Morning Outlook- Markets are waiting to see how the Job Growth goes in the U.S.
Breaking News – Treasury Secretary Janet Yellen is speaking in Italy this morning. (Bloomberg). Jobs miss with only 194,00 new jobs created.
Earnings Out After The Close
Misses: ACCD (0.44)
IPOs Priced or News:
New SPACs launched:
Secondaries Priced: None of note.
Notes Priced of note: DOC of note.
Common Stock filings: AGRX CDTX of note.
Pricing of Over-Allotment:
Selling Shareholders of note: RKLY ACHR TMC of note.
Private Placement of Public Entity (PIPE): None of note.
Mixed Shelf Offerings: FNCB of note.
Convertible Offering & Notes Filed: None of note.
Note Offerings Filed: None of note.
Capital Raise Summary From The TradeXchange, bringing traders and investors real time news and Squawk Box, and other sources.
News After The Close:
Scientific Games (SGMS) wins 10 year gaming contract in Vermont.
Quidel (QDEL) raises guidance for Q3 well above consensus.
Williams Sonoma (WSM) raises minimum wage to $15 an hour.
Molina Healthcare (MOH) buys Medicaid business of AgeWell New York for $110 million.
After Hours +EFTR +23% VXRT +11% RPTX +5% and – ALLO -38% ACCD -7% NKTX -4%
Dividend Announcements: Increases: THO
Buyback Announcements: VMW
What’s Happening This Morning: Futures value reflects the change with fair value.
S&P 500 +2 Dow Jones Industrial Average -33 NASDAQ +60 Russell 2000 -5. Fair values are mixed. Asia mixed and Europe lower. VIX is at 19.90 from 20.72 in futures from yesterday. Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $131.30 from $131.73 yesterday with yields at 1.579% from 1.54% yesterday morning. Bitcoin at $54,848 from $53973 up $779 or +1.44% in morning trading.
Thursday’s Action – 10/7 Close.
Positive Sectors Thursday: Consumer Cyclical, Materials, Healthcare and Technology of note.
Negative Sectors Thursday: Utilities of note.
One Month Winners: Technology, Communication Services, Real Estate and Energy of note.
Three Month Winners: Technology, Communication Services and Healthcare of note.
Six Month Winners: Technology, Communication Services and Real Estate of note.
Twelve Month Winners: Communication Services, Energy, Technology, Financials and Industrials of note.
Year to Date: Energy, Communication Services, Energy, Financials, Real Estate and Technology of note.
Stocks were higher, Bonds were lower, U.S. Dollar lower and Commodities mixed. Updated 10/07 Close.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: none of note.
Monday Before the Open: none of note.
Earnings of Note This Morning:
Beats: None of note.
Flat: None of note.
Misses: None of note.
Erlanger Research Advance/Decline Chart –Updated through 10/7 close. Divergence in place for now!
Gap Ups & Down In Early Pre-Market:
Gap up: EFTR +26%, RPTX +10%, VXRT +8%, QDEL +7%, HGEN +5%
Gap Down: ALLO -36%, ACCD -8%, CB -3%
Insider Action: Of note, SAFE sees Insider buying with dumb short selling and no smart short sellers with insider buys this morning. 10/8
Rags & Mags: Highlighted Stories may be clicked through to the original story. Repeated stories from prior days never listed, i.e. “rehashed news”.
Covid Stats: We are dropping the stats as of today as cases and hospitalizations are both down over 30% from recent highs.
China looks to coal miners to increase production. (FT)
Senate passes legislation to raise the debt ceiling 61-38 which will last until 12/3. Can you say kicking the can down the road? (Politico)
Senator Joe Manchin (D-WV) will not budge on raise the Budget Reconciliation Bill above $1.5 trillion. (CNN)
Ford (F) to suspend Mexico production for two days due to supply shortages. (Reuters)
Robinhood looks at Levi Strauss (LEVI) strong quarter. Nike (NKE) remains supreme with Gen Z.
Moving Average Update
Score at 40% from 17% unchanged. Updated 10/6 Close.
The President receives the President’s Daily Brief, 9:30 a.m. EST
The President signs into law S. 1828, the “HAVANA Act of 2021,” and S. 1917, the “K-12 Cybersecurity Act of 2021”, Oval Office, Closed Press, 10:00 a.m. EST
The President delivers remarks on the September jobs report, South Court Auditorium, 11:30 a.m. EST
The President delivers remarks on restoring protections for national monuments and steps the Biden-Harris Administration is taking to better conserve and restore lands and waters that sustain the health of our communities, tackle the climate crisis, and power good jobs and a strong economy, 1:45 p.m. EST
The President receives the Weekly Economic Briefing, 2:30 p.m. EST
Press Briefing by Press Secretary Jen Psaki, 2:30 p.m. EST
The President departs the White House en route Wilmington, Delaware, 6:15 p.m. EST
The President arrives in Wilmington, Delaware, 7:10 p.m. EST
None of note.
September Nonfarm Payrolls are due out at 8:30 a.m. EDT and expected to rise to 450,000 from 235,000.
The September Unemployment Rate is also due out at 8:30 a.m. EDT and is expected to fall to 5.1% from 5.2%.
Weekly Baker Hughes Rig Count is due out at 1:00 p.m. EDT.
Meeting & Conferences of Note:
Sellside Conferences: Sidoti & Co Small Cap Conference (10/8-9)
Company Meetings: RPTX VWAGY SFTBY (Investor/Analyst Day)
Conferences of Note: 10th Congress on Trends in Medical Mycology (10/8-11) American Society of Retina Specialists (ARS) Annual Scientific Meeting (10/8-12) Anesthesiology 2021 (10/8-12)
Upgrades & Downgrades:
Thursday Recommendations of Note: