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10.27.2020 11 new Morning Note posts under Morning Note (10) and General (1)

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"CAPIS Morning Note – September 30: The Aftermath of The “Debate” , Stocks Volatile"

posted by CAPIS on 09/30/2020 at 7:47 am

by CAPIS

09/30/2020 at 7:47 am

Correction Review – On Tuesday we looked at the various moving averages on six of the major equity indexes.

Covid-19 Update With Latest Data From Friday 

Total Cases 7,154,198 from 7,117,251

Recovered: 2,813,305 from 2,794,608

Deaths 197,868 from 197,129

New Cases reported 36,947 from 36,741

Tests 812,773 from 1,033,817

Deaths 739 from 260

Current Hospitalizations 30,391 from 29,539

source COVID tracking project

Capital Raises

IPOs Priced:  None of note.

Secondaries Priced: APM FCEL CRDF  of note.

Notes Priced of note: None of note.

Common Stock filings: FCEL CRDF OMI IMXI LAD ARQT of note.

Selling Shareholders of note: 

Mixed Shelf Offerings: BAM of note.

Convertible Offering Files: None of note.

Senior Notes Filed: None of note.

Earnings After The Close:

Beats:

SNX +1.07, CMTL +0.15, MU +0.14, PRGS +0.01 of note.

Misses:

None of note.

Hourly Action – We continue with volatile action. Updated 9/28 close.

News After The Close:

Regeneron (RNGN) and their REGN-COV2 antibody cocktail reduced viral levels and improved symptoms in nonhospitalized Covid-19 patients.

Walt Disney (DIS) will lay off 28,000 employees due to park closures and attendance restrictions.

Microsoft (MSFT) issues report showing increasing sophistication of cyber threats driven by Russia, Iran, China and North Korea.

Moderna (MRNA) gets similar results in Covid-19 vaccine for Older adults as well as younger adults.

Dividend Increase: 

Reinstates Or Initiates Buybacks: AMP EGBN LOW HDS

Guides Higher: SHW SNX

Stock Split:

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

S&P 500 +5  Dow Jones Industrial Average +28 NASDAQ +5  Russell 2000 +2.17. Fair values are lower.  Asia mixed and Europe mixed. VIX October futures are at 30.05 from 31.15  this morning. Current VIX is at 26.62 from 26.19.

Gold and silver lower with copper higher. WTI Crude Oil lower and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $139.75 from $139.69  with yields at %.

Positive Sectors On Tuesday:  Healthcare and Utilities of note.

Negative Sectors On Tuesday:  Energy, Financials and Industrials of note.

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

Three Month Winners: Consumer Cyclicals, Materials and Technology of note.

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

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

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

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

Today After The Close:  None of note.

Thursday Morning: PEP STZ CAG CCL BBBY of note.

Gap Up:

 of note.

Gap Down:

 of note.

Earnings This Morning Of Note

Beat:

None of note.

Missed:

None of note.

Still To Report:EPAC

Erlanger Research Advance/Decline Line Chart –  Updated 9/29.

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 9/28 close. 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. The correction cannot end until the EVL Range becomes normal again, i.e. no blue highlighting.

Courtesy of Phil Erlanger Research Inc.

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

Stocks Making The Biggest Moves – DIS DOW MU GM. (CNBC)

5 Things To Know Ahead of Today’s Trading. (CNBC)

Corona Virus Update: Pharma stocks rally on news and Europe approves 15 minute test. (CNBC)

The first Presidential Debate is history and here is a summary. (CNBC)

White House Chief of Staff Mark Meadows hopes a stimulus deal can be reached. House Speaker Pelosi also thinks could be reached this week. (The Washington Post)

Federal Judge in Wisconsin allows for acceptance of mail in ballots up to 6 days after election. (Bloomberg)

White House overrules CDC on extending ban on cruise ship sailings. (Axios)

NextEra (NEE) may make a bid for Duke Energy (DUK). (WSJ)

Seven airlines get new loans from Treasury. (WSJ)

World Trade Organization (WTO) approves $4 billion in tariffs against Boeing and its subsidies. (Reuters)

Stock Index Trading

Current through 9/29 close. All indexes rose above their 5 day moving averages.

Bold means a change from prior day.

Economic

Weekly API Petroleum Data was out at 4:30 p.m. EDT and saw a build of 691,000 barrels while gasoline saw a draw of 7.735 million barrels.

ADP Payroll Report was out at 8:15 a.m. EDT and was expected to rise to 600,000 from 428,000. Actual number was 749,000.

Q2 GDP (final) is due out at 8:30 a.m. EDT and is expected to stay at -31.7%.

August Pending Home Sales are due out at 10:00 a.m. EDT and is expected to fall to 3.2% from 5.9%.

Geopolitical & Related

President Trump will head to Minnesota this afternoon to speak in Duluth at 900 p.m. EDT

Investor Events & Conference Calls

SRGA (Conference Call) TOT (Investor Day) INSM (R&D Day) SMTC (Webcast) AFR SPRO (Update)

Sellside Conferences: Credit Suisse 2020 Autos Conference (9/28-9/30) Wolfe Research Utilities & Midstream Conference (9/29-10/1) Canaccord Genuity U.S. Cannabis Symposium (9/30) TD Securities Forest Products Virtual Conference (9/30)

Industry Conferences: World Vaccine Congress (9/28-10/01) VMworld (9/29-10/1)

M&A

Caesars Entertainment (CZR) to buy William Hill for $2.9 pounds.

Upgrades & Downgrades For Wednesday – 9/30

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