Wednesday, November 22, 2017

Daqo New Energy - Chart of the Day

Daqo New Energy (DQ) is the Barchart Chart of the Day.  The poly silicon company has a Trend Spotter, a Weighted Alpha of 174.85+ and gained 133.81% in the last year.

The Chart of the Day belongs to Daqo New Energy (DQ).  I found the poly silicon stock by using Barchart to sort today's Top Stocks to Own list first by the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 9/1 the stock gained 89.96%.

Daqo New Energy Corp. is engaged in the manufacture and sale of high-quality polysilicon to photovoltaic product manufacturers. The polysilicon is further processed into ingots, wafers, cells and modules for solar power solutions. Daqo New Energy Corp., formerly known as Mega Stand International Limited, is headquartered in Wanzhou, The People's Republic of China.



The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 174.85+ Weighted Alpha
  • 100% technical cal buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 33.86% in the last month 
  • Relative Strength Index 74.83%
  • Technical support level at 47.45
  • Recently traded at 49.45 with a 50 day moving average of 34.84
Fundamental factors:
  • Market Cap $487 million
  • P/E 7.61
  • Revenue expected to grow 48.40% this year but decrease 12.20% next year
  • Earnings estimated to increase 91.50% this year but decrease 30.50% next year and will compound at an annual rate of 7.00% for the next 5 years
  • Wall Street analysts issued 3 strong buy recommendations on the stock

Tuesday, November 21, 2017

Fanhua - Chart of the Day

Fanhau (FANH) is the Barchart Chart of the Day.  The Chinese insurance broker has a Trend Spotter buy signal, a Weighted Alpha of 216.85+ and gained 162.34% in the last year.

The Chart of the Day belongs to Fanhau (FANH).  I found the Chinese insurance broker by using Barchart to sort today's Top Stocks to Own list first by the highest Weighted Alpha, then I used the Flipchart feature to review the chart for consistent price appreciation.  Since the Trend Spotter signaled a buy on 9/1 the stock gained 147.68%

Fanhua Inc. is a provider of financial services. Its product and services comprises property, casualty and life insurance products and insurance claims adjusting services. The company's online segment includes CNpad, a mobile sales support application, Baoxian.com, an online entry portal for comparing and purchasing health, accident, travel and homeowner insurance products and eHuzhu a non-profit online mutual aid. Fanhua Inc. formerly known as CNinsure Inc. is headquartered in Guangzhou, China.


The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 216.85+ Weighted Alpha
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 42.84% in the last month
  • Relative Strength Index 87.24%
  • Technical support level at 19.78
  • Recently traded at 22.69 with a 50 day moving average of 15.10
Fundamental factors:
  • Market Cap $1.21 billion
  • P/E 27.71
  • Dividend yield .51%
  • There are only 2 Wall Street analysts following the stock
  • Both rate it a buy
  • The consensus is for a 7.68% compounded annual increase in earnings for the next 5 years

My 5 Favorite NASDAQ 100 Stocks

This morning I wanted to find the 5 NASDAQ 100 stocks with the highest Weighted Alpha and the most consistent price appreciation.  I used Barchart to sort the NASDAQ 100 Index stocks first by the highest Weighted Alpha, then used the Flipchart feature to review the charts for consistency.  Today's Watch List includes:




Barchart technical indicators:
  • 402.60+ Weighted Alpha
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 60.72% in the last month
  • Relative Strength Index 77.39%
  • Technical support level at 24.23
  • Recently traded at 25.12 with a 50 day moving average of 16.94


Barchart technical indicators:
  • 345.40+ Weighted Alpha
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 125.19% in the last month
  • Relative Strength Index 93.76%
  • Technical support level at 42.55
  • Recently traded at 43.80 with a 50 day moving average of 24.41
Square (SQ)


Barchart technical indicators:
  • 286.70+ Weighted Alpha
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above is 20, 50 and 100 day moving averages
  • 16 new highs and up 39.11% in the last month
  • Relative Strength Index 89.14%
  • Technical support level at 44.51
  • Recently traded at 45.2 with a 50 day moving average of 33.17
Zagg (ZAGG)


Barchart technical indicators:
  • 279.20+ Weighted Alpha
  • 96% technical buy signals
  • Trend Spotter  buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 27.99% in the last month
  • Relative Strength Index 74.94%
  • Technical support level at 21.65
  • Recently traded at 21.95 with a 50 day moving average of 16.64


Barchart technical indicators:
  • 278.80+ Weighted Alpha
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 49.08% in the last month
  • Relative Strength Index 67.75%
  • Technical support level at 53.18
  • Recently traded at 56.65 with a 50 day moving average of 35.95

Morning Call 11/21

Barchart Morning Call

OVERNIGHT MARKETS AND NEWS
Dec E-mini S&Ps (ESZ17 +0.33%) this morning are up +0.23% and European stocks are up +0.39%. Better-than-expected Q3 earnings results from Lowe's pushed the stock up 3% in pre-market trading and helped lift the overall market. European stocks rose and the German 10-year bund yield fell to a 1-1/2 week low of 0.337% after Eurozone officials familiar with the matter said the ECB will take small, gradual steps next year as it moves to end its bond purchases next year. Asian stocks settled higher: Japan +0.70%, Hong Kong +1.91%, China +0.53%, Taiwan +1.08%, Australia +0.30%, Singapore +1.09%, South Korea +0.18%, India +0.36%. A rally Chinese financial stocks lifted the overall market on optimism that deleveraging efforts by the government will not be as strict as expected. Japanese stocks gained on optimism in the U.S. economic outlook after U.S. Oct leading indicators rose more than expected, which shows economic strength and should benefit Japanese exporters.

The dollar index (DXY00 +0.01%) is up +0.03%. EUR/USD (^EURUSD) is down -0.07%. USD/JPY (^USDJPY) is down -0.05%.
Dec 10-year T-note prices (ZNZ17 -0.01%) are up +0.5 of a tick.
According to Eurozone officials familiar with the matter, the ECB is likely to make small multiple adjustments in its guidance on monetary policy next year rather than any major change in language as it ends QE.
UK Oct public sector net borrowing rose +7.5 billion pounds, stronger than expectations of +6.5 billion pounds and the biggest increase in 6 months.
The UK Nov CBI trends total orders rose +19 to a 29-year high of 17, stronger than expectations of +5 to 3.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Oct Chicago Fed national activity index (expected +0.03 to 0.20, Sep +0.54 to +0.17), (2) Oct existing home sales (expected +0.2% to 5.40 million, Sep +0.7% to 5.39 million), (3) Treasury auctions $13 billion of 2-year floating-rate notes, (4) Fed Chair Janet Yellen speaks at New York University’s Stern Business School.
Notable Russell 1000 earnings reports today include: HP (consensus $0.44), salesforce.com (0.37), Burlington Stores (0.66), Eaton Vance (0.71), Dollar Tree (0.90), Medtronic (1.02), Lowe's (1.02), Analog Devices (1.36).
U.S. IPO's scheduled to price today: none.
Equity conferences this week: none.
OVERNIGHT U.S. STOCK MOVERS
Lowe's (LOW +1.55%) rose 3% in pre-market trading after it reported Q3 adjusted EPS of $1.05, better than consensus of $1.02.
Deere (DE +0.85%) was upgraded to 'Outperform' from 'Neutral' at Baird with a price target of $155.
T-Mobile (TMUS +0.47%) was upgraded to 'Buy' from 'Hold' at HSBC with a price target of $70.
Palo Alto Networks (PANW -0.13%) rose over 6% in after-hours trading after it reported Q1 adjusted EPS of 74 cents, higher than consensus of 68 cents, and then said it sees full-year adjusted EPS of $3.35 to $3.41, above consensus of $3.31.
Agilent Technologies (A +1.70%) lost nearly 5% in after-hours trading after it said it sees Q1 adjusted EPS of 55 cents=57 cents, weaker than consensus of 59 cents, and then said it sees full-year adjusted EPS of $2.50 to $2.56, below consensus of $2.59.
Black Knight (BKI +0.66%) fell 2% in after-hours trading after it announced a secondary offering of 5 million shares of common stock by affiliates of Thomas H. Lee Partners. L.P.
Planet Fitness (PLNT +0.23%) was initiated with a 'Buy' at D.A. Davidson with an 18-month target price of $42.
Comcast (CMCSA -0.91%) was initiated with a 'Buy' at Buckingham Research Group with a 12-month target price of $48.
Performance Food Group (PFGC +1.39%) lost more than 2% in after-hours trading after it announced a secondary offering of 5 million shares of common stock by an affiliate of Wellspring Capital Management.
Amtech Systems (ASYS +7.05%) rallied 13% in after-hours trading after it reported Q4 revenue of $54.7 million, above consensus of $46.9 million, and then said it sees Q1 revenue of $60 million-$70 million, better than consensus of $49.2 million.
China Cord Blood (CO +0.46%) climbed almost 4% in after-hours trading after it reported 2018 operating income was up +39.4% y/y to $11.5 million and that it added 23,647 new subscribers.
Vipshop Holdings Ltd (VIPS -5.42%) rose nearly 3% in after-hours trading after it reported Q3 revenue of $2.30 billion, higher than consensus of $2.28 billion,
Celsion (CLSN +7.00%) surged over 20% in after-hours trading after it was initiated with coverage at 'Outperform' at Oppenheimer with a 12-month target price of $9.
MARKET COMMENTS
Dec S&P 500 E-mini stock futures (ESZ17 +0.33%) this morning are up +6.00 points (+0.23%). Monday's closes: S&P 500 +0.13%, Dow Jones +0.31%, Nasdaq -0.09%. The S&P 500 on Monday closed higher on the +1.2% increase in U.S. Oct leading indicators index, stronger than expectations of +0.8% and the biggest increase in nearly 4 years. There was also strength in retail stocks ahead of this Friday's Black Friday shopping day, the kickoff of the holiday shopping season.
Dec 10-year T-note prices (ZNZ17 -0.01%) this morning are up +0.5 of a tick. Monday's closes: TYZ7 -7.00, FVZ7 -5.50. Dec 10-year T-notes on Monday closed lower on the stronger-than-expected U.S. Oct leading indicators index and on reduced safe-haven demand with the rally in stocks.
The dollar index (DXY00 +0.01%) this morning is up +0.024 (+0.03%). EUR/USD (^EURUSD) is down -0.0008 (-0.07%) and USD/JPY (^USDJPY) is down -0.06 (-0.05%). Monday's closes: Dollar Index +0.418 (+0.45%), EUR/USD -0.0057 (-0.48%), USD/JPY +0.52 (+0.46%). The dollar index on Monday closed higher on the stronger-than-expected U.S. Oct leading indicators index and on weakness in EUR/USD after ECB President Draghi said that "despite the firm economic recovery, inflation dynamics have yet to show convincing signs of a self-sustained upward trend."
Jan crude oil (CLF18 +0.41%) this morning is up +13 cents (+0.23%) and Jan gasoline (RBF18 +0.69%) is +0.0071 (+0.41%). Monday's closes: Jan WTI crude -0.29 (-0.51%), Jan gasoline -0.0064 (-0.37%). Jan crude oil and gasoline on Monday closed lower on a stronger dollar and on increased Iraq crude exports after JODI reported Iraq Sep crude exports rose +1.7% m/m and +17.6% y/y to 3.854 million bpd.
Metals prices this morning are higher with Dec gold (GCZ17 +0.19%) +2.8 (+0.22%), Dec silver (SIZ17 +0.67%) +0.098 (+0.58%) and Dec copper (HGZ17 +0.32%) +0.009 (+0.29%). Monday's closes: Dec gold -21.2 (-1.64%), Dec silver -0.531(-3.06%), Dec copper +0.0260 (+0.85%). Metals on Monday settled mixed. Metals prices were undercut by a stronger dollar and by the rally in stocks, which reduced safe-haven demand for precious metals. Copper closed higher on signs of tighter supplies after LME copper inventories fell -6,300 MT to a 2-1/4 month low of 241,400 MT.
GLOBAL EVENT CALENDAR11/21/2017
Tuesday, Nov 21
US0830 ETOct Chicago Fed national activity index expected +0.03 to 0.20, Sep +0.54 to +0.17.
1000 ETOct existing home sales expected +0.2% to 5.40 million, Sep +0.7% to 5.39 million.
1300 ETTreasury auctions $13 billion of 2-year floating-rate notes.
1800 ETFed Chair Janet Yellen speaks at New York Universitys Stern Business School.
Wednesday, Nov 22
US0700 ETWeekly MBA mortgage applications, previous +3.1% with purchase sub-index +0.4% and refi sub-index +6.3%.
0830 ETWeekly initial unemployment claims expected -9,000 to 240,000, previous +10,000 to 249,000. Weekly continuing claims expected +20,000 to 1.880 million, previous -44,000 to 1.860 million.
0830 ETOct durable goods orders expected +0.4% and +0.5% ex transportation, Sep +2.0% and +0.7% ex transportation. Oct capital goods orders nondefense ex-aircraft expected +0.6%, Sep +1.7%.
1000 ETUniversity of Michigan final-Nov U.S. consumer sentiment expected +0.2 to 98.0, prelim-Nov -2.9 to 97.8.
1030 ETEIA weekly Petroleum Status Report.
1100 ETTreasury announces amount of 2-year T-notes (previous $26 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Nov 27-28
1400 ETMinutes of the Oct 31-Nov 1 FOMC meeting.
1500 ETUSDA Oct Cold Storage.
U.S. STOCK CALENDAR11/21/2017
NameTickerTimeDescriptionPeriodEstimate
Hormel Foods CorpHRL USBef-mktQ4 2017 Earnings ReleaseQ4 170.396
Jacobs Engineering Group IncJEC USBef-mktQ4 2017 Earnings ReleaseQ4 170.823
Patterson Cos IncPDCO USBef-mktQ2 2018 Earnings ReleaseQ2 180.539
Campbell Soup CoCPB USBef-mktQ1 2018 Earnings ReleaseQ1 180.972
Lowe's Cos IncLOW US06:00Q3 2018 Earnings ReleaseQ3 181.023
Dollar Tree IncDLTR USBef-mktQ3 2018 Earnings ReleaseQ3 180.899
Burlington Stores IncBURL USBef-mktQ3 2018 Earnings ReleaseQ3 180.656
Medtronic PLCMDT US06:45Q2 2018 Earnings ReleaseQ2 181.022
Signet Jewelers LtdSIG US07:00Q3 2018 Earnings ReleaseQ3 180.133
Analog Devices IncADI US08:00Q4 2017 Earnings ReleaseQ4 171.364
Medtronic PLCMDT US08:00Q2 2018 Earnings CallQ2 18
Campbell Soup CoCPB US08:30Q1 2018 Earnings CallQ1 18
Signet Jewelers LtdSIG US08:30Q3 2018 Earnings CallQ3 18
Burlington Stores IncBURL US08:30Q3 2018 Earnings CallQ3 18
Eaton Vance CorpEV US09:00Q4 2017 Earnings ReleaseQ4 170.706
Lowe's Cos IncLOW US09:00Q3 2018 Earnings CallQ3 18
Dollar Tree IncDLTR US09:00Q3 2018 Earnings CallQ3 18
Hormel Foods CorpHRL US09:30Q4 2017 Earnings CallQ4 17
Analog Devices IncADI US10:00Q4 2017 Earnings CallQ4 17
Jacobs Engineering Group IncJEC US10:00Q4 2017 Earnings CallQ4 17
Patterson Cos IncPDCO US10:00Q2 2018 Earnings CallQ2 18
Westar Energy IncWR US11:00Extraordinary Shareholders Meeting - M&A Vote
Eaton Vance CorpEV US11:00Q4 2017 Earnings CallQ4 17
Great Plains Energy IncGXP USExtraordinary Shareholders Meeting - M&A Vote
Hewlett Packard Enterprise CoHPE USAft-mktQ4 2017 Earnings ReleaseQ4 170.282
GameStop CorpGME USAft-mktQ3 2018 Earnings ReleaseQ3 180.439
salesforce.com IncCRM USAft-mktQ3 2018 Earnings ReleaseQ3 180.365
Copart IncCPRT USAft-mktQ1 2018 Earnings ReleaseQ1 180.266
HP IncHPQ USAft-mktQ4 2017 Earnings ReleaseQ4 170.442
Hewlett Packard Enterprise CoHPE US16:30Q4 2017 Earnings CallQ4 17
GameStop CorpGME US17:00Q3 2018 Earnings CallQ3 18
salesforce.com IncCRM US17:00Q3 2018 Earnings CallQ3 18
HP IncHPQ US17:35Q4 2017 Earnings CallQ4 17

Monday, November 20, 2017

Xunlei - Chart of the Day

Xunlei (XNET) is the Barchart Chart of the Day,  The Chinese Internet software company has a Trend Spotter buy signal, a Weighted Alpha of 251.34+ and gained  343.75% in the last month.

The Chart of the Day belongs to Xunlei (XNAT).  I found the Chinese Internet software stock by using Barchart to sort today's Top Stocks to Own list first for the highest Weighted Alpha, then used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 10/16 the stock has gained 298.12%.

Xunlei Limited operates an internet platform in China based on cloud computing. It provides users with quick and easy access to digital media content through its core products and services, Xunlei Accelerator and the cloud acceleration subscription services. The Company offers services such as cloud-based subscription services, online advertising, online games, software licensing, and content distribution. Xunlei Limited is based in Shenzhen, the People's Republic of China



The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signals
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 191.34% in the last month
  • Relative Strength Index 79.35%
  • Technical support level at 14.16
  • Recently traded at 19.45 with a 50 day moving average of 7.21
Fundamental factors:
  • Market Cap $1.01 billion
  • At the present time none of the major Wall Street firms are making projections on the stock
  • The individual investors on Motley Fool that are following the stock vote 5 to 0 that the stock will beat the market.
  • The is a very highly speculative issue.  It's recent rocket ride is not based on analysts recommendations or projections.  I would not be a bit surprised to find this to either be an unannounced buy out or a pump and dump.  Your guess is as good as mine --- just a guess!

Morning Call 11/20

Barchart Morning Call

OVERNIGHT MARKETS AND NEWS
Dec E-mini S&Ps (ESZ17 -0.06%) this morning are down -0.02% on concern over passage of U.S. tax reform legislation. European stocks are up +0.23%, led by strength in automakers, after Volkswagen AG raised its 2020 sales growth forecast to 25%, up from a forecast of 20% in March. The upside in European stocks was limited after German Chancellor Merkel's attempt to form a new government collapsed after a month of coalition talks fell apart over disputes about migration policies that prompted the Free Democrats to walk out of the negotiations late Sunday night. That may spur Chancellor Merkel to ask German President Steinmeier to order a second national election, most likely in the spring, or form a minority government headed by her Christian Democratic bloc. Asian stocks settled mixed: Japan -0.60%, Hong Kong +0.21%, China +0.28%, Taiwan -0.35%, Australia -0.19%, Singapore +0.12%, South Korea =0.38%, India +0.05%. China's Shanghai Composite rebounded from a 1-1/2 month low and closed higher as property developers and home building stocks rallied after China Oct new home prices increased from Sep.

The dollar index (DXY00 +0.08%) is up +0.12%. EUR/USD (^EURUSD) is down -0.12%. USD/JPY (^USDJPY) is up +0.13%.
Dec 10-year T-note prices (ZNZ17 +0.10%) are up +2 ticks.
China Oct new home prices rose in 50 of the 70 cities tracked by the government, an improvement from 44 of the 70 that rose in Sep.
German Oct PPI rose +0.3% m/m and +2.7% y/y, right on expectations.
The Japan Oct trade balance shrank to a surplus of +285.4 billion yen, narrower than expectations of +330.0 billion yen. Oct exports rose +14.0% y/y, weaker than expectations of +15.7% y/y. Oct imports rose +18.9% y/y, weaker than expectations of +20.2% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Oct leading indicators (expected +0.7%, Sep -0.2%), (2) USDA weekly grain export inspections, (3) USDA crop conditions and progress report.
Notable Russell 2000 earnings reports today include: Intuit (consensus $0.04), Brocade Communicates (0.18), Palo Alto (0.68), Urban Outfitters (0.33), Agilent Technologies (0.62).
U.S. IPO's scheduled to price today: none.
Equity conferences this week: none.
OVERNIGHT U.S. STOCK MOVERS
Wal-Mart (WMT -2.16%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Monster Beverage (MNST +0.27%) was downgraded to 'Negative' from 'Neutral' at Susquehanna Financial with a price target of $51.
Verizon (VZ +1.45%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities with a target price of $50.
General Motors (GM +0.64%) was upgraded to 'Buy' from 'Neutral' at Guggenheim Securities.
Delphi Automotive Plc (DLPH -0.54%) was upgraded to 'Buy' from 'Neutral' at Bank of America/Merrill Lynch with a price target of $120.
Cardinal Health (CAH +0.16%) was downgraded to 'Underweight' from 'Equal weight' at Morgan Stanley with a price target of $51.
Resolute Energy (REN +4.02%) was upgraded to 'Overweight' from suspended coverage at Barclays with a 12-month target price of $37.
Jack in the Box (JACK +0.56%) was downgraded to 'Neutral' from 'Outperform' at Wedbush.
WGL Holdings (WGL -0.17%) reported a Q4 operating loss of -17 cents per share, narrower than consensus of -20 cents.
Advanced Accelerator Applications SA (AAAP -0.05%) American depository receipts were downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
Pointer Telocation (PNTR -1.13%) was downgraded to 'Neutral' from 'Buy' at Roth Capital Partners.
Johnson & Johnson (JNJ -0.63%) said patients treated with its Invokana for type 2 diabetes had a 43% reduced risk for all-cause mortality and hospitalization for heart failure after an average of 1.6 years, compared to similar patients treated with a non-SGLT2i medication.
California Resources (CRC +4.46%) fell 4% in after-hours trading after it entered into an equity distribution pact with Morgan Stanley to sell up to 6 million shares of common stock from time to time.
Etsy (ETSY +0.30%) gained almost 1% in after-hours trading after the company announced a $100 million stock buyback program.
MARKET COMMENTS
Dec S&P 500 E-mini stock futures (ESZ17 -0.06%) this morning are down -0.50 points (-0.02%). Friday's closes: S&P 500 -0.26%, Dow Jones -0.43%, Nasdaq -0.39%. The S&P 500 on Friday closed lower on some concern that Senate Republicans may not have the support to pass tax reform legislation and the -7 point decline in the U.S. Nov Kansas City Fed manufacturing activity to 16, weaker than expectations of -2 to 21. Stocks were supported by news that U.S. Oct housing starts rose +13.7% to a 1-year high of 1.29 million, stronger than expectations of +5.6% to 1.19 million.
Dec 10-year T-note prices (ZNZ17 +0.10%) this morning are up +2 ticks. Friday's closes: TYZ7 +1.50, FVZ7 +0.25. Dec 10-year T-notes on Friday closed higher on the the decline in stocks, which boosted the safe-haven demand for T-notes, and on reduced inflation expectations after the 10-year T-note breakeven inflation rate fell to a 1-week low.
The dollar index (DXY00 +0.08%) this morning is up +0.111 (+0.12%). EUR/USD (^EURUSD) is down -0.0014 (-0.12%) and USD/JPY (^USDJPY) is up +0.15 (+0.13%). Friday's closes: Dollar Index -0.270 (-0.29%), EUR/USD +0.0020 (+0.17%), USD/JPY -0.96 (-0.85%). The dollar index on Friday closed lower on the slump in stocks, which sent USD/JPY to a 1-month low on increased safe-haven demand for the yen. The dollar was also undercut by the decline in the 10-year T-note yield, which reduced the dollar's interest rate differentials.
Dec crude oil (CLZ17 -0.55%) this morning is down -20 cents (-0.35%) and Dec gasoline (RBZ17 -0.91%) is -0.0056 (-0.32%). Friday's closes: Dec WTI crude +1.41 (+2.56%), Dec gasoline +0.0310 (+1.81%). Dec crude oil and gasoline on Friday closed higher on a weaker dollar and on comments by Saudi Arabian Energy Minister Khalid Al-Falih that OPEC should announce an extension of output cuts when it meets on Nov 30.
Metals prices this morning are lower with Dec gold (GCZ17 -0.35%-5.9 (-0.46%), Dec silver (SIZ17 -1.08%-0.213 (-1.23%) and Dec copper (HGZ17 -0.18%-0.002 (-0.07%). Friday's closes: Dec gold +18.3 (+1.43%), Dec silver +0.301 (+1.76%), Dec copper +0.0190 (+0.62%). Metals prices on Friday closed higher with Dec gold and Dec silver at 1-month highs. Metals prices were boosted by a weaker dollar and the stronger-than-expected U.S. Oct housing starts and building permits, which is positive for copper consumption. Copper prices were also supported by tighter supplies after LME copper inventories fell -3,850 MT to a 2-month low of 247,700 MT.
GLOBAL EVENT CALENDAR11/20/2017
Monday, Nov 20
US1000 ETOct leading indicators expected +0.7%, Sep -0.2%.
1100 ETUSDA weekly grain export inspections.
1600 ETUSDA crop conditions and progress report.
Tuesday, Nov 21
US0830 ETOct Chicago Fed national activity index expected +0.03 to 0.20, Sep +0.54 to +0.17.
1000 ETOct existing home sales expected +0.2% to 5.40 million, Sep +0.7% to 5.39 million.
1300 ETTreasury auctions $13 billion of 2-year floating-rate notes.
1800 ETFed Chair Janet Yellen speaks at New York Universitys Stern Business School.
U.S. STOCK CALENDAR11/20/2017

NameTickerTimeDescriptionPeriodEstimate
Brocade Communications Systems IncBRCD USQ4 2017 Earnings ReleaseQ4 170.18
Intuit IncINTU USAft-mktQ1 2018 Earnings ReleaseQ1 180.044
Palo Alto Networks IncPANW USAft-mktQ1 2018 Earnings ReleaseQ1 180.683
Urban Outfitters IncURBN USAft-mktQ3 2018 Earnings ReleaseQ3 180.333
Agilent Technologies IncA US16:05Q4 2017 Earnings ReleaseQ4 170.624
Intuit IncINTU US16:30Q1 2018 Earnings CallQ1 18
Palo Alto Networks IncPANW US16:30Q1 2018 Earnings CallQ1 18
Agilent Technologies IncA US16:30Q4 2017 Earnings CallQ4 17
Urban Outfitters IncURBN US17:00Q3 2018 Earnings CallQ3 18