Federal Reserve Bank of New York Research Paper – Employment data provides best predictor of recessions.
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: MRNS XERS ADVM TBPH of note.
Notes Priced: None of note.
Common Stock filings: BLBD of note.
Mixed Shelf Offerings: ATO HAL of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
EXAS +0.90, PEAK +0.36, LYFT +0.20, AMCR +0.14, PRI +0.11, AKAM +0.10, CPSI +0.09, CNO +0.06, DENN +0.06, ACGL +0.06, ACCO +0.05, BXMT +0.04, DIOD +0.03, LSCC +0.02, NSP +0.02, KRNT +0.01, NCR +0.01, REXR +0.01 of note.
DCP (0.48), AIZ (0.10), VNOM (0.09), UDR (0.07), WU (0.05), VREX (0.04) of note.
DEI +0.00, HCSG +0.00, TGH +0.00
Hourly Action This Week: Updated 2/11
News After The Close (In Order of Time)
Johnson & Johnson (JNJ) will tackle coronavirus with Health & Human Services.
Invesco (IVZ) sees assets drop 0.6% from December.
Artisan Partners (APAM) sees assets fall by 0.66%.
Bed Bath & Beyond (BBBY) falls -26% on weak holiday sales.
Stock Repurchase Announcements:
Dividend Increases: HE GOLD IPG
Gap Higher: PERI +9%, CPSI +7%, CSGP +5%, CVE +4%, ADMS +4%, LSCC +4%, BG +4%, MGI +4%
Gap Lower: BBBY -25%, NSP -19%, VREX -18%, MRNA -6%, LYFT -5%, WU -5%, TNAV -5%, KRNT -4%, BLBD -4%, NCR -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 +14 Dow Jones Industrial Average +140 NASDAQ +51 Russell 2000 +11. Fair values are lower. Asia and Europe higher.
Gold and silver lower with copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $130.75 from $130.95 with yields at 1.623% from 1.587%. Prices as of 8:30 a.m. EDT.
Positive Sectors On Tuesday: Materials, Energy, Services and Conglomerates of note.
Negative Sectors On Tuesday: None of note.
One Month Winners: Conglomerates, Utilities, Technology and Consumer Goods.
Three Month Winners: Healthcare, Consumer Goods and Technology.
Six Month Winners: Consumer Goods, Utilities, Healthcare, Technology, Industrials and Financials.
Twelve Month Winners: Consumer Goods,Technology, Utilities, Industrials and Services.
Year to Date: Conglomerates, Utilities, Technology, Consumer Goods and Industrial Goods.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: CSCO AMAT EQIX MFC WELL SLF WCN CDNS EFX MGM SSNC CTL IFF NLY
Thursday Before The Open: PEP BABA DUK ZTS BAM WM TRIP FIS AIG KHC TU FTS LH INCY ZBRA WST
Earnings This Morning Of Note
BG +0.98, TAP +0.24, SHOP +0.23, LAD +0.21, CYBR +0.16, AB +0.15, CIM +0.12, CIGI +0.10, MCO +0.08, IPG +0.05, CVS +0.04, NBL +0.03, GOLD +0.03, IQV +0.02, GPN +0.02, TEVA +0.01, CVE +0.01 of note.
PVG +0.00, ECOM +0.00, TW +0.00, ARCC +0.00
WNC (0.04), CME (0.03), RDWR (0.01) of note.
Still To Report: NSIT, TRVG
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story:
5 Things To Know To Start Your Day. (Bloomberg)
Stocks Moving This Morning. (CNBC)
COVID 19 map in Asia. (NYT)
OPEC takes down 2019 world oil demand growth by 0.02 mb/d.
Stock Index Tracking
All back to positive. Current through 2/11 close.
Bold means a change from prior day.
The advance/decline line model moved to cash 1/31. Updated through 2/11. In 2019, the model was up 16.48% on the S&P 500 and this year is up 2.08%. 5 buy signals and 4 cash signals in 2019. Current buy signal ended with a gain of 9.83% and began on 10/17/19. We failed to get back to a buy this morning and now the earliest it could come would be Friday morning.
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 2/11.
Economic & Related:
The latest NYSE and NASDAQ Short Interest is out through the end of January and the NYSE fell -1.36% while NASDAQ fell -1.98%.
The latest API Petroleum Institute data was out at 4:30 p.m. EDT and saw crude oil build by 6 million barrels with estimates of 2.978 million barrels.
MBA Mortgage Applications rose 1.1% after rising 5% last week.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
President Trump will lunch with the vice president and then meet with the President of Ecuador at 2:25 p.m. EDT and then attend a fundraiser at the Trump International Hotel.
Federal Reserve Chairman Jerome Powell will conclude two days of testimony before Senate at 10:00 a.m. EDT.
$27 Billion of 10 Year Treasuries at 1:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: (Investor Day) HTLF CSGP (Conference Call)
Sellside Conferences: Goldman Sachs Technology and Internet Conference (2/11-2/13). Stifel Transportation and Logistics Conference (2/11-2/13). Loop Capital Transportation, Logistics and Materials Conference (2/12-2/13).
Industry Conferences: Metro Connect USA (2/10-2/12). BIO CEO & Investor Conference (2/10-2/11). Chicago Auto Show (2/8-2/17). Enercom Dallas Energy Investment Conference. (2/11-2/12). Developers SF Bay Area Conference and Expo 2020 (2/12-2/16).
Heartland Financial (HTLF) to buy AIM Bancshares in cash and stock deal worth $280 million.
CoStar Groupbuys RentPath out of Chapter 11 for $588 million in cash.
Upgrades & Downgrades through 8:30 a.m. EDT 2/11