June 12, 2024 7:51am

A short thriller with a scrip created to manage political/financial TV reality for dystopian fiction

June’s Fed policy meeting concludes with an interest rate or no-cut policy decision befitting … or not our universe of cell and gene therapy companies

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported; though it increased 3.3% from a year ago, according to the department’s Bureau of Labor Statistics.

A daily analytic read-out from RMi is constructed of specific warnings challenging share pricing situations

Never leave an investor uninformed

Remember that overnight and pre-open actions’ futures and markets doesn't necessarily translate into actual trading in today’s market session.

 

Wednesday: The pre-open Dow futures are UP +0.65% or (+253 points), the S&P futures are UP +0.77% or (+41 points) as the Nasdaq futures are UP +0.99% or (+189 points)

Stock futures climbed slightly Wednesday,

European markets were higher,

Asia-Pacific markets were mixed.

 

Henry’omics:

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

Tuesday: The Dow closed DOWN -120.62 points or -0.31%, the S&P closed UP +14.53 points or +0.27% while the Nasdaq closed UP +151.02 points or +0.88%

Economic Data Docket: May’s consumer price index print, a broad measure of goods and services costs is forecasted to show just a 0.1% increase from April and a 3.4% rise on a year-over-year basis.

 

Q2/24: 

June – 3 positive and 4 negative closes

  • May – 1 holiday, 11 positive and 11 negative closes
  • April - 16 negative and 6 positive closes

 

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

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

 

Yet again, I am passing on forecasting of daily indications that have focused on inflation-oriented May’s CPI report. The Fed also will release its latest economic projections as well as policymakers' "dot-plot" rate outlook with their resulting “numbers.” The aftermarket fluctuated as the pre-open waits for the all-clear alarm …  it is still a mix of ups, downs and just unknowns.

Keep your eye on:

Regenxbio (RGNX) closed -$0.;13, pre-open -$0.18 on change of management

Mereo BioPharma Group plc (MREO) and Ultragenyx Pharmaceuticals (RARE) closed down -$0.57 on news of positive 14-month results from the Phase 2 portion of the ongoing Phase 2/3 Orbit study (NCT05125809) demonstrating that, as of a May 24, 2024 data cut-off date, treatment with setrusumab (UX143) continued to significantly reduce incidence of fractures in patients with OI with at least 14 months of follow-up. Treatment with setrusumab also resulted in ongoing and meaningful improvements in lumbar spine bone mineral density (BMD) at month 12 without evidence of plateau.

 

The BOTTOM LINE: I STAY a little bit more than skeptical this week.

Today’s TV policy statement at 2 p.m. ET will be followed by Fed chief Powell at 2:30 p.m. The Fed's latest economic projections and policy Like the makers' updated "dot plot" rate outlook will be key, along with Powell's comments.

 

Like the “Truman Show” Burbank (played by Jim Carrey and now Jerome Powell) is a man who is unaware that he is depending his Fed life on a big lie and short plank of spending in the Biden administration “soundstage” and he is being cast as a shrill apologist in a reality television show which has a huge international following.

  • Why does he, Jerome sustain the illusion of non-stop spending and keep investors in the dark without articulating the administration’s spending fiction he is supposedly managing.
  • Powell (Truman) at the end of speaking will look around the stage leading to an exit door.

What will the approval rating of the “show” be based on ./..?

 

Reiterating and quoting, “The May consumer price index and the Fed meeting take the spotlight in this week's economic data.”

  • Wednesday's CPI is expected to show another 0.3% increase in core prices. And the Fed policy update and new economic projections are also due Wednesday. The last set of Fed projections released in March showed policymakers led by Chair Jerome Powell narrowly backing three quarter-point rate cuts in 2024, with a hawkish minority favoring two cuts. <IBD>

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
  • Never forget, one of my usual lines. “The sector is … still what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding it.”
  • I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

 

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.