Tuesday, January 19, 2021
The Week Ahead For January 18th to 22nd
The S&P 500, Dow Jones Industrial Average and NASDAQ 100 were lower last week. Only the Russell 2000 was higher last week.
1.Geopolitical and Fiscal Events. This week sees President-Elect Joe Biden become President Joe Biden on Wednesday. Otherwise a quiet week with the exception of Treasury Secretary Janet Yellen’s confirmation hearing.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as NAHB Housing Market Index, housing starts, Philadelphia Federal Reserve Index and existing home sales.
3.Earnings Releases. Notable releases this upcoming week include LOGI BAC NFLX UNH PG INTC UNP SLB EDU.
Monday, January 18
All markets in the U.S. are closed Martin Luther King Holiday.
Tuesday, January 19
The Senate will hold the confirmation hearing of incoming Treasury Secretary Janet Yellen.
Wednesday, January 20
January NAHB Housing Market Index is due out at 10:00 a.m. EST and is expected to remain at 86.
President-Elect Joe Biden will be sworn in as the 46th President of the United States.
Thursday, January 21
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.
Friday, January 22
December Existing Home Sales are due out at 10:00 a.m. EST and is expected to fall to 6,500,000 from 6,690,000.
Stocks Futures On The S&P 500 Higher By +26
Total Cases 23,778,275 from 23,627,890
Deaths 390,262 from 388,869
New Tests 2,079,206 from 1,836,498
New Cases 150,385 from 185,518 with positivity rate of 7.2% (down 2.9)
Daily Deaths 1,393
Current Hospitalizations 123,848 from 124,387
Secondaries Priced: None of note.
Notes Priced of note: None of note.
Common Stock filings: CRSP PRPH SENS of note.
Selling Shareholders of note: KERN of note.
Mixed Shelf Offerings: SOL EYPT KIN of note.
Convertible Offering Files: None of note.
Earnings Out After The Close Of Note:
News After The Close:
Lockheed Martin (LMT) wins $250 million Missile Defense Contract.
Index Changes TRMB to S&P 500, YETI to S&P 400 and HTH to S&P 600.
Barron’s + on TOL MMM +/- on GME INTC. Also, first week of the Roundtable.
Stock Buyback New Or Increase:
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.
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +28 Dow Jones Industrial Average +219 NASDAQ +107 Russell 2000 +29. Fair values are lower. Asia higher ex Shanghai and Europe higher. VIX is at 25.45 from 24.90 this morning in futures. VIX closed at 24.34 from 22.21 and the three month futures at 27.26 from 25.55.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $136,75 from $136.81 with the yield at 1.10% no change.
Positive Sectors On Friday: Real Estate, Utilities and Healthcare of note.
Negative Sectors On Friday: Energy, Materials and Financials.
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: NFLX, IBKR, JBHT, ZION, PNFP, PACW, FNB, UCBI, FULT of note.
Wednesday Before the Open: UNH, PG, ASML, MS, USB, BK, FAST, CFG, TDY, CBSH, BOKF of note.
Earnings This Morning Of Note:
Beats: GS +4.72, LOGI +1.11, CMA +0.30, CTXS +0.12, SCHW +0.10 ONB +0.08, BAC +0.05, HAL +0.04
Misses: STT (0.16)
Still to Report: SCHW
Erlanger Research Advance/Decline Chart – Updated 1/15 Close. Friday was a struggle.
Gap Ups & Down In Early Pre-Market:
GRTS +45%, COHR +35%, MTCR +14%, SSP +9%, CYAD +8%, GRFS +8%, MRUS +7%, WU +7%, TRQ +6%, ALLT +5%, LOGI +4%, SOL +4%, SKYW +4%, FSM +4%
PRPH -20%, BHVN -10%, AGIO -7%, LITE -7%, SENS -6%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Today’s Analyst Calls of note – FB DKNG PTON TSLA. (CNBC)
5 Things To Know Before The Open – (CNBC)
Stocks Making The Biggest Moves – GS BAC GE (CNBC)
Covid Update – Germany finds another strain oc Covid-19, U.K. uses blockchain to track temperatures. (CNBC)
Republicans will fight the $1.9 Biden Stimulus Plan and 60 votes will be needed. (The Washington Post)
Once president, Biden on Wednesday will put forth Executive Orders dealing with mask mandate, student loans and the Paris Accord. (NYT)
Peloton (PTON) deliver delays are becoming a concern. (NYT)
Lumentum (LITE) looking to buy Coherent (COHR). (WSJ)
IEA cut oil demand outlook for 2021. (CNBC)
Stock Index Trading:
Current through 1/15 close. Overall confidence moves to 63% from 87%.
Bold means a change from prior day.
The Senate will hold the confirmation hearing of incoming Treasury Secretary Janet Yellen. Several other National Securtity and significant cabinet positions will start hearings as well.
Weekly API Petroleum Data is due out at 4:30 p.m. EST.
Investor Meetings & Conferences of Note:
FREQ HOG (Investor Event) BHP (Update) UTHR CBIO KBR (Webinar)
Sellside: UBS Greater China Conference (1/18-1/22) Bank of America Energy, Battery, Storage Conference (1/19-1/20) Jefferies Winter Restaurant, Foodservice, Gaming. Lodging & Leisure Summit (1/19-1/20) Stifel Seniors Housing and Healthcare Real Estate Conference (1/19) Cannacord Canadian Tech (1/19)
Upgrades & Downgrades of Note This Morning: Note that downgrades are increasing first two weeks of the year.
Bank of America Corp (BAC)
by Superstock Investor
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