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Morning Note

"CAPIS Morning Note – 12/16/19 Futures Higher This Morning"

posted by CAPIS on 12/16/2019 am31 7:29 am

by CAPIS

12/16/2019 am31 7:29 am

Breaking News- 

IPOs on deck: None of note.

IPOs Filed: None filed after the close.

Secondaries Priced: None of note.

Notes Priced: None of note.

Common Stock filings: FRTA APLT QTNT of note.

Mixed Shelf Offerings filed:   None of note.

Convertible Offering Files: None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:

None of note.

Missed:

None of note.

Hourly Action This Week: Updated 12/12

News After The Close (In Order of Time)

ACI Worldwide (ACIW) names Craig Saks COO as well as interim President and CEO on January 1st.

Bio-Rad Labs (BIO) announced that they are recovering from a ransomware attack.

Index Changes see LYV ZBRA STE to join the S&P 500 after leaving the S&P 400 while AMG TRIP MAC are out.  LOPE LEA  join S&P 400 replacing OAS SWN. They join the S&P 600 the S&P 600 replacing UNT FTR. ARWR also joins S&P 400 and GVA leaves going to the S&P 600.

Barron’s positive on FDX TXN UAL UNP ALK AAPL GOOGL BAcC BLK CAT CVX DDAIF DAL ET TOLCGC ACB

Stock Repurchase Announcements: SCVL ESRT WST

Dividend Increase: HST (special) ERIE AUY

Gap Higher: AXSM +52%, AMRN +10%, DD +5%, SPLK +5%, WDC +4%.

Gap Lower: PCG -20%, IFF -6%, BZUN -5%, BA -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 +16 Dow Jones Industrial Average +72 NASDAQ +49 Russell 2000 +11.82. Fair values are lower. Asia mixed and Europe higher.

Gold, silver and copper higher. 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 $128.78 from $128.45 with yields at 1.85% from 1.88%. Prices as of 8:0 a.m. EDT.

Positive Sectors On Friday: Materials, Energy, Technology and Financials of note.

Negative Sectors On Friday: Utilities, Real Estate and Conglomerates of note.

One Month Winners: Healthcare, Industrials and Technology.

Three Month Winners: Industrials, Financials and Healthcare.

Six Month Winners: Consumer Goods, Industrials, Technology and Healthcare.

Twelve Month Winners: Technology, Industrials and Services.

Year to Date: Technology, Industrials, Technology, Consumer Goods, Services and Financials.

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

Today After The Close:  

HEI  of note.

Tuesday Before The Open:

JBL NAV WOR of note.

Earnings This Morning Of Note

Beat:

None of note.

Missed:   

None of note.

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

Top News Story:  

Five Things You Need To Know To Start Your Day. (Bloomberg)

Five  Things To Know To Start Your Day. (CNBC)

Stocks making the biggest moves. (CNBC)

California Governor Gavin Newsom rejects PG&E (PCG) reorganization plan.

Fact sheet from the U.S. Trade Representative released on China Trade Deal. Deals with Intellectual Property and tech transfer. China to buy $200  billion  more in goods than it did in 2017.  U.S. Tariffs to be reduced except for the 25% tariff that  remains in place.

China threatens Germany if it bans Huawei 5G. (Bloomberg)

U.K. Prime Minister Boris Johnson to hold Brexit vote in Parliament by Christmas. (Reuters)

Mexico has yet to agree to USMCA changes. (FT)

Earlier this year the U.S. expelled two Chinese Embassy officials. (NYT)

China suspends tariffs on the U.S. (CNN)

U.S. Treasury Secretary Mnuchin says that the U.S. is not weaponizing the dollar. (CNBC)

Boeing (BA) may reduce or halt 737 Max 8 production. (CNBC)

Notable Data Points

All  stock indexes remain strong. Current through 12/13.

Bold means a change from prior day.

The advance/decline line model is now a buy though it is struggling with the recent action. Updated through 12/13. Year to date model up 14.72% on the S&P 500. 5 buy signals and 4 cash signals in 2019. Current signal is a buy and is up 5.99%.

YTD 64% (-1% change week over week) of stocks are higher and 36% are lower. Updated  through 12/6 close.

Courtesy of Phil Erlanger Research, Inc.

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 12/13.

Economic & Related:

December Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to rise to 3.5% from 2.9%.

December NAHB Housing Market Index is due out at 8:30 a.m. EDT and is expected to fall to 69 from 70.

Geopolitical:      

President Trump will receive his intelligence briefing this morning, lunch with Vice President Trump and then participate in the Governor’s Initiative on Regulatory  Innovation at 2:00 p.m. EDT.

Conferences & Analyst Meetings:

Investor/Analyst Days & Conference Calls of Note:  ICPT AEIS (Investor Day) AMRN RHBBY  (Conference Call) SENS (Update)

Sellside Conferences: None of note.

Industry Conferences: None of note.

M&A Activity

International Flavors & Fragrance (IFF) to merger with DuPont’s Nutrition & Biosciences unit. Deal valued at $45.4 billion.

Humana (HUM) to buy Enclara Healthcare, no terms.

Upgrades & Downgrades

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