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10.15.2019 14 new posts under Morning Note (10), CAPIS Headlines (3), International Summary (1)

Morning Note

News

Morning Note

"CAPIS Morning Note – 9/18/19 NY Fed To Inject Liquidity Into System For Second Consecutive Day"

posted by CAPIS on 09/18/2019 at 7:50 am

by CAPIS

09/18/2019 at 7:50 am

NY Federal Reserve  Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve will conduct open market operations and inject up to $75 billion.

Corporate Actions 

IPO News: 

IPOs on deck: Envista (NVST) and IGM Biosciences (IGMS) to begin trading today.

IPOs Filed:  None filed after the close.

Secondaries on deck:  INVH ACAD TBIO ROAD of note.

Notes Priced: None of note.

Common Stock filings: TBIO PTCT ACAD INVH  of note.

Mixed Shelf Offerings filed:None of note.  

Convertible Offering Files: PTCT of note.

Senior Notes Filed:   None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

 ADBE +0.08 of note.

Missed:

CHWY (0.11), FDX (0.11) of note

News After The Close: (In time order after the close)

Alexion Pharmaceuticals (ALXN) names Dr. Aradhana Sarin new CFO.

Dexcom (DXCM) names Quentin Blackford as COO in addition to being CFO.

CDW (CDW) to join the S&P 500 next Monday.

Stock Repurchase: ATRO STBA.

Dividend Increase: JPM TTEC.

Dividend Decrease: ANH.

Early Morning Gap Up/Down: (>4% or <-4%)

Gap Higher: ZYNE +10%, CDW +6%

Gap Lower: FDX -12%, TBIO -10%, IOTS -8%, PTCT -8%, CHWY -4%, ACAD -4%, CBAY -4%

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

S&P 500 -5 Dow Jones Industrial Average -37 NASDAQ -17 Russell 2000 +1. Fair values are mixed. Asia mixed. Europe modestly higher.

Gold, silver and copper lower. WTI Crude Oil  and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.52 from $129.25 with yields at 1.773% from 1.81%. Prices as of 8:45 a.m. EDT.

Positive Sectors On Tuesday: Utilities, Conglomerates, Consumer Goods and Services.

Negative Sectors On Tuesday: Materials and Energy.

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 Monday close.

Courtesy of Quantitative Partners, Inc.

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

Today After The Close: SCHL SCS of  note.

Thursday Before The Open: CMD UXIN of note.

Earnings This Morning Of Note  

Beat: 

GIS +0.02 of note.

Missed:

None of note.

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

Wall Street Journal Main Headline: Fed Steps In to Curb Soaring Short-Term Borrowing Costs

Top Story of the Day:  NY Federal Reserve injected $53 billion in liquidity and will dump another $75 billion in this morning. (WSJ)

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)

Preview of Federal Reserve announcement. (CNBC)

President Trump considering cyber attack or physical strike on Iran. (NBC News)

Israeli elections to close to call. (NYT)

Smart TVs have been leaking information to Netflix (NFLX) and Facebook (FB). (FT)

Apple (AAPL) pre-orders in Taiwan stronger than expected. (Digi Times)

Southwest (LUV) gives positive update of 3-5% growth.

Data Points

Stock indexes are in good shape but several broke under their 5 day moving average on Monday and S&P 400 broke it yesterday.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/16/19 close. Year to date model up 10.22% 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.

Courtesy of Quantitative Partners, Inc.

YTD  67% (+6% week over week) of stocks are higher and 33% are lower. Updated 9/13/19 close with next update on 9/20/19 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 Tuesday’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:

API Petroleum Institute data came in with a build of 600,000 barrels.

Weekly MBA Mortgage Application fell -0.1% after rising 2% last week.

August Housing Starts are due out at 8:30 a.m. EDT and are expected to come in at 1,255,000 from 1,191,00.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

Geopolitical:

President Trump will be in Los Angeles and San Diego today for events. He returns to Washington D.C. later tonight after a full day in California.

The latest FOMC announcement is due at 2:00 p.m. EDT and is expected to see a rate increase of 25 basis points. This will be followed by a press conference at 2:30 p.m. EDT with Federal Reserve Chairman Jerome Powell. 

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:   CRM PPC ANIK (investor day) (conference call) 

Sellside Conferences: Goldman Sachs Communicopia Conference. Bank of America Merrill Lynch Healthcare Conference. D.A. Davidson Annual Diversified Industrials and Services Conference.

Industry Conferences: Denver Gold Forum.  Grocery Shop 2019. SEMICON Taiwan.

M&A Activity:

Amazon (AMZN) to buy IGBD and integrate with Twitch.

Summit Financial (SMMF) to buy Cornerstone for $28.5 million.

Upgrades & Downgrades: 

DISCLAIMER

This communication is for informational purposes only and is solely intended for use by institutional investors. Use of this communication by others, including retail investors, is prohibited. No statement herein is to be construed as a recommendation to purchase or sell a security, or to provide investment advice. Certain products, including options and futures, may involve substantial risk and are not suitable for all investors. The information on this webpage is provided by an independent third party. While the information and opinions presented in this material have been obtained or derived from sources believed by Capital Institutional Services, Inc. (CAPIS) to be reliable, CAPIS makes no representations concerning its accuracy or completeness, and accepts no liability for loss arising from the use of this material.