The Daily Briefing For July 5th: Futures Fall On Job's Data
IPOs on deck for Today: None of note.
Secondaries on deck for Today:None of note.
Notes Priced: None of note.
Common Stock filings: PBR
Mixed Shelf Offerings filed:
Convertible Offering Files:
Courtesy of IPO Financial
Earnings After The Close:
Beat:None of note.
Flat:None of note.
Missed:None of note.
News After The Close:
Baker Hughes (BHGE) Weekly Rig Count moves to 963 (-4).
President Trump nominates Christopher Waller and Judy Shelton to the Federal Reserve Board of Governors.
Stock Repurchases Announced: PFBC
What’s Happening This Morning: Going forward the futures value reflects the change with fair value. We will still indicate the fair value direction.
U.S. futures: S&P -3.50, Dow Jones -19, NDX -9 and Russell 2000 -2.40 with fair values lower. Asia mixed and Europe lower, click through for details by country.
Gold, silver and copper lower. WTI Crude Oil lower and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, Pound and Yen. US 10 year Treasury price $128.14 with yields at 1.96%. Prices as of 8:32 a.m. EDT.
Top Sectors Wednesday: Consumer Goods, Conglomerates, Healthcare and Utilities.
Weakest Sectors Wednesday: None of note.
One Month Winners: Technology, Services and Consumer Goods.
Three Month Winners: Consumer Goods, Financials, Services, and Utilities.
Six Month Winners: Services, Conglomerates, Technology and Conglomerates.
Twelve Month Winners: Utilities, Services, Healthcare and Technology.
Year to Date: All higher led by Conglomerates, Services, Industrials, Technology and Consumer Goods.
Hourly Action This Week:
Last week we saw selling in 4 hours and same this week. Updated through Wednesday close.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: None of note.
Monday Before The Open: AZZ
Earnings This Morning Of Note
Beat: None of note.
Flat: None of note.
Missed: None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top News Story: Preview of June job’s report. (CNBC)
Five Things You Need To Know To Start Your Day (Bloomberg) Topics include Job’s Friday and preview. Big Deutsche Bank (DB) job cuts coming. Lasting trade peace difficult. Markets mixed.
President Trump delivered a unifying message in his 4th of July speech, surprising critics. (CNN)
Sudan’s pro-democracy movement may have come to an end in a deal sharing agreement between the military and opposition group. (CNN)
California had a 6.4 earthquake making it the biggest earthquake in 20 year with 159 aftershocks and counting. (CNN)
Bond yields hit new lows in front of job’s data. (CNBC)
China reiterates that all tariffs must be removed. (Bloomberg)
All indexes remain above their moving averages.
Bold means a change from prior day.
The advance/decline line has improved dramatically and moved to a buy on 6/13. Updated through 7/3/19 close. The buy remains intact. Year to date model up 12.69% on the S&P 500. 3 buy signals and 3 cash signals.
The QPI10 Day Moving Average of Breadth (10DMA) is no longer in cash and moved to invested on 6/13/19.
Courtesy of Quantitative Partners, Inc.
YTD 71% (+2% week over week) of stocks are higher and 29% are lower. Updated 6/28/19 close with next update on 7/5/19 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 Wednesday close. We have been seeing strength since last Thursday.
Courtesy of Phil Erlanger Research
The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS CS:ERLA
Economic & Related:
June Nonfarm Payrolls out at 8:30 a.m. EDT and were expected to rise to 147,000 from 90,000. Actual 224,000. Small downward revisions for May and April.
The June Unemployment Rate is expected to remain at 3.6%.
President Trump heads to Trump National Golf Club in Bedminster, NJ for the weekend.
Sunday sees Greece hold snap elections.
Conferences & Analyst Meetings:
Analyst Meetings/Notable Conference Call: None of note.
Sellside Conferences: None of note.
Industry Conferences: International Society on Thrombosis and Haemostatis Congress 2019.
Northstar Realty Europe (NRE) to be acquired by AXA Investment Managers – Real Assetsfor $17.03.
Upgrades & Downgrades:
Early Morning Gap Up/Down:
Gap Higher: KPTI +16%, AVGR +7%.
Gap Lower: RIO -4%, BBL -4%, BHP -4%.