5 Large Caps for Momentum Investors

This morning I wanted to find 5 Large Cap stocks that would be of interest to Momentum Investors.  I used Barchart to sort the S&P 500 Large Cap Index stocks first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more,  Today's Watch List includes:

Hologic (HOLX), Abbvie (ABBV), Fiserv (FISV), Phillip Morris (PM) and Clorox (CLX)

Hologic (HOLX)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above  its 20, 50 and 100 day moving averages
• 15 new highs and up 8.66% in the last month
• Relative Strength Index 70.57%
• Technical support level at 42.15
• Recently traded at 42.41 with a 50 day moving average of 40.32

Abbvie (ABBV)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 8.27% in the last month
• Relative Strength Index 79.33%
• Technical support level at 65.45
• Recently traded at 65.95 with a 50 day moving average of 62.12

Fiserv (FISV)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 7.08% in the last month
• Relative Strength Index 74.14%
• Technical support level at 117.33
• Recently traded at 117.68 with a 50 day moving average of 110.89

Phillip Morris (PM)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 8.23% in the last month
• Relative Strength Index 80.15%
• Technical support level at 110.57
• Recently traded at 110.85 with a 50 day moving average of 100.40

Clorox (CLX)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter by signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 8.74% in the last month
• Relative Strength Index 80.36%
• Technical support level at 137.93
• Recently traded at 138.24 with a 50 day moving average of 127.07

MORNING CALL 5/31

MORNING CALL

Tuesday, May 31st, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.11%)are up +0.04% at a 1-1/4 month high on optimism that a strengthening U.S. economy could handle another 25 bp rate hike from the Fed. Fed Chair Yellen said Friday afternoon that an improving economy would probably warrant another rate increase "in the coming months." Strength in crude oil prices is lifting energy producers, while European stocks are down -0.33% as automakers declined after Volkswagen dropped over 3% when it reported an 86% plunge in quarterly profit due to its emissions-cheating scandal. European stocks were also undercut after an unexpected decline in German Apr retail sales. Asian stocks settled mostly higher: Japan +0.98%, Hong Kong +0.90%, China +3.34%, Taiwan unch, Australia -0.54%, Singapore -0.20%, South Korea +0.79%, India -0.22%. China's Shanghai Composite climbed to a 3-week high after Goldman Sachs said that it was likely that the stocks in the Shanghai Composite would be included in MSCI Inc.'s global benchmark indexes. Japan's Nikkei Stock Index rose to a 1-month high on optimism the Japanese government will delay an increase in the sales tax after senior officials from Prime Minister Abe's ruling party and its coalition partner said that Prime Minister Abe wants to put off a planned national sale tax increase for 2-1/2 years.

The dollar index (DXY00 -0.01%) is up +0.09%. EUR/USD (^EURUSD) is up +0.13%. USD/JPY (^USDJPY) is down -0.04%.

Jun T-note prices (ZNM16 -0.24%) are down -12.5 ticks.

German Apr retail sales unexpectedly fell -0.9% m/m, weaker than expectations of +0.9% m/m.

The Eurozone May CPI estimate fell -0.1% y/y, right on expectations. The May core CPI rose +0.8% y/y, right on expectations.

The Eurozone Apr unemployment rate was unch at 10.2%, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Apr personal spending (expected +0.7%, Mar +0.1%) and Apr personal income (expected +0.4%, Mar +0.4%), (2) Apr PCE deflator expected (+0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.8% y/y) and Apr core PCE deflator (expected +0.2% m/m and +1.6% y/y, Mar +0.2% m/m and +1.6% y/y), (3) S&P/CaseShiller composite-20 home price index (expected +0.7% m/m and +5.06% y/y, Feb +0.66% m/m and +5.38% y/y), (4) May Chicago PMI (expected +0.1 to 50.5, Apr -3.2 to 50.4), (5) May Conference Board U.S. consumer confidence (expected +2.1 to 96.3, Apr-1.9 to 94.2), (6) May Dallas Fed manufacturing activity (expected +5.9 to -8.0, Apr -13.9), (7) USDA weekly grain export inspections, and (8) USDA Weekly Crop Progress.

There are 3 of the Russell 1000 companies that report earnings today: Golar LNG (consensus -$0.42), Medtronic (1.26), Workday (-0.02).

U.S. IPO's scheduled to price today: Cancer Preventation Pharmaceuticals (CPP).

Equity conferences this week include: Deutsche Bank Global Financial Services Investor Conference on Tue-Wed, BMO Capital Markets Energy & Power Conference on Wed, D. A. Davidson & Co Technology Forum on Wed, Stifel Dental & Veterinary Conference on Wed, Bank of America Merrill Lynch Global Technology Conference on Wed-Thu, Cowen and Company Technology, Media & Telecom Conference on Wed-Thu, RBC Capital Markets Consumer & Retail Conference on Wed-Thu, Bernstein Strategic Decisions Conference on Wed-Fri, Credit Suisse Engineering & Construction Conference on Thu, Keefe, Bruyette & Woods Asset Management Conference on Thu, American Society of Clinical Oncology (ASCO) Meeting on Fri.

OVERNIGHT U.S. STOCK MOVERS

Celator Pharmaceuticals (CPXX +0.17%) soared over 70% in pre-market trading after it agreed to a $1.5 billion takeover offer from Jazz Pharmaceuticals.

Lockheed Martin (LMT -0.60%) was downgraded to 'Hold' from 'Buy' at Berenberg.

Marathon Oil (MRO -2.05%) was upgraded to 'Overweight' from 'Neutral' at Piper Jaffray.

Deere & Co. (DE +0.29%) was upgraded to 'Buy' from 'Neutral' at UBS with a 12-month price target of $94.

Micron (MU +3.01%) was upgraded to 'Outperform' from 'Neutral' at Robert Baird.

Dril-Quip (DRQ +1.12%) was upgraded to 'Buy' from 'Accumulate' at KLR Group with a price target of $70.

Signature Bank/New York (SBNY +0.85%) was downgraded to 'Neutral' from 'Overweight' at Piper Jaffray with a 12-month price target of $146.

TransDigm Group (TDG +0.47%) jumped 4% in after-hours trading after it was announced that it will replace Baxalta in the S&P 500 after the close of trading Thursday, June 2.

Brocade (BRCD +0.23%) rose 3% in after-hours trading after it was announced that it will replace MDC Holdings in the MidCap 400 after the close of trading on Tuesday, May 31.

The FDA approved Zinbryta, made by Biogen (BIIB +0.28%) and Abbvie (ABBV +1.31%) , for the treatment of adults with relapsing forms of multiple sclerosis.

Reuters reports that Williams Cos (WMB +3.22%) has informed Energy Transfer Equity ETE that it is open to considering a new offer that would replace the $6 billion portion of the deal with shares in the acquisition vehicle that Energy Transfer will create.

Osiris Therapeutics (OSIR +1.43%) slumped 10% in after-hours trading after it said a criminal probe against the company was started by the U.S. Attorney's Office for the Southern District of New York.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.11%) this morning up +0.75 of a point (+0.04%) at a 1-1/4 month high. Friday's closes: S&P 500 +0.43%, Dow Jones +0.25%, Nasdaq +0.55%. The S&P 500 Friday rallied to a 1-1/4 month high and closed higher on the upward revision to U.S. Q1 GDP to +0.8% from +0.5% and on optimism that the U.S. economy is strong enough to handle further Fed rate hikes. Stocks were undercut by the -1.1 point decline in final-May University of Michigan U.S. consumer sentiment index to 94.7, weaker than expectations of -0.4 to 95.4.

June 10-year T-note prices (ZNM16 -0.24%) this morning are down -12.5 ticks. Friday's closes: TYM6 -3.50, FVM6 -3.00. Jun T-notes on Friday closed lower on the upward revision to U.S. Q1 GDP to +0.8% from +0.5%, hawkish comments from Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate," and reduced safe-haven demand with the rally in stocks.

The dollar index (DXY00 -0.01%) this morning is up +0.085 (+0.09%). EUR/USD (^EURUSD) is up +0.0014 (+0.13%). USD/JPY (^USDJPY) is down-0.05 (-0.04%). Friday's closes: Dollar Index +0.353 (+0.37%), EUR/USD -0.0079 (-0.71%), USD/JPY +0.55 (+0.50%). The dollar index on Friday rallied to a 2-month high and closed higher on the upward revision in U.S. Q1 GDP to +0.8% from +0.5% and hawkish comments from Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." The dollar was also boosted by weakness in EUR/USD which tumbled to a 2-1/2 month low on divergent central bank policies with the Fed expected to further tighten monetary policy while the ECB maintains or even expands its monetary policy.

July WTI crude oil (CLN16 +0.47%) this morning is up +14 cents (+0.28%). July gasoline (RBN16 -0.90%) is down -0.0192 (-1.17%). Friday's closes: CLN6 -0.15 (-0.30%), RBN6 +0.0111 (+0.68%). July crude oil and gasoline prices on Friday settled mixed as July gasoline rebounded from a 1-week low. Crude oil prices were undercut by the rally in the dollar index to a 2-month high and by the restart of oil-sands facilities in Alberta as wildfire risks abated. Gasoline prices were boosted by signs of stronger demand as the AAA estimates that 38 million Americans will travel 50 miles or more this Memorial holiday weekend, up +2.2% y/y and the second-highest ever.

GLOBAL EVENT CALENDAR05/31/2016

US	0830 ET	Apr personal spending expected +0.7%, Mar +0.1%. Apr personal income expected +0.4%, Mar +0.4%.
	0830 ET	Apr PCE deflator expected +0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.8% y/y. Apr core PCE deflator expected +0.2% m/m and +1.6% y/y, Mar +0.2% m/m and +1.6% y/y.
	0900 ET	Mar S&P/CaseShiller composite-20 home price index expected +0.7% m/m and +5.06% y/y, Feb +0.66% m/m and +5.38% y/y.
	0945 ET	May Chicago PMI expected +0.1 to 50.5, Apr -3.2 to 50.4.
	1000 ET	May U.S. consumer confidence (Conference Board) expected +2.1 to 96.3, Apr -1.9 to 94.2.
	1030 ET	May Dallas Fed manufacturing activity expected +5.9 to -8.0, Apr -13.9.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Weekly Crop Progress.
JPN	0000 ET	Japan Apr vehicle production, Mar +1.2% y/y.
	0100 ET	Japan Apr housing starts expected +4.0% to 950,000 annualized, Mar +8.4% y/y to 993,000 annualized.
	0100 ET	Japan Apr construction orders, Mar +19.8% y/y.
	1950 ET	Japan Q1 capital spending expected +1.9% y/y, Q4 +8.5% y/y. Q1 capital spending ex software expected +4.1% y/y, Q4 +8.9% y/y.
	2200 ET	Revised Japan May Nikkei manufacturing PMI.
GER	0200 ET	German Apr retail sales expected +1.0% m/m and +1.9% y/y, Mar -1.4% m/m and +0.7% y/y.
	0355 ET	German May unemployment change expected -5,000, Apr -16,000. May unemployment rate, Apr 6.2%.
EUR	0400 ET	Eurozone Apr M3 money supply expected +5.0% y/y, Mar +5.0% y/y.
	0500 ET	Eurozone Apr unemployment rate expected unch at 10.2%, Mar -0.2 to 10.2%.
	0500 ET	Eurozone May CPI estimate expected -0.1% y/y, Apr -0.2% y/y. May core CPI expected +0.8% y/y, Apr +0.7% y/y.
UK	1901 ET	UK May BRC shop price index, Apr -1.7% y/y.
CHI	2100 ET	China May manufacturing PMI expected -0.1 to 50.0, Apr -0.1 to 50.1. May non-manufacturing PMI, Apr -0.3 to 53.5.
	2145 ET	China May Caixin manufacturing PMI expected -0.2 to 49.2, Apr -0.3 to 49.4.

U.S. STOCK CALENDAR05/31/2016

Company	Ticker	Time	Event Description	Period	Estimate
Golar LNG Ltd	GLNG US	Bef-mkt	Q1 2016 Earnings Release	Q1 2016	-0.424
Medtronic PLC	MDT US	6:45	Q4 2016 Earnings Release	Q4 2016	1.264
Medtronic PLC	MDT US	8:00	Q4 2016 Earnings Call	Q4 2016
Golar LNG Ltd	GLNG US	10:00	Q1 2016 Earnings Call	Q1 2016
Workday Inc	WDAY US	17:00	Q1 2017 Earnings Call	Q1 2017
Workday Inc	WDAY US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	-0.021
Henry Schein Inc	HSIC US		Annual General Meeting
Tesla Motors Inc	TSLA US		Annual General Meeting
Empire State Realty Trust Inc	ESRT US		Annual General Meeting

BARCHART MORNING CALL 5/18

BARCHART MORNING CALL

Monday, May 18th, 2015View Older Reports

Everything you need to know about the markets in one free daily newsletter.

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 -0.27%) this morning are down -0.13% as they consolidate modestly below Friday's new all-time high. European stocks are down -0.58% as no resolution is seen yet to the Greek debt crisis. The yield on the Greek 10-year bond climbed to a 2-week high of 11.40% on concern the ongoing impasse may prompt the ECB to increase the discount on the collateral Greek banks pledge in exchange for cash under its Emergency Liquidity Assistance program. That may fuel further outflow of bank deposits and force Greek Prime Minister Tsipras to choose between doing a deal with Greece's creditors or implement capital controls in an attempt to keep Greece's banks solvent. ECB Executive Board member Mersch said Saturday about Greece's debt crisis that "we are in an endgame" and that "this situation is not tenable." Stock losses were contained on increased M&A activity after Endo International Plc agreed to buy Par Pharmaceutical Holdings for $8.05 billion. Asian stocks closed mixed: Japan +0.80%, Hong Kong -0.83%, China -0.58%, Taiwan +0.28%, Australia -1.33%, Singapore -0.10%, South Korea +0.24%, India +1.33%. Japan's Nikkei Stock Index climbed to a 2-week high on improved company earnings prospects and share buybacks from Japanese companies.
Commodity prices are mixed. Jun crude oil (CLM15 +1.29%) is up +0.90% and Jun gasoline (RBM15 unch) is down -0.31%. Metals prices are higher. Jun gold (GCM15 +0.06%) is up +0.29% at a 3-month high after Chicago Fed President Evans said the Fed should hold interest rate at current levels until early 2016 because inflation is still too far below the Fed's target. Jul copper (HGN15 -0.32%) is down -0.31%.
The dollar index (DXY00 +0.50%) is up +0.43%. EUR/USD (^EURUSD) is down -0.30%. USD/JPY (^USDJPY)is up +0.34%.

Jun T-note prices (ZNM15 -0.10%) are down -6 ticks.
Chicago Fed President Evans, speaking at the Swedbank Global Seminar in Stockholm, said that the Fed is on a "meeting-by-meeting basis in decision making, at least in terms of the funds rate." He added "my own projection is that it will take quite some time" for inflation to meet target; that's why "I'm in favor of the current level accommodation to continue."

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) May NAHB housing market index (expected +1 to 57 after April's +3 to 56), and (2) comments by Chicago Fed President Charles Evans and ECB Executive Board member Yves Mersch about the economy and monetary policy at the Swedbank Global Seminar in Stockholm.
There are 3 of the Russell 100 companies report earnings today: Urban Outfitters (consensus $0.30), Agilent Technologies (0.39), WP Carey (1.00).
U.S. IPO's scheduled to price today include: Code Rebel (CDRB).
Equity conferences this week include: American Gas Association (AGA) Financial Forum on Mon, JPMorgan Global Technology, Media and Telecom Conference on Mon-Wed, UBS Global Health Care Conference on Mon-Wed, Electrical Products Group Spring Conference on Mon-Wed, EPG Conference on Mon-Wed, Asian Investment Summit on Tue, Nomura Gaming, Leisure and Lodging Conference on Tue, JPMorgan Chase Homebuilding and Building Products Conference on Tue, Goldman Sachs Basic Materials Conference on Tue-Wed, Barclays America Select Conference on Tue-Wed, Wolfe Research Global Transportation Conference on Tue-Wed, LME Week Asia 2015 on Wed, BMO Farm to Market Conference on Wed-Thu, Janney Montgomery Scott - Company Marketing : Biotechnology - Southeast on Fri.

OVERNIGHT U.S. STOCK MOVERS

Chevron (CVX -0.39%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.
Chicago Bridge & Iron (CBI +8.01%) was upgraded to 'Neutral' from 'Sell' at Goldman Sachs.
Targa Resources Partners (NGLS +0.85%) was downgraded to 'Sell' from 'Buy' at Goldman Sachs.
Holly Energy (HEP +1.91%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
Kansas City Southern (KSU +0.40%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Owens-Illinois ({=OI was upgraded to 'Neutral' from 'Underperform' at BofA/Merrill Lynch.
Chesapeake (CHK -0.60%) and Hess Corp (HES +0.36%) were both downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Endo International Plc (ENDP +0.39%) will acquire Par Pharmaceutical Holdings for $8.05 billion.
Alibaba (BABA +0.07%) reported a 17.2% passive stake in zulily (ZU +1.73%) .
AbbVie (ABBV +0.03%) announced that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of Pharmacyclics (PCYC -0.20%) to 5 p.m. EST on May 22.
Berkshire Hathaway gave a quarterly update where they said they increased stakes in International Business Machines (IBM -0.45%) , Precision Castparts (PCP +3.80%) , Wells Fargo (WFC -0.93%) , Phillips 66 (PSX -0.71%) , and US Bancorp (USB -1.01%) . Berkshire said they decreased stakes in National Oilwell Varco (NOV +0.10%) , Viacom (VIAB +0.72%) , Bank of New York Mellon (BK -0.65%) , MasterCard (MA -0.66%) , and Visa (V -0.61%) .
Icahn Associates gave a quarterly update where they said they increased stakes in Manitowoc (MTW -0.41%) , Voltari (VLTC -4.54%) , Federal-Mogul Holdings (FDML +0.08%) , and Chesapeake Energy (CHK -0.60%) .

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.27%) this morning are down -2.75 points (-0.13%). Friday's closes: S&P 500 +0.08%, Dow Jones +0.11%, Nasdaq -0.02%. The S&P 500 on Friday posted a 2-1/2 week high and closed slightly higher on ideas that Friday's weak economic data will delay a Fed interest rate hike. Weak economic data included the -0.3% drop in U.S. Apr industrial production (weaker than expectations of unch and the fifth straight monthly decline), and the -7.3 point decline in the U.S. May University of Michigan consumer sentiment index to a 7-month low of 88.6 (weaker than expectations of unchanged at 95.9).
Jun 10-year T-notes (ZNM15 -0.10%) this morning are down -6 ticks. Friday's closes: TYM5 +20.50, FVM5 +7.00. Jun 10-year T-notes on Friday closed higher on Friday's weak economic data, which will help to delay a Fed rate hike. T-note prices also received support as the 10-year T-note breakeven inflation expectations rate dropped to a 1-month low.
The dollar index (DXY00 +0.50%) this morning is up +0.401 (+0.43%). EUR/USD (^EURUSD) is down -0.0034 (-0.30%). USD/JPY (^USDJPY) is up +).41 (+0.34%). Friday's closes: Dollar Index -0.322 (-0.34%), EUR/USD +0.00364 (+0.32%), USD/JPY +0.111 (+0.09%). The dollar index Friday closed lower on the weak U.S. economic data that may delay a Fed rate hike.
Jun WTI crude oil (CLM15 +1.29%) this morning is up +54 cents (+0.90%) and Jun gasoline (RBM15 unch) is down 09.0063 (-0.31%). Friday's closes: CLM5 -0.19 (-0.32%), RBM5 -0.0030 (-0.15%). Jun crude oil and gasoline on Friday closed lower on the weaker-than-expected U.S. economic data and on expectations that the global oil supply glut will persist.

GLOBAL EVENT CALENDAR05/18/2015

US	0200 ET	Chicago Fed President Charles Evans and ECB Executive Board member Yves Mersch speak about the economy and monetary policy at the Swedbank Global Seminar in Stockholm.
	1000 ET	May NAHB housing market index expected +1 to 57, Apr +3 to 56.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA weekly crop progress.
JPN	0030 ET	Japan Mar tertiary index expected -0.5% m/m, Feb +0.3% m/m.
	0030 ET	Japan Mar capacity utilization, Feb -3.2% m/m.
	0030 ET	Revised Japan Mar industrial production, previous -0.3% m/m and -1.2% y/y.

U.S. STOCK CALENDAR05/18/2015

Company	Ticker	Time	Event Description	Period	Estimate
WP Carey Inc	WPC US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	1
Visteon Corp	VC US	10:00	Extraordinary Shareholders Meeting	Y 2015
WP Carey Inc	WPC US	11:00	Q1 2015 Earnings Call	Q1 2015
Omnicom Group Inc	OMC US	12:00	Annual General Meeting	Y 2015
Baxter International Inc	BAX US	12:30	Investor Conference - Day 1	Y 2015
PacWest Bancorp	PACW US	13:30	Annual General Meeting	Y 2015
Urban Outfitters Inc	URBN US	16:00	Q1 2016 Earnings Release	Q1 2016	0.302
Agilent Technologies Inc	A US	16:05	Q2 2015 Earnings Release	Q2 2015	0.386
Agilent Technologies Inc	A US	16:30	Q2 2015 Earnings Call	Q2 2015
Urban Outfitters Inc	URBN US	17:00	Q1 2016 Earnings Call	Q1 2016
Consolidated Edison Inc	ED US		Annual General Meeting
Equifax Inc	EFX US		Investor Meeting - Stockholm	Y 2015
Johnson & Johnson	JNJ US		PDUFA, Invega Sustenna, three-month formulation in schizophrenia
Motorola Solutions Inc	MSI US		Annual General Meeting
Targa Resources Corp	TRGP US		Annual General Meeting

5 Large Caps Break Out Stocks

Today I wanted to find some large cap stocks that were breaking out of their trading patterns.  I used Barchart to sort the S&P 500 Large Cap Stock Index for the stocks having the most frequent advances in the last month then used the Flipchart feature to review the charts.

Today's list includes Affiliated Managers Group (AMG), EOG Resources (EOG), Abbvie (ABBV), Invesco (INV) and Lyondellbasel Industries (LYB).

Affiliated Managers Group (AMG)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 5.58% in the last month
• Relative Strength Index 65.80
• Barchart computes a technical support level at 223.72
• Recently traded at 226.45 with a 50 day moving average of 217.38

EOG Resources (EOG)

Barchart technical indicators:

• 88% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 8.4% in the last month
• Relative Strength Index 61.54%
• Barchart computes a technical support level at 95.78
• Recently traded at 98.90 with a 50 day moving average of 92.61

Abbvie (ABBV)

Barchart technical indicators:

• 40% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and 14.82% in the last month
• Relative Strength Index 62.48%
• Barchart computes a technical support level at 62.95
• Recently traded at 65.40 with a 50 day moving average of 60.5

Invesco (IVZ)

Barcart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 4.60% in the last month
• Relative Strength Index 62.00%
• Barchart computes a technical support level at 41.02
• Recently traded at 41.61 with a 50 day moving average of 40.42

Lyondellbasel Industries (LYB)

Barchart Technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 17.91% in the last month
• Relative Strength Index 78.47%
• Barchart computes a technical support level at 102.17
• Recently traded at 104.50 with a 50 day moving average of 90.89

BARCHART MORNING CALL 1/30

BARCHART MORNING CALL

Friday, January 30th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH15 -0.69%) this morning are down -0.63% and European stocks are down -0.10% on Eurozone deflation concerns after Jan Eurozone consumer prices fell a more-than-expected -0.6% y/y and matched the largest decline since the euro currency was introduced in 1999. Losses in European stocks were limited after the Eurozone Dec unemployment rate unexpectedly declined to the lowest in 28 months. The Russian ruble tumbled to a 1-1/2 month low against the dollar after Russia's central bank cut the 1-week auction rate to 15% from 17%. Credit-default swaps on Russia's government debt rose 3 bp to 617 bp, the highest since March 2009. Asian stocks closed mixed: Japan +0.39%, Hong Kong -0.36%, China -1.36%, Taiwan -0.69%, Australia +0.34%, Singapore -0.81%, South Korea -0.23%, India -1.68%. China's Shanghai Stock Index fell to a 1-1/2 week low as government regulators begin efforts to cool the growth of margin trading. Commodity prices are mostly higher. Mar crude oil (CLH15 +0.97%) is up +1.32%. Mar gasoline (RBH15 +0.34%) is up +0.30%. Feb gold (GCG15 +0.66%) is up +0.71%. Mar copper (HGH15 +1.16%) is up +1.04%. Agriculture prices are higher. The dollar index (DXY00 -0.26%) is down -0.35%. EUR/USD (^EURUSD) is up +0.23%. USD/JPY (^USDJPY) is down -0.52%. Mar T-note prices (ZNH15 +0.23%) are up +9.5 ticks.
The Eurozone Jan CPI estimate fell -0.6% y/y, a bigger decline than expectations of -0.5% y/y and matched the July 2009 decrease as the biggest drop since the euro currency was introduced in 1999. The Jan core CPI rose +0.6% y/y, less than expectations of +0.7% y/y and the slowest pace of increase since the data series began in 1997.
The Eurozone Dec unemployment rate unexpectedly fell -0.1 to 11.4%, better than expectations of unch at 11.5% and the lowest in 28 months.
German Dec retail sales rose +0.2% m/m, less than expectations of +0.3% m/m, but on an annual basis rose +4.0% y/y, more than expectations of +3.6% y/y and the largest annual increase in 2-1/2 years.
UK Dec net consumer credit rose +0.6 billion pounds, less than expectations of +1.2 billion pounds and the slowest pace of increase in 13 months.
UK Dec mortgage approvals rose 60,300, more than expectations of 59,000.
The Japan Dec jobless rate unexpectedly fell -0.1 to 3.4%, better than expectations of unch at 3.5% and the lowest in 17-1/2 years. The Dec job-to-applicant ratio rose +0.03 to 1.15, better than expectations of unch at 1.12 and the highest in 22-3/4 years.
Japan Dec national CPI rose +2.4% y/y, unch from Nov and higher than expectations of -0.1 to 2.3% y/y. Dec national CPI ex-fresh food rose 2.5% y/y, down -0.2 from Nov and the slowest pace of increase in 9 months. Dec national CPI ex food & energy climbed +2.1% y/y, unch from Nov and right on expectations.
Japan Dec industrial production rose +1.0% m/m, less than expectations of +1.2% m/m, although year-over-year Dec industrial production rose +0.3% y/y, right on expectations.

U.S. STOCK PREVIEW

Today’s Q4 GDP report is expected to ease to +3.1% (q/q annualized) from +5.0% in Q3. Today’s final-Jan U.S. consumer confidence index from the University of Michigan is expected to be unrevised from the early-Jan figure of 98.2, thus leaving the final-Jan figure of 98.2 up by +4.6 points from December’s level. Today’s Q4 employment cost index is expected to show an increase of +0.6% q/q, which would be slightly below the +0.7% increase seen in Q3. Today’s Jan Chicago PMI report is expected to show a -1.3 point decline to 57.5, adding to the -1.9 point decline to 58.8 seen in Dec.
There are 18 of the S&P 500 companies that report earnings today with notable reports including: MasterCard (consensus $0.67), Chevron (1.64), Tyson Foods (0.73), AbbVie (0.86), Weyerhaeuser (0.29), Eli Lilly (0.73), Ingersoll-Rand (0.70). There are no equity conferences today.

OVERNIGHT U.S. STOCK MOVERS

Weyerhaeuser (WY -0.45%) reported Q4 EPS of 27 cents, below consensus of 29 cents.
Mattel (MAT -0.33%) reported Q4 EPS of 52 cents, well below consensus of 91 cents.
Eli Lilli (LLY +1.61%) reported Q4 EPS of 75 cents, better than consensus of 73 cents.
Eastman Chemical (EMN -0.01%) reported Q4 adjusted EPS of $1.64, higher than consensus of $1.52.
Unisys (UIS -1.21%) reported Q4 EPS of $1.60, well above consensus of $1.27.
Leggett & Platt (LEG +1.30%) reported Q4 adjusted EPS of 41 cents, less than consensus of 45 cents, and then lowered guidance on fiscal 2015 EPS to $1.90-$2.10, below consensus of $2.10.
Acuity Brands (AYI +0.16%) coverage resumed with a 'Buy' at Stifel witha price target of $185.
C.R. Bard (BCR +1.02%) reported Q4 adjusted EPS of $2.29, higher than consensus of $2.24.
JDSU (JDSU -2.43%) fell 5% in after-hours trading after it reported Q2 EPS of 15 cents, below consensus of 16 cents.
Hanesbrands (HBI +1.44%) reported Q4 adjusted EPS of $1.46, more than consensus of $1.43.
Biogen (BIIB +0.59%) reported Q4 EPS of $4.09, above consensus of $3.78, and then raised guidance on fiscal 2015 EPS to $16.60-$17.00, better than consensus of $16.37.
Broadcom (BRCM +0.83%) rose 3% in after-hours trading after it reported Q4 adjusted EPS ex-SBC of 90 cents, higher than consensus of 87 cents.
Visa (V +0.67%) climbed over 3% in after-hours trading after it reported Q1 EPS of $2.53, better than consensus of $2.49, and then announced a four-for-one stock split.
Principal Financial (PFG +0.29%) reported Q4 EPS of $1.09, higher than consensus of $1.04.
Manitowoc (MTW +0.89%) reported Q4 adjusted EPS of 27 cents, below consensus of 32 cents.
Google (GOOG +0.13%) reported Q4 EPS of $6.88, weaker than consensus of $7.11.
Amazon.com (AMZN +2.59%) jumped 11% in after-hours trading after it reported Q4 EPS of 45 cents, well above consensus of 17 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH15 -0.69%) this morning are down -12.75 points (-0.63%). The S&P 500 index on Thursday rebounded from a 1-1/2 week low and closed higher: S&P 500 -1.35%, Dow Jones -1.13%, Nasdaq -0.60%. Bullish factors included (1) the -43,000 decline in U.S. weekly initial unemployment claims to 265,000, more than expectations of -7,000 to 300,000 and the lowest level in 14-3/4 years, and (2) strength in energy producers which recovered from early losses after crude oil rebounded from a 5-3/4 year low and closed higher. A bearish factor was the unexpected -3.7% m/m decline in U.S. Dec pending home sales, weaker than expectations of a +0.5% m/m increase and the biggest decline in a year.
Mar 10-year T-notes (ZNH15 +0.23%) this morning are up +9.5 ticks. Mar 10-year T-note futures prices on Thursday closed lower. Closes: TYH5 -9.00, FVH5 -4.75. Bearish factors included (1) the larger-than-expected decline in U.S. weekly jobless claims to the lowest level in 14-3/4 years, and (2) reduced safe-haven demand for T-notes after stocks rallied.
The dollar index (DXY00 -0.26%) this morning is down -0.328 (-0.35%). EUR/USD (^EURUSD) is up +0.0026 (+0.23%). USD/JPY (^USDJPY) is down -0.62 (-0.52%). The dollar index on Thursday closed higher: Dollar index +0.315 (+0.33%), EUR/USD +0.00324 (-0.29%), USD/JPY -0.3458 (-0.29%). Bullish factors included (1) the larger-than-expected fall in U.S. weekly jobless claims to the lowest level in 14-3/4 years, which signals labor market strength and bolsters speculation the Fed will soon raise interest rates, and (2) the increase in Eurozone Jan economic confidence to a 6-month high, which was supportive for EUR/USD.
Mar WTI crude oil (CLH15 +0.97%) this morning is up +59 cents (+1.32%) and Mar gasoline (RBH15 +0.34%) is up +0.0042 (+0.30%). Mar crude oil and Mar gasoline on Thursday recovered from early losses and closed higher: CLH5 +0.08 (+0.18%), RBH5 +0.0143 (+1.04%). Mar crude posted a 5-3/4 year low on carry-over weakness from Wednesday’s EIA report where U.S. crude inventories climbed to a record high 406.7 million bbl and U.S. crude production rose to 9.213 million bpd, the highest in over 40 years. However, fund short covering near the lows helped crude oil erase its losses and close higher.

GLOBAL EVENT CALENDAR01/30/2015

US	0830 ET	Q4 GDP expected +3.1% q/q annualized, Q3 +5.0%. Q4 personal consumption expected +4.0%, Q3 +3.2%. Q2 GDP price index expected +0.9%, Q3 +1.4%. Q4 GDP core PCE expected +1.1% q/q, Q3 +1.4% q/q.
	0830 ET	Q4 employment cost index expected +0.6%, Q3 +0.7%.
	0900 ET	Jan Milwaukee ISM expected +0.39 to 58.00, Dec -11.32 to 57.61.
	0945 ET	Jan Chicago PMI expected -1.3 to 57.5, Dec -1.9 to 58.8.
	0955 ET	Final-Jan U.S. consumer confidence index (University of Michigan) expected unch at 98.2, prelim-Jan +4.6 to 98.2.
JPN	0000 ET	Japan Dec annualize housing starts expected -14.8% y/y to 900,000, Nov -14.3% y/y to 888,000.
	0100 ET	Japan Dec construction orders, Nov +16.9% y/y
GER	0200 ET	German Dec retail sales expected +0.3% m/m and +3.6% y/y, Nov +0.5% m/m and -0.8% y/y.
UK	0430 ET	UK Dec net consumer credit expected +1.2 billion pounds, Nov +1.3 billion pounds.
	0430 ET	UK Dec mortgage approvals expected 59,000, Nov 59,000.
	0430 ET	UK Dec M4 money supply, Nov unch m/m and -2.8% y/y.
EUR	0500 ET	Eurozone Jan CPI estimate expected -0.5% y/y, Dec -0.2% y/y. Jan CPI core expected +0.7% y/y, Dec +0.7% y/y.
	0500 ET	Eurozone Dec unemployment rate expected unch at +11.5%.

U.S. STOCK CALENDAR01/30/2015

Company	Ticker	Time	Event Description	Period	Estimate
Newell Rubbermaid Inc	NWL US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.481
AbbVie Inc	ABBV US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.856
Chevron Corp	CVX US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	1.643
Tyco International Plc	TYC US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.491
MasterCard Inc	MA US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.674
Weyerhaeuser Co	WY US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.287
PACCAR Inc	PCAR US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	1.095
Simon Property Group Inc	SPG US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	2.465
Eli Lilly & Co	LLY US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.732
Mattel Inc	MAT US	6:00	Q4 2014 Earnings Release	Q4 2014	0.913
CONSOL Energy Inc	CNX US	6:45	Q4 2014 Earnings Release	Q4 2014	0.202
Altria Group Inc	MO US	7:00	Q4 2014 Earnings Release	Q4 2014	0.664
Ingersoll-Rand PLC	IR US	7:00	Q4 2014 Earnings Release	Q4 2014	0.698
Xerox Corp	XRX US	7:15	Q4 2014 Earnings Release	Q4 2014	0.288
Tyson Foods Inc	TSN US	7:30	Q1 2015 Earnings Release	Q1 2015	0.727
Tyco International Plc	TYC US	8:00	Q1 2015 Earnings Call	Q1 2015
Legg Mason Inc	LM US	8:00	Q3 2015 Earnings Release	Q3 2015	0.663
Legg Mason Inc	LM US	8:00	Q3 2015 Earnings Call	Q3 2015
Eastman Chemical Co	EMN US	8:00	Q4 2014 Earnings Call	Q4 2014
Newell Rubbermaid Inc	NWL US	8:30	Q4 2014 Earnings Call	Q4 2014
Franklin Resources Inc	BEN US	8:30	Q1 2015 Earnings Release	Q1 2015	0.934
Franklin Resources Inc	BEN US	8:30	Q1 2015 Earnings Call - Pre Recorded	C1 2015
Mattel Inc	MAT US	8:30	Q4 2014 Earnings Call	Q4 2014
Altria Group Inc	MO US	9:00	Q4 2014 Earnings Call	Q4 2014
AbbVie Inc	ABBV US	9:00	Q4 2014 Earnings Call	Q4 2014
Boston Properties Inc	BXP US	9:00	Q4 2014 Earnings Call	Q4 2014
MasterCard Inc	MA US	9:00	Q4 2014 Earnings Call	Q4 2014
Tyson Foods Inc	TSN US	9:00	Q1 2015 Earnings Call	Q1 2015
Leggett & Platt Inc	LEG US	9:00	Q4 2014 Earnings Call	Q4 2014
Eli Lilly & Co	LLY US	9:00	Q4 2014 Earnings Call	Q4 2014
CONSOL Energy Inc	CNX US	10:00	Q4 2014 Earnings Call	Q4 2014
Weyerhaeuser Co	WY US	10:00	Q4 2014 Earnings Call	Q4 2014
Xerox Corp	XRX US	10:00	Q4 2014 Earnings Call	Q4 2014
Principal Financial Group Inc	PFG US	10:00	Q4 2014 Earnings Call	Q4 2014
Ingersoll-Rand PLC	IR US	10:00	Q4 2014 Earnings Call	Q4 2014
Chevron Corp	CVX US	11:00	Q4 2014 Earnings Call	Q4 2014
Franklin Resources Inc	BEN US	11:00	Q1 2015 Earnings Call	Q1 2015
Tyson Foods Inc	TSN US	11:00	Annual General Meeting	Y 2015
Simon Property Group Inc	SPG US	11:00	Q4 2014 Earnings Call	Q4 2014
PACCAR Inc	PCAR US	12:00	Q4 2014 Earnings Call	Q4 2014
Monsanto Co	MON US	14:30	Annual General Meeting	Y 2015
Computer Sciences Corp	CSC US		Q3 2015 Earnings Release	Q3 2015	1.115

BARCHART MORNING CALL 10/31

BARCHART MORNING CALL

Friday, October 31st, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ14 +1.07%) this morning are up +1.16% at a contract high and European stocks are up +1.96% as global stocks rallied sharply after the BOJ unexpectedly expanded stimulus. The BOJ said it will increase holdings of government bonds to 80 trillion yen ($724 billion) from as much as 70 trillion yen and will boost exchange-traded fund purchases to 3 trillion yen. Asian stocks closed higher: Japan +4.83%, Hong Kong +1.25%, China +1.60%, Taiwan +0.98%, Australia +0.92%, Singapore +1.23%, South Korea +0.65%, India +1.90%. Japan's Nikkei Stock Index soared to a 7-year high and China's Shanghai Stock Index climbed to a 1-1/2 year high on the unexpected action by the BOJ to raise stimulus. Japanese stocks also received a boost after Japan's Government Pension Investment Fund, the world's biggest pension fund, said it will raise its allocation target for Japanese and overseas equities to 25% from 12%. In an attempt to stop the slide in the ruble, the Bank of Russia raised its key interest rate to 9.5% from 8.0%. Commodity prices are mostly lower as the dollar surged after the BOJ's action to expand stimulus. Dec crude oil (CLZ14 -0.83%) is down -0.86%. Dec gasoline (RBZ14 -1.07%) is down -1.05%. Dec gold (GCZ14 -2.12%) is down -2.18% at a 4-1/4 year low. Dec copper (HGZ14 +0.65%) is up +0.60%. Agriculture prices are mixed. The dollar index (DXY00 +0.46%) is up +0.53% at a 4-week high. EUR/USD (^EURUSD) is down -0.29% at a 3-week low after Eurozone Oct core CPI rose at the slowest pace of increase on record. USD/JPY (^USDJPY) is up +2.30% at a 6-3/4 year high as the yen plunged following the increase in quantitative easing by the BOJ. Dec T-note prices (ZNZ14 -0.21%) are down -5.5 ticks.
The BOJ unexpectedly expanded its stimulus measures by raising the target for enlarging the monetary base to 80 trillion yen ($724 billion), up from 60 to 70 trillion yen. The BOJ also lowered its estimate for the core consumer price index to +1.7% for the fiscal year through Mar 2016, down from a previous estimate of +1.9%.
The Eurozone Oct CPI estimate rose +0.4% y/y, right on expectations. The Oct core CPI rose +0.7% y/y, less than expectations of +0.8% y/y and matched the smallest pace of increase since the data series began in 1997.
The Eurozone Sep unemployment rate remained unchanged at 11.5% y/y, right on expectations.
German Sep retail sales tumbled -3.2% m/m, a bigger decrease than expectations of -0.9% m/m and the largest monthly decline in 7-1/3 years. On an annual basis, Sep retail sales rose +2.3% y/y, more than expectations of +1.2% y/y.
Japan Sep national CPI rose +3.2% y/y less than expectations of +3.3% y/y and the slowest pace of increase in 6 months. Sep national CPI ex-fresh food rose +3.0% y/y, right on expectations, and Sep national CPI ex food & energy rose +2.3% y/y, a faster pace of increase than expectations of +2.2% y/y.
The Japan Sep jobless rate rose +0.1 to 3.6%, right on expectations. The Sep job-to-applicant ratio fell -0.01 to 1.09, slightly weaker than expectations of unch at 1.10.
Japan Sep overall household spending dropped -5.6% y/y, a bigger decline than expectations of -4.3% y/y and the sixth consecutive month that spending has fallen.

U.S. STOCK PREVIEW

Today’s final-Oct U.S. consumer confidence index from the University of Michigan is expected to be unchanged from early-Oct at 86.4, thus leaving the index up by +1.8 points from Sep. Today’s Sep PCE deflator is expected to be unchanged from Aug at +1.5% y/y and for the Sep core PCE deflator to also be unchanged from Aug at +1.5% y/y. Today’s Oct Chicago PMI report is expected to fall -0.5 points to 60.0, adding to the -3.8 decline to 60.5 seen in September.
There are 14 of the S&P 500 companies that report earnings today with notable reports including: Berkshire Hathaway (consensus $2,592), Exxon (1.71), Chevron (2.52), AbbVie (0.77), Newell Rubbermaid (0.555), Weyerhaeuser (0.30), Aon (1.12). There are no equity conferences today.

OVERNIGHT U.S. STOCK MOVERS

Wyerhaeuser (WY +1.39%) reported Q3 EPS of 33 cents, higher than consensus of 30 cents.
Citigroup (C +0.95%) fell 1% in after-hours trading after it lowered its Q3 results due to a $600 million increase in legal accruals.
Mohawk (MHK +0.80%) reported Q3 EPS ex-items of $2.44, better than consensus of $2.42.
Fluor (FLR +1.36%) reported Q3 EPS of $1.15, higher than consensus of $1.10.
Live Nation (LYV +0.44%) reported Q3 EPS of 49 cents, stronger than consensus of 38 cents.
Standard Pacific (SPF +0.25%) reported Q3 EPS of 14 cents, less than consensus of 15 cents.
Mylan (MYL +2.99%) reported Q3 EPS of $1.16, better than consensus of $1.14, and then raised guidance on fiscal 2014 EPS view to $3.54-$3.60, above consensus of $3.49.
Groupon (GRPN +3.45%) reported Q3 EPS of 3 cents, triple consensus of 1 cent, but then lowered guidance on Q4 Q4 EPS ex-items to 2 cents-4 cents, below consensus of 7 cents.
Expedia (EXPE +1.50%) reported Q3 adjusted EPS of $1.93, higher than consensus of $1.74.
Western Union (WU +1.64%) reported Q3 EPS of 44 cents, stronger than consensus of 38 cents.
Crown Castle (CCI +0.90%) reported Q3 FFO of $1.05, better than consensus of $1.01.
Starbucks (SBUX +1.02%) fell over 3% in after-hours trading after it reported Q4 adjusted EPS of 74 cents, right on consensus, although Q4 revenue of $4.20 billion was slightly less than consensus of $4.23. Starbucks then lowered guiidance on fiscal 2015 EPS to $3.08-$3.13, below consensus of $3.16.
LinkedIn (LNKD +1.70%) climbed more than 4% in pre-market trading after it reported Q3 EPS of 52 cents, stronger than consensus of 47 cents, and then raised guidance on fiscal 2014 EPS to $1.89, higher than consensus of $1.87.
Columbia Sportswear (COLM +0.16%) reported Q3 EPS of 93 cents, better than consensus of 87 cents, and then raised guidance on fiscal 2014 EPS to $1.80, higher than consensus of $1.76.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 +1.07%) this morning are up sharply by +23.00 points (+1.16%) at a fresh contract high. The S&P 500 index on Thursday climbed to a 1-month high and closed higher: S&P 500 +0.62%, Dow Jones +1.30%, Nasdaq +0.25%. Bullish factors included (1) U.S. Q3 GDP that grew at a +3.5% q/q annualized pace, stronger than expectations of +3.0% q/q annualized, (2) strong Q3 stock earnings results with about 80% of reporting S&P 500 companies having beaten earnings estimates, and (3) reduced European recession concerns after Eurozone Oct economic confidence unexpectedly rose +0.8 to 100.7, better than expectations of -0.2 to 99.7.
Dec 10-year T-notes (ZNZ14 -0.21%) this morning are down -5.5 ticks. Dec 10-year T-note futures prices on Thursday closed higher: TYZ4 +5.50, FVZ4 +4.75. Supportive factors included (1) slack price pressures after the U.S. Q3 core PCE deflator increased at a +1.4% q/q pace, well below the Fed's 2.0% target, which fueled curve flattening trades where investors sell short-term Treasuries (i.e., 2-year and 5-year T-notes) and buy longer-term Treasuries ((i.e., 10-year T-notes and 30-year T-bonds), and (2) carry-over support from a rally n German bunds on speculation the ECB may expand stimulus measures after German Oct CPI rose less than expected.
The dollar index (DXY00 +0.46%) this morning is up +0.458 (+0.53%) at a 4-week high. EUR/USD (^EURUSD) is down -0.0036 (-0.29%) at a 3-week low. USD/JPY (^USDJPY) is up +2.51 (+2.30%) at a 6-3/4 year high. The dollar index on Thursday posted a 3-week high and closed higher. Closes: Dollar index +0.195 (+0.23%), EUR/USD -0.00189 (-0.15%), USD/JPY +0.325 (+0.30%). Bullish factors included (1) signs of U.S. economic strength after U.S. Q3 GDP expanded at a stronger-than-expected +3.5% q/q annualized pace, and (2) weakness in EUR/USD which fell to a 3-week low on speculation the ECB may expand stimulus after German Oct CPI fell -0.3% m/m, more than expectations of -0.1% m/m and the largest decline in 5 months.
Dec WTI crude oil (CLZ14 -0.83%) this morning is down -0.70 cents (-0.86%) and Dec gasoline (RBZ14 -1.07%) is down -0.0227 (-1.05%). Dec crude and Dec gasoline on Thursday closed lower. Closes: CLZ4 -1.15 (-1.40%), RBZ4 -0.0239 (-1.10%). Bearish factors included (1) Wednesday's action by the Fed to end QE3 along with the hawkish post-FOMC statement that boosted the dollar index to a 3-week high, and (2) carry-over bearishness from Wednesday's weekly EIA data that showed U.S. crude production rose to 8.97 million bpd, a 40-year high.

GLOBAL EVENT CALENDAR10/31/2014

US	0830 ET	Sep personal spending expected +0.1%, Aug +0.5%. Sep personal income expected +0.3%, Aug +0.3%.
	0830 ET	Sep PCE deflator expected +0.1% m/m and +1.5% y/y, Aug unch m/m and +1.5% y/y. Sep core PCE deflator expected +0.1% m/m and +1.5% y/y, Aug +0.1% m/m and +1.5% y/y.
	0830 ET	Q3 employment cost index expected +0.5%, Q2 +0.7%.
	0900 ET	Oct Milwaukee PMI expected -3.18 to 60.00, Sep +3.55 to 63.18.
	0945 ET	Oct Chicago PMI expected -0.5 to 60.0, Sep -3.8 to 60.5.
	0955 ET	Final-Oct U.S. consumer confidence (University of Michigan) expected unch at 86.4, prelim-Oct +1.8 to 86.4.
JPN	0100 ET	Japan Sep housing starts expected -17.2% y/y to 848,000, Aug -12.5% y/y to 845,000.
	n/a	BOJ announces interest rate decision.
GER	0300 ET	German Sep retail sales expected -0.9% m/m and +1.2% y/y, Aug +1.5% m/m and +0.1% y/y
EUR	0600 ET	Eurozone Oct CPI estimate expected +0.4% y/y, Sep +0.3% y/y. Oct core CPI expected +0.8% y/y, Sep +0.8% y/y.
	0600 ET	Eurozone Sep unemployment rate expected unch at 11.5%.
CHI	2100 ET	China Oct manufacturing PMI (National Bureau of Statistics) expected +0.1 to 51.2, Sep unch at 51.1.

U.S. STOCK CALENDAR10/31/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
Newell Rubbermaid Inc	NWL US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	0.551
Pinnacle West Capital Corp	PNW US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	2.134
AbbVie Inc	ABBV US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	0.773
Clorox Co/The	CLX US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	1.029
TECO Energy Inc	TE US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	0.326
Dominion Resources Inc/VA	D US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	0.949
Weyerhaeuser Co	WY US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	0.299
Aon PLC	AON US	6:30	Q3 2014 Earnings Release	Q3 2014	1.122
Legg Mason Inc	LM US	7:00	Q2 2015 Earnings Release	Q2 2015	0.005
Rockwell Collins Inc	COL US	7:30	Q4 2014 Earnings Release	Q4 2014	1.268
NextEra Energy Inc	NEE US	7:30	Q3 2014 Earnings Release	Q3 2014	1.538
Exxon Mobil Corp	XOM US	8:00	Q3 2014 Earnings Release	Q3 2014	1.708
Legg Mason Inc	LM US	8:00	Q2 2015 Earnings Call	Q2 2015
Eastman Chemical Co	EMN US	8:00	Q3 2014 Earnings Call	Q3 2014
Aon PLC	AON US	8:30	Q3 2014 Earnings Call	Q3 2014
Chevron Corp	CVX US	8:30	Q3 2014 Earnings Release	Q3 2014	2.519
Tesoro Corp	TSO US	8:30	Q3 2014 Earnings Call	Q3 2014
Newell Rubbermaid Inc	NWL US	9:00	Q3 2014 Earnings Call	Q3 2014
AbbVie Inc	ABBV US	9:00	Q3 2014 Earnings Call	Q3 2014
Rockwell Collins Inc	COL US	9:00	Q4 2014 Earnings Call	Q4 2014
TECO Energy Inc	TE US	9:00	Q3 2014 Earnings Call	Q3 2014
NextEra Energy Inc	NEE US	9:00	Q3 2014 Earnings Call	Q3 2014
Exxon Mobil Corp	XOM US	9:30	Q3 2014 Earnings Call	Q3 2014
Newmont Mining Corp	NEM US	10:00	Q3 2014 Earnings Call	Q3 2014
Dominion Resources Inc/VA	D US	10:00	Q3 2014 Earnings Call	Q3 2014
Weyerhaeuser Co	WY US	10:00	Q3 2014 Earnings Call	Q3 2014
Crown Castle International Corp	CCI US	10:30	Q3 2014 Earnings Call	Q3 2014
Mohawk Industries Inc	MHK US	11:00	Q3 2014 Earnings Call	Q3 2014
Chevron Corp	CVX US	11:00	Q3 2014 Earnings Call	Q3 2014
Pinnacle West Capital Corp	PNW US	12:00	Q3 2014 Earnings Call	Q3 2014
Public Storage	PSA US	13:00	Q3 2014 Earnings Call	Q3 2014
Apartment Investment & Management Co	AIV US	13:00	Q3 2014 Earnings Call	Q3 2014
Clorox Co/The	CLX US	13:30	Q1 2015 Earnings Call	Q1 2015
Essex Property Trust Inc	ESS US	14:00	Q3 2014 Earnings Call	Q3 2014
Bristol-Myers Squibb Co	BMY US	14:30	Investor Teleconference to Discuss CMSTO Highlights
Berkshire Hathaway Inc	BRK/A US		Q3 2014 Earnings Release	Q3 2014	2592.69