The Daily Briefing For January 21st: Futures Higher But Modestly
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The Daily Briefing For January 21st: Futures Higher But Modestly
Total Cases 24,109,760 from 23,923,938
Deaths 396,837 from 392,428
New Tests 1,788,698 from 1,698,121
New Cases 185,822 from 144,047 with positivity rate of 10.3% (up 1.9)
Daily Deaths 4,409
Current Hospitalizations 122,700 from 123,820
IPOs Priced: Dream Finders Homes (DFH) prices 9.6 million shares IPO priced at $13 in line with range of $12 to $15. Trinity Capital (TRIN) begins IPO finalization process with a range of $13.50 to $15.50.
Secondaries Priced: OCX ATHA CMRX DYN ORC CTMX INO EDIT CYRX CDNA of note.
Notes Priced of note: None of note.
Common Stock filings: NVTA DCBO ORC SI INO ONCS RFL UK of note.
Selling Shareholders of note: UBER of note.
Mixed Shelf Offerings: AQB AWH of note.
Convertible Offering Files: VNET BSY of note.
Earnings Out After The Close Of Note:
Beats: DFS +0.29, HWC +0.27, WTFC +0.22, UMPQ +0.20, AA +0.19, PLXS +0.13, KMI +0.03, STL +0.03
Misses: UAL (0.58)
News After The Close:
Oakwood Acquisition Corp (OAC) which is a SPAC has bought Him & Hers Health and will trade under HIMS this morning.
Qiagen (QGEN) notes that their test works on new strains of Covid-19.
Illumina (ILMN) favorable patent suits against BGI in U.K.
FTAC Olympus Aquisition (FTOC) in talks to buy Payoneer. (Bloomberg)
Boeing (BA) wins $2.1 billion Air Force contract.
United Airlines (UAL) calls 2021 a transition year for a recovery year in 2021.
Pfizer (PFE) reaches vaccine deal in Japan.
President Biden signs 17 Executive Orders including the cancellation of Keystone pipeline permit, mask mandate in federal buildings, reenters Paris Climate Accord and defers student loan payments.
Dividend Increases: FBC
Raises Guidance: KMI PLXS
Lowers Guidance: UAL
Stock Buyback New Or Increase: MTB
Erlanger Valuelines Action– Each day Erlanger Research through its Chart Room track resistance, pivot and support levels. HFT and Algo firms use these levels to trade and much can be learned from following the valuelines. Blue highlighting indicates above average volatility. 1/20/21
Hourly Action– We track the hour by hour action on the S&P 500, Russell 2000 and Dow Jones Industrial Average. The best hour so far this week is 12:00 to 1:00 p.m. and the worst hours are 9:30 to 10:00 a.m. and 11:00 -12:00 p.m. Updated 1/20 Close
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +18 Dow Jones Industrial Average +32 NASDAQ +120 Russell 2000 +6. Fair values are lower. Asia higher ex Shanghai and Europe higher ex France. VIX is at 24.77 from 24.95 this morning in futures. VIX closed at 21.58 from 23.24 and the three month futures at 25.72 from 27.26.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $136.94 from $136.83 with the yield at 1.116% from 1.10% no change.
Positive Sectors On Wednesday: Communication Services, Real Estate and Consumer Cyclical.
Negative Sectors On Wednesday: None of note.
One Month Winners: Energy, Financials Real Estate and Industrials of note.
Three Month Winners: Industrials, Communication Services, Utilities and Financials of note.
Six Month Winners: Consumer Cyclical, Industrials, Technology and Materials of note.
Twelve Month Winners: Technology, Consumer Cyclical, Communication Services and Healthcare of note.
Year to Date: Energy, Materials, Healthcare and Financials of note.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Today After the Close: INTC, IBM, ISRG, CSX, PPG, SIVB, STX, WAL, PBCT, FFIN, OZK of note.
Friday Before the Open: SLB, EDU, KSU, RF, HBAN, ALLY, FHN, FHB, BLMN of note.
Earnings This Morning Of Note:
Beats: TRV +1.76, MTB +0.48, FBC +0.47, SBNY +0.36, WBS +0.25, TFC +0.22, WNS +0.19, BKU +0.19, BANC +0.16, SASR +0.14, KEY +0.13, UNP +0.12, FITB +0.10
Misses: NTRS (0.37), BKR (0.23), TAL (0.06)
Still to Report: HOMB
Erlanger Research Advance/Decline Chart – Updated 1/20 Close.
Gap Ups & Down In Early Pre-Market:
OCX +12%, OSUR +7%, LCTX +7%, APT +5%, BLD +4%, GLPG +4%
AWH -8%, CTMX -6%, INO -5%, VNET -5%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know Before The Open – (CNBC)
Stocks Making The Biggest Moves – MS NFLX (CNBC)
Covid Update – U.S To Join WHO. (CNBC)
There may not be the votes for the $1.9 trillion stimulus which will need 60 votes to pass. (Bloomberg)
President Biden to sign another 10 Executive Orders today. (CNBC)
Democrats reject Senate Minority Leader McConnell request to protect filibuster, Democrats will not eliminate. (Politico)
Dr. Fauci notes this morning that Johnson & Johnson (JNJ) will be out with its vaccine in next few weeks. (CNBC)
Hong Kong will approval Pfizer (PFE) vaccine. (South China Morning Press)
China Unicom (CHU) requests review of NYSE determination to delist ADSs.
China doubled construction of new wind and solar plants. (Reuters)
Stock Index Trading:
Current through 1/20 close. Overall confidence moves back to 100%.
Bold means a change from prior day.
The President, The First Lady, The Vice President, and The Second Gentleman watch the Virtual Presidential Inaugural Prayer Service 10:00 a.m. EST Blue Room
The President and The Vice President receive the President’s Daily Brief 12:45 p.m. EST Oval Office
The President delivers remarks on his administration’s COVID-19 response, and signs executive orders and other presidential actions; The Vice President also attends. State Dining Room 2:00 p.m. EST
The President and The Vice President receive a briefing from members of their COVID-19 team State Dining Room 2:25 p.m. EST
Press Briefing by Press Secretary Jen Psaki, 4:00 p.m. EST
The European Central Bank (ECB) was out with its latest release, no change. Easing remains front and center.
Weekly Jobless Claims are due out at 8:30 a.m. EST. The estimate is 845,000 and was higher last week at 965,000.
December Housing Starts are due out at 8:30 a.m. EST and is expected to rise to 1,575,000 from 1,547,000.
January Philadelphia Federal Reserve Index is due out at 8:30 a.m. EST and is expected to rise to 12 from 8.5.
Investor Meetings & Conferences of Note:
AEO VRNT (Investor Event) TENX (Conference Call) TSK INMD (Webinar) NFE (Update)
Sellside: UBS Greater China Conference (1/18-1/22) B.Riley Oncology Conference (1/20-1/21) Jefferies China Auto & Industrial Access Day (1/21) CIBC Western Conference (1/21)
Upgrades & Downgrades of Note This Morning: Note that downgrades are increasing first two weeks of the year.