Breaking News: Former Federal Reserve Chairman Janet Yellen will be interviewed on CNBC at 10:00 a.m. EDT.
IPOs on deck: None of note.
IPOs Filed: None of note.
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: CEQP of note.
Mixed Shelf Offerings: ATEX of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Earnings After The Close:
None of note.
None of note.
Gap Ups: MESO +67%, CODX +41%, TWO +25%, XBIT +16%, OSUR +9%, LGIH +8%, SDC +7%, MMM +4%, CC +4%, OSW +4%
Gap Downs: VRA -7%, DAL -7%
Hourly Action This Past Week: Updated 4/2 Close
News After The Close (In Order)
Floor & Decor (FND) keeps stores open for pick up of online, phone or app orders.
Ratings agency keeps Germany with a strong rating and a stable outlook.
Ratings agency keeps France with a good rating and a stable outlook.
JetBlue (JBLU) cuts April schedule by 70%.
Moody’s downgrades Argentina to Ca from Caa2 and cuts outlook to negative.
Delta (DAL) sees Q2 revenues to be down 90% as cut 90% of flights.
United (UAL) and American (AAL) cut over 90% of flights in and out of NYC Metropolitan area.
Walmart (WMT) to limit the number of customers in the store.
Lowers Guidance: DAL
Withdraws Guidance: SEM SDCCUTR RDNT
Stock Buybacks Stopped: CRVL
Dividend Cut Or Suspended: OSW
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +99 Dow Jones Industrial Average +836 NASDAQ +305 Russell 2000 +56. Fair values are lower. Asia mixed and Europe higher.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $138.66 from $139.09 with yields at 0.643% from 0.595%.
Positive Sectors On Friday: All lower.
Negative Sectors On Friday: Led by Utilities, Financials, Energy and Materials of note.
One Month Winners: None of note.
Three Month Winners: None of note.
Six Month Winners: None of note.
Twelve Month Winners: All in the red.
Year to Date: None of note.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Tuesday Before The Open: LNN FLR REV GBX ANGO CONN of note.
Earnings This Morning Of Note
SMPL +0.06 of note.
None of note.
Still to Report:
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: News of a slowing of the pandemic causes a rebound of markets.
5 Things To Know To Start Your Day. (Bloomberg)
Stocks Moving This Morning. (CNBC)
Stock Index Tracking
Current through 4/3 close.
Bold means a change from prior day.
The advance/decline line model is now a buy on Thursday’s close. Updated through 4/3 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -7.64% with the S&P 500 lower by -21.34% through last Friday. Now 6 buy signals and 4 cash signals in 2019 and 2020.
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 4/3 close. EVL Ranges remain above normal and are highlighted in blue.
Economic & Related:
None of note today. A slow week ahead.
President Trump will have lunch with the Vice President at noon.
The Coronavirus Task Force to meet at 6:00 p.m. EDT for their daily press conference with the president leading the call.
$40 billion of 3 Year Treasury Notes will be sold at 1:00 p.m. EDT.
Meetings, Calls & Conferences
Investor/Analyst Days & Conference Calls of Note: RLH IMMU INCY (Conference Call) (Investor Day) (Webcast) PLD ITUB (Update)
Sellside Conferences: Goldman Sachs Cell Therapy Day – ALLO and TCRR.
Industry Conferences: None of note.
Teledyne Tech (TDY) looking to buy Photonis for $550 million.