September 4, 2025 7:45am

There's also a case for taking partial profits in stronger names rather than waiting for them to buckle

Econs are coming, econs are coming; get ready for the resistance

BREAKING: U.S. private sector hiring rose less than expected in August and significantly cooled from the prior month, according to the ADP. Private payrolls increased by just 54 K in August, well short of the 75 K estimate from economists and down from the revised gain of 106 K jobs added in July. Jobs tied to trade, transportation and utilities saw particular weakness in August, with the group losing 17 K roles on net, according to the ADP. Education and health services followed, recording a decline of 12 K jobs. Those losses were offset in part by a boom in the leisure and hospitality industry, which added 50 K jobs in the month.  Wage growth maintained the same pace in August. Those staying in their roles saw their pay rise 4.4% year-over-year, while job changes recorded a 7.1% increase over the same period.

News: Mesoblast (MESO +$0.62 <pre-open> to $13.50) has entered into convertible note subscription agreements with SurgCenter principals and existing Mesoblast shareholders, Gregory George and William Gueck to issue, at its sole discretion, up to US$50 M of unsecured convertible notes.

Pre-open Signals: 3 Positive, 1 Negative and 3 Sell into Strength

Never leave an investor uninformed … I say what others won’t, so you can do what others can’t!

The cell and gene therapy sector has seen a few too many fits and starts, so …

Don’t get too hot but, be bothered by what could be coming! Rate-cut bets face a key test in Friday's jobs report for August, after disappointing inflation data dented stocks last week.

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

 

Wednesday’s night’s … RMi) Closing Bell: Up and not quite away as dips distract … https://www.regmedinvestors.com/articles/14090

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB): Just another wrinkle – Q2/25’s 10-Q – liabilities exceed cash position … https://www.regmedinvestors.com/articles/13812

 

Thursday: The pre-open Dow futures are DOWN -0.03% or (-15 points), the S&P futures are UP +0.11% or (+7 points) and the Nasdaq futures are UP +0.14% or (+33 points)

  • Stock futures were mixed post ADP data on Thursday, 9/4
  • European stock markets were mixed,
  • Asia-Pacific markets closed mostly higher.

 

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

  • Wednesday: The Dow closed DOWN -24.95 points or -0.06%, the S&P closed UP +32.74 points or +0.51% while the Nasdaq closed UP +218.097 points or +1.03%
  • Tuesday: The Dow closed DOWN -249.07 points or -0.55%, the S&P closed DOWN -44.72 points or -0.69% while the Nasdaq closed DOWN – 175.922points or -0.82%
  • U.S. markets were closed Monday for the Labor Day holiday, global markets did remain open
  • last Friday: The Dow closed DOWN 92.02- points or -0.20%, the S&P closed DOWN -41.60 points or -0.64% while the Nasdaq closed DOWN -249.608 points or -1.15%
  • Last week, the Dow was down 0.2%, the S&P 500 shed 0.1% and Nasdaq lost 0.2%.
  • For August, the Dow was up +3%, the S&P +2% and the Nasdaq +1%

Economic Data Docket: ADP private payrolls, Jobless claims  – July, Factory orders – July, Fed Beige Book at 2 pm, Auto sales and 2  Fed Presidents speak                                                            

  • The ADP private payrolls report is due out at 8:15 a.m. ET. Economists polled by Dow Jones expect private employers added 75,000 jobs in August, down from 104,000 jobs previously. The latest jobless claims data — set for release at 8:30 a.m. — is expected to show a slight uptick.

 

Q3 – September, 1 holiday and 2 positive closes

  • August - 11 negative and 9 positive closes
  • July – 1 market holiday, 13 positive and 9 negative closes

 

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

I post about “indication intelligence” looking toward investment conferences … 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.

  • Let ‘em ride, I feel red, see green after the muddle of red leading up to August’s close, along with the usual ups, downs and just plain uncertainties

Although:

Ionis Pharmaceuticals (IONS) closed up +$3.00 after Tuesday’s +$14.86 after Friday’s +$0.01 with a neutral pre-open – Sell into Strength

Sarepta Therapeutics (SRPT) closed up +$0.79 with a negative -$0.06 or -0.32% pre-open

IQV Holdings (IQV) closed up +$0.90 after Tuesday’s - $3.07 after Friday’s +$2.03 with a positive +$0.26 or +0.14% pre-open

Arrowhead Pharmaceuticals (ARWR) closed up +$2.12 after Tuesday’s +$3.65 with a neutral pre-open – SELL into Strength

uniQure NV (QURE) closed up +$0.37 after Tuesday’s +$0.68 after Friday’s +$0.07 with a positive +$0.12 or +0.67% pre-open – Sell into Strength

Vertex Pharmaceuticals (VRTX0 closed down -$4.38 after Tuesday’s +$9.98 with a positive +$0.37 or +0.09% pre-open

 

The BOTTOM LINE: Pointing toward Thursday after Wednesday’s mixed market and upside sector close …

  • The Nasdaq has been consolidating for a few weeks, and investors can see something similar with the S&P 500 and Dow.
  • The Dow lost a fraction, bouncing off the 21-day line, the S&P 500 index gained 0.5%, moving off its 21-day while the Nasdaq jumped 1%, moving back above the 21-day line.
  • The small-cap Russell 2000 dipped 0.1%. <IBD>

September is historically the worst month for equities …

  • Tariffs are more of an issue to the future?
  • Don’t forget about Fed governor Lisa Cook and her issues of being fired or not?

As I wrote yesterday, Wednesday a.m., “There's also a case for taking partial profits in stronger names rather than waiting for them to buckle. Investors could choose to make buys in stronger areas, but adding new positions in the current climate carries risks.

 

September is in the front window: understand the “flow”

  • 9/3 – Wednesday closed positive with 22 positive, 16 negative and 2 flat of 40 covered
  • 9/2 -Tuesday closed positive with 22 positive, 18 negative and 0 flat of 40 covered
  • 9/1 -Monday was a holiday

The previous week of August:

  • 8/29 – Friday closed negative with 7 positive, 27 negative and 1 flat of the 35 covered
  • 8/28 – Thursday closed negative with 15 positive, 17 negative and 3 flats
  • 8/27 – Wednesday closed negative with 16 positive, 17 negative and 2 flats
  • 8/26 - Tuesday closed positive with 25 positive, 9 negative and 1 flat
  • 8/25 – Monday closed negative with 4 positive, 29 negative and 2 flats

 

Earnings are still the highlight of the week: Meeting earnings expectation and/or missing consensus will deem share pricing outcomes.

  • Earnings:  4 net incomes and 25 net losses of 29 releases to date

I also 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!”

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

  • 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.