June 27, 2023 7:14am

This is the week, June and Q2 are coming to an end while Monday’s aftermarket was weak

Pre-open Indication: 2 Positive, 1 Negative and 1 Sell into Strength

My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday.

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Pre - 8:00 a.m. edition

Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what will happen behind the headlines today, not tomorrow or yesterday

 

Dow futures are DOWN -0.06% or (-19 points), S&P futures are UP +0.20% or (+8 points) and NASDAQ futures are UP +0.48% or (+70 points) early in the pre-open – so far

Stock futures were inching higher Tuesday,

European markets opened slightly higher before falling,

Asia-Pacific markets are mixed.

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Monday, indexes dived as the Nasdaq slumped about 1% with the Dow closing DOWN -12.72 points (-0.04%), the S&P closed DOWN -19.51 points (-0.45%) while the Nasdaq closed DOWN -156.74 points (-1.16%).

Despite Monday’s leg down, the S&P 500 and Nasdaq are still on pace to finish June more than 3% higher, while the Dow is poised for a monthly advance of nearly 2.5%.

Economic Data Docket: home sales, durable goods, and consumer confidence

 

Monday (6/26) close … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector gets ditched again. Time to enter the fray and rescue wounded equities, there’s money to be made.” … https://www.regmedinvestors.com/articles/13019

 

Ebb and flow:

Q2/23 – June: 1 Holiday, 8 negative and 9 positive closes

·         May – 10 negative and 12 positive closes

·         April ended - 1 holiday, 8 positive close and 11 negative closes

Q1/23 –

·         March – ended with 10 positive and 13 negative closes

·         February – 1 holiday, 2 vacation, 7 negative and 8 positive closes

·         January – 2 holidays, 11 positive and 9 negative closes

 

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

Positive indication:

Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Agenus (AGEN) closed down -$0.09 with a positive +$0.03 or +1.83% pre-open indication

Sage Therapeutics (SAGE) closed down -$1.83 with a positive +$0.33 or +0.69% aftermarket indication.

 

Negative Indication:

Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Voyager Therapeutics (VYGR) closed down -$0.11 with a negative -$0.27 or -2.28% pre-open indication

 

Sell into Strength:

Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Intellia Therapeutics (NTLA) closed up +$0.90 after Friday’s -$1.00 with a positive +$0.09 or +0.21% pre-open indication.

 

 

The BOTTOM LINE:

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!

Monday, cell and gene therapy equities closed lower on Monday, as investors became MORE wary of betting on riskier assets.

Eyes will be on updates on home sales, durable goods and consumer confidence due Tuesday, in a big week for economic data. Markets are watching for how the US economy is holding up, as concerns about the Fed's rate hikes tipping it into recession re-emerge.

Adding to uncertainty was the start of Q2’s final week and 1st half of 2023, weeks ahead of the financial reporting season.

However, I believe bottom-feeding is NOW; as the advance-decline lines weakened significantly last week.

Earnings are about to be ready for release – questions are …RUNWAYS on track for further growth?

I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!

Where each of the three (3) major indexes stand:

The Dow:

•             Month-to-date: up 2.5% (on pace for best month since January)

•             Quarter-to-date: up 1.3% (on pace for best quarter since the fourth of 2022)

The S&P 500:

•             Month-to-date: up 3.6% (on pace for best month since January)

•             Quarter-to-date: up 5.3%

The Nasdaq:

•             Month-to-date: up 3.1%

•             Quarter-to-date: up 9.1% (would mark fourth straight positive month) <Source: Alex Harring, CNBC>

 

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.

All investments are subject to risks. Investors should consider investment objectives.

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.

Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

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