MORNING CALL 7/7

MORNING CALL

Thursday, July 7th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Sep E-mini S&Ps (ESU16 -0.12%) are down -0.06% ahead of Jun ADP employment data later this morning and European stocks are up +1.21%. Energy producing stocks higher as crude oil (CLQ16 +1.08%) is up +0.97% after API data released late yesterday showed U.S. crude stockpiles dropped -6.7 million bbl last week. Increased M&A activity is another positive factor for stocks with Danone up 7% after it agreed to buy WhiteWave Foods for about $10 billion. EUR/USD fell -0.20% and gains in European stocks were limited after German May industrial production unexpectedly declined by the most in 1-3/4 years. Asian stocks settled mixed: Japan -0.67%, Hong Kong +1.03%, China -0.01%, Taiwan +0.76%, Australia +0.59%, Singapore -0.09%, South Korea +1.13%, India +0.13%.

The dollar index (DXY00 -0.02%) is down -0.03%. EUR/USD (^EURUSD) is down -0.20%. USD/JPY (^USDJPY)is down -0.17%.

Sep T-note prices (ZNU16 -0.05%) are unchanged.

German May industrial production unexpectedly fell -1.3% m/m, weaker than expectations of +0.1% m/m and the biggest decline in 1-3/4 years.

UK May industrial production fell -0.5% m/m and rose +1.4% y/y, stronger than expectations of -1.0% m/m and +0.5% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jun Challenger job cuts (May -26.5% y/y), (2) June ADP employment change (expected +160,000, May +173,000), (3) weekly initial unemployment claims (expected -1,000 to 267,000, previous +10,000 to 268,000) and continuing claims (expected unch at 2.120 million, previous 20,000 to 2.120 million), and (4) EIA Weekly Petroleum Status Report.

Russell 1000 companies reporting earnings today: PepsiCo (consensus $1.29).

U.S. IPO's scheduled to price today: none.

Equity conferences this week include: none.

OVERNIGHT U.S. STOCK MOVERS

First Solar (FSLR +2.85%) slipped 3% in pre-market trading after it was downgraded to 'Hold' from 'Buy' at Deutsche Bank.

WhiteWave Foods (WWAV +0.94%) jumped 18% in pre-market trading after Danone agreed to buy the company for about $10 billion.

Endologix (ELGX +2.49%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital Markets.

Depomed (DEPO +3.79%) was downgraded to 'Neutral' from 'Buy' at UBS.

Red Hat (RHT +1.25%) was downgraded to 'Equalweight' from 'Overweight' at Morgan Stanley.

Pepsico (PEP -0.47%) reported Q2 EPS of $1.35, better than consensus of $1.29.

Plains GP Holdings LP (PSGP unch) was downgraded to 'Hold' from 'Buy' at Evercore ISI.

Seagate Technology (STX +1.55%) gained almost 2% in after-hours trading after the company announced that Mark Long will become CFO in addition to his current role as chief strategy officer.

Time Warner (TWX +0.93%) was rated a new 'Buy' at Brean Capital with a 12-month price target of $90.

Western Digital (WDC +1.65%) climbed nearly 3% in after-hours trading after it reported preliminary Q4 adjusted EPS of 72 cents, above a previous forecast of 65 cents-70 cents.

CBS Corp. (CBS +0.77%) was rated a new 'Buy' at Brean Capital with a 12-month price target of $65.

MARKET COMMENTS

September E-mini S&Ps (ESU16 -0.12%) this morning are down -1.25 ponts (-0.06%). Wedneday's closes: S&P 500 +0.54%, Dow Jones +0.44%, Nasdaq +0.77%. The S&P 500 on Wednesday rebounded from early losses and closed higher on the +3.6 point increase in the U.S. Jun ISM non-manufacturing index to 56.5, stronger than expectations of +0.4 to 53.3 and the fastest pace of expansion in 7 months. Stocks were also boosted by a rally in drug companies that lifted the health-care sector.

Sep 10-year T-note prices (ZNU16 -0.05%) this morning are unchnaged. Wedneday's closes: TYU6 -7.00. FVU6 -4.25. Sep T-notes on Wednesday fell back from a 3-1/2 year nearest-futures high and closed lower on signs of economic strength after the U.S. Jun ISM non-manufacturing index expanded at the fastest pace in 7 months (+3.6 to 56.5). T-notes were also undercut by reduced safe-haven demand after the S&P 500 rebounded from early losses and moved higher. T-notes found support from carryover support from rallies in German bunds and UK gilts to all-time highs and from dovish comments from Fed Governor Tarullo who said that inflation and unemployment haven't yet reached levels that would justify an interest rate hike.

The dollar index (DXY00 -0.02%) this morning is down -0.032 (-0.03%). EUR/USD (^EURUSD) is down -0.0022 (-0.20%). USD/JPY (^USDJPY) is down-0.17 (-0.17%). Wedneday's closes: Dollar Index -0.113 (-0.12%), EUR/USD +0.0024 (+0.22%), USD/JPY -0.42 (-0.41%). The dollar index on Wednesday fell back from a 1-week high and closed lower on weakness in USD/JPY, which fell to a 1-week low, and on dovish comments from Fed Governor Tarullo who said that inflation and unemployment haven't yet reached levels that would justify an interest rate increase. The dollar index was boosted by weakness in GBP/USD which fell to a fresh 31-year low, and by the stronger-than-expected U.S. Jun ISM non-manufacturing index.

Aug WTI crude oil (CLQ16 +1.08%) this morning is up +46 cents (+0.97%). Aug gasoline (RBQ16 +2.13%) is up +0.0313 (+2.18%). Wedneday's closes: CLQ6 +0.83 (+1.78%), RBQ6 +0.0042 (+0.29%). Aug crude oil and gasoline on Wednesday closed higher as Aug crude recovered from a 1-week low and Aug gasoline rebounded from a 2-3/4 month low. Crude oil prices were boosted by a weaker dollar and by expectations that Thursday's weekly EIA report will show that U.S. crude inventories fell -2.5 million bbl.

GLOBAL EVENT CALENDAR07/07/2016

		Thursday, July 7, 2016
US	0730 ET	Jun Challenger job cuts, May -26.5% y/y.
	0815 ET	Jun ADP employment change expected +160,000, May +173,000.
	0830 ET	Weekly initial unemployment claims expected -1,000 to 267,000, previous +10,000 to 268,000. Weekly continuing claims expected unch at 2.120 million, previous -20,000 to 2.120 million.
	1100 ET	EIA Weekly Petroleum Status Report.
	1100 ET	Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $20 billion), and 30-year T-bonds (previous $12 billion) to be auctioned Jul 11-13.
		Friday, July 8, 2016
US	0830 ET	Jun non-farm payrolls expected +180,000, May +38,000. Jun private payrolls expected +170,000, May +25,000. Jun manufacturing payrolls expected -1,000, May 10,000. Jun unemployment rate expected +0.1 to 4.8%, May -0.3 to 4.7%.
	0830 ET	Jun avg hourly earnings expected +0.2% m/m and +2.7% y/y, May +0.2% m/m and +2.5% y/y. Jun avg weekly hours all employees expected unch at 34.4 hours, May unch at 34.4 hours.
	0830 ET	USDA weekly Export Sales.
	1500 ET	May consumer credit expected +$16.250 billion, Apr +$13.416 billion.
	n/a	G-20 trade ministers meet in Shanghai.
JPN	0030 ET	Japan Jun bankruptcies, May -7.32% y/y.
	0100 ET	Japan Jun eco watchers survey outlook expected -0.6 to 46.7, May 47.3. Jun eco watchers survey current expected +0.1 to 43.1, May 43.0.
GER	0200 ET	German May trade balance expected +23.5 billion euros, Apr +25.7 billion euros. May exports expected +0.4% m/m, Apr +0.1% m/m. May imports expected +0.7% m/m, Apr -0.3% m/m.
	0200 ET	German May current account balance expected +24.6 billion euros, Apr +28.8 billion euros.
UK	0430 ET	UK Q1 unit labor costs expected +1.6% y/y, Q4 +1.3% y/y.

U.S. STOCK CALENDAR07/07/2016

Company	Ticker	Time	Event Description	Period	Estimate
PepsiCo Inc	PEP US	6:30	Q2 2016 Earnings Release	Q2 2016	1.294
Fastenal Co	FAST US	7:00	June 2016 Sales and Revenue Release	2016
L Brands Inc	LB US	7:30	June 2016 Sales and Revenue Call	2016
PepsiCo Inc	PEP US	8:00	Q2 2016 Earnings Call	Q2 2016
Gap Inc/The	GPS US	16:15	June 2016 Sales and Revenue Release	2016
L Brands Inc	LB US		June 2016 Sales and Revenue Release	2016
Healthcare Trust of America Inc	HTA US		Annual General Meeting

BARCHART MORNING CALL 8/26

BARCHART MORNING CALL

Wednesday, August 26th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 +1.87%) are up +1,76% on increased M&A activity after Schlumberger Ltd. agreed to buy Cameron for $14.8 billion. Strength in technology stocks is another positive with Google up over 3% in pre-market trading after Goldman Sachs upgraded the stock to 'Conviction Buy.' European stocks are down -1.00% as they followed Chinese stocks lower after China's Shanghai Composite erased a gain of almost 4% to close down over 1%. Miners and energy producers are leading losses in European stocks with the price of copper (HGU15 -2.62%) down -2.70% and with Transocean Ltd. down 10% in pre-market trading after the company said it may quit paying a dividend. Asian stocks closed mixed: Japan +3.20%, Hong Kong -1.52%, China -1.27%, Taiwan +0.52%, Australia +0.69%, Singapore -0.46%, South Korea +2.08%, India -1.22%. China's Shanghai Composite erased an early rally and closed down at an 8-1/4 month low despite Tuesday's action by the PBOC to cut interest rates. The Chinese government has halted intervention in the equity market this week which has prompted liquidation of stocks from margin traders. China's margin debt has plunged by 1 trillion yuan ($156 billion) to 1.25 trillion yuan on Monday from a record high 2.27 trillion yuan on Jun 18. Japan's Nikkei Stock Index recovered from a 6-1/4 month low and closed higher on bargain hunting and increased M&A activity after Nippon Life Insurance agreed to buy Mitsui Life Insurance for 400 billion yen ($2.5 billion).

The dollar index (DXY00 +0.07%) is up +0.02%. EUR/USD (^EURUSD) is down -0.82% after comments from ECB Executive Board member Praet signal the ECB may boost its stimulus measures when he said the downside risks to the ECB's inflation goal have increased. USD/JPY (^USDJPY) is up +0.63%.

Sep T-note prices (ZNU15 +0.18%) are up +9 ticks.

ECB Executive Board member Praet said that "recent developments in the world economy and commodity markets have increased the downside risk of achieving the sustainable inflation path towards 2.0%" and there should be "no doubt that the ECB will act if needed."

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +3.6% with purchase sub-index -1.1% and refi sub-index +7.2%), (2) July durable goods orders (expected -0.4% and +0.4% ex-transportation, Jun +3.4% and +0.6% ex transportation), (3) New York Fed President William Dudley's responds to questions after a press briefing on the local and regional economy, (4) the Treasury's auction of $35 billion of 5-year T-notes and $13 billion of 2-year floating rate notes.

There are 5 of the Russell 1000 companies that report earnings today: Brown-Forman (consensus $0.75), Williams-Sonoma (0.58), PVH (1.29), Avago Technologies (2.14), Workday (-0.06).

U.S. IPO's scheduled to price today include: none.

Equity conferences during the remainder of this week include: 9th Annual South East Asia Australia Offshore & Onshore Conference on Tue-Wed, 9th Annual Mining the Territory Conference on Wed, Pareto Healthcare Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Amazon.com (AMZN +0.65%) was upgraded to 'Buy' from 'Hold' at Evercore ISI.

Best Buy (BBY +12.57%) was upgraded to 'Strong Buy' from 'Market Perform' at Raymond James.

Express (EXPR +1.14%) reported Q2 EPS of 25 cents, higher than consensus of 16 cents.

BHP Billiton (BHP +2.30%) was upgraded to 'Sector Perform' from 'Underperform' at RBC Capital.

Healthcare Trust (HTA -3.40%) and Healthcare Realty Trust (HR -2.56%) were both upgraded to 'Buy' from 'Hold' at Stifel.

Cooper Companies (COO -0.33%) were upgraded to 'Overweight' from 'Sector Weight' at KeyBanc.

Schlumberger (SLB -1.83%) agreed to acquire Cameron (CAM -0.96%) in deal valued at $14.8 billion.

Google (GOOG -1.28%) rose over 3% in pre-market trading after Goldman Sachs upgraded the stock to 'Conviction Buy' from 'Neutral.'

Transocean (RIG -0.49%) fell over 5% in pre-market trading after it announced that the company will convene an extraordinary general meeting of shareholders on October 29 to discuss the possible cancellation of the Q3 and Q4 installments of its annual dividend.

Oshkosh Defense (OSK +1.53%) jumped over 10% in after-hours trading after it said it was awarded a $6.7 billion contract with the U.S. Army to manufacture 17,000 Joint Light Tactical Vehicles.

Jack Henry (JKHY -0.11%) reported Q4 EPS of 75 cents, higher than consensus of 67 cents.

Dycom (DY +1.57%) reported Q4 non-GAAP EPS of 97 cents, well above consensus of 83 cents.

NextEra Energy Partners (NEP -7.28%) was initiated with an 'Outperform' at Baird with a price target of $43.

Solera (SLH +1.09%) reported Q4 adjusted EPS of 81 cents, better than consensus of 80 cents.

CBRE Group (CBG -2.77%) was initiated with a 'Buy' at Sterne Agee CRT wit a price target of $42.

MARKET COMMENTS

Sep E-mini S&Ps (ESU15 +1.87%) this morning are up +33.00 points (+1.76%). Tuesday's closes: S&P 500 -1.35%, Dow Jones -1.29%, Nasdaq -0.55%. The S&P 500 rallied sharply early Tuesday but erased the advance and closed lower. Stocks fell on concern that the slowdown in China may be worse than expected and that even Tuesday's Chinese rate cut will not be enough to spur growth. Stocks rallied early Tuesday on China's fifth rate cut in nine months and on the +10.5 point jump in the U.S. Aug consumer confidence (Conference Board) to 101.5, stronger than expectations of +3.5 to 93.4 and the highest in 7 months.

Sep 10-year T-notes (ZNU15 +0.18%) this morning are up +9 ticks. Tuesday's closes: TYU5 -1-4.5/32, FVU5 -17.25. Sep T-notes on Tuesday closed sharply lower on (1) reduced safe-haven demand for T-notes as global stock markets rallied sharply on the Chinese rate cut, and (2) the large-than-expected increase in U.S. Aug consumer confidence to a 7-month high.

The dollar index (DXY00 +0.07%) this morning is up +0.020 (+0.02%). EUR/USD (^EURUSD) is down -0.0094 (-0.82%). USD/JPY (^USDJPY) is up +0.75 (+0.63%). Tuesday's closes: Dollar Index +1.198 (+1.286%), EUR/USD -0.01019 (-1.02%), USD/JPY +0.432 (+0.36%). The dollar index on Tuesday closed higher on reduced safe-haven demand for the yen as USD/JPY and global stock markets rallied sharply after China cut interest rates. EURUSD saw weakness on speculation the ECB may expand stimulus measures after ECB Vice President Constancio said medium-term inflation risks in the Eurozone are "very low" and the ECB may respond to any material change to the outlook for price stability.

Oct crude oil (CLV15 +0.46%) this morning is up +13 cents (+0.33%) and Oct gasoline (RBV15 -1.93%) is down -0.0295 (-2.28%). Tuesday's closes: CLV5 +1.07 (+2.80%), RBV5 -0.0103 (-0.79%). Oct crude and gasoline on Tuesday settled mixed. Crude oil prices received a boost from the Chinese rate cut, which may help revive China's economic growth and energy demand, and from the larger-than-expected jump in U.S. Aug consumer confidence to a 7-month high. Negative factors included a stronger dollar, weakness in gasoline after BP restarted its 235,000 bpd refinery in Whiting, IN, and expectations that Wednesday's EIA crude inventories report will show an increase of +2.0 million bbl.

GLOBAL EVENT CALENDAR08/26/2015

US	0700 ET	Weekly MBA mortgage applications, previous +3.6% with purchase sub-index -1.1% and refi sub-index +7.2%.
	0830 ET	Jul durable goods orders expected -0.4% and +0.4% ex-transportation, Jun +3.4% and +0.6% ex transportation. Jul capital goods new orders non-defense ex-aircraft & parts expected +0.3%, Jun +0.7%.
	1000 ET	New York Fed President William Dudley answers questions after a press briefing on the local and regional economy.
	1030 ET	EIA Weekly Petroleum Status Report.
	1130 ET	Treasury auctions $13 billion of 2-year floating rate notes.
	1300 ET	Treasury auctions $35 billion of 5-year T-notes.
UK	0600 ET	UK Aug CBI reported sales expected -3 to 18, Jul 21.

U.S. STOCK CALENDAR08/26/2015

Company	Ticker	Time	Event Description	Period	Estimate
Brown-Forman Corp	BF/B US	8:00	Q1 2016 Earnings Release	Q1 2016	0.746
Jack Henry & Associates Inc	JKHY US	8:45	Q4 2015 Earnings Call	Q4 2015
Brown-Forman Corp	BF/B US	10:00	Q1 2016 Earnings Call	Q1 2016
Williams-Sonoma Inc	WSM US	17:00	Q2 2016 Earnings Call	Q2 2016
Avago Technologies Ltd	AVGO US	17:00	Q3 2015 Earnings Call	Q3 2015
Workday Inc	WDAY US	17:00	Q2 2016 Earnings Call	Q2 2016
PVH Corp	PVH US	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	1.288
Williams-Sonoma Inc	WSM US	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	0.578
Avago Technologies Ltd	AVGO US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	2.138
Workday Inc	WDAY US	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	-0.056
Equifax Inc	EFX US		Investor Meeting - Denver	Y 2015
Xcel Energy Inc	XEL US		Analyst/Investor Meeting	Y 2015
Under Armour Inc	UA US		Extraordinary Shareholders Meeting	Y 2015

BARCHART MORNING CALL 7/8

BARCHART MORNING CALL

Wednesday, July 8th, 2015View Older Reports

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

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 -0.75%) are down -0.65% on concern that a sell-off in Chinese stocks will spread across the globe. European stocks are up +0.87% on optimism that the ECB will be able to contain fallout from the Greek debt crisis after ECB Governing Council member Visco said that the ECB is ready to use all means at its disposal in the Greek financial crisis. European leaders on Tuesday ordered Greece to accept a rescue package by Sunday or face expulsion from the Eurozone. Weakness in European automakers is limiting gains in the overall market after China Jun passenger-vehicle sales dropped for the first time in more than 2 years. Asian stocks closed sharply lower: Japan -3.14%, Hong Kong -5.84%, China -5.90%, Taiwan -2.96%, Australia -2.00%, Singapore -1.67%, South Korea -1.25%, India -1.72%. The rout on Chinese stocks continued today with the Shanghai Composite falling to a fresh 3-1/2 month low as government measures to arrest the slide have so far proven ineffective. The sell-off in Chinese shares has spread throughout Asia with Japan's Nikkei Stock Index falling to a 1-1/2 month low.
Commodity prices are mixed. Aug crude oil (CLQ15 +0.52%) is up +0.71%, Aug gasoline (RBQ15 +1.78%) is up +1.79%. Metals prices are mixed. Aug gold (GCQ15 +0.32%) is up +0.08%. Sep copper (HGU15 -0.18%) is down -0.10% at a fresh 6-year low. Agricultural prices are weaker.
The dollar index (DXY00 -0.28%) is down -0.180 (-0.19%). EUR/USD (^EURUSD) is up +0.0006 (+0.05%). USD/JPY (^USDJPY) is down -0.89 (-0.73%) at a 1-1/2 month low.

Sep T-note prices (ZNU15 +0.06%) are up +1.5 ticks at a 5-week high as the slump in stocks boosts the safe-haven demand for Treasuries.
Investors trying to get out of Chinese stocks have found that 1,331 companies, or 72% of stocks on mainland exchanges have halted trading as trading curbs make it impossible to sell the stocks. Another 747 companies fell by their 10% limit on Wednesday as buyers were nowhere to be found. That suggests that today's 5.9% plunge in the Shanghai Composite Index was understated. Actions taken by the government thus far have been unable to stabilize the market as the Shanghai Composite has fallen 32% from its 7-1/3 year high on Jun 12.
China Jun passenger-vehicle sales fell -3.2% y/y to 1.43 million units, the first decline in more than 2 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (last week -4.7% with purchase sub-index -4.1% and refi sub-index -5.2%), (2) the Treasury's auction of $21 billion of 10-year T-notes, (3) the minutes of the Jun 16-17 FOMC meeting, (4) a speech by San Francisco Fed President John Williams on the economic outlook to the International Conference of Commercial Bank Economists in Los Angeles, (5) May consumer credit (expected +$18.5 billion after April's +$20.541 billion), and (6) EIA Weekly Petroleum Status Report.
One of the Russell 1000 companies reports earnings today: Alcoa (consensus $0.23).
U.S. IPO's scheduled to price today include: Clovis Oncology (CLVS).
Equity conferences this week: none.

OVERNIGHT U.S. STOCK MOVERS

Navistar (NAV -1.53%) was downgraded to 'Hold' from 'Buy' at BB&T.
Harley-Davidson (HOG +0.37%) was downgraded to 'Sector Perform' from 'Outperform' at RBC Capital.
Reuters reported that JPMorgan Chase (JPM -0.79%) agreed to pay at least $125 million to settle probes that the bank sought to improperly collect and sell consumer credit card data.
W. R. Berkley (WRB +1.80%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
Advance Auto Parts (AAP +0.07%) will replace Family Dollar (FDO +0.05%) in the S&P 500 as of the close of trading today.
St. Jude Medical (STJ +1.38%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo.
Dick's Sporting Goods (DKS +0.13%) was upgraded to 'Outperform' from 'In-Line' at Imperial Capital.
Rolls-Royce (RYCEY -5.32%) was downgraded to 'Neutral' from 'Outperform' at Exane BNP Paribas.
Pearson (PSO -0.16%) was downgraded to 'Sell' from 'Hold' at Berenberg.
Tourbillon reported a 14.9% passive stake in Green Plains Partners (GPP +1.39%) .
Vanda Pharmaceuticals (VNDA -1.91%) announced that the European Commission approved its Hetlioz drug for the treatment of Non-24-Hour Sleep-Wake Disorder in totally blind adults in the European Union.
Novartis' (NVS +0.56%) Entresto drug was approved by FDA for treatment of heart failure.
Gilder, Gagnon, Howe & Co. reported a 13.18% passive stake in Papa Murphy's (FRSH +3.15%) .

MARKET COMMENTS

September E-mini S&Ps (ESU15 -0.75%) this morning are down -13.50 points (-0.65%). Tuesday's closes: S&P 500 +0.61%, Dow Jones +0.53%, Nasdaq +0.243%. The S&P 500 on Tuesday recovered from a 3-1/2 month low and closed higher on supportive factors including hopes that a Greek bailout agreement will be reached by Sunday and the unexpected +29,000 increase in U.S. May JOLTS job openings to 5.363 million, stronger than expectations of 5.300 million and the most since the data series began in 2000. Bearish factors included a plunge in European stocks to a 5-1/2 month low on Grexit concerns and weakness in commodity producers after crude oil dropped to a 3-month low and copper sank to a 5-month low.
Sep 10-year T-notes (ZNU15 +0.06%) this morning are up +1.5 ticks at a new 5-week high. Tuesday's closes: TYU5 +11.50, FVU5 +4.75. Sep T-notes on Tuesday rallied to a 5-week high on (1) safe-haven concerns sparked by Grexit and the Chinese stock market melt-down, and (2) reduced inflation concerns as a plunge in commodity prices pushed the 10-year T-note breakeven inflation rate down to a 3-week low.
The dollar index (DXY00 -0.28%) this morning is down -0.180 (-0.19%). EUR/USD (^EURUSD) is up +0.0006 (+0.05%). USD/JPY (^USDJPY) is down -0.89 (-0.73%) at a 1-1/2 month low. Tuesday's closes: Dollar Index -0.118 (-0.12%), EUR/USD -0.00446 (-0.40%), USD/JPY -0.036 (-0.03%). The dollar index on Tuesday fell back from a 5-week high and closed lower on reduced safe-haven demand after a recovery in U.S. stocks. The dollar posted a 5-week high early in the session on signs of strength in the U.S. labor market that may push the Fed to raise interest rates after U.S. May JOLTS job openings rose to their highest since the data began in 2000.
Aug WTI crude oil (CLQ15 +0.52%) this morning is up +37 cents (+0.71%). Aug gasoline (RBQ15 +1.78%) is up +0.0348 (+1.79%). Tuesday's closes: CLQ5 -0.68 (-1.28%), RBQ5 +0.0257 (+1.32%). Aug crude oil and gasoline Tuesday settled mixed. Crude oil fell to a 3-month low on (1) the EIA's hike in its 2015 U.S. crude production estimate to 9.47 million bpd from a 9.43 million bpd estimate last month, and (2) speculation that a nuclear deal with Iran may be imminent, which would pave the way for at least a doubling of Iranian oil exports.

GLOBAL EVENT CALENDAR07/08/2015

US	0700 ET	Weekly MBA mortgage applications, previous -4.7% with purchase sub-index -4.1% and refi sub-index -5.2%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Treasury auctions $21 billion of 10-year T-notes.
	1400 ET	Minutes of the Jun 16-17 FOMC meeting.
	1400 ET	San Francisco Fed President John Williams speaks on the economic outlook to the International Conference of Commercial Bank Economists in Los Angeles.
	1500 ET	May consumer credit expected +$18.5 billion, Apr +$20.541 billion.
JPN	0030 ET	Japan Jun bankruptcies, May -13.18% y/y.
	0100 ET	Japan Jun eco-watchers survey current expected -0.3 to 53.0, May 53.3. Jun eco-watchers survey outlook expected -0.5 to 54.0. May 54.5
	1950 ET	Japan May machine orders expected -4.9% m/m and +16.7% y/y, Apr +3.8% m/m and +3.0% y/y.
EUR	0500 ET	ECB Executive Board member Benoit Coeure speaks on The International Role of the Euro at an event in Frankfurt.
UK	1901 ET	UK Jun RICS house price balance, May 34%.
CHI	2130 ET	China Jun CPI expected +1.3% y/y, May +1.2% y/y. China Jun PPI expected -4.6% y/y, May -4.6% y/y.

U.S. STOCK CALENDAR07/08/2015

Company	Ticker	Time	Event Description	Period	Estimate
Alcoa Inc	AA US	17:00	Q2 2015 Earnings Call	Q2 2015
United Continental Holdings Inc	UAL US	17:00	June 2015 Sales and Revenue Release - Operational Performance	2015
Alcoa Inc	AA US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	0.226
Costco Wholesale Corp	COST US	Aft-mkt	June 2015 Sales and Revenue Release	2015
Advance Auto Parts Inc	AAP US	Aft-mkt	Advanced Auto Parts Inc. Replaces Family Dollar Stores in S&P 500
Advance Auto Parts Inc	AAP US	Aft-mkt	Jack in the Box Replaces Advanced Auto Parts in S&P MidCap 400
Healthcare Trust of America Inc	HTA US		Annual General Meeting

Healthcare Trust of America - Barchart's Chart of the Day

Healthcare Trust of America (HTA) is the Barchart Chart of the Day.  The Healthcare REIT has a Trend Spotter buy signal, a Weighted Alpha of 35.50+, gained 35.79% in the last year and paid a 4..33% dividend.

The Chart of the Day belongs to Healthcare Trust of America (HTA).  I found the stock by sorting the All Time New High list for the stock having the most frequent new highs in the last month then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a new buy signal on 12/19 the stock gained 1.27%.

Healthcare Trust of America, Inc. is a self-administered real estate investment trust. The Company primarily focuses on medical office buildings, healthcare-related facilities and quality commercial office properties. It also invests to a limited extent in other real estate-related assets. Its portfolio is positioned in metropolitan markets such as Atlanta, GA, Phoenix, AZ, Indianapolis, IN, Greenville, SC, Pittsburgh, PA, Albany, NY, Boston, MA and both Dallas and Houston, TX.

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

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new highs and up 7..83% in the last month
• Relative Strength Index 71.62%
• Barchart computes a technical support level at 26.29
• Recently traded at 27.16 with a 50 day moving average of 25.44

Fundamental factors:

• Market Cap $ 3.25 billion
• P/E 18.85
• Dividend yield 4.33%
• Revenue expected to grow 17.20% this year and another 6.70% next year
• Earnings estimated to increase 14.80% this year, an additional 8.20% next year and continue to compound annually at a rate of 4.00% for the next 5 years
• Wall Street analysts issued 1 strong buy and 7 hold recommendations on the stock.

Use a moving stop loss about 10% off the most recent new high to find your exit point.

BARCHART MORNING CALL 7/9

BARCHART MORNING CALL

Wednesday, July 9th, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU14 +0.06%) this morning are unchanged and European stocks are up +0.14% ahead of the minutes of the Jun 17-18 FOMC meeting. A slide in Portuguese bank stocks is limiting gains in European stocks with Banco Espirito Santo SA, Portugal's second-biggest bank by market value, down nearly 8% and Espirito Santo Financial Group down 11% after payments were missed on some corporate notes. Banque Privee Espirito Santo, a unit of Espirito Santo Financial Group SA, said Tuesday that there was a delay in payments on some short-term debt securities issued by Espirito Santo International. Tuesday's fall in the S&P 500 to a 1-week low undercut Asian stocks that closed lower with Japan's Nikkei Stock Index and China's Shanghai Stock Index at 1-week lows: Japan -0.08%, Hong Kong -1.55%, China -1.46%, Taiwan -0.43%, Australia -1.06%, Singapore -0.24%, South Korea -0.41%, India -0.54%. Commodity prices are mixed. Aug crude oil (CLQ14 -0.11%) is down -0.11%. Aug gasoline (RBQ14 -0.50%) is down -0.49% at a 4-week low. Aug gold (GCQ14 +0.70%) is up +0.73%. Sep copper (HGU14 +0.34%) is up +0.45%. Agriculture and livestock prices are mixed with Dec corn down -0.49% at a contract low and Nov soybeans down -0.56% at a fresh 5-month low. The dollar index (DXY00 +0.03%) is down -0.01%. EUR/USD (^EURUSD) is down -0.02%. USD/JPY (^USDJPY) is up +0.08%. Sep T-note prices (ZNU14 -0.01%) are up +1 tick.
China Jun CPI rose +2.3% y/y, less than expectations of +2.4% y/y. Jun PPI fell -1.1% y/y, slightly more than expectations of -1.0% y/y, but still the slowest pace of decline in 2 years.
UK Jun Halifax house prices fell -0.6% m/m and rose +8.8% 3-months/year-over-year, weaker than expectations of -0.3% m/m and +8.9% 3-months/year-over-year.
The UK Jun BRC shop price index fell -1.8% y/y, a bigger slide than the -1.4% y/y drop in May and the fastest pace of decline since the data series began in 2006.
Japan Jun machine tool orders surged +34.2% y/y, a larger increase than May's +24.1% y/y gain.

U.S. STOCK PREVIEW

The FOMC today will release the minutes from its last meeting on June 17-18. The Treasury today will sell $21 billion of 10-year T-notes. There is one Russell 1000 company that reports earnings today: MSC Industrial (consensus $1.07). Equity conferences during the remainder of this week include: Europe 2020 a Driver to Global Growth? on Tue-Wed.

OVERNIGHT U.S. STOCK MOVERS

American Express (AXP -0.87%) was upgraded to 'Buy' from 'Neutral' at Guggenheim.
Schlumberger (SLB -0.58%) was upgraded to 'Overweight' from 'Neutral' at HSBC.
Louisiana-Pacific (LPX -2.65%) was downgraded to 'Sector Perform' from 'Outperform' at RBC Capital.
BNP Paribas (BNPQY -2.04%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
Deutsche Bank (DB -1.78%) was upgraded to 'Overweight' from 'Neutral' at JPMorgan Chase.
Potash (POT -0.72%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
Marvell (MRVL +0.76%) was downgraded to 'Underperform' from 'Perform' at Oppenheimer.
Broadcom (BRCM +0.05%) was upgraded to 'Outperform' from 'Perform' at Oppenheimer.
British Petroleum (BP -0.46%) was downgraded to 'Hold from 'Buy at Deutsche Bank.
Davidson Kempner Partners reported a 7.89% passive stake in Jason Industries (JASN -0.19%) .
Healthcare Services (HCSG -0.76%) reported Q2 EPS of 20 cents, weaker than consensus of 22 cents.
Bob Evans (BOBE -0.70%) reported Q4 EPS of 48 cents, better than consensus of 41 cents.
Alcoa (AA +0.75%) rose nearly 2% in pre-market trading after it reported Q2 adjusted EPS of 18 cents, well above consensus of 12 cents.
International Paper (IP -0.83%) announced its board has authorized an additional $1.5 billion share buyback program to supplement the $1.5 billion share repurchase program authorized in September 2013.

MARKET COMMENTS

Sep E-mini S&Ps (ESU14 +0.06%) this morning are unch. The S&P 500 index on Tuesday fell to a 1-week low and closed lower. Bearish factors for stocks included (1) negative carry-over from a slide in European stocks to a 1-1/2 month low on European economic concerns after German May exports fell more than expected and after UK manufacturing unexpectedly contracted by the most in 16 months, and (2) valuation concerns with stocks in the S&P 500 trading at 16.5 times projected earnings, above the 5-yr average of 14.3. Closes: S&P 500 -0.70%, Dow Jones -0.69%, Nasdaq -1.19%.
Sep 10-year T-notes (ZNU14 -0.01%) this morning are up +1 tick. Sep 10-year T-note futures prices on Tuesday closed higher. The main bullish factor Tuesday was the slide in stocks which prompted short-covering in Treasuries on increased safe-haven demand for U.S. government debt. Closes: TYU4 +11.50, FVU4 +5.75.
The dollar index (DXY00 +0.03%) this morning is down -0.005 (-0.01%). EUR/USD (^EURUSD) is down -0.0003 (-0.02%). USD/JPY (^USDJPY) is up +0.08 (+0.08%). The dollar index on Tuesday closed lower. Negative factors included (1) weakness in USD/JPY as the fall in the S&P 500 to a 1-week low boosted safe-haven demand for the yen, and (2) the drop in the 10-year T-note yield which reduces the dollar’s interest rate differentials. Strength in EUR/USD was limited on European economic concerns after German May exports fell more than expected. Closes: Dollar index -0.039 (-0.05%), EUR/USD +0.0007 (+0.05%). USD/JPY -0.29 (-0.28%).
Aug WTI crude oil (CLQ14 -0.11%) this morning is down -11 cents (-0.11%). Aug gasoline (RBQ14 -0.50%) is down -0.0146 (-0.49%) at a 4-week low. Aug crude and gasoline prices on Tuesday posted 3-week lows and closed lower. Bearish factors included (1) the slide in stocks, which reduces confidence in the economic outlook and energy demand, and (2) a lack of disruption to oil exports in Iraq, OPEC’s second-largest producer, as militants have so far failed to extend their insurgency to southern Iraq, where 75% of the country’s oil output is located. Losses were limited on expectations that weekly EIA inventory data on Wed will show crude stockpiles fell -2.5 mln bbl. Closes: CLQ4 -0.13 (-0.13%) RBQ4 -0.0181 (-0.61%).

GLOBAL EVENT CALENDAR07/09/2014

US	0700 ET	Weekly MBA mortgage applications, previous -0.2% with purchase sub-index -0.7% and refi sub-index +0.1%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Treasury auctions $21 billion 10-year T-notes.
	1400 ET	Jun 17-18 FOMC meeting minutes.
UK	0300 ET	UK Jun Halifax house prices expected -0.3% m/m and +8.9% y/y 3-mo/year-over-year, May +3.9% m/m and +8.7% 3-mo/year-over-year.
	1901 ET	UK Jun RICS house price balance expected 55%, May 57%.
JPN	1950 ET	Japan Jun PPI expected +0.1% m/m and +4.5% y/y, May +0.3% m/m and +4.4% y/y.
	1950 ET	Japan May tertiary industry index expected +178% m/m, Apr -5.4% m/m.
	1950 ET	Japan May machine orders expected +0.7% m/m and +10.1% y/y, Apr -9.1% m/m and +17.6% y/y.
CHI	n/a	China Jun new yuan loans expected 955.0 billion yuan, May 870.8 billion yuan.
	n/a	China Jun trade balance expected +$36.95 billion, May +$35.92 billion. Jun exports expected +10.4% y/y, May +7.0% y/y. Jun imports expected +6.0% y/y, May -1.6% y/y.

U.S. STOCK CALENDAR07/09/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
MSC Industrial Direct Co Inc	MSM US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	1.066
MSC Industrial Direct Co Inc	MSM US	8:30	Q3 2014 Earnings Call	Q3 2014
Salix Pharmaceuticals Ltd	SLXP US	10:00	Investor Day	Y 2014
Healthcare Trust of America Inc	HTA US		Annual General Meeting

Barchart Morning call 9/11

Barchart Morning Call

BC - Wed Sep 11, 6:43AM CDT

• Article
• Comments (0)

OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 -0.06%) this morning are little changed, down -0.01%, while European stocks are up +0.40%. Asian stocks closed mostly higher: Japan +0.01%, Hong Kong -0.17%, China +0.32%, Taiwan unch, Australia +0.64%, Singapore -0.50%, South Korea +0.45%, India unch. Most global stocks are higher on reduced concern of a U.S. military strike against Syria after President Obama Tuesday night said he will pursue a Russian proposal to have Syria surrender its stockpiles of chemical weapons to international authorities. Commodity prices are mixed. Oct crude oil (CLV13 -0.09%) is down -0.07% and Oct gasoline (RBV13 +0.16%) is up +0.22%. Dec gold (GCZ13 -0.28%) is down -0.28% and Dec copper (HGZ13 +0.46%) is up +0.41%. Agricultural and livestock prices are higher. The dollar index (DXY00 unch) is unch. EUR/USD (^EURUSD) is down -0.09% and USD/JPY (^USDJPY) is down -0.09%. The British pound surged to a 7-month high against the dollar after the UK unemployment rate unexpectedly fell. December T-note prices (ZNZ13 +0.13%) are up +5.5 ticks.
UK Aug jobless claims fell -32,600, a bigger decline than expectations of -21,000, while Jun was revised to show a -36,300 decline, more than the originally reported -29,200. The Aug claimant count rate unexpectedly fell -0.1 to 4.2%, better than expectations of unch at 4.3% and the lowest in 4-1/2 years.
The UK July ILO unemployment rate averaged over 3-months unexpectedly fell -0.1 to 7.7%, better than expectations of unch at 7.8% and matched a 4-year low.
ECB Governing Council member Coene raised concern that Greece will need additional aid when he said that "It's clear that we haven't reached the end of the Greece problem for the moment, and that additional efforts will have to be made, one time for certain, possibly two times."
Japan Q3 BSI business condition large all industry jumped to 12.0 from 5.9 in Q2, the highest since data began in 2004. The Q3 BSI business condition large manufacturing climbed to 15.2 from 5.0 in Q2, the highest since Q3 2009.
The Japan Aug domestic CGPI rose +0.3% m/m and +2.4% y/y, close to expectations of +0.4% m/m and +2.4% y/y, while July was revised upward to +0.6% m/m and +2.3% y/y from the originally reported +0.5% m/m and +2.2% y/y.

U.S. STOCK PREVIEW

The global stock markets are benefiting as the chances recede for a U.S. military attack on Syria with Congressional opposition combined with the new Russian plan for Syria to give up control of its chemical weapons. The focus is shifting to the continuing resolution that is necessary by Oct 1 as House Republican leaders have a plan for getting a continuing resolution through the House, except that Tea Party members of the House are not happy about the plan. The Treasury today will sell $21 billion in 10-year T-notes as this week's $66 billion coupon package continues. There are no major earnings reports today.
Equity conferences during the remainder of this week include the following: Barclays Global Financial Services Conference on Mon-Wed, Morgan Stanley Healthcare Conference on Mon-Wed, Vertical Research Partners Industrial Conference on Mon-Wed, Clinical Trial Supply USA on Tue-Wed, Rodman & Renshaw Health Care Conference on Tue-Wed, DA Davidson & Co Engineering & Construction Conference on Tue-Wed, Robert W Baird and Co Health Care Conference on Tue-Wed, KeyBanc Capital Markets Basic Materials & Packaging Conference on Tue-Wed, Goldman Sachs Global Retailing Conference on Tue-Wed, Deutsche Bank Access Technology Conference on Tue-Wed, RBC Capital Markets Global Industrials Conference on Tue-Wed, Stifel Nicolaus & Co Health Care Conference on Tue-Thu, Biofuels International 2013 Conference on Wed, Credit Suisse Asian Technology Conference on Wed, UBS Global Paper & Forest Products Conference on Thu, UBS Best of Americas Conference on Thu-Fri, Bank of America Merrill Lynch Global Real Estate Conference on Wed-Fri, Bank of America Merrill Lynch Healthcare Conference on Wed-Thu, Goldman Sachs Global Commodities Conference on Wed-Thu, Bank of America Merrill Lynch Media, Communications & Entertainment Conference on Wed-Thu, Barclays Capital CEO Energy - Power Conference on Wed-Thu, Barclays CEO Energy Power Conference on Wed-Thu, CL King & Associates Inc Best Ideas Conference on Wed-Thu, Bank of America Merrill Lynch Canada Mining Conference on Thu, and Bloomberg Canadian Fixed Income Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Morgan Stanley (MS +2.19%) was upgraded to "Buy" from "Neutral" at UBS.
Procter & Gamble (PG -0.27%) was downgraded to "Neutral" from "Buy" at SunTrust.
Nokia (NOK +2.54%) was upgraded to "Buy" from "Neutral" at BofA/Merrill.
Apple (AAPL -2.28%) was downgraded to "Neutral" from "Buy" at BofA/Merrill and was downgraded to "Neutral" from "Outperform" at Credit Suisse.
Brocade (BRCD -0.13%) said it will cut 300 jobs, consolidate facilities, and take $30 million-$40 million in charges in Q4.
Raytheon (RTN +1.37%) was awarded a $136.25 million government contract for MK15 Phalanx Close-In Weapon System upgrades and conversions, system overhauls and associated hardware.
Bloomberg reported that Verizon (VZ +1.22%) plans to sell between $45 billion-$49 billion of debt to finance its acquisition of Vodafone's (VOD -0.99%) stake in Verizon Wireless.
S&P cuts Argentina's debt rating to CCC+ from B- with a Negative Outlook.
Southeastern Asset reported a 11.9% passive stake in News Corp (NWSA +1.41%) .
International Paper (IP +0.24%) announced a $1.5 billion share repurchase plan and raised its quarterly dividend to 35 cents from 30 cents.
Waddell & Reed reported a 10.1% passive stake in Harman (HAR +0.98%) .
Cohen & Steers reported a 10.47% passive stake in Healthcare Trust (HTA -0.09%) .
Restoration Hardware (RH -0.96%) reported Q2 adjusted EPS of 49 cents, stronger than consensus of 43 cents, and raised guidance on fiscal 2013 EPS view to $1.65-$1.70, better than consensus of $1.48.
Select Equity Group reported a 11.7% passive stake in PBF Energy (PBF +0.09%) .
Oxford Industries (OXM +1.35%) reported Q2 adjusted EPS of $1.01, better than consensus of 98 cents, but then lowered guidance on fiscal 2013 EPS view to $2.90-$3.05 from $3.00-$3.15, lower than consensus of $3.12.

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 -0.06%) this morning are down -0.25 of a point (-0.01%). The S&P 500 index on Tuesday rose to a 3-1/2 week high and closed higher. Bullish factors included (1) strong Chinese economic data that boosted global economic prospects after China Aug industrial production climbed +10.4% y/y, the most in 17 months, and after China Aug retail sales rose +13.4% y/y, the fastest pace in 8 months, and (2) hopes that a U.S. attack on Syria will be averted with Russia’s proposal for Syria to relinquish control of its chemical weapons and with no assurance of Congressional approval of a U.S. attack in any case. Closes: S&P 500 +0.73%, Dow Jones +0.85%, Nasdaq 100 +0.48%.
Dec 10-year T-notes (ZNZ13 +0.13%) this morning are up +5.5 ticks. Dec 10-year T-note prices on Tuesday closed lower on reduced safe-haven demand as the S&P 500 rallied to a 3-1/2 week high on strong Chinese economic data and speculation that a Russian proposal for Syria to put its chemical weapons under international control will avert a U.S. military strike. Closes: TYZ3 -13.50, FVZ3 -9.25.
The dollar index (DXY00 unch) this morning is unch. EUR/USD (^EURUSD) is down -0.0012 (-0.09%) and USD/JPY (^USDJPY) is down -0.09 (-0.09%). The dollar index on Tuesday closed slightly higher. The dollar rose on expectations that the Fed will taper QE3 at next week’s FOMC meeting along with weakness in the yen after USD/JPY climbed to a 1-1/2 month high after the minutes of the BOJ’s Aug 7-8 policy meeting showed policy board members said BOJ bond purchases were putting downward pressure on yields and that consumer-price expectations had turned positive. Closes: Dollar index +0.016 (+0.02%), EUR/USD +0.00127 (+0.10%), USD/JPY +0.801 (+0.80%).
Oct WTI crude oil (CLV13 -0.09%) this morning is down -8 cents (-0.07%) and Oct gasoline (RBV13 +0.16%) is up +0.0059 (+0.22%). Oct crude oil and gasoline prices on Tuesday closed lower with Oct gasoline at a 1-month low. The main bearish factor for crude prices was the report that Syria will agree to a Russian proposal that Syria puts its chemical weapons stockpiles under international control, which reduces concern of a U.S. military strike on Syria that could cause wider conflict in the Middle East and possibly disrupt oil shipments. Closes: CLV3 -2.13 (-1.94%), RBV3 -0.0655 (-2.34%).

GLOBAL EVENT CALENDAR09/11/2013

US	0700 ET	Weekly MBA mortgage applications, previous +1.3% with purchase sub-index -0.4% and refi sub-index +2.4%.
	1000 ET	July wholesale inventories expected +0.3%, Jun -0.2%. July wholesales trade sales expected +0.5%, Jun +0.4%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Treasury auctions $21 billion 10-year T-notes.
GER	0200 ET	Revised German Aug CPI (EU harmonized), previous unch m/m and +1.6% y/y.
UK	0430 ET	UK Aug jobless claims change expected -21,000, July -29,200. Aug claimant count rate expected unch at 4.3%, July 4.3%.
	0430 ET	UK July avg weekly earnings expected +1.3% 3-mo/year-over-year, Jun +2.1% 3-mo/year-over-year. July weekly earnings ex-bonus expected +1.0% 3-mo/year-over-year, Jun +1.1% 3-mo/year-over-year.
	0430 ET	UK July ILO unemployment rate expected 7.8% 3-mo, June 7.8% 3-mo.
JPN	1950 ET	Japan July machine orders expected +2.4% m/m and +7.7% y/y, Jun -2.7% m/m and +4.9% y/y.

U.S. STOCK CALENDAR09/11/2013

Company Name	Ticker	Time	Event Description	Period	Estimate
SAIC Inc	SAI US	8:30	Investor Day	Y 2013
Apple Inc	AAPL US	10:00	US Court of Appeals Hears Arguments on Apple vs Motorola Mobility
Google Inc	GOOG US	10:00	US Court of Appeals Hears Arguments on Apple vs Motorola Mobility
Mastercard Inc	MA US	10:00	Investment Community Meeting	Y 2013
Legg Mason Inc	LM US	12:30	Investors and Analysts Meeting	Y 2013
United Parcel Service Inc	UPS US		Roadshow - Baltimore	Y 2013