September 30, 2019 8:20am

September comes slowly to an end along with Q3/19, so far has 1 holiday, 11 negative, 6 positive and 2 non reported sessions and 1 to go

Luck be a lady today, I’m still of the opinion, the oversold need a response

Financing: CRISPR gene editing startup Beam Therapeutics plans $100M IPO. Mere months after raising $135 million from investors, another gene editing startup co-founded by MIT researcher Feng Zhang is preparing to go public.

The sector is what it is, until it isn’t and even then it doesn’t seem to be … that is after a deep breath

 

My version of the morning’s numbers is written to be informative than just about changes to fundamentals; it’s what happened or will beyond the headline and what could happen to the close

 

Dow futures are UP +0.23% (+62 points), S&P futures are UP +0.30% (+9 points) and NASDAQ futures are UP +0.42% (+33 points)

 

U.S. stock index futures are rising on Monday, the last day of September, as investors kept an eye on the latest trade developments between the U.S. and China;

European stocks reversed early losses to trade slightly higher, with market focus attuned to developments in the U.S.-China trade war while the pan-European Stoxx 600 edged up by around 0.1% in early trade;

Asia Pacific stocks were mixed with and because of better-than-expected Chinese manufacturing activity; the Caixin/Markit factory Purchasing Managers’ Index (PMI) came in at 51.4 for September, above expectations of 50.2 along with the official Chinese manufacturing Purchasing Managers’ Index (PMI) for September also came in above expectations, but still showed a contraction.

 

Data docket: Chicago PMI figures for September are due at 8:45 a.m. ET and Dallas Fed manufacturing index data will be published at 9:30 a.m. ET.

 

Henry’omics:

Wall Street ended lower last week on reports that the White House is considering limiting U.S. investment into China, including a possible delisting of Chinese companies from U.S. stock exchanges, in a further escalation of the ongoing trade dispute between the world’s two largest economies <CNBC>.

From the title, “CRISPR gene editing startup Beam Therapeutics plans $100M IPO

  • The two-year-old startup is one of multiple local companies hoping to leverage the tool CRISPR to alter the genetic causes of disease. It is one of multiple such companies Feng Zhang has helped get off the ground since becoming one of the founding fathers of gene editing — a designation which MIT’s Broad Institute and the University of California at Berkeley continue to fight over.
  • It has quickly grabbed the attention of investors at Arch Ventures, F-Prime Capital and Chinese investor Lei Zhang, among others, raising more than $220 million over two funding rounds.
  • Beam is going after an array of diseases, including acute myeloid leukemia, sickle cell disease and vision loss caused by Stargardt disease. The company has also signed its first collaboration with fellow Cambridge startup Verve Therapeutics to tackle the leading cause of death, coronary artery disease <Allison DeAngelis, BBJ>.

 

I’d string along with the electronic machines today … hoping they move to the upside of which I anticipate!

An epistle from a non-saint Henry, “CEOs should be re-thinking a motto: “Duty, Honor and Shareholders” – many have forgotten who they really work for!

 

Friday night’s newsletter headline, “another session of sorrow as the wall of worry heightens with three (3) negative closes ending the week”

  • The NASDAQ closed down -91.03 (-1.13);
  • The IBB closed down -0.78% while the XBI closed down -0.59%;
  • The close was negative with an A/D line of 14/27, 2 flats and 2 acquired;
  • 4 out of the 14 upside had higher than the 3 month average volume;
  • 13 out of the 27 downside had higher than the 3 month average volume;
  • September, so far has 1 holiday, 11 negative, 6 positive and 2 non reported sessions and 1 to go;

 

Look for some upside that DOESN'T last to the mid to end of the new month of October!

 

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

***As to the electronic machine trading cycle, jump when they jump, fold when they hiccup and run before they cause a run-down****

 

 

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.