IPO News: We Company (We) amends IPO prospectus.
IPOs on deck: SpringWorks Therapeutics (SWTX), Satsuma Pharma (STSA), Experience Investment Unit (EXCPU) as well Cloudflare (NET) of note.
IPOs Filed: None filed after the close.
Secondaries on deck: ALRS MCF of note.
Notes Priced: UBER HSKA RH BEST of note.
Common Stock filings: ERII CDXC of note.
Mixed Shelf Offerings filed: ERII of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
AVGO +0.03 of note.
None of note
News After The Close: (In time order after the close)
Alaska Air (ALK) saw August traffic up 4.6%.
MDC Holdings (MDC) sees new home orders up 63%.
Park Hotels & Resorts (PK) to join S&P 400 and Inogen (INGN) to join S&P 600.
Stock Repurchase: BKU
Dividend Increase: VICI
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: VNCE +22%, CPRX +10%, +7%, MDLA +5%, VRAY +5%, PK +4%.
Gap Lower: PCYG -15%, ERII -12%, ARDX -6%
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +9 Dow Jones Industrial Average +109 NASDAQ +26 Russell 2000 +1. Fair values are higher except for the Russell 2000. Asia mostly higher. Europe mixed.
Gold, silver and copper higher. WTI Crude Oil lower 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 $129.42 from $130.17 with yields at 1.78% from 1.688%. Prices as of 8:45 a.m. EDT.
Positive Sectors On Thursday:Financials, Consumer and Services.
Negative Sectors On Thursday: Healthcare and materials.
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 Thursday close.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Monday Before The Open: None of note.
Earnings This Morning Of Note
None of note.
None of note.
Yet to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Wall Street Journal Main Headline: China Seeks to Narrow Talks With U.S. to Ease Trade Rift
Top Story of the Day: Could Prime Day in July result in negative August Retail Sales. (CNBC)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Vietnam Central Bank cut interest rates. (Bloomberg)
Democratic Debate transcript. (ABC Transcript)
Stock indexes are in good shape.
Bold means a change from prior day.
The advance/decline line moved to a buy on the close of 8/29. Updated through 9/10/19 close. Year to date model up 10.36% on the S&P 500. 4 buy signals and 3 cash signals in 2019. Cash has worked in August as we missed the volatility and now we are back to a buy.
YTD 61.26% (+1.59% week over week) of stocks are higher and 38.33% are lower. Updated 9/9/19 close with next update on 9/13/19 close.
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 Thursday’s close.
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:
August Retail Sales are due out at 8:30 a.m. EDT and expected to fall to 0.2% from 0.8%.
September University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and expected to rise to 90.2 from 89.8.
President Trump will have a quiet day as receives his intelligence briefing and then in the afternoon meets with the Secretary of Defense.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: (investor day) XERS ATRA (conference call)
Sellside Conferences: Morgan Stanley Laguana Conference.
Upgrades & Downgrades: