July 10, 2023 7:43am
Brace for the start of Q2 earnings season
Pre-open Indication: 1 Positive and 1 Negative Indications 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 yesterday with a bit for tomorrow.
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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 UP +0.11% or (+33 points), S&P futures are DOWN -0.06% or (-2 points) and NASDAQ futures are DOWN -0.25% or (-37 points) early in the pre-open – so far
Stock futures were LO#W and DOWN on Monday,
European markets are mixed,
Asia-Pacific markets are mixed as China’s June inflation data miss expectations.
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 …
Indexes got deflated on Friday as the Dow closed DOWN -187.38 points (-0.55%), the S&P closed DOWN -12.64 points (-0.29%) while the Nasdaq closed DOWN -18.33 points (-0.13%)
All three major indexes posted losses last week as a result; the S&P 500 was down -1.16, while the Nasdaq -0.92% and Dow -1.96%.
Economic Data Docket: inflation data on consumer price index report is due on Wednesday and the producer price index on Thursday
Friday, July 7, 2023, RegMed Investors’ (RMi) closing bell: “old uncle algorithms came to visit. Any buys that lift the cell and gene therapy sector is good by me>” … https://www.regmedinvestors.com/articles/13035
Ebb and flow:
Q3: 1 holiday, 2 positive and 2 negative close
Q2/23 -
· June -1 Holiday, 9 negative and 11 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
Negative Indications:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed up +$0.32 after Thursday’s -$2.76 and Wednesday’s +$0.53 with a negative -$1.79 or -2.99% pre-open indication.
Positive Indications:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Caribou Therapeutics (CRBU) closed up +$1.32 after Thursday’s +$1.86 with a positive +$0.52 or +7.16% pre-open indication
Sell into Strength:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Sage Therapeutics (SAGE closed up +$0.17 after Thursday’s -$1.55 and Wednesday’s -$1.03 with a negative -$1.68 or -3.67% aftermarket 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!
Stocks were setting up to open lower Monday, kicking off a week where the focus will be on inflation, interest rates and the start of the second-quarter earnings season.
We need to fathom the possible on-going confluence of the political impact of White House dramas.
NOT feeling GOOD about the week – that means BAD. I am also maybe going lighter this week (on writing) to TRY to get a vacation day or more just slow it down.
Earnings are about to be ready for release – questions are …RUNWAYS on track for further growth?
"Time in the market is better than timing the market" is investing wisdom that's maintained its relevance for a reason.” <Nasdaq>
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!
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.
