January 24, 2020 7:48am

Fear begets pain, lower gain as good clinical data that is positive gets totally sold into that “ain’t” good for the sector

There will be some upside for the oversold and down side of the overbought

Pre-open indications:  SELL – 3 and BUY – 6

My version of the morning’s numbers is written to be informative; it’s includes what happened or will beyond the headline and shapes today’s markets as seen by RMi - SUBSCRIBE

 

Dow future are UP +0.23% (+68 points), S&P futures are UP +0.18% (+6 points) and NASDAQ futures are UP +0.27% (+25 points)

 

U.S. stock index futures moved higher on Friday morning;

European stocks bounce as WHO says no ‘global emergency’ yet for China virus; data offers relief as the pan-European Stoxx 600 jumped 1.2% by mid-morning;

Asia Pacific stocks edged slightly higher on Friday, with the MSCI Asia ex-Japan index climbing +0.13% while Japan’s Nikkei also added +0.13%.

 

Data Docket: manufacturing figures for January are due at 9:45 a.m. ET. Friday morning saw a raft of flash PMI (purchasing managers’ index) figures released, which showed euro zone business activity remaining weak to start the year but offered some glimmers of hope which boosted European stock markets.

 

Henry’omics:

Global equities have been subdued recently by fears of the China coronavirus spreading, with the death toll rising to 26 and the number of confirmed cases increasing to 830. The virus originated in China, but cases have also been reported in the U.S., Japan, and South Korea.

The World Health Organization on Thursday called the outbreak an “emergency in China,” but stopped short of saying it constituted a global public health emergency <CNBC>.

 

TGIF, save me from idiocy ...  I am marinating the stuffed olives for a clear potato based beverage and a chilled glass – one “tuner” on demand to numb my braincells if there are any left!

 

Thursday night’s post’s title:  “a negative close, after a positive following a negative close and a holiday.”

  • The NASDAQ closed UP +18.71 points (+0.20%);
  • The IBB closed down -0.87% and XBI closed down -1.30%
  • The range of the 13 upside was +0.25% (XON) to +6.76% (ADRO) while the 21 downside ranged from -0.43% (STML) to -15.11% (AGTC);
  • 5 out of the 13 upside had higher than the 3-month average volume;
  • 5 out of the 21 downside had higher than the 3-month average volume;

 

Review ...

Q1:

January registered 8 positive, 5 negative closes and 2 holidays, to date.

Q4:

  • December register 11 negative and 10 positive closes
  • November registered 1 holiday, 12 positive and 8 negative close;
  • October registered 10 positive, 1 neutral and 14 negative closes;

 

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

Pre-open indications:  Maintaining Sell – AGTC, RENE.L and MESO again on strength; BUY – RENE.L, QURE, SAGE, BLUE, GBT and AXGN

 

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.