Monday, March 08, 2021
The Week Ahead For March 8th to 12th
The S&P 500 and Dow Jones Industrial Average were higher thanks to Friday’s dramatic recovery while the NASDAQ 100 and Russell 2000 were lower last week. The big picture for the NASDAQ 100, S&P 500, Russell 2000 and the Dow Jones Industrial Average are all above their two hundred day moving averages.
Geopolitical and Fiscal Events. This week will be a quiet one. The House will reconcile the Senate Stimulus Bill before sending it on to the President. The ECB will meet on Thursday.
Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as CPI, PPI, Treasury Budget and University of Michigan Consumer Sentiment.
Earnings Releases. Notable releases this upcoming week include CASY SFIX MDB DKS PDD ORCL JD DOCU JKS BKE.
Monday, March 8
The House gets back the Senate’s version of the $1.9 trillion Stimulus Bill. Once the House agrees to the reconciliation it will head to the President’s desk.
Tuesday, March 9
The latest Short Interest Data for the NYSE and NASDAQ is due out after the close through settlement data of February 26th and began on February 12th settlement. The return during this period on the S&P 500 was -0.65%.
Wednesday, March 10
February CPI is due out at 8:30 a.m. EST and is expected to rise to 0.4% from 0.3%.
February Treasury Budget is due out at 2:00 p.m. EST and came in at $-235.3 billion in January.
Thursday, March 11
The European Central Bank (ECB) is out with its latest announcement and meeting.
Colfax (CFX) holds their analyst meeting and is a Type 1 Short Squeeze. The currently has high short intensity moving from 82% to 73%. The Heavy Short Intensity Grade is a 3 with shorts getting squeezed 67% of the time. Currently, the shorts have lost 121.11%. The average return is 34.5% so it has far outperformed its historical average. The average duration of the squeeze is 154 days and so far it has gone on for 227 days.
Quest Diagnostics (DGX) holds their analyst meeting and is a Type 4 Long Squeeze.
Friday, March 12
February PPI is due out at 8:30 a.m. EST and expected to fall to 0.5% from 1.3%. March University of Michigan Consumer Sentiment (Preliminary) is due out at 10:00 a.m. EST and is expected to rise to 80 from 76.8.
Stocks Futures On The S&P 500 Lower By -21
Breaking News: Hedge Fund Manager David Tepper say to buy stocks and rates move over.(CNBC)
Earnings Out After The Close Of Note:
IPOs Priced or News:
New SPACs launched:
Secondaries Priced: None of note.
Notes Priced of note of note.
Common Stock filings: PASG of note.
Selling Shareholders of note: BHVN of note.
Mixed Shelf Offerings: PK STL KOPN RPAY PASG of note.
Convertible Offering Files: None of note.
Summary From The Trade Exchange bringing traders and investors real time news and Squawk Box.
News After The Close:
AT&T (T) fires back at SEC allegations against the company.
Southwest (LUV) receives second and final disbursement of payroll support from U.S. Treasury.
Chinese hackers have hit 30,000 organizations through Microsoft (MSFT) email software per KrebsOnSecurity.
American Airlines (AAL) shut down one engine of a Boeing (BA) 737 Max. (Reuters)
Ocugen (OCGN) releases presentation slides and stock up 16% on Friday’s post market.
Senate passes the $1.9 trillion Stimulus Plan with no $15 wage.
Barron’s + on MYTE VWAGY VIAC HPQ AMAT LRCX and +/- on ROKU PTON ETSY ZM.
Split Announcement: AVNW (2:1)
Stock Buyback New Or Increase:
Insider Buys: (source The Trade Exchange)
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 +2 Dow Jones Industrial Average +91 NASDAQ -61 Russell 2000 +18. Fair values are mixed. Asia lower and Europe higher. VIX is at 26.15 from 27.30 this morning in futures. VIX closed at 24.66 from 28.57 and the three month futures at 27.89 from 30.08.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs Pound and higher vs Yen. US 10 year Treasury price is at $131,84 from $132.22 with the yield at 1.60% from 1.62%. Bitcoin +$50,466.88 @ 50448.77.
Positive Sectors On Friday: Energy, Industrials and Materials.
Negative Sectors On Friday: None of note.
One Month Winners: Energy, Financials and Communication Services of note.
Three Month Winners: Materials, Industrials and Financials of note.
Six Month Winners: Energy, Financials and Materials of note.
Twelve Month Winners: Consumer Cyclical, Technology and Materials of note.
Year to Date: Energy, Communication Services, Financials and Materials of note.
Upcoming Earnings Of: (sorted by market cap, highest to lowest with most visible names)
Earnings This Morning Of Note:
Today After the Close: CASY, SFIX, GOCO, AIV, BNFT, NCMI of note.
Tuesday Before the Open: DKS, THO, CMD, PQG, PLCE, XENT of note.
Erlanger Research Advance/Decline Chart/Table –Updated through 3/5. Breadth gained some traction on Friday.
Gap Ups & Down In Early Pre-Market:
AGLE +11%, ADPT +10%, NBA +8%, CARA +8%, RDNT +6%, SRNE +5%, OCGN +5%
KOPN -7%, NIO -5%, XPEV -4%, IIVI -4%
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Stocks Making The Biggest Moves (CNBC)
Covid-19 Update: Lockdown fatigue causing cases to rise says WHO. (CNBC)
Dr. Fauci surprised U.S. has not seen a surge of the U.K. Covid-19 variant. (NY Times)
Chinese hackers may be responsible for Microsoft (MSFT) attack. (NYT)
Saudi oil facilities attacked by Yemen Rebels. (Bloomberg)
Russians trying to undermine confidence in U.S. Covid-19 vaccines. (WSJ)
Adaptive Biotech (ADPT) gets FDA Emergency Use Authorization for T-Detect to confirm current or prior Covid-19.
Current through 3/5 close. Overall confidence moves from 27% to 53%.
Bold means a change from prior day.
Federal Reserve Speakers Today:
January Wholesale Inventories are due out at 10:00 a.m. EST and estimates are for a rise of 1.3% from 0.3%.
Meetings, Sellside Conferences and Industry Conferences
PERI CI (Investor Meetings)
Sellside Conferences: Deutsche Bank TMT Conference (3/8-10) Citi Global Property CEO Conference (3/8-10)
Upgrades & Downgrades From Sellside Firms – For Up has to be a Buy. For a Down has to be a Sell or Underweight.
Exxon Mobil Corporation (XOM)
by Superstock Investor
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