The financial markets will be paying close attention to the release this morning of the jobs report, which will provide fresh clues on the health of the U.S.economy. Two Fed Bank Presidents (Minn Kashkari & St Louis Bullard) both came out with comments yesterday supporting a low rate environment for the year. Kashkari sees no reason to change interest rates in the foreseeable future unless inflation figures weaken. The Federal Reserve felt it would be able to wind down its repo operations by the end of January. Yesterday, Federal Reserve Vice Chairman Richard Clarida pushed that timeline out and said the Fed may still keeping pumping short-term money through April. The Federal Reserve Bank of New York added $83.1 billion in temporary liquidity to financial markets on Thursday.
At 08:30 am ET Jobs Report
At 10:00 am ET Wholesale Trade Report
At 01:00 pm ET Baker Hughes Rig Count figures
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Bullish option activity in BYND, PTON & SNAP
Bearish option activity in AEO, ANF & WLL
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Sector Update: Headlines to Note-
FL .REC Susquehanna downgrades the stock to Neutral from positive. $41 Price target (was $47).
PIR .REC Moody’s changed its outlook to Negative, expects a near term default.
URBN .REC Calls are active, Call put ratio is 5-1. Implied volatility is elevated.
LLY .MA Announced deal to acquire Dermira Inc (DERM) for $18.75 a share.
SRNE .MA Announced it has received a takeover offer of $7 a share for a private equity group.
RARE P/SGN Announced positive top line results on its phase ½ gene therapy study.
GS .REC Piper lifts price target to $275 from $255.
BA P/SGN Internal employee conversations displayed concern of 737 max during development.
UNH .ERN Earnings out 01/15 before the bell, a $10 move is expected.
SPY P/SGN Trump may wait on the Phase 2 trade deal until after the election.
MRNA P/SGN Positive early stage results of phase 1 trial data.
GRUB .MA Company states there are no plans or process in place to sell the company.
Upcoming Earnings and yesterdays near term option volumes