November 14, 2023 7:33am

A crucial inflation reading offers insight into the path of inflation

Earnings: Brainstorm Cell Therapeutics (BCLI)

Pre-Open Indications: 2 Positive and 2 Negative Indications

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Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what could happen or materialize

 

The pre-open Dow futures are UP +0.04% or (+13 points), the S&P is UP +0.08% or (+3 points) as the Nasdaq is UP +0.23% or +35 points)

Stock futures were slightly up on Tuesday

European markets were mixed,

Asia-Pacific markets rose on Tuesday.

 

Henry’omics:

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

Indexes ended mixed with the Dow advanced 0.16% or +54.77 points, the S&P dived -0.08% or -3.69 points while the Nasdaq closed down -0.22% or -30.36 points.

Economic Data Docket: Consumer Price Index (CPI) data is due out at 8:30 a.m.. Economists expect a headline increase of 3.3% for October, easing from 3.7% in September. But core prices are expected to be unchanged from the previous month.

 

Monday, RegMed Investors (RMi) Closing Bell: “the curse of trial results. When they are good, it’s accepted when it’s bad – awful” … https://www.regmedinvestors.com/articles/13205

 

Ebb and flow:

Q4: November – 4 positive and 5 negative closes

·         October – 1 sick day, 9 positive and 12 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context: looking for lost SHEAP …

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.

Positive Indication:

Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday, Monday's closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Ionis Pharmaceuticals (IONS) closed up +$0.68 after Friday’s -$0.95 after Thursday’s +$0.22 with a positive +$0.66 or +1.40% aftermarket indication

Sage Therapeutics (SAGE) closed up +$0.21 after Friday’s -$0.14, Thursday’s -$1.26, Wednesday’s -$1.13 and last Tuesday’s -$0.98 with a positive +$0.35 or +2.02% aftermarket indication.

 

Negative Indication:

Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday, Monday's closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed up +$3.12 after Friday’s -$2.63 after Thursday’s -$4.88, Wednesday’s -$0.80 and Tuesday’s +$3.05 with a negative -$3.30 or -2% aftermarket indication.

MiMedx (MDXG) closed up +$0.22 after Friday’s +$0.24 with a negative -$0.10 or -1.62% aftermarket indication

 

The BOTTOM LINE: reiterating, the cell and gene therapy sector is not looking as healthy!

  • Maintaining, “If the market rebounds this week, don't get too excited; indexes and the cell and gene therapy sector need strong gains before signaling an end to the recent downturn and follow-through sessions.”
  • I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
  • Small caps closed nominally positive, with the Russell 2000 essentially flat.
  • Elements of today's equation: sentiment and when and how much hedges, algorithms and electronic traders PARTICIPATE.

 

Today’s relevancy from Monday’s session:

  • Small caps closed nominally positive, with the Russell 2000 essentially flat.
  • Yields were mixed. The 10-year Treasury note inched up 1 basis point to 4.64% while the 30-year rose 2 basis points to 4.75%. The five-year yield fell 1 basis point to 4.66% while the two-year dipped 3 basis points to 5.04%.
  • There is already trouble emerging after new House Speaker Mike Johnson unveiled over the weekend a two-step plan to avert further government shutdowns. A Nov. 17 deadline now looms large.
  • Late Friday, Moody's Investors Service cut its U.S. outlook to negative from stable, citing high budget deficits and political polarization. Moody's reaffirmed, for now, its AAA rating on U.S. sovereign debt.             
  • The 45-day government funding measure expires Nov. 17, with the risk of a government shutdown still high.
  • The small-cap Russell 2000 tumbled 3.15% for the week despite Friday's 1.1%% bounce.
  • The 10-year Treasury yield rose 7 basis points to 4.63%, amid some big daily swings.
  • Treasury yields spiked on a poor 30-year Treasury bond auction. Fed chief Jerome Powell followed up, saying the central bank is "not confident" that it's done enough to rein in inflation. <IBD>

Investors should be very cautious, holding to some positions and building cash if possible!

  • Market breadth was once again weaker

 

I hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I am more frequently right than consequentially wrong but, I am mostly EARLY!

 

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.