The Daily Briefing For July 1st: Futures Rebound On Pfizer Vaccine News

by Geoff Garbacz | 07/01/2020 9:43 AM

Rebel Yell Morning Market Report

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The Daily Briefing For July 1st: Futures Rebound On Pfizer Vaccine News

Breaking News: Pfizer (PFE) puts out positive Coronavirus vaccine data on a small cohort of 24.

IPOs on deck:  None of note.

IPOs Filed: None of note.

Secondaries Priced: XLRN DNB CRSP TA AHCO of note.

Notes Priced of note: None of note.

Common Stock filings: DENN CHMA CPK  of note.

Mixed Shelf Offerings: HHR of note.

Convertible Offering Files:  None of note.

Senior Notes Filed:  None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat:  

FDX +0.91 of note.

Misses: 

HTHT (0.42), SCS (0.04) of note.

Hourly Action This Past Week: Updated 6/29 Close

News After The Close (In Order)

FedEx (FDX) beats estimates but does not give 2021 guidance.

Motorola Solutions (MSI) names Jason Winkler as CFO.

Whirlpool (WHR) to reduce workforce.

Facebook (FB) issues a ban on accountstied to “boogaloo movement”.

Microsoft (MSFT) rumored to offer a less expensive XBox Series S in August.

Senate passes, led by Democrats, extension of PPP through August 8th.

Raises Guidance: SRE

Dividend Raise: SCS

Share Repurchase Announcement: 

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.

S&P 500 +1  Dow Jones Industrial Average -2 NASDAQ +2  Russell 2000 +1 . Fair values are mixed.  Asia  and Europe mixed.

Gold, silver and copper lower. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and lower vs Yen. US 10 year Treasury price is at $139 from $139.30 with yields at 0.635%.

Positive Sectors On Tuesday:  Technology, Materials and Healthcare of note.

Negative Sectors On Tuesday:  None of note.

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

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

Six Month Winners:  Technology and Consumer Cyclical of note.

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

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

Gap Up: TTOO +68%, AKRO +41%, MNOV +11%, FDX +10%, BYND +8%, CDMO +6%, UPS +4%, SNN +4%, SRE +4%

Gap Down: CHMA -18%, DENN -12%, TA -9%, SCS -7%

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

Today After The Close:  HTHT FIZZ of note.

Thursday Before The Open: KFY GBX LNN of note.

Earnings This Morning Of Note

Beat:

M +0.47, STZ +0.40, GIS +0.22 of note.

Missed:

 CPRI (0.05) of note.

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

5 Things To Know To Start Your Day. (Bloomberg)

Stocks making the biggest moves. (CNBC)

5 Things To Know Before Wednesday Open. (CNBC)

Coronavirus Update: Germany sees recovery, Ryanair sees strong bookings. (CNBC)

U.S. Coronavirus Map.

35 states seeing increase in Covid-19 cases with only two states showing declines. (NYT)

Protests restart in Hong Kong as National Security Law passed by China being enforced. (CNN)

President Trump tweets he is becoming “more and more  angry” with China over Coronavirus. (Twitter)

Macau Gaming Inspection and Coordination Bureau sees revenues down -97%.

400 advertisers leave Facebook (FB) as of today. (Reuters)

United Airlines (UAL) takes up August flights by 25,000.

Stock Index Tracking

Current through 6/30 close.

Bold means a change from prior day.

The advance/decline line model moved to cash Tuesday morning as there had been two days in a row below -200. We needed two days below -200 for a change and we finally got it. Updated through 6/30 close. In 2019, the model was up 16.48% on the S&P 500 and this year is up 5.82% with the S&P 500 lower by -4.04% through 6/30. Now 6 buy signals and 4 cash signals in 2019 and 2020. The last buy gained 12.89%.  The current buy signal finished up 0.57% through 6/29.

This will be our last week that the advance/decline line appears in the model so reach out to your sales person if you have an interest in continuing to see the model. We will replace this model with another timing model we use.

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. Updated through 6/29 close. EVL Ranges  continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App  store at APP(GO).

Courtesy of Phil Erlanger Research, Inc.

Economic

API Petroleum Institute Weekly Data was out at 4:30 p.m. EDT yesterday and saw the biggest draw of the year, 8.156 million barrels. Gasoline drew by 2.459 million barrels.

MBA Mortgage Applications were out at 7:00 a.m. EDT and fell 1.8% week over week but still up 15% year over year.

June ADP Employment is due out at 8:15 a.m. EDT and is expected to fall to 3 million from 3.9 million. Came in at 2.37 million missing estimates.

June ISM Manufacturing is due out at 10:00 a.m. EDT and is expected to rise to 49.2 from 43.1.

May Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 1.1% from -2.9%.

Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.

The latest Federal Reserve Open Market Committee (FOMC) Minutes are due out at 2:00 p.m. EDT.

Geopolitical & Related

President Trump has a quiet day and the only event on the calendar – lunch with the Secretary of State at 1:15 p.m. EDT.

Meetings, Calls & Conferences

F MXCYY (Investor Meeting) BMTM (Webinar) PEB (Conference Call)

Sellside Conferences: UBS Latin America Consumer Conference (7/1)

Industry Conferences: Mines & Money EMEA Online Connect 2020 (6/30-7/2)

M&A

None of note.

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