Morning Note – 08/06/26: S&P 500 Higher While NASDAQ 100 Lower

Due to travel, today and Friday will be limited production. We will be back to normal next week.

Overnight Summary and Early Morning Trading:

• The S&P 500 finished Wednesday lower by -0.17% at 7723.55 from Tuesday higher by 1.79% at 7736.52.
• 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 to 7700.
• Bond Market is lower today on price with the 10-Year Yield at 4.631% from 4.704%.

Executive Summary:

• Stocks are now in a one-week winning streak, with the S&P 500 rising 1.05% in the last week, ended 7/31. So far this week up 3.30%.
• U.S. moved into Week 24 of its attack on Iran, almost six months. Now we are back to negotiating a deal with Iran.
• We concluded a 4-day win streak on Wednesday.

Key Geopolitical Events of Note:

• Economic news of note.
  • Weekly – Jobless Claims and Natural Gas Inventories are due this morning.
  • Monthly –  None of note are due this morning.
• President Trump’s schedule:
  • Participates in Executive Time at 11:00 a.m. EDT from Las Vegas at Trump International Hotel.
  • Participates in Policy Meeting at 10:00 a.m. EDT.
  • Receives Intelligence Briefing at 11:00 a.m. EDT.
  • Participates in Signing Time at 3:00 p.m. EDT.
  • Participates in a Policy Meeting at 5:30 p.m. EDT.
  • Participates in a Team USA reception in the Rose Garden at 7:00 p.m. EDT.
• Federal Reserve Speakers of Note:  Federal Reserve St. Louis President Alberto Musalem speaks at 5:30 p.m. EDT.
• Bond Announcements: 4 & 8 Week Bill Auction at 11:30 a.m. EDT

Capital Raises of Note/Pricings:

• IPO Filings & News: ATTO BRVE OCLT VOGX are coming public this week.
• Secondaries Filed Or Priced: None of note.
• Notes Filed Or Priced: None of note.
• Convertible Offerings Filed or Priced: None of note.
• Private Placement: None of note.
• Direct Offering: None of note.
• Exchangeable Subordinate Voting Shares: None of note.
• Selling Shareholders: None of note.
• Mixed Shelf Offerings: None of note.

Notable Earnings Out After The Close:

• Beats:  ACA +5.58, SNDK +4.29, ALL +2.93, CACI +1.65, MUSA +1.32, TPC +1.07, ELF +1.04, LEU +0.98, VSEC +0.82, RELY +0.81, DAVE +0.68, ROOT +0.66, SOLV +0.65, OXY +0.57, MSI +0.56, ALB +0.55, EXPE +0.54, MELI +0.54, MTDR +0.53, HHH +0.49, SDGR +0.49, SRPT +0.42, CPAY +0.42, VAL +0.41, PAYC +0.40, SITM +0.39, MKSI +0.39, KNTK +0.38, HMN +0.38, PRI +0.38, MCK +0.37, PR +0.35, WTS +0.33, MFC +0.32, HCC +0.25, WDC +0.25, ORA +0.24, HUBS +0.24, IONQ +0.23, RGLD +0.23, SM +0.23, RUN +0.19, AWR +0.17, RCUS +0.17, WMG +0.17, XYZ +0.15, ECPG +0.14, VIR +0.14, KLIC +0.14, MET +0.13, BKH +0.13, ARRY +0.12, CW +0.11, SOUN +0.11, KMPR +0.11, MWA +0.11, NWSA +0.11, EBAY +0.10, TTMI +0.10, STE +0.10, OUT +0.09, PCVX +0.09, DGII +0.09, GNK +0.08, FSLY +0.08, WES +0.08, ATO +0.08, FNF +0.08, ACT +0.07, EHC +0.07, RAMP +0.07, CHYM +0.07, MIAX +0.07, RDW +0.07, VECO +0.07, ZG +0.07, DIOD +0.07, NVST +0.07, CXT +0.06, DUOL +0.06, EXEL +0.06, NOVT +0.06, PTGX +0.06, CMP +0.06, DLX +0.06, MGY +0.06, DHT +0.05, TRUP +0.05, POWI +0.05, VRRM +0.05, BROS +0.04, VIAV +0.04, FIG +0.04, AXON +0.04, BBDC +0.03, OTF +0.03, CRUS +0.03, CGNX +0.03, PTRN +0.03, OBDC +0.02, CXW +0.02, EE +0.02, GT +0.02, QGEN +0.02, GTM +0.02, RIG +0.02, NHP +0.02, ATEN +0.01, CENT +0.01, HST +0.01, LZ +0.01, MGNI +0.01, PTLO +0.01 of note.
• Misses: FWRD (6.18), TS (1.97), ETSY (1.11), BMBL (1.09), RVMD (1.02), CF (0.90), SBGI (0.82), FIP (0.82), TNC (0.50), BHF (0.41), MIRM (0.32), HONA (0.25), FLNC (0.24), CPA (0.21), RDN (0.20), HP (0.20), CDE (0.14), TROX (0.13), EQX (0.13), CHRD (0.11), EVCM (0.10), NTR (0.09), UUUU (0.09), USPH (0.06), SYM (0.04), HLF (0.03), AMSC (0.03), BLLN (0.03), LTC (0.03), MUR (0.02), JOBY (0.02), APA (0.01), LFMD (0.01), CAI (0.01), DASH (0.01) of note.
• Flat: ADMA +0.00, DOX +0.00, APP +0.00, GDRX +0.00, KVYO +0.00, LB +0.00, MNKD +0.00, SMR +0.00, RYN +0.00, O +0.00 of note.

Winners From After The Close:  NOT UPDATED of note.

Losers From After The Close: NOT UPDATED  of note.

News after the close: NOT UPDATED

Executive, Corporate Changes: None of note.

Buybacks of Note: None of note.

Dividend Info:

• Top Names Trading Ex-Div Today: AMAL $0.17, AROC $0.23, BANR $0.52, BY $0.12, CCEC $0.15, CIVB $0.18, FCCO $0.17, FIBK $0.47, IBCP $0.28, LVS $0.3, MET $0.5925, ORRF $0.3, SPH $0.325, SRCE $0.45
• Top Names Trading Ex-Div Tomorrow: AWI $0.339, BPRN $0.35, CBAN $0.12, EQT $0.165, HFWA $0.25, IDA $0.88, JMSB $0.1, MTG $0.15, SAR $0.25, SYF $0.34, UVSP $0.23, WTBA $0.26 : $1.03, ATR: $0.48, CAG: $0.17, FUL: $0.24

What Happening This Morning:

Futures S&P 500 +12, NASDAQ 100 -119, Dow Jones +90. Europe is higher while Asia is higher ex Japan. Bond yield is at 4.631% from 4.615% on the 10-Year. Crude Oil and Brent Crude are higher with Natural Gas lower. Gold is higher, Silver is lower with Copper higher. The U.S. Dollar is higher versus the Euro, higher against the Pound and higher against the Yen. Bitcoin is at $64,562 from $64,562.

    

Sector Action:

• Daily Energy, Healthcare, Consumer Defensive and Unities led the way higher
• Daily: Technology and Real Estate 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)

• Thursday After the Close:

• Friday Before The Open:

Notable Earnings of Note This Morning: 

• Beat:  LNG +11.57, CCOI +2.38, CNR +1.91, CQP +1.16, PH +1.01, TFX +1.00, OSCR +0.70, INSM +0.63, GOLF +0.45, LGND +0.42, WMS +0.39, U +0.39, IBP +0.36, COP +0.34, VAC +0.34, GPRE +0.29, WD +0.29, CEG +0.26, LNTH +0.25, GEL +0.24, EPAM +0.24, GHM +0.22, BKV +0.21, WBD +0.20, DCO +0.20, ATI +0.20, COLL +0.20, ACLS +0.17, FTDR +0.17, ITT +0.16, NTCT +0.14, ARHS +0.14, VSNT +0.14, APPN +0.13, LEG +0.13, PRVA +0.12, PBH +0.10, NVMI +0.10, HWM +0.09, VTRS +0.09, VNT +0.09, BDX +0.09, LAMR +0.08, USFD +0.08, DDOG +0.07, FOUR +0.07, PENN +0.07, EVRG +0.07, AVNT +0.07, FA +0.06, HAE +0.06, ENOV +0.05, MTSI +0.05, ROIV +0.04, COLD +0.04, PLNT +0.03, QSR +0.03, EVH +0.03, LFST +0.03, DNOW +0.03, GPGI +0.03, DRVN +0.03, BSY +0.03, KDP +0.03, SHC +0.02, ACIW +0.02, ZTS +0.02, IOVA +0.02, RXO +0.02, MMS +0.01, PTON +0.01, FSK +0.01, PZZA +0.01, TGLS +0.01
   of note.
• Missed: SHAZ (25.86), NXST (2.37), DAN (0.51), GENI (0.22), BKSY (0.16), IMVT (0.12), BOBS (0.07), ATS (0.07), GOGO (0.07), PAYO (0.07), FISV (0.07), WRBY (0.06), CELH (0.06), QBTS (0.05), ESAB (0.05), PLTK (0.04), TRIP (0.03), KVUE (0.01) of note.
• Flat: HIMX +0.00, SRRK +0.00, NTLA +0.00, VITL +0.00, DNUT +0.00, STWD +0.00, CARS +0.00, SGI +0.00, TIGO +0.00 of note.
• Still to Report: ESTA , FOXA , HTZ , NSIT , KOP , LOAR , MDU , TAP , NVAX , RL , SRE , TNDM of note.

Company Earnings Guidance:

• Positive Guidance: After The Close & This Morning – MTSI, FTDR, VAC, VITL, PH, EVH, APPN, DDOG, ACLS, HWM, COLD, BDX of note.
• Mixed –  of none.
• Negative or Mixed Guidance: After The Close & This Morning – COLL, GOGO, FOUR, PTON, FISV, ZTS, BKE, WRBY, ESAB, ARHS of note.

Advance/Decline Daily Update: 

Gap Ups & Down In Early Pre-Market: (Top 10 up and down):

• Gap Up: PAVS, CLRO, WYHG, SURG, SOUX, SOUN, MGRX, CELZ, OSCX, SITM, SOUN, WPP, AEVA, RDWU, SNDQ, ASPN, FVN, GVH, LVLU, IPCX, ONFO, HNST, AZI, SKDD, XCH, CAI, IONL,
  NHPBP, STG, RELY, PFAI, PAYC, IONX, RAMZ, MGNI, CLVT, TASK, INDP, GRCE, LPSN of note
• Gap Down: YXT, APPX, WDCX, TDUP, FIGG, LZ, BLLN, NXTT, CSEX, CNTX, AKBA, HUBS, SXTC, RCON, UWM, ZYBT, SNDG, SNDU, SNES, SNXX, APP, CELH, FLNC, WDC, CLFD, FRGT, RITR, SNDR, INLF, ONT, CLS, MIC, YYAI, SK, SKHU, FIG, HYNX, SKUU, RAM  of note.

Insider Action: None sees Insider Buying with dumb short selling. None see Insider Buying with smart short sellers. Above $100,000 in purchases with high shorts but no history: None of note.

Other Trading Action: None of note.

Rags & Mags: Repeated stories from prior days never listed, i.e. “rehashed news”. Sorted by Global, U.S. and stock specific. Bolded source means paywall.

• NOT UPDATED

Economic & Geopolitical:

• Federal Reserve Speakers of note today:
  • Federal Reserve St. Louis President Alberto Musalem speaks at 5:30 p.m. EDT.

• President Trump’s schedule for today:
  • Participates in Executive Time at 11:00 a.m. EDT.
  • Participates in Policy Meeting at 10:00 a.m. EDT.
  • Receives Intelligence Briefing at 11:00 a.m. EDT.
  • Participates in Signing Time at 3:00 p.m. EDT.
  • Participates in a Policy Meeting at 5:30 p.m. EDT.
  • Participates in a Team USA reception in the Rose Garden at 7:00 p.m. EDT.
• Economic Data Out –
  • Weekly
    • Jobless Claims are out this morning at 8:30 a.m. EDT.
    • Natural Gas Inventories are due out at 10:30 a.m. EDT.
  • Monthly
    • None of note.

M&A Activity & Daily: None of note.

Moving Average Table: 100% from 97% of Equities are Positive, and 32% from 0% Bonds are Positive.

Meeting & Conferences of Note:

• Sellside Conferences:
  • DB Data center Conference
  • Opp. Biotech Conference
• Top Analyst, Investor:
• Shareholder Meetings:
• 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. 

Upgrades: JJSF KREF NXDR TPG of note.

Downgrades: None of note.

Initiations:  Buys: IMRX RNA of note.  Sells: None of note.