The Daily Briefing For March 9th: Circuit Breakers In Effect Today

by Geoff Garbacz | 03/09/2020 11:03 AM

Rebel Yell Morning Market Report

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The Daily Briefing For March 9th: Circuit Breakers In Effect Today

Breaking News: 

IPOs on deck: None of note.

IPOs Filed:  None of note.

Secondaries Priced: None of note.

Notes Priced of note: None of note.

Common Stock filings:  CMG of note.

Mixed Shelf Offerings: LAND OVV DVN TCRR of note.

Convertible Offering Files: Note of note.

Senior Notes Filed: None of note.

Courtesy of IPO Financial

Earnings After The Close:

Beat: 

None of note.

Missed: 

None 0f note.

Hourly Action This Week: Updated 3/5 Close

News After The Close (In Order of Time)

Apollo Global (APO) rumored to make a bid for TEGNA (TGNA) in the 20a.

FAA looks to fine Boeing (BA) $19.7 million for faulty 737 sensors installation.

South by Southwest cancelled due to coronavirus.

President Trump names Rep Mark Meadows as his new Chief of Staff.

Lowers Guidance: PKI

Withdraws Guidance: PEB

Stock Buybacks: 

Dividend Increases: SUI

Dividend Decreases: 

Gap Higher: KALA +15%, TLT +8%, ARDX +5%,

Gap Lower: OVV -27%, DVN -25%, FANG -24%, USO -22%, HAL -22%, SLB -18%, BP -17%,  XOM -12%, RDS.A -12%, TOT -11%,  PSX -6%, IWM -6%, QQQ -6%, DIA -6%, AYX -5%,

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. 

S&P 500 -151 Dow Jones Industrial Average -1304  NASDAQ -435 Russell 2000 -72. Fair values are  higher. Asia and Europe lower.

Gold higher with silver and copper lower. 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 $140.17 from $137.63 and yields at 0.429% from 0.77%.  Prices as of 8:20 a.m. EDT.

Positive Sectors On Friday: None of note

Negative Sectors On Friday: All lower lead by Materials, Energy, Conglomerates and Financials.

One Month Winners: None of note.

Three Month Winners: Conglomerates and Utilities.

Six Month Winners:  Technology, Healthcare and Consumer Goods.

Twelve Month Winners: Technology, Consumer Goods,Utilities, Services and Healthcare.

Year to Date: Conglomerates and Utilities.

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

Today After The Close: None of note.

Tuesday Before The Open:  of note.

Earnings This Morning Of Note

Beat: 

CYOU +0.53, ANAB +0.05 of note.

Missed:

KLXE (0.28), THO (0.19), SOHU (0.05), SOGO (0.01) of note.

Still to Report: 

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

Top News Story: NYSE haulted overnight trading as S&P 500 futures were lower by -5%.  Trading halts potentially for today are at -7% from Friday’s close, -13% and -20%. There will be 15 minutes breaks after a -7% and -13% drop and after -20% markets will close. (CNBC)

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

Stocks Moving This Morning. (CNBC)

Coronavirus update: Worker at Disneyland Paris tests positive. (CNBC)

Coronavirus Map. (Bloomberg)

Federal Reserve to increase repo operations to $150 billion from $100 billion. (CNBC)

Saudis slash the price of oil as well as increasing production and now at $32 down -22%. (CNBC)

The entire yield curve is now under 1.00%. (CNBC)

Senator Corey Booker (D -NJ) endorses Democratic Candidate Joe Biden.

Senator Ted Cruz (R – TX) will self quarantine after being exposed at CPAC. (CNBC)

Stock Index Tracking

Current through 3/6 close.

Bold means a change from prior day.

The advance/decline line model is now back in cash. Updated through 3/6 close. In 2019, the model was up 16.48% on the S&P 500 and this year is down -7.64% with the S&P 500 lower by -6.83% before today. 5 buy signals and 4 cash signals in 2019. We moved to cash at 3116.31 on the S&P 500.

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 3/5 close.

Courtesy of Phil Erlanger Research, Inc.

Economic & Related:

No releases of note today. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as NFIB Small Business Optimism Index, CPI, PPI and University of Michigan Consumer Sentiment.

Geopolitical:      

President Trump will be fundraising in Florida today and back in Washington D.C. at 3:45 p.m. EDT.

Meetings, Calls & Conferences

Investor/Analyst Days & Conference Calls of Note: HA  (Conference Call) BVN HA  (Investor Day)  

Sellside Conferences: Deutsche Bank dbAccess 28th Annual Media, Internet and Telecom Conference (3/9-3/11)

Industry Conferences: None of note. CERAWeek 2020.

M&A Activity

Aon (AON) and Willis Towers Watson (WLTW) combine in all stock deal.

Upgrades & Downgrades updated through 8:45 a.m. EDT.

Mar

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