IPOs on deck: None of note.
IPOs Filed: None of note after the close.
Secondaries Priced: MIRM APLS OSMT of note.
Notes Priced: None of note.
Common Stock filings: None of note.
Mixed Shelf Offerings: MRTX of note.
Convertible Offering Files: MDB of note.
Senior Notes Filed: None of note.
Earnings After The Close:
HELE +0.63, JEF +0.39 of note.
BBBY -0.41 of note.
Hourly Action This Week: Updated 1/7
News After The Close (In Order of Time)
Rockets hit in the Green Zone in Baghdad yesterday after the close.
Bed Bath & Beyond (BBBY) withdraws full year guidance.
Chicos FAS (CHS) raises Q4 outlook but CFO leaves.
AT&T (T) reaffirmed guidance at investor conference.
Stock Repurchase Announcements: None of note.
Dividend Increase: EFC of note.
Gap Higher: CHS +25%, DBVT +22%, NBRV +11%, HELE +6%, MIRM +6%, AZZ +4%
Gap Lower: TUFN -30%, BBBY -8%, MRTX -6%, GMED -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 +16 Dow Jones Industrial Average +150 NASDAQ +61 Russell 2000 +7.96. Fair values are lower. Asia and Europe higher.
Gold, silver and copper lower. WTI Crude Oil higher 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 is at $128.75 from $129.22 with yields at 1.867% from 1.823%. Prices as of 8:30 a.m. EDT.
Positive Sectors On Wednesday: Consumer Goods, Technology and Healthcare of note.
Negative Sectors On Wednesday: Materials, Energy and Utilities of note.
One Month Winners: Healthcare, Materials, Energy, Consumer Goods and Technology.
Three Month Winners: Healthcare, Consumer Goods and Technology.
Six Month Winners: Consumer Goods, Healthcare, Technology and Financials.
Twelve Month Winners: Technology, Industrials and Services.
Year to Date: Consumer Goods, Technology, Industrials, Technology, Services and Financials.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close:
SNX JEF KBH WDFC PSMT of note.
Friday Before The Open:
INFY of note.
Earnings This Morning Of Note
LNN +0.22, AZZ +0.04, SMPL +0.02 of note.
None of note.
Still to Report: AYI
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story:
5 Things To Know To Start Your Day. (Bloomberg)
Kohls (KSS) holiday comps -0.2% versus 2018 and 2019 EPS to be at low end of range.
AQR to cut 5-10% of global workforce after underperforming in 2019.
J.P. Morgan (JPM) to raise the annual fee of the Sapphire Card.
Stock Index Tracking
All stock indexes remain strong but the 5 day moving averages have failed. Current through 1/8 close.
Bold means a change from prior day.
The advance/decline line model is now a buy though it is struggling with the recent action. Updated through 1/8. In 2019, the model up 16.48% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 9.88%.
YTD 65% (+1% change week over week) of stocks are higher and 35% are lower. Updated through 12/27 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 1/8. Volatility is starting to rise.
Economic & Related:
Weekly Jobless Claims are due out at 10:30 a.m. EDT.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
$16 billion of 30 Year Treasury Note Auction.
President Trump will announce at 11:00 the National Environmental Policy Act. President Trump to hold a Keep America Great rally in Toledo, OH at 7:00 p.m. EDT.
Federal Reserve Vice Chairman Richard Clarida to speak at 8:00 a.m. EDT.
Federal Reserve St. Louis President James Bullard to speak at 1:20 p.m. and 2:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: MNST CASY (Investor Meeting)
Sellside Conferences: None of note. Credit Suisse ASEAN Conference (1/8-1/10).
Industry Conferences: Consumer Electronic Show (CES) (1/7-1/10)
Proctor & Gamble (PG) to buy Billie, no terms.
Upgrades & Downgrades