Texas Instruments - Chart of the Day

Texas Instruments (TXN) is the Barchart Chart of he Day.  The semiconductor company has a Trend Spotter by signal, a Weighted Alpha of 3671+ and gained 38.02% in the last year.

The Chart of the Day belongs to Texas Instruments (TXN).  I found the semiconductor stock by using Barchart to sort today's Top Stocks to Own list first by the most frequent number of new highs in the last month, then I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 8/30 the stock gained 13.77%.

Texas Instruments Incorporated operates through two segments, Analog and Embedded Processing. The Analog segment offers high volume analog and logic products for automotive safety devices, touch screen controllers, low voltage motor drivers, and integrated motor controllers; and power products to manage power requirements using battery management solutions, portable power components, power supply controls, and point-of-load products. The Embedded Processing segment offers processors, including digital signal processors and applications processors; microcontrollers, such as self-contained systems with a processor core, memory, and peripherals that are designed to control a set of specific tasks for electronic equipment; and connectivity products that enable electronic equipment to connect and transfer data wirelessly. It also provides DLP products primarily used in projectors to create high-definition images; calculators; and application-specific integrated circuits.

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:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 13.10% in the last month
• Relative Strength Index 82.68%
• Technical support level at 92.37%
• Recently traded at 93.61 with a 50 day moving average of 84.89

Fundamental factors:

• Market Cap $91.70 billion
• P/E 24.83
• Dividend yield 2.15%
• Revenue expected to grow 9.70% this year and another 3.60% next year
• Earnings estimated to increase 24.00% this year, an additional 4.10% next year and continue to compound at an annual rate of 10.48% for the next 5 years
• Wall Street analysts issued 10 strong buy, 2 buy and 11 hold recommendations on the stock

Morning Call 10/13

Barchart Morning Call

Barchart.com - Fri Oct 13, 6:50AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 +0.08%) this morning are up +0.06% and European stocks are up +0.15% on the prospects that that the ECB will extend its QE program for 9 months until Sep 2018. According to the report, an unnamed official said the ECB will reduce its bond purchases in half to 30 billion euros a month from the current 60 billion euros starting in Jan, but will extend the program until Sep of 2018. EUR/USD weakened on the report and the 10-year German bund yield dropped to a 2-1/2 week low of 0.415%. Strength in the Chinese economy is also positive for global growth after China Sep imports rose a more-than-expected +18.7% y/y, the largest increase in 6-months. Mining stocks are higher as Dec COMEX copper (HGZ17 +0.21%) climbs +0.46% to a new 1-month high on strong Chinese demand after China Sep copper imports rose +10% m/m and +26.5% y/y to 430,000 MT. Energy stocks are higher as well with Nov WTI crude oil (CLX17+1.92%) up +1.84% at a 1-1/2 week high. Crude prices rallied on strength in Chinese demand after China Sep crude imports rose +13% m/m to 9.04 million bpd, the second-highest on record. Asian stocks settled mostly higher: Japan +0.96%, Hong Kong +0.06%, China +0.13%, Taiwan +0.12%, Australia +0.34%, Singapore +0.49%, South Korea -0.23%, India +0.78%. Japan's Nikkei Stock Index rallied over 21,000 to a 20-3/4 year high and found support on comments from BOJ Governor Kuroda who said the BOJ will keep up current monetary easing to hit its 2% inflation target, even as that goal remains a distance away.

The dollar index (DXY00 +0.13%) is up +0.01%. EUR/USD (^EURUSD) is down -0.05%. USD/JPY (^USDJPY) is down -0.12% to a 2-week low.

Dec 10-year T-note prices (ZNZ17 -0.05%) are down -0.5 of a tick.

The ECB is considering reducing its QE program by half starting in Jan and extending the program for 9-months, according to unnamed officials because the deliberations are private. The ECB will reduce the pace of its asset purchases to 30 billion euros ($36 billion) a month from the current pace of 60 billion euros a month. The ECB will announce the future of their bond-buying program when they meet next on Oct 26.

The China Sep trade balance shrank to a surplus of $28.47 billion, smaller than expectations of +$38.00 billion and the smallest surplus in 6-months. Sep exports rose +8.1% y/y, weaker than expectations of +10.0% y/y. Sep imports rose +18.7% y/y, stronger than expectations of +14.7% y/y and the biggest increase in 6-months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Sep CPI (expected +0.6% m/m and +2.3% y/y, Aug +0.4% m/m and +1.9% y/y) and Sep CPI ex food & energy (expected +0.2% m/m and +1.8% y/y, Aug +0.2% m/m and +1.7% y/y), (2) Sep retail sales (expected +1.7% and +0.9% ex autos, Aug -0.2% and +0.2% ex autos), (3) Boston Fed President Eric Rosengren (non-voter) delivers opening remarks at the Boston Fed conference on “Are Rules Made to be Broken? Discretion and Monetary Policy Text,” (4) prelim-Oct University of Michigan U.S. consumer sentiment (expected -0.1 to 95.0, Sep -1.7 to 95.1), (5) Aug business inventories (expected +0.7%, Jul +0.2%), (6) Chicago Fed President Charles Evans (voter) discusses current economic conditions and monetary policy at the Wisconsin Summit on Financial Literacy in Green Bay, WI, (7) Dallas Fed President Robert Kaplan (voter) speaks in a moderated Q&A session at the CFA Institute’s Fixed Income Management Conference in Boston, (8) USDA weekly Export Sales.

Notable Russell 1000 earnings reports today include: Bank of America (consensus $0.46), Wells Fargo (1.03), First Republic Bank (1.15), PNC Financial Services (2.13), First Horizon National Bank (0.30), PacWest Bancorp (0.75), JB Hunt Transport (0.96).

U.S. IPO's scheduled to price today:

Equity conferences this week: HR Technology Conference on Tue-Fri.

OVERNIGHT U.S. STOCK MOVERS

General Motors (GM -1.28%) was upgraded to 'Overweight' from 'Equal-weight' at Barclays with a price target of $55.

Saratoga Investment (SAR +1.46%) was upgraded to 'Buy' from 'Neutral' at Compass Point Research & Trading LLS with a price target of $23.

Dollar Tree (DLTR +0.15%) was downgraded to 'Hold' from ‘Buy' at Loop Capital Markets.

Ford Motor (F -2.10%) was downgraded to 'Equal-weight' from 'Overweight' at Barclays.

Hostess Brands (TWNK -0.37%) was downgraded to 'Sell' from 'Neutral' at UBS with a price target of $11.

Nanometrics (NANO +0.03%) dropped nearly 6% in after-hours trading after it reported preliminary Q3 EPS of 20 cents-22 cents weaker than consensus of 27 cents.

Spark Therapeutics (ONCE -0.62%) rallied over 5% in after-hours trading after an FDA advisory committee voted 16-0 in favor of Spark's Luxturna for treatment in patients with vision loss due to balletic mutation-associated retinal dystrophy.

Applied Optoelectronic (AAOI -4.23%) tumbled over 15% in after-hours trading after it announced preliminary Q3 revenue of $88 million-$89 million, below prior guidance of $107 million-$115 million.

Endocyte (ECYT +0.41%) dropped 9% in after-hours trading after it filed to sell $150 million in a mixed-securities shelf offering.

EXFO Inc (EXFO +0.75%) jumped 12% in after-hours trading after it reported Q4 revenue of $63 million, above consensus of $60.9 million.

Antares Pharma (ATRS -5.33%) plunged 30% in after-hours trading after the FDA said as part of their ongoing review of the company's New Drug Application for its Xyosted injection that it has identified deficiencies that preclude the continuation of labeling and postmarking requirements at this time.

Tandem Diabetes Care (TNDM -17.89%) slumped over 25% in after-hours trading after it offered 3.2 million shares of common stock at $3.50 each, a 25% discount to Thursday's close.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.08%) this morning are up +1.50 points (+0.06). Thursday's closes: S&P 500 -0.17%, Dow Jones -0.14%, Nasdaq -0.19%. The S&P 500 on Thursday closed lower on weakness in energy stocks as crude oil prices fell -1.36% and on the +2.2% y/y rise in the U.S. Sep core PPI report (the largest year-on-year rise in 5-1/2 years) that was hawkish for Fed policy. A positive factor for stocks was the -15,000 decline in U.S. weekly jobless claims to 243,000, a bigger decline than -10,000 to 250,000.

Dec 10-year T-note prices (ZNZ17 -0.05%) this morning are down -0.5 of a tick. Thursday's closes: TYZ7 +5.00, FVZ7 +2.00. Dec 10-year T-notes on Thursday closed higher on carry-over support from a rally in German bunds after ECB Executive Board member Praet said "underlying inflation pressures are still too weak."

The dollar index (DXY00 +0.13%) this morning is up +0.008 (+0.01%). EUR/USD (^EURUSD) is -0.0006 (-0.05%) and USD/JPY (^USDJPY) is down -0.13 (-0.12%) at a 2-week low. Thursday's closes: Dollar Index +0.042 (+0.05%), EUR/USD -0.0029 (-0.24%), USD/JPY -0.22 (-0.20%). The dollar index on Thursday closed higher on the larger-than-expected increase in U.S. Sep core PPI, which was hawkish for Fed policy, and the larger-than-expected decline in U.S. weekly jobless claims, a sign of economic strength.

Nov crude oil (CLX17 +1.92%) this morning is up +93 cents (+1.84%) at a 1-1/2 week high and Nov gasoline (RBX17+2.34%) is +0.0342 (+2.16%). Thursday's closes: Nov WTI crude -0.70 (-1.36%), Nov gasoline -0.0260 (-1.62%). Nov crude oil and gasoline on Thursday closed lower on a stronger dollar and the +1.32 million bbl increase in crude supplies at Cushing to a 4-1/2 month high. Gasoline prices were supported by the +2.49 million bbl increase in EIA gasoline stockpiles, more than expectations of +200,000 bbl. Crude oil found some support on the -0.8% decline in U.S. crude production to 9.48 million bpd in the week ended Oct 6.

Metals prices this morning are mixed with Dec gold (GCZ17 -0.15%) -0.06 (-0.05%), Dec silver (SIZ17 -0.24%) -0.016(-0.09%) and Dec copper (HGZ17 +0.21%) up +0.015 (+0.46%) at a 1-month high. Thursday's closes: Dec gold +7.6 (+0.59%), Dec silver +0.133 (+0.78%), Dec copper +0.0245 (+0.79%). Metals prices on Thursday closed higher with Dec gold and Dec silver at 2-week highs and Dec copper at a 1-month high. Metals prices were boosted by carry-over support from Wednesday afternoon's minutes of the Sep 19-20 FOMC meeting, which were released after metals markets closed, that Fed members were concerned about low inflation, which was dovish for Fed policy. Metals prices were also boosted by the stronger-than-expected U.S. Sep core PPI, which boosted demand for gold as an inflation hedge, and by tighter copper supplies after LME copper inventories fell -1,025 MT to a 4-week low of 285,900 MT.

GLOBAL EVENT CALENDAR10/13/2017

		Friday, Oct 13
US	0830 ET	Sep CPI expected +0.6% m/m and +2.3% y/y, Aug +0.4% m/m and +1.9% y/y. Sep CPI ex food & energy expected +0.2% m/m and +1.8% y/y, Aug +0.2% m/m and +1.7% y/y.
	0830 ET	Sep retail sales expected +1.7% and +0.9% ex autos, Aug -0.2% and +0.2% ex autos.
	0830 ET	Boston Fed President Eric Rosengren (non-voter) delivers opening remarks at the Boston Fed conference on Are Rules Made to be Broken? Discretion and Monetary Policy Text.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Prelim-Oct University of Michigan U.S. consumer sentiment expected -0.1 to 95.0, Sep -1.7 to 95.1.
	1000 ET	Aug business inventories expected +0.7%, Jul +0.2%.
	1025 ET	Chicago Fed President Charles Evans (voter) discusses current economic conditions and monetary policy at the Wisconsin Summit on Financial Literacy in Green Bay, WI.
	1130 ET	Dallas Fed President Robert Kaplan (voter) speaks in a moderated Q&A session at the CFA Institutes Fixed Income Management Conference in Boston.
		Monday, Oct 16
US	0830 ET	Oct Empire manufacturing survey general business conditions expected -4.0 to 20.4, Sep -0.8 to 24.4.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA crop conditions and progress report.

U.S. STOCK CALENDAR10/13/2017

Name	Ticker	Time	Description	Period	Estimate
First Republic Bank/CA	FRC US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	1.15
JB Hunt Transport Services Inc	JBHT US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	0.962
PNC Financial Services Group Inc/The	PNC US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	2.127
Bank of America Corp	BAC US	06:45	Q3 2017 Earnings Release	Q3 17	0.456
First Horizon National Corp	FHN US	07:00	Q3 2017 Earnings Release	Q3 17	0.302
Wells Fargo & Co	WFC US	08:00	Q3 2017 Earnings Release	Q3 17	1.026
Bank of America Corp	BAC US	08:30	Q3 2017 Earnings Call	Q3 17
First Horizon National Corp	FHN US	09:30	Q3 2017 Earnings Call	Q3 17
PNC Financial Services Group Inc/The	PNC US	09:30	Q3 2017 Earnings Call	Q3 17
Wells Fargo & Co	WFC US	10:00	Q3 2017 Earnings Call	Q3 17
First Republic Bank/CA	FRC US	10:00	Q3 2017 Earnings Call	Q3 17
PacWest Bancorp	PACW US		Q3 2017 Earnings Release	Q3 17	0.752

Amtech Systems - Chart of the Day

Amtech Systems (ASYS) is the Barchart Chart of the Day.  The specialty equipment company has a Trend Spotter buy signal, a Weighted Alpha of 170.77+ and gained 184.93% in the last year.

The Chart of the Day belongs to Amtech Systems (ASYS).  I found the specialty equipment maker by using Barchart to sort today's 52 Week New High list, first for the highest Weighted Alpha, then for technical buy signals of 80% or more.  Lastly I use the Flipchart feature to find charts with consistent price appreciation.  Since the Trend Spotter signaled a buy on 8/8 the stock gained 38.24%.

Amtech Systems is engaged in the manufacture of several items of capital equipment, one of which is patented, used by customers in the manufacture of semiconductors. Co. has recently obtained a U.S. patent on technology on which it expects to base a proposed new photo chemical vapor deposition (``CVD``) product for use in semiconductor manufacturing facilities. The Company has engaged the University of California, Santa Cruz, to conduct a study to determine the feasibility of such a product.

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:

• 170.77+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 5 new highs and up 14.88% in the last month
• Relative Strength Index 66.83%
• Technical support level at 12.67
• Recently traded at 13.05 with  50 day moving average of 11.07

Fundamental factors:

• Market Cap $182 million
• P/E 105.17
• Revenue expected to grow 30.30% this year and another 23.70% next year
• Earnings estimated to increase 143.60% this year, an additional 134.80% next year and continue to compound at an annual rate of 20.00% for the next 5 years
• Wall Street analysts issued 2 strong buy recommendations on the stock

MORNING CALL 10/12

Barchart Morning Call

Barchart.com - Thu Oct 12, 6:42AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.21%) this morning are down -0.15% and European stocks are down -0.19% as weakness in crude oil prices drags energy stocks lower. Nov WTI crude oil (CLX17 -1.54%) is down -1.54% after API data late Wednesday showed that U.S. crude stockpiles rose +3.1 million bbl last week. Also, a -0.6% decline in JPMorgan Chase in pre-market trading is undercutting stock indexes after it reported Q3 FICC sales and trading revenue of $3.16 billion, below consensus of $3.18 billion. A rally in mining stocks is limiting the downside in equity markets as metals prices moved higher. Dec COMEX gold (GCZ17 +0.71%) is up +0.64% and Dec silver (SIZ17 +0.71%) climbed +0.60% to 2-week highs and Dec copper (HGZ17 +0.57%) is up +0.44% and posted a 1-month high after the minutes of the Sep 19-20 FOMC meeting on Wednesday afternoon showed policy makers were concerned about low inflation, which may keep the Fed from additional rate hikes. Losses in European stocks were contained after Eurozone Aug industrial production rose a more-than-expected +1.4% m/m, the biggest increase in 9-months. Asian stocks settled mostly higher: Japan +0.35%, Hong Kong +0.24%, China -0.06%, Taiwan +0.66%, Australia +0.39%, Singapore +0.70%, South Korea +0.61%, India +1.09%. Japan's Nikkei Stock Index rose to a fresh 2-year high on optimism that Prime Minister Abe's party will retain its dominant position in Japan's parliament when voters go to the polls on Oct 22.

The dollar index (DXY00 +0.03%) is up +0.05%. EUR/USD (^EURUSD) is down -0.01% and fell back from a 2-week high after ECB Executive Board member Praet said "a very substantial degree of monetary accommodation is still needed" to bolster Eurozone inflation. USD/JPY (^USDJPY) is down -0.18%.

Dec 10-year T-note prices (ZNZ17 +0.12%) are up +3 ticks.

ECB Executive Board member Praet said "a very substantial degree of monetary accommodation is still needed" to bolster Eurozone inflation. "Deflationary risks have disappeared and some measures of underlying inflation have ticked up over recent months, but overall inflation developments, despite the solid growth, have remained subdued."

Eurozone Aug industrial production rose +1.4% m/m, stronger than expectations of +0.6% m/m and the largest increase in 9-months.

Japan Sep PPI rose +0.2% m/m and +3.0% y/y, right on expectations with the +3.0% y/y gain the largest year-on-year increase in 3-years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected -10,000 to 250,000, previous -12,000 to 260,000) and continuing claims (expected -8,000 to 1.930 million, previous +2,000 to 1.938 million), (2) Sep PPI final demand (expected +0.4% m/m and +2.6% y/y, Aug +0.2% m/m and +2.4% y/y) and Sep PPI ex food & energy (expected +0.2% m/m and +2.0% y/y, Aug +0.1% m/m and +2.0% y/y), (3) Fed Governor Lael Brainard and ECB President Mario Draghi speak on a monetary policy panel at the Peterson Institute for International Economics in Washington D.C., (4) Fed Governor Jerome Powell delivers keynote address on “Prospects for Emerging Market Economies in a Normalizing Global Economy” at an Institute of International Finance conference on emerging markets, (5) Treasury auctions $12 billion of 30-year T-bonds, (6) EIA weekly Petroleum Status Report, (7) USDA Oct WASDE crop production report.

Notable Russell 1000 earnings reports today include: JPMorgan Chase (consensus $1.65), Citigroup (1.32), Omincom Group (1.09), Domino's Pizza (1.22).

U.S. IPO's scheduled to price today: Optinose (OPTN).

Equity conferences this week: HR Technology Conference on Tue-Fri, National HUBZone Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

JPMorgan Chase (JPM -0.30%) is down -0.6% in pre-market trading after it reported Q3 FICC sales and trading revenue of $3.16 billion, below consensus of $3.18 billion.

Disney (DIS -1.03%) was downgraded to 'Neutral' from 'Buy' at Guggenheim Securities.

Williams-Sonoma (WSM -1.38%) was downgraded to 'Underperform' from 'Neutral' at Credit Suisse with a price target of $44.

Host Hotels (HST +0.65%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank with a price target of $21.

Square (SQ +2.17%) was initiated as a new 'Outperform' at Oppenheimer with a price target of $35.

Juniper Networks (JNPR -1.65%) slid nearly 3% in after-hours trading after it reported preliminary Q3 revenue of $1.25 billion-$1.26 billion, below a prior estimate of $1.29 billion-$1.35 billion and below consensus of $1.33 billion.

NanoString Technologies (NSTG +0.13%) dropped nearly 10% in after-hours trading after it reported preliminary Q3 revenue of $25.9 million-$26.9 million, below consensus of $27.7 million.

Blackhawk Network Holdings (HAWK -0.90%) fell almost 7% in after-hours trading after it said it sees full-year adjusted EPS of $1.56 to $1.70, the midpoint below consensus of $1.68.

Protagonist Therapeutics (PTGX +0.71%) slumped over 10% in after-hours trading after it proposed an underwritten public offering of $50 million of its common stock.

Kandi Technologies Group (KNDI -7.82%) dropped over 5% in after-hours trading after it filed a $300 million shelf of mixed securities.

Babcock & Wilcox Enterprises (BW +4.22%) rose almost 6% in after-hours trading after Viex Capital reported a 6.4% stake in the company.

J. Jill (JILL -2.17%) plunged 35% in after-hours trading after it cut its Q3 adjusted EPS estimate to 8 cents-10 cents from an Aug 29 estimate of 18 cents-20 cents, citing lower than expected sales trends across retail and direct channels.

Ardelyx (ARDX unch) surged 45% in after-hour trading after it said its tenapanor drug for treatment of irritable bowel syndrome with constipation met statistical significance for the primary endpoint and all secondary endpoints in the second Phase 3 study.

Sigma Designs (SIGM +0.77%) rose almost 4% in after-hours trading after it said it will cut between 200 to 250 positions worldwide under its restructuring plan.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.21%) this morning are down -3.75 points (-0.15%). Wednesday's closes: S&P 500 +0.18%, Dow Jones +0.18%, Nasdaq +0.29%. The S&P 500 on Wednesday climbed to a new record high and settled higher on carry-over support from a rally in European stocks on reduced Spanish political concerns after Catalan President Puigdemont said he would seek talks with the Spanish government over the future of Catalonia rather than seek immediate independence. US stocks also received a boost from the minutes of the Sep 19-20 FOMC meeting that said some policy makers did not want to raise interest rates until they were confident inflation would rise to their 2% target.

Dec 10-year T-note prices (ZNZ17 +0.12%) this morning are up +3 ticks. Wednesday's closes: TYZ7 -1.00, FVZ7 -1.75. Dec 10-year T-notes on Wednesday closed slightly lower on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 5-month high. Losses were limited by dovish comments from Dallas Fed President Kaplan who said that he is "really nervous" that inflation expectations are low, which suggests that he may not support a Fed rate hike in Dec.

The dollar index (DXY00 +0.03%) this morning is up +0.044 (+0.05%). EUR/USD (^EURUSD) is down -0.0001 (-0.01%) and USD/JPY (^USDJPY) is down -0.20 (-0.18%). Wednesday's closes: Dollar Index -0.275 (-0.29%), EUR/USD +0.0051 (+0.43%), USD/JPY +0.05 (+0.04%). The dollar index on Wednesday fell to a 1-week low and closed lower on strength in EUR/USD which climbed to a 2-week high as Spanish political concerns eased after Catalan President Puigdemont said he is looking to negotiate with the Spanish government rather than seeking immediate independence. The dollar was also undercut by the Sep 19-20 FOMC meeting minutes that showed policy makers were concerned about persistently low inflation.

Nov crude oil (CLX17 -1.54%) this morning is down -79 cents (-1.54%) and Nov gasoline (RBX17 -0.80%) is -0.0127(-0.79%). Wednesday's closes: Nov WTI crude +0.38 (+0.75%), Nov gasoline +0.0177 (+1.11%). Nov crude oil and gasoline on Wednesday closed higher with Nov crude at a 1-week high. Crude oil prices were boosted by the fall in the dollar index to a 1-week low and by expectations for EIA crude inventories on Thursday to fall -750,000 bbl. Crude oil prices were undercut by the EIA's hike in its 2018 U.S. crude output estimate to 9.92 million bpd from 9.84 million bpd.

Metals prices this morning are higher with Dec gold (GCZ17 +0.71%) +8.3 (+0.64%) at a 2-week high, Dec silver (SIZ17+0.71%) +0.102 (+0.60%) at a 2-week high and Dec copper (HGZ17 +0.57%) +0.014 (+0.44%) at a 1-month high. Wednesday's closes: Dec gold -4.9 (-0.38%), Dec silver -0.074 (-0.43%), Dec copper +0.0350 (+1.14%). Metals on Wednesday settled mixed with Dec copper at a 1-month high. Metals prices were supported by the fall in the dollar index to a 1-week low and by tighter copper supplies after LME copper inventories fell -2,955 MT to a 3-1/2 week low of 286,925 MT. Precious metals prices were undercut by reduced safe-haven demand as Spanish political risks eased.

GLOBAL EVENT CALENDAR10/12/2017

		Thursday, Oct 12
US	0830 ET	Weekly initial unemployment claims expected -10,000 to 250,000, previous -12,000 to 260,000. Weekly continuing claims expected -8,000 to 1.930 million, previous +2,000 to 1.938 million.
	0830 ET	Sep PPI final demand expected +0.4% m/m and +2.6% y/y, Aug +0.2% m/m and +2.4% y/y. Sep PPI ex food & energy expected +0.2% m/m and +2.0% y/y, Aug +0.1% m/m and +2.0% y/y.
	1015 ET	Fed Governor Lael Brainard and ECB President Mario Draghi speak on a monetary policy panel at the Peterson Institute for International Economics in Washington D.C.
	1030 ET	Fed Governor Jerome Powell delivers keynote address on Prospects for Emerging Market Economies in a Normalizing Global Economy at an Institute of International Finance conference on emerging markets.
	1100 ET	Treasury announces amount of 30-year TIPS to be auctioned Oct 19 (previous $5 billion).
	1100 ET	EIA weekly Petroleum Status Report.
	1200 ET	USDA Oct WASDE crop production report.
	1300 ET	Treasury auctions $12 billion of 30-year T-bonds.
		Friday, Oct 13
US	0830 ET	Sep CPI expected +0.6% m/m and +2.3% y/y, Aug +0.4% m/m and +1.9% y/y. Sep CPI ex food & energy expected +0.2% m/m and +1.8% y/y, Aug +0.2% m/m and +1.7% y/y.
	0830 ET	Sep retail sales expected +1.7% and +0.9% ex autos, Aug -0.2% and +0.2% ex autos.
	0830 ET	Boston Fed President Eric Rosengren (non-voter) delivers opening remarks at the Boston Fed conference on Are Rules Made to be Broken? Discretion and Monetary Policy Text.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Prelim-Oct University of Michigan U.S. consumer sentiment expected -0.1 to 95.0, Sep -1.7 to 95.1.
	1000 ET	Aug business inventories expected +0.7%, Jul +0.2%.
	1025 ET	Chicago Fed President Charles Evans (voter) discusses current economic conditions and monetary policy at the Wisconsin Summit on Financial Literacy in Green Bay, WI.
	1130 ET	Dallas Fed President Robert Kaplan (voter) speaks in a moderated Q&A session at the CFA Institutes Fixed Income Management Conference in Boston.

U.S. STOCK CALENDAR10/12/2017

Name	Ticker	Time	Description	Period	Estimate
JPMorgan Chase & Co	JPM US	06:45	Q3 2017 Earnings Release	Q3 17	1.653
Domino's Pizza Inc	DPZ US	07:30	Q3 2017 Earnings Release	Q3 17	1.222
Citigroup Inc	C US	08:00	Q3 2017 Earnings Release	Q3 17	1.321
JPMorgan Chase & Co	JPM US	08:30	Q3 2017 Earnings Call	Q3 17
Citigroup Inc	C US	10:00	Q3 2017 Earnings Call	Q3 17
Domino's Pizza Inc	DPZ US	10:00	Q3 2017 Earnings Call	Q3 17
Omnicom Group Inc	OMC US		Q3 2017 Earnings Release	Q3 17	1.092
HP Inc	HPQ US		Analyst Meeting
Nu Skin Enterprises Inc	NUS US	13:45	Investor Meeting