 500 +18  Dow Jones Industrial Average +193 NASDAQ +74  Russell 2000 +21 . Fair values are mixed.  Asia mixed and Europe higher. Current VIX is at 28.06  from 29.48. 3 month VIX Future is at 30.70 from 31.88.

Gold and silver higher with copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $138.94 from $138.80 with yields at   0.773 % .

Positive Sectors On Wednesday:  Consumer Cyclical, Materials and Technology of note.

Negative Sectors On Wednesday: None of note. Real Estate was up only 0.08%.

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:  RGP of note.

Thursday Morning:  DAL DPZ HELE AZZ AYI of note.

Gap Up:  

ATEC +26%, CDNA +14%, UMC +7%, COTY +6%, IBM +5%, FUBO +5%, REGN +5%, SAR +4%, BV +4%, HELE +4% of note.

Gap Down:

RGP -6%, LAND -5%, GLYC -5%, of note.

Earnings This Morning Of Note

Beat:

HELE +1.45, DPZ +0.07 of note.

Missed:

None of note.

Still To Report: AYI CCL

Erlanger Research Advance/Decline Line Chart –  Updated 10/7.

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

Stocks Making The Biggest Moves –  IBM EV MS DPZ  COTY (CNBC)

5 Things To Know Before The Market Opens Today. (CNBC)

Corona Virus Update:Regeneron (REGN) files for Emergency Use Authorization. (CNBC)

President Trump interviewed on Fox Business at 8:00 a.m. EDT.

House Speaker Nancy Pelosi  will be interviewed on Bloomberg’s Balance of Power with David Weston mid day.

Summary of last night’s Vice Presidential Debate. (CNBC)

Stock Index Trading

Current through 10/7 close. All indexes now positive.

Bold means a change from prior day.

Economic

Weekly MBA Mortgage Applications came out yesterday at 7:00 a.m. EDT and grew at 4.6%. (Somehow we missed this stat but wanted you to see)

NFIB Small Business Optimism Index came out at 6:00 a.m. EDT and came out at from last month at 98.8.

Weekly Jobless Claims were out at 8:30 a.m. EDT and came in at 840,00 which was above estimates.

Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.

Geopolitical & Related

President Trump is resting this morning from The White House.

Auction of $23 billion of 30 Year Treasuries.

Investor Meetings & Conferences

DPW MRVL  (Investor Day) PRTH ALB  (Fireside Chats) CCL (Update)  (Webinar)

Sellside Conferences: Credit Suisse Agribusiness & Foods Week (10/5-10/9) UBS Premier Hedge Fund Virtual Conference (10/7-10/9) Jefferies Cannabis Summit (10/7-10/8) Goldman Sachs Vaccine Discussion (10/8) BMO Canadian High Yield Conference (10/8)

Industry Conferences: Jeep Grand Cherokee Summit Series 2020 (10/2- 10/18)

M&A

Morgan Stanley (MS) to buy Eaton Vance (EV) for $ 56.50.

Dun & Bradstreet (DNB) to buy Bisnode for $818 million.

IBM to spinoff managed  infrastructure services unit.

Upgrades & Downgrades For Thursday – 10/8