July 31, 2023 7:28am
And ring in earnings’ releases LPS (loss-per-share) expectation and consensus
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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Pre-open Indications: 1 Sell into Strength, 1 Negative and 1 Positive Indications
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 +0.15% or (+55 point), S&P futures are UP +0.14% or (+6 points) and NASDAQ futures are UP +0.08% or (+12 points) early in the pre-open – so far
Stock futures rose slightly and mixed on Monday,
European markets were mixed,
Asia-Pacific markets rose.
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 rose Friday with the Dow and S&P 500 set to close out their 3rd winning week in a row as the Dow closed UP +176.57 points (+0.50%), the S&P closed UP +44.82 points (+0.99%) while the Nasdaq closed UP +266.55 points (+1.90%).
All three major averages notched weekly gains with the Dow up by about 0.66%. The S&P advanced 1.01%, and the Nasdaq was up 2.02%.
For the month of July, the Dow is up +3.1%, the S&P is up +3% while the Nasdaq has gained +3.8% month to date.
Economic Data Docket: jobs report this week. Economists polled by Dow Jones expect the U.S. economy to have added 200,000 jobs in July. Nonfarm payrolls increased 209,000 in June.
Friday’s (7/28) RegMed Investors’ (RMi) closing bell: “algorithmic enhancement drives upside after downward spiral. As electronic trading initiated by a slowing and soft personal consumption expenditures (PCE) price index rising 0.2% month over month and 3% year over year. Year over year, prices were up 4.1%, a hair below the 4.2% consensus forecast.” … https://www.regmedinvestors.com/articles/13054
Ebb and flow:
Q3: July - 1 holiday, 11 positive and 8 negative close
Q2/23 -
· June -1 Holiday, 8 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
Sell into Strength:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed up +$3.38 after Thursday’s +$0.64, Wednesday’s +$0.24 and Tuesday’s +$1.05, Monday’s -$0.33 with a $0.00 aftermarket (Friday) indication
Negative Indications:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up +$4.42 after Thursday’s -$0.07, Wednesday’s +$1.48, Tuesday’s +$1.14 and Monday’s -$7.75) with a negative -$6.73 or -3.38% pre-open indication
Positive Indications:
Friday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Sage Therapeutics (SAGE) closed down -$0.84 after Thursday’s -$0.41, Wednesday’s -$5.63, Tuesday’s -$2.11 after Monday’s -$0.78 with a positive $0.51 or +1.46% 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!
Quote, “the Nasdaq has had some herky-jerky action on a daily or intraday basis in the past couple of weeks. That's not a big deal for longer-held positions generally, but has made new purchases tricky.” <IBD>
Investors should be careful about adding exposure right now, especially if you are already heavily invested. You could nibble on some new buys, or add a few more shares to winning positions, perhaps trimming some laggards.
“U.S. stock market gains in the first half of 2023 have been rosier than some entire years in the past. This alone raises the risk for a …spill in prices.” <IBD>
Earnings are about to be ready for release – questions are …RUNWAYS on track for further downslides?
Few stocks are flashing buy, with sector names in particular facing a NO news period in the next few days, investors could NOT consider adding exposure.
There's nothing wrong with standing pat in the short run, holding on to sizable existing exposure.
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.
