May 8, 2020 7:33am
33 million unemployed, 75 thousand dead as COVID-19 cases continue to rise. So, let’s distance our way through, as the sector has been oversold on fear hoping the October to December (Q4) period will be sustainable for equities. In the interim, the sector is what it is, until it isn’t - trade through the short-term for portfolio return
News: Pluristem Therapeutics (PSTI) the U.S. FDA has cleared its IND application for a P2 study of its PLX cells in the treatment of severe COVID-19 cases complicated by Acute Respiratory Distress Syndrome (ARDS) with a fluctuating positive of +$1.90 or +22.38% pre-market indication
What I provide is an “intelligence daily” to inform the RegMed/cell and gene therapy sector and its investors utilizing indication and warning analysis. Check the BOTTOM LINE <read more>
Dow future are UP +1.01% (+242 points), S&P futures are UP +1.06% (+31 points) and NASDAQ futures are UP +1.05% (+95 points)
U.S. stock futures climb as U.S.-China trade reps held a call and markets admit to and accept an odious jobs report while the Nasdaq erased all of its losses for 2020;
European stocks traded higher as U.S.-China relations and the economic impact of the coronavirus remained in focus with Germany’s DAX up 0.8%, France’s CAC 40 spinning 0.7% higher and Italy’s FTSE MIB popping 0.5%;
Asia Pacific sticks rose ahead of the release of the U.S. jobs report for April as Japanese stocks led gains among the region’s major markets, mainland China soared and South Korea’s in tandem with Australia’s S&P/AUX200 advanced as he MSCI Asia ex-Japan index gained 1.07%.
Data docket: The Labor Department said a record 20.5 million jobs were lost last month, adding the unemployment rate jumped to 14.7% from just 4.4%. Both the spike in job losses and the unemployment-rate surge are post-World War II records. To be sure, neither print was as bad as feared. Economists polled by Dow Jones expected a loss of 21.5 million jobs and an unemployment rate of 16%.
The gains earlier on Thursday put the Nasdaq up 35.4% from its March 23 low. The S&P 500 has also rallied 31.5% in that time.
Thursday’s move higher came even after the release of weekly jobless claims data showing more than 33 million Americans have filed for unemployment benefits over the seven (7) week period ending May 2.
Markets have expected and built-in the jobless rate as an extreme burden that just has to be distanced, hopefully tested and vaccine developed through as we reopen American business!
I started early ... to marinate the olives and chilling a martini glass to TGIF!
Thursday night’s title: “: Confidence perceived is not always value achieved. When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started.”
- The NASDAQ closed UP +125.27 points (+4.41%);
- The IBB closed up +0.13% and XBI also closed up +0.15%;
- Thursday closed negative at 11/22 and 2 flats;
- The % of the 11-upside were +0.58% (STML) to +17.73% (RENE.L) while the 22-downside ranged from -0.27% (SAGE) to -15.87% (AXGN);
- 3 out of the 11-upside had higher than the 3-month average volume;
- 9 out of the 22-downside had higher than the 3-month average volume;
- May registered 2 negative, 3 positive closes
- April registered 10 negative, 11 positive closes and 1 holiday.
- March registered 11 negative, 10 positive closes and 1 neutral close.
- February registered 9 negative, 9 positive closes, 3 vacation days and 1 holiday.
- January registered 9 negative, 10 positive closes and 2 holidays.
Companies in my headlights – It’s your decision; I provide an idea and context:
I’m staying relatively quiet today and will let the sector steer itself within market currents although new from Pluristem (PSTI) which closed down -$0.61 deserves much credit on its advancement … BUY
- Referencing the title … PSTI has a positive +$1.90 or 22.38% pre-market indication;
- The objective of the study is to evaluate the efficacy and safety of one or two intramuscular (IM) injections, in three different dosages, of PLX-PAD for the treatment of ARDS resulting from COVID-19. The primary endpoint determination will be performed at the end of the 28-day main study period;
- Safety and survival follow-up will be conducted at week 8, 26 and 52. Pluristem has been treating patients suffering from severe complications caused by COVID-19, such as ARDS and inflammatory complications, in the U.S. and Israel through compassionate use programs;
- Preliminary data from these compassionate use programs in Israel was reported on April 7, 2020.
- A Clinical Trial Authorization (CTA) has also been filed in Europe for a P2 COVID-19 trial, with the first European clinical sites planned in Germany and Italy.
The BOTTOM LINE: Welcome to the chaotic world of investing vulnerability. Until markets return to normal, “divining” the daily session could be deemed no better than playing baccarat or chemmy. In these related games, basic baccarat the house is the bank while playing chemin de fer (or chemmy) the bank passes from player to player (or as I surmise trader against algorithms).
I’ve earned the trust of an igniting number of readers by generating performance and my commitment to never leave an investor uninformed.
I may not always be right but, I am never totally wrong!
I practiced that role with objectivity utilizing indication analysis… an indication can be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, or an absence of “something”, a fragment of information or even an observation. The sole provision is that it provides insight to provide some vision into a likely course of action.
Bottom line it’s still about risk versus return; whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
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.