Interesting Fact Of the Day: Walt Disney’s (DIS) Avengers: Endgame  brought in $1.2 billion globally the first movie to exceed  $1.o billion in a weekend. It set multiple other records.

Corporate Actions

IPOs on deck for This Week: 7 IPOs due this week. Hottest deals for the week are Beyond Meat (BYND) and TransMedics Group (TMDX).

IPOs on deck for Today: None of note.

Secondaries on deck: None of note.

Notes Priced:

IPO Filings Announced After The Close:

Other Filings of Note:  CLF files senior notes.  BG VGR files mixed shelf offering. files common offering.

Courtesy of IPO Financial

Earnings After The Close:

Beat: None of note.

Flat: None of note.

Missed: None of note.

Still To Report:

Dividend Increases: ARLP USDP COST DKL KRP 

Stock Repurchases: NRIM COST CRH

News After The Close:

Major ratings agency downgrades Italy and note that s that reform reversals and volatile external demand have pushed the country into a recession.

Major ratings agency leaves the United Kingdom with a negative outlook due to Brexit.

Hourly Action This Past Week:

Courtesy of Quantitative Partners, Inc.

What’s Happening This Morning: Futures on the S&P 500 rose modestly until 4:00 a.m. EDT and are now are slightly lower.

U.S. futures: S&P -2, Dow Jones -21, NDX -5.5 and Russell 2000 -0.10 with fair values HIGHER ADDING TO LOSSES.  Asia and Europe mixed, click through for details by country.

Gold lower, silver higher and copper lower. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price $123.63 from $123.48 with yields lower since Friday morning with the yield at 2.509% from 2.529%. Prices as of 8:35 a.m. EDT.

Top Sectors Friday: Healthcare, Consumer Goods, Industrials and Financials.

Weakest Sectors Friday: Materials.

One Month Winners: Services, Technology, Financials and Industrials.

Three Month Winners:  Technology, Consumer Goods and Services.

Six Month Winners: Technology, Services, Industrials and Utilities.

Twelve Month Winners: Services, Utilities, Conglomerates, Healthcare and Consumer Goods.

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

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

Today After The Close: GOOGL CNI NXPI SBAC CLR YUMC WDC ARE MGM VNO CGNX RGA CACC MOH LOGI NBIX WWD LEG of note.

Tuesday Before The Open: MA PFE MRK BP MCD LLY GE CHTR COP SPG GM ECL PSX HCA ETN FIS WELL GLW IR KKR  BHGE of note.

Earnings This Morning Of Note 

Beat: ARLP +1.42, L +0.31, CYOU +0.19, AWI +0.16, KMPR +0.12, NSP +0.10, CNA +0.09, SOHU +0.08, CADE +0.08, DO +0.06, ON +0.04.

 Flat:

Missed: VNE (0.39), SPOT (0.35), DORM (0.21), MDR (0.08), CTB (0.05), QSR (0.03), SOGO (0.01), OPB (0.01).

Still To Report:  MCY, PHG, SALT, SILC.

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

Top Story: Federal Reserve to meet this week with rate decision on Wednesday at 2:00 p.m. EDT. (CNBC)

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

Both Republicans and Democrats want changes to the USMCA. (WSJ)

U.S. Treasury Secretary Mnuchin repeats that U.S. and China are close to a deal but more work ahead. (NYT)

Trump Administration will stop administering multi-state insurance plans in the Affordable Care Act. (Axios)

Treasury Secretary Mnuchin interviewed on Fox Business this morning. (Fox Business News)

Walt Disney (DIS) Avengers:Endgame brought in $1.2 billion globally. (Fox)

Boeing (BA) waited until after Lion Air crash to let Southwest Airlines (LUV) know that the safety alert was turned off on the 737 Max. (CNBC)

Data Points

We are changing the comments on the various moving averages to a table. Some minor breaks yesterday.

Yesterday saw 1917 stocks rise and 924 fall on the NYSE. NASDAQ saw 2086 rise and 990 fall.

There are now 5 down days for the month with 2 days to go in April and last losing streak of more than three days ended back on March 8th. (Twitter: Bullet86)

The QPI10 Day Moving Average of Breadth (10DMA) is invested on the open from cash Friday morning 3/22 at 2854.88. For a move from  cash to buy, the 10DMA needed to have two days in row above +200. We remain with a buy as our 10 day moving average remains above -200 but we not yesterday it turned negative. Could a turn be forthcoming net week?

Courtesy of Quantitative Partners, Inc.

YTD 78% (-2% week over week) of stocks are higher and 22% are lower. Updated 4/19/19 close with next update on 4/26/19 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.

Friday was a strong day. The week was a positive one with a confidence score of 60%.

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:

March Personal Income is due out at 8:30 a.m. EDT and are expected to rise to 0.4% from 0.2%.

February PCE Price Index and Core PCE Index are due out at 8:30 a.m. EDT and the PCE Price Index is expected to have risen 1.4% year over year, in line with January while the Core PCE Index is at 1.9% in line with January. This is the top economic indicator the Fed tracks so it take on added significant post Friday’s strong Q1 GDP number.

Geopolitical: 

President Trump has a quiet day as meets with the Vice President for lunch and then welcome the Baylor Lady Bears to the White House as they won the women’s NCAA basketball tournament.

Conferences & Analyst Meetings: 

Analyst Meetings/Notable Conference Call: None of note.

Sellside Conferences: None of note.

Industry Conferences: Association for Research in Vision and Ophthalmology Annual Meeting. American Society of Gene & Cell Therapy Annual Meeting.

M&A Activity

Ingersoll-Rand (IR) close to buying Gardner Denver (GDI) per WSJ.

Anadarko Petroleum (APC) to begin talks with Occidental Petroleum (OXY) over their counter bid to Chevron (CVX).

Generac (GNRC) to buy Pika Energy, no terms.

Parket Hannifin (PH) to buy LORD Corporation, privately held, for $3.675 billion in cash.

Upgrades & Downgrades

Pre-Market Movers:

Winners: CYOU +8%, NBRV +7%, SOHU +6%, GOGL +5%. 

Losers: MOMO -8%.