Saturday, August 1, 2015

Star Gas Partners - Buy Signals

Today I added Star Gas Partners (SGU) to the Barchart Van Meerten Speculative portfolio for great price momentum.


Barchart technical indicators:
  • 100.% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 13.02% in the last month
  • Relative Strength Index 75.75
  • Barchart computes a technical support level at 9.62
  • Recently traded at 9.98 with a 50 day moving average of 8.96


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Friday, July 31, 2015

Galapagos - All Time High

Galapagos (GLPG) is the Barchart Chart of the Day.  The Belgium biotech company has a Trend Spotter buy signal,  a Weighted Alpha of 223.20+ and gained 212.27% in the last year.

The Chart of the Day belongs to Galapagos a Belgium biotech ADR.  I found the ADR by using Barchart to sort today's All Time High list for the stocks with the highest Weighted Alpha then used the Flipchart feature to review the charts.

Galapagos NV is a biotechnology company. The Company's operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium.


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% Barchart technical buy signals
  • Weighted Alpha of 223.20+
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 17.77% in the last month
  • Relative Strength Index 66.63%
  • Barchart computes a technical support level at 57.69
  • Recently traded at 60.65 with a 50 day moving average of 54.26
Fundamental factors:
  • Market Cap $2.36 billion
  • No revenue and earnings estimates have been released by Wall Street analysts
  • Morgan Stanley - Overweight
  • Credit Suisse - Outperform
  • Nomura - Buy
Since the stock is new I'd use the 100 day moving average vs price as my exit point.
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BARCHART MORING CALL 7/31

OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU15 -0.20%) this morning are trading slightly lower by -2.50 points (-0.12%) on negative carry-over from this morning's slightly lower trade in European stocks with the EuroStoxx 50 index down -0.08%. In addition, the Shanghai Composite index today closed -1.13% and lower commodity prices are hurting commodity producer stocks. The markets remain worried about China and a Fed rate hike later this year. On the more positive side, the MSCI Emerging Markets Index is up +0.3% this morning.
Asian stocks today closed mostly higher: Japan +0.30%, Hong Kong +0.56%, China -1.13%, Taiwan +0.16%, Australia +0.52%, Singapore -1.45%, South Korea +0.28%, India +1.48%, Turkey +0.92%.
The dollar index (DXY00 -0.21%) this morning is down -0.291 (-0.30%) while EUR/USD (^EURUSD) is up +0.0041 (+0.38%) and USD/JPY (^USDJPY) is up +0.13 (+0.10%). Sep 10-year T-note prices (ZNU15 -0.05%) this morning are down -2.5 ticks since global stocks are generally stable this morning.
Commodity prices this morning are down by -0.33% on average. Sep crude oil (CLU15 -1.77%) this morning is down -0.91 (-1.88%) and Sep gasoline (RBU15 +0.06%) is down -0.0027 (-0.15%) as bearish sentiment prevails. Metals prices this morning are trading lower with Aug gold (GCQ15 -0.74%) down -8.5 (-0.78%), Sep silver (SIU15 -1.16%) down -0.161 (-1.10%), and Sep copper (HGU15 -0.63%) down -0.016 (-0.65%). Grains are steady to higher. Softs are mixed.
The Russian central bank today cut its key rate by 50 bp to 11.0%, in line with most market forecasts. Today's rate cut was the fifth this year. The Russian bank was able to slowly cut the rate this year, which was raised sharply late last year to as high as 17% when U.S. and European sanctions over Ukraine caused the ruble to plunge. The market consensus is that the Russian economy this year will fall by -3.5% but then recover to +0.5% in 2016 and +1.3% in 2017.
Greek Prime Minister Tsipras managed to delay a Syriza party congress until September, which should come after his government signs off on a 3-year bailout program some time in August. Members in his Syriza party who are opposed to the bailout had hoped to hold a party congress as early as this weekend, which could have led to a split in the party and could have forced new elections. The outcome is favorable for the markets since it suggests that Ms. Tsipras should be able to push the 3-year bailout through the Greek parliament before new elections are held, likely this autumn.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Key U.S. reports today include: (1) Q2 employment cost index (expected +0.6% after Q1's +0.7%), (2) Jul Milwaukee ISM (expected +3.45 to 50.00, Jun -1.15 to 46.55), (3) Jul Chicago PMI (expected +1.4 to 50.8, Jun +3.2 to 49.4), and (4) final-July U.S. consumer sentiment from the University of Michigan (expected +0.7 to 94.0, prelim-Jul -2.8 to 93.3).
There are 13 of the S&P 500 companies that report earnings today with notable reports including: Exxon Mobil (consensus $1.11), Chevron (1.16), Phillips 66 (1.81), Bershire Hathaway (3038), Aon (1.30), Tyco (0.55), Royal Caribbean (0.72).
U.S. IPO's scheduled to price today include: Ardelyx (ARDX), Accelerize (ACLZ), NovaBay Pharma (NBY).
Equity conferences this week: none.

Sep E-mini S&Ps this morning are trading slightly lower by -2.50 points (-0.12%) on negative carry-over from this morning's slightly lower -0.08% trade in European stocks and today's -1.13% sell-off in Chinese stocks. Thursday's closes: S&P 500 unchanged, Dow Jones -0.03%, Nasdaq +0.33%. The S&P 500 on Thursday closed little changed, finding support from general optimism about Q2 earnings as about three-quarters of reporting SPX companies have surprised to the upside, and from relief that the Chinese stock market appears to be holding and has not fallen below Monday’s lows. However, factors causing downward pressure yesterday included the slightly weaker-than-expected U.S. Q2 GDP report of +2.3% (vs expectations of +2.5%) and a -4% decline in Procter & Gamble and -1.8% decline in Facebook on negative earnings news.
OVERNIGHT U.S. STOCK MOVERS
  • SPX earnings reports this morning have all been positive thus far: Weyerhaeuser (WY +0.53%) (0.26 vs 0.20 consensus), Tyco (TYC +0.38%) (0.59 vs 0.56), Aon (AON +0.06%) (1.31 vs 1.29), Newell Rubbermaid (NWL +1.16%) (0.64 vs 0.62), Legg Mason (LM +1.16%) (0.84 vs 0.83).
  • Amgen (AMGN +0.13%) is up +1% in pre-market trading after reporting favorable earnings of 2.57 (vs 2.43).
  • LinkedIn (LNKD -2.09%) fell 4% as concerns arose about slowing core growth.
  • SPX earnings reports late yesterday afternoon were mostly positive: Electronic Arts (EA +0.17%) (0.15 vs 0.03), Western Union (WU -0.11%) (0.41 vs 0.39), Apartment Investment (AIV -0.53%) (0.56 vs 0.54), Hanesbrands (HBI +1.19%) (0.50 vs 0.499), Flowserve (FLS +0.28%) (0.80 vs 0.79), Eversource Energy (ES +0.99%) (0.66 vs 0.56), KLA-Tencor (KLAC +0.62%) (0.99 vs 0.92), FirstEnergy (FE +1.07%) (0.53 vs 0.47), PerkinElmer (PKI +1.32%) (0.60 vs 0.59), Expedia (EXPE +0.69%) (1.02 vs 0.87), Universal Health Services (UHS -0.61%) (1.85 vs 1.65).
  • Negative SPX earnings reports late yesterday included: Leggett & Platt (LEG +0.86%) (0.53 vs 0.538), Broadcom (BRCM -0.89%) (0.72 vs 0.75), Fluor (FLR +1.01%) (1.00 vs 1.06).
MARKET COMMENTS
Sep 10-year T-note prices this morning are down -2.5 ticks since global stocks are generally stable this morning. Thursday's closes: TYU5 +1, FVU5 -2.50. Sep 10-year T-notes on Thursday closed slightly higher on the sluggish stock market and on the slightly weaker-than-expected Q2 GDP report of +2.3%, which did not create any fresh pressure on the Fed to begin its rate-hike regime. T-notes continued to see some downward pressure from supply overhang as the Treasury sold 7-year T-notes to conclude this week’s $105 billion T-note package.
The dollar index this morning is down -0.291 (-0.30%) while EUR/USD is up +0.0041 (+0.38%) and USD/JPY is up +0.13 (+0.10%). Thursday's closes: Dollar Index +0.58 (+0.60%), EUR/USD -0.0052 (-0.47%), USD/JPY +0.20 (+0.16%). The dollar index on Thursday closed moderately higher on technical buying, continued ideas that the Fed will tighten by year-end, and weakness in EUR/USD as the IMF said it will not join a Greek bailout unless the Eurozone provides debt relief and assurance of long-term debt sustainability.
GLOBAL EVENT CALENDAR07/31/2015
US0830 ETQ2 employment cost index expected +0.6%, Q1 +0.7%.
0900 ETJul Milwaukee ISM expected +3.45 to 50.00, Jun -1.15 to 46.55.
0945 ETJul Chicago PMI expected +1.4 to 50.8, Jun +3.2 to 49.4.
1000 ETFinal-July U.S. consumer sentiment (University of Michigan) expected +0.7 to 94.0, prelim-Jul -2.8 to 93.3.
JPN0100 ETJapan Jun housing starts expected +3.0% y/y annualized to 913,000, May +5.8% y/y annualized to 912,000.
0100 ETJapan Jun construction orders, May -7.4% y/y.
GER0200 ETGerman Jun retail sales expected +0.1% m/m and +4.1% y/y, May +0.2% m/m and -0.4% y/y.
UK0430 ETUK Jul Lloyds business barometer, Jun 55.
EUR0500 ETEurozone Jul CPI estimate expected +0.2% y/y, Jun +0.2% y/y. Jul CPI core expected +0.8% y/y, Jun +0.8% y/y.
0500 ETEurozone Jun unemployment rate expected -0.1 to 11.0%, May 11.1%.
CHI2100 ETChina Jul manufacturing PMI, Jun 50.2. Jul non-manufacturing PMI, Jun 53.8.
U.S. STOCK CALENDAR07/31/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Aon PLCAON USBef-mktQ2 2015 Earnings ReleaseQ2 20151.295
Newell Rubbermaid IncNWL USBef-mktQ2 2015 Earnings ReleaseQ2 20150.623
Tyco International PlcTYC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.554
Weyerhaeuser CoWY USBef-mktQ2 2015 Earnings ReleaseQ2 20150.198
Royal Caribbean Cruises LtdRCL USBef-mktQ2 2015 Earnings ReleaseQ2 20150.719
Ameren CorpAEE USBef-mktQ2 2015 Earnings ReleaseQ2 20150.606
Seagate Technology PLCSTX USBef-mktQ4 2015 Earnings ReleaseQ4 20150.634
Legg Mason IncLM US7:00Q1 2016 Earnings ReleaseQ1 20160.83
Public Service Enterprise Group IncPEG US7:30Q2 2015 Earnings ReleaseQ2 20150.543
Exxon Mobil CorpXOM US8:00Q2 2015 Earnings ReleaseQ2 20151.111
Legg Mason IncLM US8:00Q1 2016 Earnings CallQ1 2016
Tyco International PlcTYC US8:00Q3 2015 Earnings CallQ3 2015
Phillips 66PSX US8:00Q2 2015 Earnings ReleaseQ2 20151.814
Aon PLCAON US8:30Q2 2015 Earnings CallQ2 2015
Chevron CorpCVX US8:30Q2 2015 Earnings ReleaseQ2 20151.158
Newell Rubbermaid IncNWL US8:30Q2 2015 Earnings CallQ2 2015
Leggett & Platt IncLEG US9:00Q2 2015 Earnings CallQ2 2015
Eversource EnergyES US9:00Q2 2015 Earnings CallQ2 2015
Universal Health Services IncUHS US9:00Q2 2015 Earnings CallQ2 2015
Reynolds American IncRAI US9:00Investor Meeting - New YorkY 2015
Seagate Technology PLCSTX US9:00Q4 2015 Earnings CallQ4 2015
Exxon Mobil CorpXOM US9:30Q2 2015 Earnings CallQ2 2015
Weyerhaeuser CoWY US10:00Q2 2015 Earnings CallQ2 2015
Royal Caribbean Cruises LtdRCL US10:00Q2 2015 Earnings CallQ2 2015
FirstEnergy CorpFE US10:00Q2 2015 Earnings CallQ2 2015
Ameren CorpAEE US10:00Q2 2015 Earnings CallQ2 2015
Chevron CorpCVX US11:00Q2 2015 Earnings CallQ2 2015
Public Service Enterprise Group IncPEG US11:00Q2 2015 Earnings CallQ2 2015
Flowserve CorpFLS US11:00Q2 2015 Earnings CallQ2 2015
Phillips 66PSX US12:00Q2 2015 Earnings CallQ2 2015
Apartment Investment & Management CoAIV US13:00Q2 2015 Earnings CallQ2 2015
Essex Property Trust IncESS US14:00Q2 2015 Earnings CallQ2 2015
Berkshire Hathaway IncBRK/A USQ2 2015 Earnings ReleaseQ2 20153038.09
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Thursday, July 30, 2015

INC Research - All Time High

INC Research (INCR) is the Barchart Chart of the Day.  The medical services company has a Trend Spotter buy signal, a Weighted Alpha of 154.70 and gained 132.41% in the last year.

The Chart of the Day belongs to INC Research (INCR).  I found the medical services stock by using Barchart to sort today's All Time High list for the stocks with the highest Weighted Alpha then used the Flipchart feature to review the stocks.  Since the Trend Spotter signaled a buy on 7/29 the stock gained 10.33%.

INC Research Holdings, Inc. is a global contract research organization. It provides the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Its services include clinical trial management services comprising patient recruitment and retention, project management, clinical monitoring, drug safety/pharmacovigilance, medical affairs, quality assurance, regulatory and medical writing, and functional service; and data services consisting of clinical data management, electronic data capture, and biostatistics. INC Research Holdings, Inc. is headquartered in Raleigh, North Carolina.


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% Barchart technical buy signals
  • Weighted Alpha of 154.71+
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 18.69% in the last month
  • Relative Strength Index 72.91%
  • Barchart computes a technical support level at 42.42
  • Recently traded at 47.62 with a 50 day moving average of 39.15
Fundamental factors:
  • Market Cap $2.44 billion
  • Revenue expected to grow 10.50% this year and another 11.20% next year
  • Earnings estimated to increase 84.30% this year, an additional 16.30% next year and continue to increase at an annual rate of 17.50% for the next 5 years
  • Wall Street analysts issued 3 strong buy, 3 buy and 2 hold recommendations on the stock
The 20-100 Day MACD Oscillator has been a reliable technical trading strategy for this stock.

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RVLT GTXI - Sell Signals

Today I deleted Nexxus Lighting (RVLT) and GTX Inc (GTXI) from the Barchart Van Meerten Speculative portfolio for negative price momentum.

Nexxus Lighting (RVLT)


Barchart technical indicators:
  • 88% Bar hart technical sell signals
  • Trend Spotter sell signal
  • Below its 20, 50 and 100 day moving averages
  • 57.43% off its 52 week high
  • Relative Strength Index 35.02%
GTX Inc (GTXI)


Barchart technical indicators:
  • 24% Barchart technical sell signal
  • Trend Spotter sell signal
  • Below its 20 and 50 day moving averages
  • 28.93% off its 52 week high
  • Relative Strength Index 37.51%




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BARCHART MORNING CALL 7/30

OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU15 -0.06%) this morning are little changed while the EuroStoxx 50 index is up +0.47%. European stocks are higher on the rise in Eurozone economic confidence to a new 4-year high and positive earnings news. European stocks are broadly higher today with 16 of the 19 EuroStoxx 600 sectors showing gains, led by technology and oil and gas. Meanwhile, the Shanghai Composite Index today fell by -2.20%, giving back some of Wednesday's +3.44% upward rebound. Facebook is down -2.3% this morning after its Q2 earnings report late yesterday.
The markets this morning are mainly looking ahead to today's U.S. Q2 GDP report, which is expected to improve to +2.5% after the dismal -0.2% performance in Q1.
Asian stocks today closed mixed: Japan +1.08%, Hong Kong -0.49%, China -2.20%, Taiwan +1.03%, Australia +0.81%, Singapore -1.05%, South Korea -0.96%, India +0.51%, Turkey +0.18%.
The dollar index (DXY00 +0.36%) this morning is up +0.341 (+0.35%) while EUR/USD (^EURUSD) is down -0.0022 (-0.20%) and USD/JPY (^USDJPY) is +0.40% (+0.32%). The dollar index is seeing some continued strength today on expectations for a decent U.S. GDP report and yesterday's slightly more hawkish FOMC post-meeting statement. Sep 10-year T-note prices (ZNU15 -0.18%) are down -8 ticks on reduced safe-haven demand and caution ahead of this today's U.S. GDP report.
Commodity prices are up +0.30% this morning. Sep crude oil (CLU15 +0.51%) this morning is up +0.45 (+0.92%) and Sep gasoline (RBU15 +1.59%) is up +0.0357 (+2.03%) on carry-over support from yesterday's EIA report that featured a -4.2 million bbl drop in U.S. crude oil inventories and a -1.5% drop in U.S. oil production.
Metals prices are lower this morning with Aug gold (GCQ15 -0.71%) down -6.6 (-0.60%), Sep silver (SIU15 -0.87%) down -0.108 (-0.73%), and Sep copper (HGU15 -1.64%) down -0.018 (-0.73%). Grains and softs are mostly higher.
The European Commission's July index of executive and consumer sentiment rose by +0.5 points to a new 4-year high from 103.5 in June, stronger than market expectations for a -0.3 point decline to 103.2. The July industrial confidence index rose to -2.9 from -3.4 in June. July service sector confidence rose to 8.9 from 7.9. European confidence in July received a boost from Greece's preliminary agreement to reform conditions that should lead to a 3-year bailout agreement and avoid the chance of Greece leaving the Eurozone.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +15,000 to 270,000 after last week's -26,000 to 255,000) and continuing claims (expected -2,000 to 2.205 million after last week's -9,000 to 2.207 million), (2) Q2 GDP (expected +2.5% q/q annualized after Q1's -0.2%), and (3) the Treasury's auction of $29 billion of 7-year T-notes.
There are 54 of the S&P 500 companies that report earnings today with notable reports including: Procter & Gamble (consensus $0.95), ADP (9.59), Coca-Cola Enterprises (0.76), Valero (2.42), CME Group (0.92), Time Warner Cable (1.80), Marathon Petroleum (1.75), Amgen (2.43), Electronic Arts (0.03), Fluor (1.06), Expedia (0.86).
U.S. IPO's scheduled to price today include: TerraForm Global (GLBL), NEP Group (NEPG), Aqua Metals (AQMS), EyeGate Pharmaceuticals (EYEG), Riverbanc Multifamily Investor (RMI).
Equity conferences this week: none.

Sep E-mini S&Ps this morning are little changed with support from a +0.47% rally in European stocks but downward pressure from today's -2.20% sell-off in the China Shanghai index. Wednesday's closes: S&P 500 +0.73%%, Dow Jones +0.69%, Nasdaq +0.44%. The S&P 500 on Wednesday extended Tuesday’s upward rebound on the +3.4% rally in the Chinese Shanghai stock index and relief that the FOMC in its post-meeting statement left its interest rate guidance virtually unchanged and did not adopt language to indicate that a rate hike is likely at the next meeting in September. Stock prices were undercut, however, by the weak June U.S. pending home sales report of -1.8% m/m versus expectations of +0.9%.
OVERNIGHT U.S. STOCK MOVERS
  • Positive SPX earnings reports this morning include: ConocoPhillips (COP +1.26%) ($0.07 vs consensus of $0.04), Air Products (APD +0.99%) (1.65 vs 1.58), Cigna (CI -0.32%) (2.55 vs 2.25), Helmerich & Payne (HP +3.51%) (0.27 vs 0.12), Stanley Black & Decker (SWK +1.88%) (1.49 vs 1.44), Allegion (ALLE +2.18%) (0.71 vs 0.706), Alexion Pharma (ALXN -2.35%) (1.44 vs 1.39), Starwood Hotels (HOT +2.42%) (0.84 vs 0.74), Pitney Bowes (PBI +0.87%) (0.45 vs 0.44), Procter & Gamble (PG +0.49%) (1.00 vs 0.95), Cardinal Health (CAH +0.80%) (1.00 vs 0.99), DENTSPLY (XRAY +2.21%) (0.73 vs 0.68), Sealed Air (AEE +0.79%) (0.60 vs 0.53), CME Group (CME +0.88%) (0.97 vs 0.92), Delphi Automotive (DLPH +1.36%) (1.34 vs 1.339), Valero (VLO +1.49%) (2.66 vs 2.42), Coca-Cola (CCE +1.90%) (0.79 vs 0.76), SCANA (SCG +1.03%) (0.69 vs 0.67), Invesco (IVZ +1.18%) (0.62 vs 0.618).
  • Negative SPX earnings reports this morning include: TECO Energy (TE +0.51%) (0.26 vs 0.267), Ball Corp (BLL +1.61%) (0.89 vs 0.94), Time Warner (TWC +0.12%) (1.54 vs 1.80), Xcel Energy (XEL +0.42%) (0.39 vs 0.396), L-3 Communications (LLL +2.02%) (1.41 vs 1.71), Colgate-Palmolive (CL +0.79%) (0.70 vs 0.704), Occidental Petroleum (OXY +1.78%) (0.21 vs 0.225), Sigma-Aldrich (SIAL -0.04%) (1.01 vs 1.103), Marathon Petroleum (MPC +2.38%) (1.51 vs 1.75), Zimmer Biomet Holdings (ZBH +0.47%) (1.12 vs 1.57).
  • On positive earnings news late yesterday, Skechers (SKX +3.12%) rallied 10%, Teradyne (TER +0.27%) rallied 6%, and Lam Research (LRCX -0.10%) rallied +1.5%.
  • On negative earnings news late yesterday, Facebook (FB +1.78%) fell -3%, Whole Foods (WFM -0.29%) fell 11%, Lifelock (LOCK +11.15%) fell 7%, La Quinta (LQ +2.45%) fell 3%, and Whiting Petroleum (WLL +7.02%) fell 5%.
MARKET COMMENTS
Sep 10-year T-note prices are down -8 ticks on reduced safe-haven demand and caution ahead of this today's U.S. GDP report. Wednesday's closes: TYU5 -6, FVU5 -2.75. Sep 10-year T-notes on Wednesday closed mildly lower on reduced safe-haven demand as Chinese and U.S. stocks rallied and on supply overhang as the Treasury sells $105 billion of T-notes this week. T-notes found support, however, on the weak pending home sales report and relief the FOMC did not move to a more hawkish post-meeting statement.
The dollar index this morning is up +0.341 (+0.35%) while EUR/USD is down -0.0022 (-0.20%) and USD/JPY is +0.40% (+0.32%). The dollar index is seeing some continued strength today on expectations for a decent U.S. GDP report and yesterday's slightly more hawkish FOMC post-meeting statement. Wednesday's closes: Dollar Index +0.20 (+0.21%), EUR/USD -0.0076 (-0.69%), USD/JPY +0.38 (+0.31%). The dollar index on Wednesday closed mildly higher on technical buying and the rally in Chinese and U.S. stocks. However, the dollar was undercut by the weak U.S. pending home sales report and the dovish FOMC post-meeting statement, which suggested that the Fed is in no hurry to raise interest rates.
Sep crude oil this morning is up +0.45 (+0.92%) and Sep gasoline is up +0.0357 (+2.03%) on carry-over support from yesterday's EIA report that featured a -4.2 million bbl drop in U.S. crude oil inventories and a -1.5% drop in U.S. oil production. Wednesday's closes: CLU5 +0.81 (+1.69%), RBU5 +0.0066 (+0.38%). Sep crude oil and gasoline on Wednesday closed higher on the rally in Chinese stocks and EIA's report of a -4.2 million bbl decline in U.S. crude oil inventories versus expectations for a +850,000 bbl build. Crude oil prices were also boosted by the EIA report's -1.5% drop in U.S. oil production in the week ended July 24 to 9.413 million bpd, which is down by -2.0% the 43-year high of 9.610 million bpd posted in the first week of June.
GLOBAL EVENT CALENDAR07/30/2015
US0830 ETWeekly initial unemployment claims expected +15,000 to 270,000, previous -26,000 to 255,000. Weekly continuing claims expected -2,000 to 2.205 million, previous -9,000 to 2.207 million.
0830 ETQ2 GDP expected +2.5% (q/q annualized), Q1 -0.2%. Q2 personal consumption expected +2.7%, Q1 +2.1%. Q2 GDP price index expected +1.5%, Q1 unch. Q2 core PCE deflator expected +1.6% q/q, Q1 +0.8% q/q.
0830 ETUSDA weekly Export Sales.
1300 ETTreasury auctions $29 billion of 7-year T-notes.
JPN0030 ETJapan Jun vehicle production, May -16.6% y/y.
1930 ETJapan Jun jobless rate expected unch at 3.3%. Jun job-to-applicant ratio expected +0.01 to 1.20, May 1.19.
1930 ETJapan Jun overall household spending expected +1.9% y/y, May +4.8% y/y.
1930 ETJapan Jun national CPI expected +0.3% y/y, May +0.5% y/y. Jun national CPI ex-fresh food expected unch y/y, May +0.1% y/y. Jun national CPI ex food & energy expected +0.4% y/y, May +0.4% y/y.
1930 ETJapan Jul Tokyo CPI expected +0.2% y/y, Jun +0.3% y/y. Jul Tokyo CPI ex-fresh food expected unch y/y, Jun +0.1% y/y. Jul Tokyo CPI ex food & energy expected +0.2% y/y, Jun +0.2% y/y.
GER0355 ETGerman Jul unemployment change expected -5,000, Jun -1,000. Jul unemployment rate expected unch at 6.4%.
0800 ETGerman Jul CPI (EU harmonized) expected +0.3% m/m and +0.1% y/y, Jun -0.2% m/m and +0.1% y/y.
EUR0500 ETEurozone Jul economic confidence expected -0.3 to 103.2, Jun 103.5. Jul business climate indicator expected +0.06 to 0.20, Jun 0.14.
0500 ETRevised Eurozone Jul consumer confidence, previous-1.5 to -7.1.
UK1905 ETUK Jul GfK consumer confidence expected -2 to 5, Jun 7.
U.S. STOCK CALENDAR07/30/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Air Products & Chemicals IncAPD USBef-mktQ3 2015 Earnings ReleaseQ3 20151.581
Automatic Data Processing IncADP USBef-mktQ4 2015 Earnings ReleaseQ4 20150.593
Ball CorpBLL USBef-mktQ2 2015 Earnings ReleaseQ2 20150.94
Coca-Cola Enterprises IncCCE USBef-mktQ2 2015 Earnings ReleaseQ2 20150.756
Colgate-Palmolive CoCL USBef-mktQ2 2015 Earnings ReleaseQ2 20150.704
Helmerich & Payne IncHP USBef-mktQ3 2015 Earnings ReleaseQ3 20150.121
Starwood Hotels & Resorts Worldwide IncHOT USBef-mktQ2 2015 Earnings ReleaseQ2 20150.74
Host Hotels & Resorts IncHST USBef-mktQ2 2015 Earnings ReleaseQ2 20150.456
Occidental Petroleum CorpOXY USBef-mktQ2 2015 Earnings ReleaseQ2 20150.225
ConocoPhillipsCOP USBef-mktQ2 2015 Earnings ReleaseQ2 20150.037
Pinnacle West Capital CorpPNW USBef-mktQ2 2015 Earnings ReleaseQ2 20151.225
Pitney Bowes IncPBI USBef-mktQ2 2015 Earnings ReleaseQ2 20150.442
Procter & Gamble Co/ThePG USBef-mktQ4 2015 Earnings ReleaseQ4 20150.946
SCANA CorpSCG USBef-mktQ2 2015 Earnings ReleaseQ2 20150.67
Stanley Black & Decker IncSWK USBef-mktQ2 2015 Earnings ReleaseQ2 20151.443
TECO Energy IncTE USBef-mktQ2 2015 Earnings ReleaseQ2 20150.267
Cardinal Health IncCAH USBef-mktQ4 2015 Earnings ReleaseQ4 20150.986
Ensco PLCESV USBef-mktQ2 2015 Earnings ReleaseQ2 20151.026
BorgWarner IncBWA USBef-mktQ2 2015 Earnings ReleaseQ2 20150.829
Alexion Pharmaceuticals IncALXN USBef-mktQ2 2015 Earnings ReleaseQ2 20151.392
Iron Mountain IncIRM USBef-mktQ2 2015 Earnings ReleaseQ2 20150.538
Valero Energy CorpVLO USBef-mktQ2 2015 Earnings ReleaseQ2 20152.42
L-3 Communications Holdings IncLLL USBef-mktQ2 2015 Earnings ReleaseQ2 20151.711
CME Group Inc/ILCME USBef-mktQ2 2015 Earnings ReleaseQ2 20150.924
Time Warner Cable IncTWC USBef-mktQ2 2015 Earnings ReleaseQ2 20151.796
Xcel Energy IncXEL USBef-mktQ2 2015 Earnings ReleaseQ2 20150.396
Marathon Petroleum CorpMPC USBef-mktQ2 2015 Earnings ReleaseQ2 20151.746
Delphi Automotive PLCDLPH USBef-mktQ2 2015 Earnings ReleaseQ2 20151.339
Allegion PLCALLE USBef-mktQ2 2015 Earnings ReleaseQ2 20150.703
WestRock CoWRK USBef-mktQ3 2015 Earnings ReleaseQ3 20151.017
Cigna CorpCI US6:30Q2 2015 Earnings ReleaseQ2 20152.308
DENTSPLY International IncXRAY US7:00Q2 2015 Earnings ReleaseQ2 20150.683
Sealed Air CorpSEE US7:00Q2 2015 Earnings ReleaseQ2 20150.53
Xylem Inc/NYXYL US7:00Q2 2015 Earnings ReleaseQ2 20150.433
Invesco LtdIVZ US7:30Q2 2015 Earnings ReleaseQ2 20150.618
Zimmer Biomet Holdings IncZBH US7:30Q2 2015 Earnings ReleaseQ2 20151.566
Owens-Illinois IncOI US8:00Q2 2015 Earnings CallQ2 2015
Pitney Bowes IncPBI US8:00Q2 2015 Earnings CallQ2 2015
Stanley Black & Decker IncSWK US8:00Q2 2015 Earnings CallQ2 2015
MetLife IncMET US8:00Q2 2015 Earnings CallQ2 2015
Mondelez International IncMDLZ US8:00Q2 2015 Earnings ReleaseQ2 20150.394
Zimmer Biomet Holdings IncZBH US8:00Q2 2015 Earnings CallQ2 2015
Michael Kors Holdings LtdKORS US8:00Annual General MeetingY 2015
Automatic Data Processing IncADP US8:30Q4 2015 Earnings CallQ4 2015
Cigna CorpCI US8:30Q2 2015 Earnings CallQ2 2015
Procter & Gamble Co/ThePG US8:30Q4 2015 Earnings CallQ4 2015
Cardinal Health IncCAH US8:30Q4 2015 Earnings CallQ4 2015
DENTSPLY International IncXRAY US8:30Q2 2015 Earnings CallQ2 2015
Iron Mountain IncIRM US8:30Q2 2015 Earnings CallQ2 2015
CME Group Inc/ILCME US8:30Q2 2015 Earnings CallQ2 2015
Time Warner Cable IncTWC US8:30Q2 2015 Earnings CallQ2 2015
Delphi Automotive PLCDLPH US8:30Q2 2015 Earnings CallQ2 2015
Allegion PLCALLE US8:30Q2 2015 Earnings CallQ2 2015
Baxalta IncBXLT US8:30Business Update Call
Host Hotels & Resorts IncHST US9:00Q2 2015 Earnings CallQ2 2015
TECO Energy IncTE US9:00Q2 2015 Earnings CallQ2 2015
Unum GroupUNM US9:00Q2 2015 Earnings CallQ2 2015
Invesco LtdIVZ US9:00Q2 2015 Earnings CallQ2 2015
Xylem Inc/NYXYL US9:00Q2 2015 Earnings CallQ2 2015
WestRock CoWRK US9:00Q3 2015 Earnings CallQ3 2015
Williams Cos Inc/TheWMB US9:30Q2 2015 Earnings CallQ2 2015
BorgWarner IncBWA US9:30Q2 2015 Earnings CallQ2 2015
Air Products & Chemicals IncAPD US10:00Q3 2015 Earnings CallQ3 2015
Coca-Cola Enterprises IncCCE US10:00Q2 2015 Earnings CallQ2 2015
Lincoln National CorpLNC US10:00Q2 2015 Earnings CallQ2 2015
Occidental Petroleum CorpOXY US10:00Q2 2015 Earnings CallQ2 2015
Alexion Pharmaceuticals IncALXN US10:00Q2 2015 Earnings CallQ2 2015
Boston Properties IncBXP US10:00Q2 2015 Earnings CallQ2 2015
Marriott International Inc/MDMAR US10:00Q2 2015 Earnings CallQ2 2015
Sealed Air CorpSEE US10:00Q2 2015 Earnings CallQ2 2015
Mondelez International IncMDLZ US10:00Q2 2015 Earnings CallQ2 2015
Xcel Energy IncXEL US10:00Q2 2015 Earnings CallQ2 2015
Marathon Petroleum CorpMPC US10:00Q2 2015 Earnings CallQ2 2015
Ball CorpBLL US11:00Q2 2015 Earnings CallQ2 2015
Colgate-Palmolive CoCL US11:00Q2 2015 Earnings CallQ2 2015
Helmerich & Payne IncHP US11:00Q3 2015 Earnings CallQ3 2015
Ensco PLCESV US11:00Q2 2015 Earnings CallQ2 2015
O'Reilly Automotive IncORLY US11:00Q2 2015 Earnings CallQ2 2015
Valero Energy CorpVLO US11:00Q2 2015 Earnings CallQ2 2015
L-3 Communications Holdings IncLLL US11:00Q2 2015 Earnings CallQ2 2015
ConocoPhillipsCOP US12:00Q2 2015 Earnings CallQ2 2015
Pinnacle West Capital CorpPNW US12:00Q2 2015 Earnings CallQ2 2015
Starwood Hotels & Resorts Worldwide IncHOT US13:00Q2 2015 Earnings CallQ2 2015
Murphy Oil CorpMUR US13:00Q2 2015 Earnings CallQ2 2015
Public StoragePSA US14:00Q2 2015 Earnings CallQ2 2015
Realty Income CorpO US14:30Q2 2015 Earnings CallQ2 2015
SCANA CorpSCG US15:00Q2 2015 Earnings CallQ2 2015
Western Union Co/TheWU US16:01Q2 2015 Earnings ReleaseQ2 20150.393
Broadcom CorpBRCM US16:05Q2 2015 Earnings ReleaseQ2 20150.752
KLA-Tencor CorpKLAC US16:15Q4 2015 Earnings ReleaseQ4 20150.915
Edison InternationalEIX US16:30Q2 2015 Earnings CallQ2 2015
Western Union Co/TheWU US16:30Q2 2015 Earnings CallQ2 2015
Expedia IncEXPE US16:30Q2 2015 Earnings CallQ2 2015
Hanesbrands IncHBI US16:30Q2 2015 Earnings CallQ2 2015
PerkinElmer IncPKI US17:00Q2 2015 Earnings CallQ2 2015
Amgen IncAMGN US17:00Q2 2015 Earnings CallQ2 2015
KLA-Tencor CorpKLAC US17:00Q4 2015 Earnings CallQ4 2015
Electronic Arts IncEA US17:00Q1 2016 Earnings CallQ1 2016
PerkinElmer IncPKI USAft-mktQ2 2015 Earnings ReleaseQ2 20150.59
Leggett & Platt IncLEG USAft-mktQ2 2015 Earnings ReleaseQ2 20150.538
Eversource EnergyES USAft-mktQ2 2015 Earnings ReleaseQ2 20150.562
Edison InternationalEIX USAft-mktQ2 2015 Earnings ReleaseQ2 20150.826
Universal Health Services IncUHS USAft-mktQ2 2015 Earnings ReleaseQ2 20151.646
Amgen IncAMGN USAft-mktQ2 2015 Earnings ReleaseQ2 20152.427
Flowserve CorpFLS USAft-mktQ2 2015 Earnings ReleaseQ2 20150.794
Electronic Arts IncEA USAft-mktQ1 2016 Earnings ReleaseQ1 20160.027
Essex Property Trust IncESS USAft-mktQ2 2015 Earnings ReleaseQ2 20152.34
Apartment Investment & Management CoAIV USAft-mktQ2 2015 Earnings ReleaseQ2 20150.537
FirstEnergy CorpFE USAft-mktQ2 2015 Earnings ReleaseQ2 20150.47
Fluor CorpFLR USAft-mktQ2 2015 Earnings ReleaseQ2 20151.055
Expedia IncEXPE USAft-mktQ2 2015 Earnings ReleaseQ2 20150.863
Hanesbrands IncHBI USAft-mktQ2 2015 Earnings ReleaseQ2 20150.499
Fluor CorpFLR US17:30Q2 2015 Earnings CallQ2 2015
Michael Kors Holdings LtdKORS USAnnual General Meeting
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