August 7, 2019 8:03am

NASDAQ futures were initially higher and now slipping, I’d espouse restraint

Earnings’ central: they keep coming, a few on docket with the Regenxbio (RGNX) and Sangamo Therapeutics (SGMO)

Framing the week’s headlines, market disruption and earnings!

 

The remainder of the month’s trading sessions will be critical for the RegMed sector which will establish whether expectation of August and quarter’s (Q2) reporting initiate tumultuous value propositions. 

 

Dow futures are DOWN -1.12% (-290 points), S&P futures are DOWN -1.21% (-35 points) and NASDAQ futures are DOWN -1.20% (+91 points)

 

U.S. stock index futures were dramatically slipping amid simmering trade tensions between the world’s two largest economies;

European stocks were higher with the pan-European Stoxx 600 up +0.8% during morning trade;

Asia pacific shares were mixed as China sets the yuan midpoint slightly weaker than expected

 

Data docket: weekly mortgage applications are expected at 7 a.m. ET, while consumer credit figures for June will be released at 3 p.m.

 

Henry’omics:

In our “universe” of cell and gene therapy; pricing sensitivity is being driven by factors other than fundamentals.

Earnings’ reporting continues, I had previously stated Q2 wouldn’t light any fires of share pricing; the real question to ask is who is “guiding” to what?

Cash position are also slipping within the usual progression however, “runways” remain a toll of share pricing measurement!

 

From Tuesday’s evening post, “the sector recuperated after a bad session; the key for the week is pricing stabilization as the sector bypasses earnings’ results, think portfolio defense.”

•             The NASDAQ was up +107.22 or +1.39% to 7,833.27;

•             The IBB closed up +1.42% and the XBI closed up +2.20%;

•             The close was positive with an A/D Line of 32/10 and 1 flat and 2 acquired;

•             The range of the 32 upside was +0.20% (VYGR) to +17.40% (STML) while the 10 downside ranged from -0.01% (BMRN) to -4.62% (BLCM);

•             10 out of the 32 upside had higher than the 3 month average volume;

•             2 out of the 10 downside had higher than the 3 month average volume;

 

August has 2 POSITIVE and 2 NEGATIVE closes, so far

 

Companies in my headlights – It’s your decision; I provide an idea and context:

*** Rapid inclines are usually followed by declines ***

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.