Announcement

Morning Call For 8/12/26: Stocks Up Modestly

By Geoff Garbacz | Market Rebellion · August 12, 2026

Due to travel, today’s output will be limited. We will be back to normal on Thursday.

Overnight Summary and Early Morning Trading:

The S&P 500 finished Tuesday lower by -0.32% at 7728.29 from Monday lower by -0.06% at 7753.11.
The S&P 500 sees support now at 7700 from 7600. Resistance is now at 7800 from 7700. In the last four months, support has moved from 6300 to7700.
Bond Market is higher today on price with the 10-Year Yield at 4.668% from 4.709%.

Executive Summary:

Stocks are now in a two-week winning streak, with the S&P 500 rising 3.58% in the last week, ended 8/7.
U.S. moves into Week 25 of its attack on Iran, almost six months. Now we are back to negotiating a deal with Iran.

Key Geopolitical Events of Note:

Economic news of note.
- Weekly –MBA Mortgage Applications and Crude Oil Inventories of note.
- Monthly – CPI and Treasury Budget of note.
President Trump’s schedule:
- Participates in Executive Time at 8:00 a.m. EDT.
- Participates in a Greeting with Law Enforcement and Military Service Members at 10:30 a.m. EDT.
- Participates in Policy Meeting at 11:00 a.m. EDT.
- Participates in Policy Meeting at 12:30 p.m. EDT.
- Participates in Signing Time at 2:30 p.m. EDT.
- Participates in a Policy Meeting at 4:00 p.m. EDT.
- Participates in a Policy Meeting at 5:00 p.m. EDT.
Fed Speakers of Note: None of note.
10-Year Note Auction at 1:00 p.m. EDT.

What Happening This Morning:

Futures S&P 500 +33.50, NASDAQ 100 +281.75, Dow Jones +133. Europe is higher ex FTSE while Asia is mixed. Bond yield is at 4.668% from 4.711% on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas higher. Gold, Silver and Copper higher. The U.S. Dollar is lower versus the Euro, lower against the Pound and lower against the Yen. Bitcoin is at $63, 983 from $64,283.

Sector Action:

Daily Technology, Materials, Industrials, Financials, Utilities and Communication Services led the way higher
Daily: Consumer Defensive, Healthcare and Energy were lower.
One-Month Winners: Technology, Communication Services, Healthcare and Real Estate of note.
Three-Month Winners: Energy, Materials, Utilities, Consumer Defensive and Industrials of note.
Six-Month Winners: Energy, Materials, Utilities, Industrials, Healthcare and Consumer Defensive of note.
Twelve-Month Winners: Materials, Energy, Industrials, Utilities, Communication Services and Technology of note.
Year-to-Date Winners: Energy, B, Consumer Defensive, Utilities and Industrials of note.

Upcoming Earnings Of Note: (Erlanger Chartroom Software – sorted by market cap, highest to lowest with most visible names)

Wednesday After the Close:

Thursday Before The Open:

Advance/Decline Daily Update:

M&A Activity & Daily: None of note.

Moving Average Table: 86% from 93% of Equities are Positive, and 8% from 4% Bonds are Positive.

Meeting & Conferences of Note:

Sellside Conferences:
- BAC SMID Cap. Conference
  o Canaccord Growth Conference
  o Davidson Western Bank Summit
  o Deutsche Bank Chicago Industrials Summit
  o Jefferies Software Summit
  o JP Morgan Auto Conference
  o Mizuho Industrials & Chemicals Conference
  o Oppenheimer TIC Conference
  o Raymond James Energy Summit
  o Raymond James Industrial Showcase
  o Stifel Biotech Summit
Top Analyst, Investor: KOP of note.
Shareholder Meetings: FFAI IHT SJM V of note.
Fireside Chat: None of note.
FDA Presentation: None of note.
R&D Day: None of note.
Meetings: None of note.

Upgrades & Downgrades:

The recommendations listed below in this “Upgrade/Downgrade” section are compiled from what we believe are Tier I, II and III firms. Recommendations posted are taken from a variety of sources each day and we only post upgrades or significant initiations as well as downgrades to underweight or sell. The purpose of this posting is to make the reader aware of market-moving recommendations. None of these recommendations should be interpreted as actual recommendations from CAPIS or its employees.

Upgrades: ENTG of note.

Downgrades: Noneof note.

Initiations: Buys: QMLS of note. Sells: None of note.