June 28, 2024 8:04am

President Biden faltered in Thursday night's debate with former President Trump

Thursday night's presidential debate provided a blow to democrats; what will the impact to specific sectors on Friday?

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.

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

 

Friday: The pre-open Dow futures are UP +0.07% or (+28 points), the S&P futures are UP +0.34% or (+19 points) as the Nasdaq futures are up +0.40% or (+80 points)

Futures climbed Friday as traders ahead of inflation data release on Friday,

European markets were higher,

Asia-Pacific markets climbed.

 

Henry’omics:

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

Thursday: The Dow closed UP +36.26 points or +0.09%, the S&P closed UP +4.97 points or +0.09% while the Nasdaq closed UP +53.53 points or +0.30%

In the 1st H, the Nasdaq climbed +19% as artificial, the S&P 500 +15%, while the Dow has lagged with a gain of just under 4%.

In Q2, the Nasdaq jumped +9%, the S&P +4% while the Dow slipped -1.6%.

For this week (6/24 to 6/27), the Nasdaq advanced +1%, the S&P 500 +0.3%, while the Dow is near its flatline.

Economic Data Docket:  the Fed’s preferred inflation gauge, the headline PCE reading is expected to be flat from April and higher by 2.6% compared to a year ago.

  • Excluding volatile food and energy prices, the core PCE is forecast to come in 0.1% higher on the month and 2.6% on an annualized basis.

 

RegMed Investors (RMi) Closing bell: “a cheap sector triggered by pockets of volatility coupled with some semi-attractive buying opportunities.” …  https://www.regmedinvestors.com/articles/13517

 

Q2/24: 

June – 1 market holiday, 7 positive and 11 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.

Insight is about understanding perception

 

Yet again, I am passing on forecasting the daily indications is focused on inflation-oriented Friday’s May’s personal consumption expenditures price index report and its 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.

 

 

The BOTTOM LINE: Inflation has put sector buyers under pressure; there's a lot to keep track of… as …

Biden's debate performance was widely panned, with stumbling and mumbling in his answers. Even a number of sympathetic commentators argued that the president should exit the race. Trump was largely seen as making no mistakes?

Indexes showed slim gains on Thursday while small caps had strong gains.

  • There is still the issue of the lack of catalysts as we head into Q2 earnings season.
  • Even a s the cell and gene therapy sector cruised to a positive close, market breadth was modestly positive; as the small-cap Russell 2000 jumped 1%, closing just above its 50-day line for the first time since June 13.

 

Watch the “numbers” measure the daily, weekly, and monthly charts can filter out or lessen the noise of back-and-forth share pricing from sector rotation.

I feel the sector will alternate positive and negative yet after being down so many sessions in May: I do not trust … into the rest of the week coming and ending Friday Q2 and 1stH (half).

 

I’m STILL not FEELING a bullish optimism --- it’s only an up party for visits from “uncle algo and his electronic trading dwarfs”!

Investors should be making NO buys, either adding exposure or swapping out losers and laggards in your portfolio. But if you are heavily invested, holding steady is a sound strategy as well.

 

Let get to 4 events that you need to know for Friday as you prep for the trading day …

  • 4th week coming … 2 positive and 2 negative closes as Q2 comes to and end on Friday.
  • 3rd week of June, 3rd session … the cell and gene therapy sector experienced 1 positive and 3 negative closes with 1 market holiday
  • 2nd week of June, 5th session … negative closes on Friday and Thursday after Wednesday ascended positively as Tuesday drifted lower, retreating from Monday’s highs.
  • 1st week of June: Friday and Thursday ended in the toilet after Wednesday’s positive close Tuesday negative close following Monday’s positive close.

 

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.
  • 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 it’s 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.