MORNING CALL 5/16

MORNING CALL

Monday, May 16th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.16%) are little changed up +0.01% as a +1.95% rally in crude oil (CLM16 +2.16%) to a 6-1/2 month high underpins energy producers. Signs of increased M&A activity is another positive for stocks with Yahoo up nearly 2% in pre-market trading after people familiar with the matter said that Warren Buffett is backing a group bidding for the company's internet assets. European stocks are down -0.67% in thin trade with Germany and Switzerland closed for holiday. Asian stocks settled higher: Japan +0.33%, Hong Kong +0.84%, China +0.84%, Taiwan +0.17%, Australia +0.56%, Singapore +0.04%, South Korea +0.09%, India +0.64%. Despite weaker-than-expected Chinese economic data on Apr industrial production and retail sales, Asian stocks closed higher after the PBOC issued a statement saying that it will create appropriate monetary and financial environment to facilitate steady economic growth.

The dollar index (DXY00 -0.05%) is down -0.06%. EUR/USD (^EURUSD) is up +0.14%. USD/JPY (^USDJPY) is up +0.21%.

Jun T-note prices (ZNM16 -0.11%) are down -3 ticks after a Washington Post story quoted Richmond Fed President Lacker saying "at this point it looks to me as if the case for raising rates looks to be pretty strong in June as inflation is moving decidedly toward 2% and the labor markets have tightened significantly."

In a statement released on its website, the PBOC said the slowdown in new yuan loan growth last month was mainly due to an acceleration in local government debt swaps and that prudent monetary policy remains unchanged, overall credit supply and aggregate financing growth are steady, and the PBOC will create appropriate monetary and financial environment to facilitate steady economic growth.

China Apr industrial production rose +5.8% year-to-date y/y, unch from Mar and weaker than expectations of +6.1% year-to-date y/y.

China Apr retail sales rose +10.3% year-to-date y/y, unch from Mar and weaker than expectations of +10.4% year-to-date y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) May Empire manufacturing index (expected -3.06 to 6.50, Apr +8.94 to 9.56), (2) May NAHB housing market index (expected +1 to 59, Apr unch at 58), (3) Minneapolis Fed President Neel Kashkari holds a town hall meeting on “Too Big to Fail” at the University of Minnesota, (4) USDA weekly grain export inspections, and (5) USDA Weekly Crop Progress.

There are 3 of the Russell 1000 companies that report earnings today: Urban Outfitters (consensus $0.25), Agilent Technologies (0.39), Akorn (0.54).

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

Equity conferences today: American Gas Association Financial Forum on Mon, Electrical Products Group Investor Conference on Mon-Wed,
Bank of America Merrill Lynch Transportation Conference on Tue, Goldman Sachs Basic Materials Conference on Tue-Wed, Barclays Americas Select Franchise Conference on Tue-Wed, CBI's Life Sciences IT Governance and Cybersecurity Summit on Tue-Wed, Barclays Insurance Forum on Wed, MoffettNathanson Media and Communications Conference on Wed, BMO Capital Markets Farm to Market Conference on Wed-Thu, Citi Car of the Future Symposium on Thu, ITG Global Industrials Conference on Thu, Needham Emerging Technology Conference Thu, Business Analytics Innovation Summit on Thu-Fri, Medical Affairs Summit on Fri.

OVERNIGHT U.S. STOCK MOVERS

Yahoo! (YHOO -1.49%) climbed nearly 2% in pre-market trading after people familiar with the matter said that Warren Buffett is backing a group bidding for the company's internet assets.

Globalstar (GSAT +35.36%) jumped 16% in pre-market trading after the chairman of the FCC late Friday asked the agency to vote on Globalstar's proposal to offer mobile service on airwaves now reserved for satellite use.

Nokia OYJ (NOK unch) was upgraded to 'Buy' from 'Hold' at Canaccord Genuity with a price target of $7.

Weibo (WB +2.10%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.

Vornado Realty Trust (VNO -1.54%) was upgraded to 'Buy' from 'Hold' at Evercore ISI with a 12-month price target of $108.

Regions Financial Corp. (RF -1.53%) was downgraded to 'Underperform' from 'Market perform' at KBW.

Infoblox (BLOX -2.99%) was downgraded to 'Underperform' from 'Neutral' at DA Davidson.

Globus Medical (GMED +0.51%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.

Digital Realty Trust (DLR -0.29%) climbed nearly 4% in after-hours trading after it was announced that it will replace Tim Warner Cable in the S&P 500 after the close of trading on Tuesday, May 17.

Blue Buffalo Pet Products (BUFF -0.83%) slid over 4% in after-hours trading after it started a 25 million share secondary offering of common stock.

TerraForm Global (GLBL -1.50%) rose nearly 3% in after-hours trading after Appaloosa Management’s 13F filing showed it increased its stake in TerraForm Global.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.16%) this morning are little changed, up +0.25 of a point (+0.01%). Friday's closes: S&P 500 -0.85%, Dow Jones -1.05%, Nasdaq -0.37%. The S&P 500 on Friday closed lower on concern about a sooner-than-expected Fed rate hike after the very strong U.S. retail sales and consumer sentiment reports. In addition, retail stocks moved lower, led by a -13% plunge in Nordstrom, after the retailer cut its full-year earnings forecast and added to evidence that the U.S. department-store industry is in a deep and probably permanent slump. Stocks were boosted by improved confidence about the U.S. economy after U.S. Apr retail sales rose +1.3% and +0.8% ex-autos, stronger than expectations of +0.8% and +0.5% ex-autos, and by the +6.8 point increase in the U.S. May University of Michigan U.S. consumer sentiment index to an 11-month high of 95.8, stronger than expectations of +0.5 to 89.5.

June 10-year T-note prices (ZNM16 -0.11%) this morning are down -3 ticks. Friday's closes: TYM6 +12.00, FVM6 +5.25. Jun T-notes on Friday closed higher on increased safe-haven demand with the sell-off in stocks. T-notes were above to shake off the strong U.S. retail sales and consumer sentiment reports.

The dollar index (DXY00 -0.05%) this morning is down -0.059 (-0.06%). EUR/USD (^EURUSD) is up +0.0016 (+0.14%). USD/JPY (^USDJPY) is up +0.23 (+0.21%). Friday's closes: Dollar Index +0.426 (+0.45%), EUR/USD -0.0068 (-0.60%), USD/JPY -0.39 (-0.36%). The dollar index on Friday rallied to a 2-1/2 week high and closed higher on increased chances for a Fed rate hike after the strong U.S. Apr retail sales and May U.S. consumer sentiment reports.

June WTI crude oil (CLM16 +2.16%) this morning is up +90 cents (+1.95%) at a 6-1/2 month high. June gasoline (RBM16 +1.44%) is up +0.0206 (+1.30%) at a 2-week high. Friday's closes: CLM6 -0.49 (-1.05%), RBM6 +0.0049 (+0.31%). Jun crude oil and gasoline on Friday settled mixed. Crude oil prices were undercut by the rally in the dollar index to a 2-1/2 week high and by the ongoing U.S. crude oil supply glut with U.S. crude inventories at +33% above their 5-year average. Crude oil prices received a boost from Baker Hughes' report that the number of active U.S. oil rigs fell by another -10rigs to 318 in the week ended May 13, the fewest in 6-1/2 years.

GLOBAL EVENT CALENDAR05/16/2016

US	0830 ET	May Empire manufacturing index expected -3.06 to 6.50, Apr +8.94 to 9.56.
	1000 ET	May NAHB housing market index expected +1 to 59, Apr unch at 58.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Weekly Crop Progress.
	1900 ET	Minneapolis Fed President Neel Kashkari holds a town hall meeting on Too Big to Fail at the University of Minnesota.
JPN	0200 ET	Japan Apr machine tool orders, Mar -21.2% y/y.

U.S. STOCK CALENDAR05/16/2016

Company	Ticker	Time	Event Description	Period	Estimate
Reynolds American Inc	RAI US	4:00	Investor Meeting	Y 2016
RenaissanceRe Holdings Ltd	RNR US	8:00	Annual General Meeting	Y 2016
CommScope Holding Co Inc	COMM US	8:30	Investor Day	Y 2016
Liberty Interactive Corp QVC Group	QVCA US	12:15	Investor Meeting	Y 2016
PacWest Bancorp	PACW US	13:30	Annual General Meeting	Y 2016
Markel Corp	MKL US	16:30	Annual General Meeting
Agilent Technologies Inc	A US	16:30	Q2 2016 Earnings Call	Q2 2016
Motorola Solutions Inc	MSI US	17:00	Annual General Meeting
Akorn Inc	AKRX US	Aft-mkt	Q1 2016 Earnings Release	Q1 2016	0.539
Agilent Technologies Inc	A US	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	0.389
American Express Co	AXP US		Credit-card Charge-offs and Delinquencies
JPMorgan Chase & Co	JPM US		Credit-card Charge-offs and Delinquencies
Consolidated Edison Inc	ED US		Annual General Meeting
Equifax Inc	EFX US		Investor Meeting - Stockholm	Y 2016
Bank of America Corp	BAC US		Credit-card Charge-offs and Delinquencies
Office Depot Inc	ODP US		Business Update Call
Citigroup Inc	C US		Credit-card Charge-offs and Delinquencies
Robert Half International Inc	RHI US		Annual General Meeting
Urban Outfitters Inc	URBN US		Q1 2017 Earnings Release	Q1 2017	0.251
Capital One Financial Corp	COF US		Credit-card Charge-offs and Delinquencies
Ultimate Software Group Inc/The	ULTI US		Annual General Meeting
Alliance Data Systems Corp	ADS US		Credit-card Charge-offs and Delinquencies
Discover Financial Services	DFS US		Credit-card Charge-offs and Delinquencies
Synchrony Financial	SYF US		Credit-card Charge-offs and Delinquencies

Didital Realty Trust - Chart of the Dat

Digital Realty Trusts (DLR) is the Barchart Chart of the Day.  The high tech realty company has a Trend Spotter buy signal, a Weighted Alpha of 15.70+, gained 13.72% in the last year while paying a 4.41% dividend.

The Chart of the Day belongs to Digital Realty Trust  (DLR).  I found the high tech realty stock by using Barchart to sort the 52 week high list first for stocks with the highest number of new highs in the last month, then I used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 12/17 the stock gained 5.89%.

Digital Realty Trust (DLR) owns, acquires, repositions and manages technology-related real estate. The Company's properties contain applications and operations critical to the day-to-day operations of technology industry tenants.

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
• 15 new highs and up 11.86% in the last month
• Relative Strength index 69.17%
• technical support level at 76.30
• Recently traded at 78.00 with a 50 day moving average of 73.56

Fundamental factors:

• Market Cap $10.60 billion
• P/E 15.20
• Dividend yield 4.41%
• Revenue expected to grow 8.70% this year and another 15.10% next year
• Earnings estimated to increase 4.70% this year, an additional 6.60% next year and continue to compound at an annual rate of 7.50% for the next 5 years
• Wall Street analysts issued 7 strong buy, 1 buy, 5 hold and 2 sell recommendations on the stock

This is one of those stocks you shouldn't be trading but buy, hold and put your dividends on a DRIP to compound over time.

BARCHART MORNING CALL 10/6

BARCHART MORNING CALL

Tuesday, October 6th, 2015View Older Reports

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

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You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ15 -0.32%) are down -0.15% as prices consolidate following Monday's sharp rally to a 2-week high. European stocks are up +0.61% at a 2-week high after German Aug factory orders unexpectedly fell and bolstered speculation the ECB may expand monetary stimulus. Gains were limited as basic resource companies and energy producers fell after the price of copper and crude oil declined. Asian stocks settled mostly higher: Japan +1.00%, Hong Kong -0.10%, China closed for holiday, Taiwan +0.50%, Australia +0.33%, Singapore +1.62%, South Korea +0.92%, India +0.55%. Japan's Nikkei Stock Index rallied up to a 2-week high on the prospects for increased trade after Japan, the U.S. and other Pacific-rim countries that make up nearly 40% of the world economy finalized the Trans-Pacific Partnership agreement on Monday. If lawmakers in each country approve the accord, it will guarantee intellectual property rights for drugmakers and reduce tariffs on goods from food to cars and should boost the prospects for increase global trade.

The dollar index (DXY00 -0.23%) is down -0.20%. EUR/USD (^EURUSD) is up +0.25%. USD/JPY (^USDJPY) is down -0.08%.

Dec T-note prices (ZNZ15 +0.11%) are up +1 tick.

German Aug factory orders unexpectedly fell -1.8% m/m, weaker than expectations of +0.5% m/m. On an annual basis, Aug factory orders rose +1.9% y/y, weaker than expectations of +5.6% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Aug U.S. trade deficit (expected -$48.0 billion, Jul -$41.86 billion), (2) Kansas City Fed President Esther George's appearance as keynote speaker at “The Faster Payments Imperative: Transforming the Market” at an event in Chicago, (3) the Treasury's auction of $24 billion of 3-year T-notes, (4) San Francisco Fed President John Williams' speech to the Urban Land Institute, and (5) the IMF's release of its World Economic Outlook.

There are two of the Russell 2000 companies report earnings today: Pepsico (consensus $1.26), Yum Brands (1.06).

U.S. IPO's scheduled to price today: Pure Storage (PSIG), Aclaris Therapeutics (ACRS).

Equity conferences during the remainder of this week include: The China-Russia E-Commerce Summit on Mon, Oil & Money Conference on Tue, Barclays Select Series Biosimilars Symposium on Wed, Capital Link Shipping Marine Services and Offshore Forum on Wed, and Goldman Sachs EMEA Leveraged Finance Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Comerica (CMA +1.61%) was cut to 'Neutral' from 'Overweight' at JPMorgan Chase.

Pepsico (PEP +1.75%) climbed nearly 3% in pre-market trading after it reported Q3 EPS of $1.35, higher than consensus of $1.26.

Greatbatch (GB -0.14%) lowered guidance on fiscal 2015 sales to $685 million-$695 million, weaker than consensus of $714.7 million.

DuPont (DD +4.10%) rose 4% in pre-market trading after the company said Edward Breen will replace Ellen Kullman as chairman and CEO.

PMC-Sierra (PMCS +3.50%) surged 32% in pre-market trading after Skywork Solutions agreed to buy the company for $2 billion.

Computer Sciences Corp. (CSC +1.39%) said it will acquire Australia's UXC for $428 million.

Haemonetics (HAE -2.17%) tumbled over 12% in after-hours trading after it lowered guidance on fiscal 2015 adjusted EPS to $1.65-$1.75 from a Jul projection of $1.98-$2.08, well below consensus of $2.02.

Petrobras (PBR +5.39%) said it will cut its 2015 operating expenses forecast to $29 billion from $30 billion and cut its 2016 operating expenses forecast to $21 billion from $27 billion.

Ruckus Wireless (RKUS +4.25%) climbed 4% in after-hours trading when it was announced the company will join the S&P Smallcap 600 Index as of the close of trading on Wednesday, October 7.

Regulus Therapeutics (RGLS +0.77%) surged over 20% in after-hours trading after it presented new data that demonstrated a favorable pre-clinical profile for its RG-012 drug in treatment of Alport syndrome, a life-threatening genetic kidney disease.

Ilumina (ILMN -0.27%) slumped over 15% in after-hours trading after it lowered guidance on Q3 revenue to $550 million, below consensus of $569.1 million, and also lowered guidance on its Q4 revenue estimate to $570 million, weaker than consensus of $603.2 million.

The Container Store Group (TCS +2.84%) fell 4% in after-hours trading after it reported Q2 adjusted EPS of 6 cents, below consensus of 7 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 -0.32%) this morning are down -3.00 points. Monday's closes: S&P 500 +1.83%, Dow Jones +1.85%, Nasdaq +1.50%. The S&P 500 on Monday climbed to a 2-week high and closed sharply higher on carryover support from Friday's weaker-than-expected U.S. Sep payrolls report that pushed back Fed interest rate increase expectations from this year into Q1 of 2016 at the earliest. In addition, basic-resource stocks and energy producers rallied as the price of copper and crude oil moved higher. Stocks were able to shake off the -2.1 point decline in the Sep ISM non-manufacturing PMI, which was weaker than expectations of -1.5 to 57.5.

Dec 10-year T-notes (ZNZ15 +0.11%) this morning are up +1 tick. Monday's closes: TYZ5 -16.50, FVZ5 -9.50. Dec T-notes on Monday closed lower on the rally in the S&P 500 to a 2-week high, which reduced the safe-haven demand for T-notes, and on an increase in inflation expectations after the 10-year T-note breakeven rate rose to a 1-week high.

The dollar index (DXY00 -0.23%) this morning is down -0.194 (-0.20%). EUR/USD (^EURUSD)is up +0.0028 (+0.25%). USD/JPY (^USDJPY) is down-0.10 (-0.08%). Monday's closes: Dollar Index +0.276 (+0.29%), EUR/USD -0.0020 (-0.25%), USD/JPY +0.55 (+0.46%). The dollar index on Monday closed higher on strength in USD/JPY after a rally in stocks reduced the safe-haven demand for the yen. In addition, EUR/USD saw weakness on the downward revision in the Eurozone Sep Markit composite PMI and the decline in Eurozone Oct Sentix investor confidence to a 9-month low, which bolstered speculation the ECB may expand stimulus.

Nov crude oil (CLX15 -0.69%) this morning is down -11 cents (-0.24%) and Nov gasoline (RBX15 -0.15%) is up (+0.36%). Monday's closes: CLX5 +0.72 (+1.58%), RBX5 +0.0441 (+3.29%). Nov crude oil and gasoline on Monday closed higher on last Friday's Baker Hughes report showing that the number of active U.S. oil rigs as of Oct 2 fell -26 to a 5-year low of 614 rigs. Crude oil also closed higher on the escalation of Middle Eastern hostilities after Russian fighter jets flew into Turkish airspace and Turkey warned it would protect its airspace "at any cost."

GLOBAL EVENT CALENDAR10/06/2015

US	0830 ET	Aug trade balance expected -$48.0 billion, Jul -$41.86 billion.
	0915 ET	Kansas City Fed President Esther George is keynote speaker at The Faster Payments Imperative: Transforming the Market at an event in Chicago.
	1300 ET	Treasury auctions $24 billion of 3-year T-notes.
	1730 ET	San Francisco Fed President John Williams delivers an outlook speech to the Urban Land Institute.
	n/a	IMF releases its World Economic Outlook.
GER	0200 ET	German Aug factory orders expected +0.5% m/m and +5.6% y/y, Jul -1.4% m/m and -0.6% y/y.
UK	0400 ET	UK Sep new car registrations, Aug +9.6% y/y.
	1901 ET	UK Sep BRC shop price index, Aug -1.4% y/y.
EUR	1300 ET	ECB President Mario Draghi speaks at an event organized by the ECB in Frankfurt.

U.S. STOCK CALENDAR10/06/2015

Company	Ticker	Time	Event Description	Period	Estimate
PepsiCo Inc	PEP US	6:30	Q3 2015 Earnings Release	Q3 2015	1.263
PepsiCo Inc	PEP US	8:00	Q3 2015 Earnings Call	Q3 2015
Premier Inc	PINC US	9:00	Investor Day	Y 2015
Microsoft Corp	MSFT US	10:00	Special Media Event: Windows 10 Devices
Digital Realty Trust Inc	DLR US	10:00	Investor Day	Y 2015
Digital Realty Trust Inc	DLR US	13:00	Investor Day - Afternoon Session	Y 2015
Adobe Systems Inc	ADBE US	17:00	Analyst Meeting	Y 2015
Yum! Brands Inc	YUM US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	1.06
Altera Corp	ALTR US	17:30	Extraordinary Shareholders Meeting
McDonald's Corp	MCD US		McDonald's Corp. Begins Offering All-Day Breakfast in U.S. Locations
Altera Corp	ALTR US		Special Meeting - M&A Vote

Barchart Morning Call 10/26

Barchart Morning Call

BC - 1 hr 50 mins ago

Overnight Developments

• Dec E-mini S&Ps are down -0.80% at a 1-1/2 month low and European stocks are down -0.58% as weaker-than-expected earnings results undercuts stock prices. Ericsson AB, the world's largest maker of mobile-phone networks, posted a 43% decline in Q3 profit, while Amazon, the biggest online retailer, posted its first quarterly net loss since 2003. Asian stocks also closed lower despite Japan increasing stimulus measures with Japan down -1.35%, China -1.89%, Australia -0.85%, South Korea -1.80% and India -0.71%. Commodities declined as well with Dec gold down -0.54%, Dec crude off by -0.52% and Dec copper down -0.58% to a 1-1/2 month low. EUR/USD slumped to a 2-week low after Spanish unemployment rose to a record in Q3. The dollar index climbed +0.24% to a 2-week high, while Dec 10-year T-notes are up +15 ticks as the slide in global equities fuels increased safe-haven demand for Treasuries.
• Q3 Spain unemployment rose +0.42 from Q2 to 25.02%, the second highest in the EU after Greece and the highest since Spain began keeping records in 1976, the year after dictator Franco's death led Spain to democracy.
• The German Nov GfK consumer confidence survey unexpectedly rose +0.2 from Oct to 6.3, stronger than expectations of unchanged and its highest level in 5 years.
• The German Sep import price index fell -0.7% m/m and rose +1.8% y/y, weaker than expectations of +0.3% m/m and +2.9% y/y.
• Q3 South Korea GDP rose +1.6% y/y, weaker than expectations of 1.7% y/y and the slowest pace since 2009.
• The Japanese government announced 750 billion yen ($9.4) billion of fiscal stimulus in an attempt to boost economic growth. Japan's Economy Minister Maehara said the government will tap discretionary budget funds to fund some of the stimulus but hasn't decided on how to fund further planned stimulus measures as lawmakers in Japan's Diet are blocking financing legislation. Japan's main opposition party has vowed to block a bill allowing the government to borrow 38.3 trillion yen ($477 billion) for this year's deficit as they press Prime Minister Noda to call early elections.
  Market Comments
  • Dec E-mini S&Ps this morning are down -11.25 points (-0.80%) to a fresh 1-1/2 month low. The S&P 500 index on Thursday closed mildly higher: S&P 500 +0.30%, Dow Jones +0.20%, Nasdaq 100 +0.08%. Bullish factors included some short-covering after recent losses, a 1.0% q/q increase in UK GDP, and reports that the BOJ next week will boost its asset-purchase program. Yesterday's Sep durable goods orders report of +9.9% was stronger than expectations of +7.5%, but the capital goods component was weaker than expected. Sep non-defensive capital goods orders ex-aircraft were unchanged versus expectations of +0.8%, and Aug was revised lower to +0.2% from +1.1%. The Sep pending home sales report of +0.3% was weaker than market expectations of +2.5%. The weekly initial unemployment claims report was in line with market expectations.
  • Dec 10-year T-notes this morning are up +15 ticks on increased safe-haven demand with the slide in global equities. Dec 10-year T-note prices on Thursday closed lower: TYZ2 -15, FVZ2 -8.75. Bearish factors included the mildly higher close in stocks, technical selling with the new 2-month low, and the poor reception seen for the 7-year T-note auction, which saw a bid cover ratio of 2.56 that was the lowest in more than three years. Fitch said that it is leaving America's AAA credit rating unchanged with a negative outlook and that it would not change anything until at least late 2013 as it waits to gauge Washington's budget moves next year.
  • The dollar index this morning is up by +0.24% to a 2-week high with EUR/USD down -0.30% to a 2-week low and USD/JPY down -0.61%. USD/JPY had posted a 4-month high overnight on expectations of further BOJ stimulus measures at next week's policy meeting, although USD/JPY fell back after a drop in stock prices boosted safe-haven demand for the yen. The dollar index on Thursday closed slightly higher: Dollar index +0.17 (+0.21%), EUR/USD -0.0040(-0.31%), USD/JPY +0.49 (+0.61%). The dollar index closed slightly higher as T-note yields rose and supported the dollar's interest rate differentials. However, bearish factors for the dollar included the slightly higher close in stocks, the weaker-than-expected U.S. pending home sales report, and reports that troika officials have reached a draft agreement with Greece. However, the hard part now is for Greek Prime Minister Samaras to see if he can push the new austerity measures through the Greek parliament without fracturing his coalition.
  • Dec WTI crude oil prices this morning are down -45 cents a barrel and Dec gasoline is down -0.97 cents a gallon. Dec crude oil on Thursday closed higher: CLZ2 +0.32 (+0.37%), RBZ2 +0.0410 (+1.58%). Crude oil and gasoline prices saw some short-covering. Gasoline received a boost from forecasts that Hurricane Sandy could be the worst storm to hit the Northeastern U.S. in a century, which could disrupt refinery operations and disrupt oil and gasoline shipments into NY Harbor where Nymex gasoline futures are priced.
  • For the complete subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
    Today's U.S. Earnings Reports Earnings reports (ranked by market cap): MRK-Merck (Consensus:$0.93), CMCSA-Comcast (0.46), LVS-Las Vegas Sands (0.60), LYB-Lyondellbassel (1.44), VTR-Ventas (0.28), AON-Aon (0.90), WY-Weyerhaeuser (0.18), MCO-Moody's (0.62), DLR-Digital Realty (0.16), COL-Rockwell Collins (1.11), CVH-Coventry Health (0.72), NWL-Newell Rubbermaid (0.44), IPG-Interpublic (0.17), ARE-Aleandria Realty (0.31), LEA-Lear (1.20), BOKF-BOK Finl (1.22), LM-Legg Mason (0.52), AHGP-Alliance Holding (0.90), GT-Goodyear Tire (0.59), OSK-Oshkosh (0.47), UFS-Domitar (1.59), OHI-Omega Healthcare (0.27).
    Global Financial Calendar
    

    Friday 10/26/12
    United States
    0830 ET	U.S. Q3 GDP expected +1.9% q/q annualized, Q2 +1.3%. Q3 personal consumption expected +2.1%, Q2 +1.5%. Q3 GDP price index expected +2.1%, Q2 +1.6%. Q3 core PCE expected +1.3% q/q, Q2 +1.7% q/q.
    0955 ET	Final-Oct U.S. consumer confidence (University of Michigan) expected -0.1 to 83.0, early-Oct +4.8 to 83.1.
    Germany
    0200 ET	German Nov GfK consumer confidence survey expected unch at 5.9, Oct 5.9.
    0200 ET	German Sep import price index expected +0.3% m/m and +2.9% y/y, Aug +1.3% m/m and +3.2% y/y.
    CHI
    2130 ET	China Sep industrial profits, -3.1% ytd y/y.

    Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

Digital Realty - DLR - Barchart Chart of the Day

Barchart.coms Chart of the Day - Digital Realty Trust (DLR)

Barchart Research Team - Barchart.com - Fri Mar 30, 8:57PM CDT

Related Stocks

DLR - Digital Realty Trust

Sym	Last	Chg	Pct
DLR	73.40	-0.57	-0.77%

The "Chart of the Day" is Digital Realty Trust (DLR), which showed up on Friday's Barchart "All Time High" list. Digital Realty on Friday posted a new all-time high of $74.04 and closed up 1.43%. TrendSpotter has been Long since Feb 23 at $70.90. In recent news on the stock, Digital Realty on Feb 17 reported Q4 adjusted funds from operation (FFO) at $1.03 per share, above the consensus of $1.01. Morgan Stanley on Feb 16 initiated coverage on DLR with an Overweight and a target of $76. However, Jefferies on March 15 downgraded DLR to Hold from Buy due to valuation. RBC Capital on Feb 27 downgraded DLR to Sector Perform from Outperform but raised its target to $75 from $71. Digital Realty Trust, with a market cap of $7.8 billion, is a real estate investment trust that owns and manages technology-related real estate.


How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
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.

• TrendSpotter: Buy
• Short-Term Indicators: 100% Buy
• Medium-Term Indicators: 100% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 100% Buy

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Barchart links for further information:

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Quote
Detailed Quote
Chart

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Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
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Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual

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Chart of the Day Archive
View Past Chart of the Day Reports

Barchart Morning Call 2-17

Barchart Morning Call

Barchart.com - 39 mins ago

Overnight Developments

• Global stocks this morning are mostly higher with the Euro Stoxx 50 up +0.33% and Mar S&Ps up +1.40 points. The dollar and Treasuries are slightly weaker, while credit default swaps to insure European government debt fell on optimism Greece will get a bailout. According to people familiar with the talks, European governments are considering cutting interest rates on emergency loans to Greece and using contributions from the ECB's sale of its Greek debt holdings to plug a financing gap in the second Greek bailout. Another positive for European stocks and the euro is reduced funding concerns for European banks after the Euribor-OIS spread, a measure of banks' reluctance to lend that is the difference between the euro interbank offered rate and overnight indexed swaps, fell to 69 bp, a 5-1/2 month low. The British pound climbed to a 1-week high against the dollar after Jan U.K. retail ex auto fuel unexpectedly rose +1.2% m/m and +1.9% y/y, stronger than expectations of a -0.3% m/m and -0.1% y/y decline.
• Asian stocks today closed higher with Japan up +1.58%, China +0.04%, Australia +0.34%, South Korea +1.50%, India +0.75%. The Japanese yen extended its recent slide as it fell to a fresh 3-1/2 month low against the dollar and fueled a rally in stocks with the Nikkei 225 Stock Index climbing to its best level in 6-1/2 months. Strength in U.S. economic data also boosted stocks that export to the U.S., led by a 2.4% gain for Honda Motor. Chinese stocks closed little changed as weakness in bank stocks limited gains. The China Banking Regulatory Commission reported that Q4 China commercial banks' bad loans rose 20.1 billion yuan ($3.2 billion) to 427.9 billion yuan as of Dec 31 as non-performing loans accounted for 0.96% of total lending, up from 0.95% in Q3. Chinese housing developers and builders also weakened after Qin Hong, head of the policy research center under the Ministry of Housing and Urban-Rural Development said China will "unwaveringly" maintain property curbs in both the long and short term.

Overnight U.S. Stock News

• March S&Ps this morning are trading up +1.40 points. The US stock market on Thursday settled higher on better-than-estimated U.S. economic data along with increased optimism over Greek bailout efforts: Dow Jones +0.96%, S&P 500 +1.10%, Nasdaq Composite +1.51%. Bullish factors Thursday included (1) the unexpected decline in weekly initial U.S. unemployment claims to a nearly 4-year low (-13,000 to 348,000 versus expectations of +7,000 to 365,000), (2) the larger-than-expected increase in Jan U.S. housing starts (+1.5% to 699,000 versus expectations of +2.7% to 675,000), (3) the greater-than-expected increase in the Feb Philadelphia Fed manufacturing index (+2.9 to 10.2 versus expectations of +1.7 to 9.0), (4) the action by Congress to agree on a plan to extend a payroll tax cut and expanded unemployment benefits through the rest of the year, and (5) the report from the German newspaper Die Welt that the ECB is exchanging Greek bonds for new securities and using the profits to plug a financing gap in the second bailout for Greece, which eases concern that Greece will get its aid package on time to avoid default.
• Bearish factors included (1) the warning from Moody's Investors Service that ratings for global banks may be cut as lenders worldwide face risks of rising funding costs due to the European debt crisis and (2) global economic concerns after China's commerce industry said the outlook for foreign investment in China and trade this year is "grim" along with the ECB's monthly report that said forecasters lowered their 2012 Euro-Zone GDP forecast to a contraction of -0.1% from a Nov projection of +0.8% growth, while they cut their 2013 GDP forecast to 1.1% from a Nov estimate of 1.6%.
• Applied Materials (AMAT) climbed 5.5% in European trading after the largest maker of chipmaking equipment forecast Q2 profit of 20 cents to 28 cents a share, better than analysts' estimates of 16 cents on average.
• Dell (DELL) fell 1% in European trading after the stock was cut to "neutral" from "outperform" at Robert W Baird. & Co.

Today's Market Focus

• March 10-year T-notes this morning are down -3 ticks. T-note prices on Thursday settled lower after stronger-than-expected U.S. economic data and reduced European debt concerns limited the safe-haven demand for Treasuries: TYH2 -19.0, FVH2 -11.5, EDM2 -2.0. Bearish factors Thursday included (1) the unexpected decline in weekly initial U.S. unemployment claims to a nearly 4-year low (-13,000 to 348,000 versus expectations of +7,000 to 365,000), (2) the larger-than-expected increase in Jan core PPI (+0.4% m/m and +3.0% y/y versus expectations of +0.2% m/m and +2.7% y/y), (3) the larger-than-expected increase in Jan U.S. housing starts (+1.5% to 699,000 versus expectations of +2.7% to 675,000), (4) the greater-than-expected increase in the Feb Philadelphia Fed manufacturing index (+2.9 to 10.2 versus expectations of +1.7 to 9.0), and (5) reduced safe-haven demand for Treasuries after the German newspaper Die Welt reported that the ECB is exchanging Greek bonds for new securities, which eases concern that Greece will get its second bailout. Bullish factors included (1) increased safe-haven demand for Treasuries after Moody's warned that ratings for global banks may be cut as lenders worldwide face risks of rising funding costs due to the European debt crisis and (2) global economic concerns after China's commerce industry said the outlook for foreign investment in China and trade this year is "grim" and after the ECB's monthly report said forecasters lowered their 2012 and 2013 Euro-Zone GDP forecasts.
• The dollar index this morning is weaker with the dollar/yen +0.24 yen and the euro/dollar +0.32 cents. The dollar index on Thursday retreated from a 3-week high and finished lower after a German newspaper reported the ECB is swapping its 50 billion euros of Greek bond holdings for new Greek bonds: Dollar Index -0.322, USDJPY +0.498, EURUSD +0.00642. Bearish factors included (1) a rebound in the euro which recovered from a 3-week low against the dollar and closed higher after Germany's Die Welt reported that the ECB is swapping its 50 billion euros of Greek bond holdings at their nominal value for a profit and will distribute the profits to national governments and on into the debt crisis bailout program and (2) reduced safe-haven demand for the dollar as the stock market rallied. Bullish factors Thursday included (1) increased safe-haven demand for the dollar after Moody's Investors Service warned that ratings for global banks may be cut as lenders worldwide face risks of rising funding costs due to the European debt crisis, (2) weakness in the yen which fell to a 3-1/2 month low against the dollar as a rally in stocks reduced its safe-haven demand, and (3) the stronger-than-expected U.S. economic data on weekly jobless claims, Jan housing starts and the Feb Philadelphia ed manufacturing index, which signals economic strength and is dollar supportive.
• Mar crude oil prices this morning are up +45 cents a barrel and Mar gasoline is -0.59 of a cent per gallon. Crude oil and gasoline prices Thursday traded on either side of unchanged and finished higher as a rally in the dollar was offset by stronger-than-expected U.S. economic data that suggests energy demand may strengthen: CLH12 +$0.51, RBH +4.04. Bullish factors included (1) the unexpected decline in weekly initial U.S. unemployment claims to near a 4-year low along with the stronger-than-expected Jan housing starts and Feb Philadelphia Fed manufacturing index, which indicate economic strength that is supportive for energy demand and (2) strength in gasoline on concern that more refinery outages will threaten the supply of gasoline for the summer driving season after Exxon Mobile took its Beaumont, Texas refinery offline for repairs and Marathon Petroleum shut its Garyville, Louisiana plant after a power failure. Bearish factors included (1) the rally in the dollar index to a 3-week high, which discourages investment demand in commodities, (2) the statement from China's commerce industry that said the outlook for foreign investment in China and trade this year is "grim," which is negative for fuel demand, and (3) the monthly report from the ECB that said forecasters lowered their 2012 and 2013 Euro-Zone GDP forecasts, which signals reduced energy consumption in Europe.

Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): VTR-Ventas (BEST earnings consensus $0.33), HNZ-HJ Heinz (0.85), CPB-Campbell Soup (0.62), EEP-Enbride Energy Partners LP (0.38), CEG-Constellation Energy Group (0.67), DLR-Digital Realty Trust (0.30), LECO-Lincoln Electric Holdings (0.63), AGP-Amerigroup (0.62), HMSY-HMS Holdings (0.17), CKH-SEACOR Holdings (1.28), LPNT-LifePoint Hospitals (0.76), HGIC-Harleysville Group (0.65), GMLP-Golar LNG Partners LP (0.47), B-Barnes Group (0.32), POL-PolyOne (0.14), PPC-Pilgrim's Pride (-0.30).
Global Financial Calendar

Friday 2/17/12
United States
0830 ET	Jan CPI expected +0.3% m/m and +2.8% y/y, Dec unchanged m/m and +3.0% y/y. Jan CPI ex food & energy expected +0.2% m/m and +2.2% y/y, Dec +0.1% m/m and +2.2% y/y.
1000 ET	Jan leading indicators expected +0.5%, Dec +0.4%.
Germany
0200 ET	Jan German producer prices expected +0.3% m/m and +3.2% y/y, Dec -0.4% m/m and +4.0% y/y.
United Kingdom
0430 ET	Jan U.K. retail sales ex auto fuel expected -0.3% m/m and -0.1% y/y, Dec +0.6% m/m and +1.7% y/y.
0430 ET	Jan U.K. retail sales with auto fuel expected -0.3% m/m and +0.5% y/y, Dec +0.6% m/m and +2.6% y/y.
Euro-Zone
0500 ET	Dec Euro-Zone construction output, Nov +0.8% m/m and +0.2% y/y.
Canada
0700 ET	Jan Canada CPI expected +0.3% m/m and +2.3% y/y, Dec -0.6% m/m and +2.3% y/y.
0700 ET	Jan Bank of Canada core CPI expected unchanged m/m and +1.9% y/y, Dec -0.5% m/m and +1.9% y/y.
0830 ET	Jan Canada leading indicators expected +0.6% m/m, Dec +0.8% m/m.

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Digital Realty - DLR - Barchart Chart of the Day

Barchart.com's Chart of the Day - Digital Realty Trust (DLR)

Barchart Research Team - Barchart.com - Thu Jan 26, 4:33PM CST

Related Stocks

DLR - Digital Realty Trust

Sym	Last	Chg	Pct
DLR	69.59	+0.75	+1.09%

The "Chart of the Day" is Digital Realty Trust (DLR), which showed up on Thursday's Barchart "All Time High" list. DLR on Thursday posted a new all-time high of $69.87 and closed up 1.09%. TrendSpotter has been Long since Oct 18 at $58.92. In recent news on the stock, Collins Stewart on Jan 19 initiated coverage with a Neutral and a target of $65. KeyBanc on Jan 12 downgraded DLR to Hold from Buy due to valuation but raised its target price to $68 from $66. Digital Realty Trust, with a market cap of $7.1 billion, owns, acquires, repositions and manages technology-related real estate, mainly data centers.



How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
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.

• TrendSpotter: Buy
• Short-Term Indicators: 100% Buy
• Medium-Term Indicators: 100% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 100% Buy

---

Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual

---

Chart of the Day Archive
View Past Chart of the Day Reports