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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 – 9/19/19 Bank of England Leaves Rates Unchanged After Fed Lowers"

posted by CAPIS on 09/19/2019 at 7:41 am

by CAPIS

09/19/2019 at 7:41 am

NY Federal Reserve  Open Market Action – At 8:30 a.m. EDT, the NY Federal Reserve will conduct open market operations for  third day.

Corporate Actions 

IPO News: 

IPOs on deck: Datadog (DDOG) and Ping Identity (PING) to begin trading today.

IPOs Filed:  None filed after the close.

Secondaries on deck: ARES NCR PAA PAGP PRVB VBIV XGN  of note.

Notes Priced: IOTS CMLS of note.

Common Stock filings:  PRVB PAGP  ARESLYV of note.

Mixed Shelf Offerings filed: LHX of note.  

Convertible Offering Files:  ETSY SAIL of note.

Senior Notes Filed:   None of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

MLHR +0.06 of note.

Missed:

None of note

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

Northern Trust (NTRS) names Jason Tyler CFO in 2020.

Cisco (CSCO) was interested in buying Datadog (DDOG) which is going public today.

AT&T (T) may sell DirecTV. Then disputes this morning that story.

Stock Repurchase: MSFT TGT.

Dividend Increase: MSFT WPC.

Dividend Decrease:.

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

Gap Higher: MLHR +9%

Gap Lower: PRVB -14%, X -11%, ARES -4%, AKS -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 -1 Dow Jones Industrial Average -8 NASDAQ -7 Russell 2000 +1. Fair values are mixed. Asia mixed. Europe modestly higher.

Gold, silver and copper lower. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $129.55 from $129.52  with yields at 1.765% from 1.773%. Prices as of 8:25 a.m. EDT.

Positive Sectors On Wednesday: Utilities and Industrials.

Negative Sectors On Wednesday: Conglomerates, Materials and Industrials.

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 Tuesday 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.

Friday Before The Open: None of note.

Earnings This Morning Of Note  

Beat: 

DRI +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: 

Top Story of the Day:  President Trump interviewed on Fox News this morning.

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)

Bank of England leaves rates unchanged warns about Brexit.

China and the U.S. restart talks today. (Reuters)

OECD cuts outlook to a new low. (CNBC)

House to vote on continuing resolution to extend government to 11/21. (The Hill)

Saudi Arabia to import crude from Iraq, 20 million barrels. (WSJ)

Facebook (FB) CEO Mark Zuckerburg heads back to the Hill today to meet with House & Senate members. (Axios)

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 Tuesday with the Russell yesterday.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/18/19 close. Year to date model up 10.26% 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:

Weekly Jobless Claims are due out at 8:30 a.m. EDT.

Philadelphia Federal Manufacturing is due out at 8:30 a.m. EDT and is expected to come in at 8 from 16.80.

August Existing Home Sales are due out at 10:00 a.m. EDT and are expected to come in at 5.36 million from 5.42 million.

August Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 0.1% from 0.5%.

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

Geopolitical:

President Trump will have a quiet day as he has nothing on his schedule.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:   ORCL POOL STX  (investor day)  MSRT (conference call) 

Sellside Conferences: Goldman Sachs Communicopia Conference. D.A. Davidson Annual Diversified Industrials and Services Conference. Credit Suisse Consumer IR 1 on 1 Day. CL King Annual Best Ideas Conference.

Industry Conferences:  SEMICON Taiwan. Delivering Alpha CNBC.

M&A Activity:

China Biologic Products (CBPO) gets abid for $120 a share.

Upgrades & Downgrades: 

DISCLAIMER

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