RegMed Investors’ (RMi) pre-open: Friday’s theme is conjecture as futures fluctuate

December 6, 2019 8:39am

That something, if anything will enhance momentum and just some pricing sustainability as volume sets the pace

Macro focus: November jobs report which was positive (266 K jobs added versus 187 K expected)

News: Stemline Therapeutics (STML) has three upcoming ELZONRIS (tagraxofusp), presentations, including an oral presentation of ELZONRIS clinical data in myelofibrosis, at this year’s American Society of Hematology (ASH) Annual Meeting, that starts tomorrow in Orlando, FL. – should/could create some buzz

Pre-open indications: a settle-up day, BUY - ReNeuron (RENE.L) – the usual roller coaster ride and STML on presentations

Skim if you can trim, buy if it will fly and sell if compelled!

The 6 W’s: Who, what, where, when, why and what of it … so who has done what?

Dow futures are UP +0.18% (+50 points), S&P futures are UP +0.17% (+5 point) and NASDAQ futures are UP +0.28% (+23 points)

Futures on the Dow, S&P and NASDAQ were slightly higher ahead of jobs report;

European stocks moved higher as investors awaited US employment data and monitored trade/tariff developments between as the pan-European Stoxx 600 traded +0.4% higher with almost every sector in the black;

Asia Pacific markets were up even with a rocky start to December amid conflicting headlines on the U.S.-China trade front ahead of a closely watched date of Dec. 15 when additional tariffs on Chinese exports to the U.S. go into effect;

Data Docket: the Labor Department will release nonfarm payrolls for November at 8:30 a.m. ET. Consumer sentiment for December, wholesale trade figures for October and the latest reading of consumer credit will all follow slightly later in the session.

• The data are expected to show strong job growth last month, reflecting a temporary boost from striking General Motors autoworkers returning to work.

Henry’omics:

Yet again, market focus is largely attuned to global trade developments, following an upbeat tone from President Trump.

Jobs numbers beat expectation as was surmised ...

One of the newest “rumor” term, forget “edging”, now we are “inching” closer to a trade deal I think, we are still digging a 10 foot hole to drain the BS!

Last night’s post, “: the sector is what it is, until it isn’t and even then it doesn’t seem to be.”

• The NASDAQ closed UP +4.03 points (+0.05%)
• The IBB closed down -1.54% while the XBI closed down -1.56%
• The close was negative with an A/D line of 9/31, 1 flat, 1 reversed merged (HSGX), 1 dropped (BTX) and 2 acquired;
• The range of the 9 upside was +0.38% (RARE) to +7.35% (MESO) while the 31 downside ranged from -0.02% (CLLS) to -59.67% (BOLD); 
• 3 out of the 9 upside had higher than the 3 month average volume;
• 13 out of the 31 downside had higher than the 3 month average volume;

Review the content of Q4’s market:

• December register 2 negative and 2 positive closes … so far
• November registered 1 holiday, 12 positive and 8 negative close;
• October registered 10 positive, 1 neutral and 14 negative closes;

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.