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09.24.2020 11 new Morning Note posts under Morning Note (10) and General (1)

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Morning Note

"CAPIS Morning Note -8/20/20 Futures Lower As FOMC Minutes Selloff Continues From 2:00 P.M. EDT On Wednesday"

posted by CAPIS on 08/20/2020 at 5:59 am

by CAPIS

08/20/2020 at 5:59 am

Covid-19 Update With Latest Data

Cases reported 45,103 from 40,458

Tests 680,896 from 642,928

Positivity Rate 6.62% from 6.29%

Deaths 1,416 from 1,195

Hospitalizations 43,313 from 43,747

Mortality Rate at 3.00% no change

source COVID tracking project

Capital Raises

IPOs Priced: None of note.

Secondaries Priced: CALM ZI  SABR  of note.

Notes Priced of note: SABR ETSY of note.

Common Stock filings: AVTR.  (Selling Shareholder Offerings)  of note.

Mixed Shelf Offerings:  None of note.

Convertible Offering Files:  None of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beats:

LB +0.67, NVDA +0.50, SNPS +0.40, NDSN +0.08 of note.

Misses:

SQM (0.04) of note.

Flat:

News After The Close:

AutoNation (AN) to close aftermarket collision parts business by end of 2020.

AMC Entertainment (AMC) to reopen 100 plus theaters today.

Raymond James (RJF) sees client asset up 9% in July  over 2019 and 4$ from June to $908.20 billion.

Estee Lauder (EL) reinstates quarterly dividend of $0.48.

Raises Guidance Raised: NVDA

Lowers Guidance: EL

Raises Dividend: SSNC CBU WGO VRTS   

Cut Dividend:

Stock Split Announcement: 

Stock Buyback: INTC

10Q Delays: 

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

S&P 500 -11 Dow Jones Industrial Average -97 NASDAQ -5 Russell 2000 -11.87 . Fair values are mixed. Asia and Europe lower. VIX September futures are at 26.87 from 25.75 this morning. Current VIX is at 21.93 from 21.51.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $139.53 from $139.50 with yields at 0.644% from 0.653%.

Positive Sectors On Wednesday:  None of note

Negative Sectors On Wednesday: Real Estate, Materials, Energy and Consumer Cyclicals of note.

One Month Winners: Industrials, Consumer Cyclical and Consumer Defensive of note.

Three Month Winners: Consumer Cyclical, Technology and Industrials of note.

Six Month Winners: Consumer Cyclical, Technology, Materials and Healthcare of note.

Twelve Month Winners: Technology, Consumer Cyclical and Communication Services of note.

Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.

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

Today After The Close: ROST KEYS OSIS of note.

Thursday Morning: PDD DE FL BZUN BKE  of note.

Gap Up: AMC +7%, ORC +7%, SNPS +5%, INTC +4%

Gap Down: AVTR -8%, CWH -5%

Earnings This Morning Of Note

Beat:

BABA +1.26, BJ +0.17 of note.

Flat:

Missed:

EL (0.36) of note.

Still to Report: 

Erlanger Research Advance/Decline Line Chart – Wednesday was a weak day as advancers lagged decliners. Close 8/18.

Courtesy of Phil Erlanger Research Inc.

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

5 Things to Know Before The Market Opens Today. (CNBC)

Stocks Making The Biggest Moves. (CNBC)

Coronavirus Update: Universities respond to virus, schools years away from normal. (CNBC)

Chinese Ministry spokesman Gao Feng states that China and U.S. to hold trade talks that did not happen last Saturday. (Reuters)

Russian opposition leader Alexey Navalny was poisoned and is in the hospital. (Bloomberg)

U.S. to ask U.N. to reinstate sanctions against Iran. (NYT)

Senator Kamala Harris accepts the Democratic Nomination. (NY Times)

President Obama delivered a scathing rebuke of the Trump Administration and the presidency of Donald J. Trump. (CNN)

Airbnb files IPO. (CNBC)

Stock Index Trading

Current through 8/18 close. Indexes lost some ground yesterday.

Bold means a change from prior day.

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. Updated through 8/18 close. EVL Ranges are again starting to get back to normal with the recent action, pay attention The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO) then find Erlanger Research and setup a trial.

Courtesy of Phil Erlanger Research, Inc.

Economic

Weekly Jobless Claims are due out at 8:30 a.m. EDT. Goes back above one million to 1,106,000.

August Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to fall to 21 from 24.10. Falls to 17.20

July Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 1.1% from 2%.

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

Geopolitical & Related

President Trump will meet with  the Prime Minister of the Republic of Iraq at 11:00 a.m. EDT and then head to Scranton, PA area where he will deliver remarks at Mariotti Building Products at 3:00 p.m. EDT before heading back to Washington D.C.

The Democratic National Conventions continues virtually and in Milwaukee. Will conclude tonight when Democratic Presidential Nominee Joe Biden speaks.

Investor Events & Conference Calls

XONE (Virtual Meeting) XONE GMBL DTE AYBT (Investor Meeting) USM TDS (Fireside Chat)

Sellside Conferences: Santander Brazil Conference (8/17-8/21)  UBS Kohler Mid-West Utilities Conference (8/19-8/20)

Industry Conferences:

M&A

Upgrades & Downgrades For Thursday 8/19 – A rather light day for recommendations.

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