July 25, 2023 8:16am

Pre-open Indications: 4 Positive

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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8:30 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 +0.04% or (+13 point), S&P futures are UP +0.0.11% or (+5 points) and NASDAQ futures are UP +0.34% or (+53 points) early in the pre-open – so far

U.S. futures were up, beyond mixed and still fluctuating on the low side,

European markets inched higher,

Asia Pacific markets were mostly up

 

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 …

Market gains continue in the markets as the sector got whacked by resistance; as the Dow closed UP +183.55 points (+0.52%), the S&P closed UP +18.30 points (+0.40%) while the Nasdaq closed UP +26.06 points (+0.19%)

Economic Data Docket: Investors are waiting for Chair Jerome Powell’s statements on his outlook for the economy as it tackles inflation.

·         a policy announcement due Wednesday at 2 p.m. ET.

Ebb and flow:

Q3: July - 1 holiday, 9 positive and 6 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

Positive Indications:

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

Blueprint Medicine (BPMC) closed down -$0.33 after Friday’s -$0.26 with a positive +$1.73 or +2.99% pre-open indication.

CRISPR Therapeutics (CRSP) closed down -$1.21 with a positive +$0.88 or +1.59% pre-open indication.

Prime Medicine (PRME) closed down -$0.45 with a positive +0.68 or +4.67% aftermarket indication

Ultragenyx (RARE) closed down -$1.08 with a positive +$0.84 or +1.99% 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!

“A lot of stocks still seem stretched, or are pulling back, often to key support levels. With the earnings flood starting to hit and the Fed meeting on tap, investors may want to be cautious about new buys.” <IBD>

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

Some positive “macro” news, Johnson & Johnson (JNJ), popped Friday +6%, lifted by Q2 earnings beats and a boost to its full-year guidance.

On a weekly basis, the Dow is up more than 2% and on pace for its second positive week in a row.

Last week: Glad I missed some of it … a relatively positive week!

·         Monday closed negative with 4 decliners, 31 decliners and 0 flat

·         Friday closed (7/21) positive with 19 incliners, 14 decliners and 2 flats

·         Thursday closed negative with 9 incliners, 26 decliners and 0 flat

·         Wednesday closed positive with 19 incliners, 15 decliners and 1 flat

·         Tuesday closed positive with 19 incliners, 16 decliners and 0 flats

·         Monday (7/17) closed positive with 18 incliners, 17 decliners and 0 flats

 

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 could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.