The Daily Briefing For July 19th: Futures Getting Crushed

by Geoff Garbacz | 07/19/2021 8:55 AM

Rebel Yell Morning Market Report

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The Daily Briefing For July 19th: Futures Getting Crushed

Breaking News: U.S., NATO and EU to blame China for cyberattack on Microsoft Exchange servers. (CNBC) Selloff gains speed this morning. (CNBC)

Earnings After The Close:

Beats: None

Flat:  None

Misses: None

Capital Raises: 

IPOs Priced or News: None of note.

New SPACs launched: Empower Ltd.(EMPW) will combine with Holley, expected to close today with symbol HLLY.

Secondaries Priced: RCAT of note.

Notes Priced of note: None of note.

Common Stock filings: LVOX NVVE of note.

Selling Shareholders of note: ATCO LVOX NVVE LAZR of note.

Private Placement of Public Entity (PIPE): None of note.

Mixed Shelf Offerings: GNK 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:

AMC Networks (AMCX) settles Walking Dead lawsuit and will pay $200 million to settle.

Zoom (ZM) to buy Five9(FIVN) for $14.7 billion.

Facebook (FB) responds to President Biden’s comments about vaccine misinformation from the social media giants saying they were not reason the 70% vaccination target was missed.

Barron’s + on SPGI AMT BSX BDX ASO AMRS ZY SAP  CHWY

Dividend Increases: UNM

Stock Split:

Higher Guidance: 

Mixed Guidance:

Lower Guidance:

Buyback Announcements:

What’s Happening This Morning: Futures value reflects the change with fair value. 

S&P 500 -52 Dow Jones Industrial Average -501  NASDAQ -157 Russell 2000 -52.  Fair values are mixed. Asia and Europe lower. VIX is at 19.80 from 20 in futures. VIX closed at $17.01 from $16.33. Gold, silver and copper lower. WTI Crude Oil lower and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $134.41 from$133.63 with yields at 1.22% from 1.33% on Friday. Bitcoin at $31101 down -571 or -1.80%.

Friday’s Action – 7/16 Close.  

Positive Sectors On Friday: Utilities and Healthcare of note.

Negative Sectors On Friday: Materials, Energy, Consumer Cyclical and Financials of note.

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

Three Month Winners: Energy, Real Estate and Healthcare of note.

Six Month Winners: Real Estate, Communication Services, Energy and Financials of note.

Twelve Month Winners: Materials, Communication Services, Industrials, Financials and Energy of note.

Year to Date: Energy, Communication Services, Financials, Real Estate and Industrials of note.

Stocks were lower, Bonds lower, U.S. Dollar dollar higher and Commodities were higher ex Silver. Updated 7/16 Close.

Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)

Today After the Close: IBM, PPG, JBHT, CCK, ELS, STLD, ZION, WTFC, FNB of note.

Tuesday Before the Open: PM, HCA, UBS, TRV, SYF, DOV, HAL, KEY, CFG, ALLY, OMC, SBNY, CBSH, SNV of note.

Earnings of Note This Morning:

Beats: AN +2.02, TSCO +0.22

Flat:  none

Misses: CALM (0.35)

Still to Report: PLD

Insider Purchases:  No stocks this morning with heavy short selling.

Above is the list of insider buys from this morning and is sorted by Erlanger Volume Swing (EVS). The idea here is simple. Find stocks where insiders are buying and the shorts are “dumb short sellers”. Updated 7/16

Erlanger Research Advance/Decline Chart –Updated through 7/16 close.  The Market Daily AD Line has dropped below its May low and is about to take out the March low.

Gap Ups & Down In Early Pre-Market:

Gap up: FIVN +9%, REI +4%.

Gap down: RCAT -39%, NCLH -4%, CCL -3%, RCL -3%, SAVE -3%, UAL -3%

Rags & Mags: Highlighted Stories may be clicked through to the original story.  Repeated stories from prior days never listed, i.e. “rehashed news”.

Stocks making the biggest moves AN CALM TSCO AMCX   (CNBC)

5 Things To Know Before The Market Opens. (CNBC)

U.S. reports 39,719 cases, 329 deaths and 17,168 hospitalizations versus a week ago 21,085 cases, 215 deaths and 13,755 hospitalizations.

OPEC+ to adjust overall production upward starting in August.

UK Prime Minister Boris Johnson to isolate for one week after potential COVID-19 exposure.

UK ends most Covid-19 restrictions.

President Biden mulling how to deal with the unvaccinated.

Senators drop IRS Enforcement from bipartisan infrastructure bill.

Johnson & Johnson (JNJ) to spinoff baby powder liabilities into a separate entity and then declare bankruptcy.

Ingersoll Rand (IR) may bid for SPX Flow (FLOW).

Robinhood looks at the Olympic economy. Looks at the week ahead as well.

Index Moving Averages: 7/1 Close – The Confidence Score moves to 60% from 80%.  

Geopolitical:

The President and The Vice President receive the President’s Daily Brief, Oval Office, 10:00 a.m. EST

The President delivers remarks on the economic recovery and the remarkable progress made under his Administration—from 60,000 to 600,000 new jobs per month thanks to the American Rescue Plan—and why we need the Bipartisan Infrastructure Framework and his Build Back Better agenda to sustain that growth in the years to come, State Dining Room, 11:30 a.m. EST

Press Briefing by Press Secretary Jen Psaki, 12:30 p.m. EST

The President and The First Lady welcome Their Majesties King Abdullah II ibn Al Hussein and Queen Rania Al Abdullah of the Hashemite Kingdom of Jordan, and His Royal Highness Crown Prince Al Hussein Bin Abdullah II, to the White House, South Portico, 1:45 p.m. EST

The President and His Majesty King Abdullah II ibn Al Hussein, King of the Hashemite Kingdom of Jordanparticipate in a bilateral meeting, Oval Office, 2:15 p.m. EST

Fed Speakers

Federal Reserve New York President John Williams to speak at 9:00 a.m. EDT.

Economic:

M&A Activity:

Zoom (ZM) to buy Five9(FIVN) for $14.7 billion.

Kite Realty (KRG) and Retail Properties of America (RPAI) to announce merger with RPAI shareholders getting 0.6233 share in each KRG share.

Meetings of Note:

Sellside Conferences: None of note

Company Meetings:  BHP LB KDMN (Update) CBIO (R&D Day) 

Industry Meetings: None of note.

Upgrades & Downgrades: Todays recs see 7 upgrades and 0 downgrades.

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