Morning Call 1/5

Barchart Morning Call

Barchart.com - 51 minutes ago

OVERNIGHT MARKETS AND NEWS

Mar E-mini S&Ps (ESH17 -0.20%) are down -0.03% and European stocks are up +0.14%. U.S. stock futures are being dragged lower by weakness in retailers with Kohl’s down 13% and Macy's down 10% in pre-market trading after both companies cut their 2017 EPS forecasts. Losses were limited as energy producers rose with Feb WTI crude oil (CLG17 +0.79%) up +0.94% after the API reported late Wednesday that U.S. crude supplies fell -7.43 million bbl last week. Feb COMEX gold (GCG17 +0.82%) is up +0.64% at a 3-week high and the German 10-year bund yield climbed to a 2-week high on increased price pressures after Eurozone Nov producer prices posted their first year-on-year increase in more than 3 years. Asian stocks settled mixed: Japan -0.37%, Hong Kong +1.46%, China +0.21%, Taiwan +0.77%, Australia +0.30%, Singapore +1.12%, South Korea -0.43%, India +0.92%. Japan's Nikkei Stock Index closed lower as exporter stocks sold-off after USD/JPY fell to a 3-week low, which reduces exporters' earnings prospects. China's Shanghai Composite climbed to a 3-week high on signs of strength in the Chinese economy after a gauge of growth in the service sector last month expanded at the fastest pace in 17 months.

The dollar index (DXY00 -0.43%) is down -0.31% at a 3-week low. EUR/USD (^EURUSD) is up +0.07%. USD/JPY (^USDJPY) is down -0.43% at a 3-week low.

Mar 10-year T-note prices (ZNH17 +0.13%) are up +3.5 ticks at a 3-week high.

The China Dec Caixin services PMI rose +0.3 to 53.4, the fastest pace of expansion in 17 months.

Eurozone Nov PPI unexpectedly rose +0.1% y/y, stronger than expectations of -0.1% y/y and the first year-on-year increase in 3-1/3 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Dec Challenger job cuts (Nov -13.0% y/y), (2) Dec ADP employment (expected +175,000, Nov +216,000), (3) weekly initial unemployment claims (expected -5,000 to 260,000, previous -10,000 to 265,000) and continuing claims (expected -51,000 to 2.051 million, previous +63,000 to 2.102 million), (4) revised Dec Markit services PMI (prelim-Dec -1.2 to 53.4), (5) Dec ISM non-manufacturing index (expected -0.5 to 56.7, Nov +2.4 to 57.2), (6) EIA Weekly Petroleum Status Report.

Russell 1000 earnings reports today include: Monsanto (consensus $0.02), Walgreens (1.09), Constellation Brands (1.72), RPM International (0.61).

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

Equity conferences this week include: Citi Global Internet, Media and Telecommunications Conference on Tue-Thu, Goldman Sachs CEOs Unplugged Conference on Thu, J.P. Morgan CES Tech Forum on Thu, JP Morgan Chase & Co., Inc. International Tech Forum on Thu.

OVERNIGHT U.S. STOCK MOVERS

Macy's (M +1.73%) sank almost 10% in pre-market trading after it cut its 2017 EPS forecast to $2.95-$3.10 from a prior view of $3.15-$3.40 and said it plans to close 68 stores and cut 6,200 jobs.

Kohl's (KSS +4.22%) tumbled over 13% in pre-market trading after it said comparable same-store sales fell -2.1% y/y in the fiscal months of November and December combined, and then it cut its 2017 adjusted EPS forecast to $3.60-$3.65 from a November 10 estimate of $3.80-$4.00.

Adobe Systems (ADBE +0.64%) was rated a new 'Outperform' at BMO Capital Markets with a target price of $125.

McKesson (MCK +0.78%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase with an 18-month target price of $169.

Helix Energy Solutions Group (HLX +3.53%) sank 10% in after-hours trading after it proposed an offering of 21 million shares of common stock.

Buffalo Wild Wings (BWLD +1.32%) was downgraded to 'Neutral' from 'Outperform' at Wedbush with a price target of $155.

Mistras Group (MG +2.41%) slumped 10% in after-hours trading after it reported Q2 EPS of 26 cents, below consensus of 31 cents.

Kilroy Realty (KRC +1.48%) slid 3% in after-hours trading after it commenced an offering of 3.5 million shares of common stock.

Hudson Pacific Properties (HPP +1.23%) lost 1% in after-hours trading after holders offered 18.7 million shares of stock.

Alexion Pharmaceuticals (ALXN +3.65%) rallied over 3% in after-hours trading after a board audit committee concluded that it sees no need to restate financial results after investigating a claim made by a former employee about Soliris sales and practices.

Moelis (MC +2.65%) fell 4% in after-hours trading after it offered 5 million shares of Class A common stock.

Heron Therapeutics (HRTX +2.99%) dropped nearly 10% in after-hours trading after it forecast 2017 sales of its Sustol nausea treatment drug at $15 million to $25 million, well below consensus of $50 million.

Synergy Pharmaceuticals (SGYP +6.88%) climbed 3% in after-hours trading after it was rated a new 'Outperform' at Oppenheimer with a price target of $10.

Loxo Oncology (LOXO +5.28%) fell over 3% in after-hours trading after it proposed a public offering of common stock, although no amount or size was given.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 -0.20%) this morning are down -0.75 of a point (-0.03%). Wednesday's closes: S&P 500 +0.57%, Dow Jones +0.30%, Nasdaq +0.53%. The S&P 500 on Wednesday closed higher on strength in mining stocks after the price of copper rose +2.7% to a 2-week high and on strength in oil companies after the price of crude oil climbed +1.78%. Auto makers also saw strength after U.S. Dec auto sales soared to 18.29 million units, stronger than expectations of 17.70 million and the most in 11-1/3 years.

Mar 10-year T-notes (ZNH17 +0.13%) this morning are yp +3.5 ticks at a 3-week high. Wednesday's closes: TYH7 unch, FVH7 -0.50. Mar 10-year T-notes on Wednesday closed little changed. T-notes were undercut by weakness in German bunds on increased price pressures after the Eurozone Dec CPI rose more than expected. T-notes recovered their losses after the Dec 13-14 FOMC minutes said that most FOMC policy makers saw a gradual rate hike pace as "appropriate."

The dollar index (DXY00 -0.43%) this morning is down -0.32 (-0.31%) at a 3-week low. EUR/USD (^EURUSD) is up +0.0007 (+0.07%). USD/JPY (^USDJPY) is down -0.51 (-0.43%) at a 3-week low. Wednesday's closes: Dollar index -0.680 (-0.66%), EUR/USD +0.0084 (+0.81%), USD/JPY -0.50 (-0.42%). The dollar index on Wednesday closed lower on strength in EUR/USD after Eurozone Dec CPI rose +1.1% y/y, stronger than expectations of +1.0% y/y and the largest increase in 3-1/4 years, which dampened expectations that the ECB will expand stimulus measures. The dollar was also undercut by the comment in the Dec 13-14 FOMC meeting minutes that most FOMC members saw a gradual rate hike pace as "appropriate."

Feb WTI crude oil prices (CLG17 +0.79%) this morning are up +50 cents (+0.94%) and Feb gasoline (RBG17 -0.13%) is +0.0006 (+0.04%). Wednesday's closes: Feb crude +0.93 (+1.78%), Feb gasoline +0.0170 (+1.05%). Feb crude oil and gasoline on Wednesday closed higher on a weaker dollar and expectations for Thursday's weekly EIA crude inventories to fall -2.00 million bbl.

GLOBAL EVENT CALENDAR01/05/2017

		Thursday, Jan 5
US	0730 ET	Dec Challenger job cuts, Nov -13.0% y/y.
	0815 ET	Dec ADP employment change expected +175,000, Nov +216,000.
	0830 ET	Weekly initial unemployment claims expected -5,000 to 260,000, previous -10,000 to 265,000. Weekly continuing claims expected -51,000 to 2.051 million, previous +63,000 to 2.102 million.
	0945 ET	Revised Dec Markit services PMI, prelim-Dec -1.2 to 53.4.
	1000 ET	Dec ISM non-manufacturing index expected -0.5 to 56.7, Nov +2.4 to 57.2.
	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 Jan 10-12.
		Friday, Jan 6
US	0830 ET	Dec non-farm payrolls expected +180,000, Nov +178,000. Dec private payrolls expected +170,000, Nov +156,000. Dec manufacturing payrolls expected unch, Nov -4,000. Dec unemployment rate expected +0.1 to 4.7%, Nov -0.3 to 4.6%.
	0830 ET	Dec avg hourly earnings expected +0.3% m/m and +2.8% y/y, Nov -0.1% m/m and +2.5% y/y. Dec avg weekly hours all-employees expected unch at 34.4 hours, Nov unch at 34.4 hours.
	0830 ET	Nov trade balance expected -$44.7 billion, Oct -$42.6 billion.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Nov factory orders expected -2.3%, Dec +2.7% and +0.8% ex transportation.
	1215 ET	Chicago Fed President Charles Evans (voter) participates in a NABE and AEA panel discussion titled Responders of First or Last Resort: Central Bank Strategies in an Era of Ultra-Low Interest Rates.
	1300 ET	Richmond Fed President Jeffrey Lacker (non-voter) speaks at the Maryland Bankers Associations Economic Outlook Forum.

U.S. STOCK CALENDAR01/05/2017

Company	Ticker	Time	Event Description	Period	Estimate
RPM International Inc	RPM US	Bef-mkt	Q2 2017 Earnings Release	Q2 2017	0.605
Constellation Brands Inc	STZ US	Bef-mkt	Q3 2017 Earnings Release	Q3 2017	1.718
Walgreens Boots Alliance Inc	WBA US	7:00	Q1 2017 Earnings Release	Q1 2017	1.093
L Brands Inc	LB US	7:30	December 2016 Sales and Revenue Call	2016
Monsanto Co	MON US	8:00	Q1 2017 Earnings Release	Q1 2017	0.017
Walgreens Boots Alliance Inc	WBA US	8:30	Q1 2017 Earnings Call	Q1 2017
Ionis Pharmaceuticals Inc	IONS US	9:30	IONIS-GCGR Rx Phase 2 Study Results Call
Monsanto Co	MON US	9:30	Q1 2017 Earnings Call	Q1 2017
RPM International Inc	RPM US	10:00	Q2 2017 Earnings Call	Q2 2017
Constellation Brands Inc	STZ US	10:30	Q3 2017 Earnings Call	Q3 2017
Gap Inc/The	GPS US	16:15	December 2016 Sales and Revenue Release	2016
L Brands Inc	LB US		December 2016 Sales and Revenue Release	2016

MORNING CALL 1/7

MORNING CALL

Thursday, January 7th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH16 -2.17%) are down sharply by -2.24% at a 3-month low and European stocks are down -3.10% at a 3-1/4 month low after China's stock exchanges closed less than half an hour after opening when they fell 7% and triggered a halt to trading for the second time this week. Chinese stocks tumbled as the PBOC cut its reference rate for the yuan for an eighth straight day, which sent the yuan plunging to a 4-3/4 year low against the dollar as China is attempting to spur economic growth through a weaker yuan. Freeport-McMoRan and Alcoa are both down more than 4% in pre-market trading as the price of copper (HGH16 -2.83%) dropped -3.04% to a 1-1/2 month low, and energy producers are lower as the price of crude oil (CLG16 -3.62%) plummeted -3.15% to a 12-year low. Another negative for stocks was the action by the World Bank to lower its 2016 global growth estimate to 2.9% from a 3.3% estimate in Jun. Asian stocks settled sharply lower: Japan -2.33%, Hong Kong -3.09%, China -7.04%, Taiwan-1.73%, Australia -2.20%, Singapore -2.65%, South Korea -1.14%, India -2.18%.

The dollar index (DXY00 -0.39%) is down -0.47%. EUR/USD (^EURUSD) is up +0.69%. USD/JPY (^USDJPY) is down -0.86% to a 4-1/2 month low.

Mar T-note prices (ZNH16 +0.21%) are up +9.5 ticks at a 2-month high on a flight-to-safety with the plunge in global equity markets.

The PBOC reported that China's foreign exchange reserves shrank by a record $108 billion in Dec, which cut its total foreign-exchange reserves to a 3-year low of $3.33 trillion as the PBOC has burnt through its reserves in an attempt to prop up the yuan.

The World Bank cut its 2016 global growth estimate to 2.9% from a 3.3% estimate in Jun, citing a weaker outlook for the U.S., China, Japan and Russia. The World Bank also cut its 2016 China growth outlook to 6.7% from a 7.0% estimate in Jun.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Dec challenger job cuts (Nov -13.9% y/y), (2) weekly initial unemployment claims (expected -12,000 to 275,000, previous +20,000 to 287,000) and continuing claims (expected +2,000 to 2.200 million, previous +3,000 to 2.198 million), (3) Richmond Fed President Jeffrey Lacker's speech on the 2016 economic outlook at an event hosted by the Great Raleigh Chamber of Commerce, (4) Chicago Fed President Charles Evans' speech on the economic outlook and monetary policy at the Wisconsin Economic Forecast Luncheon.

There are 3 of the Russell 3000 companies that report earnings today: Walgreens Boots Alliance (consensus $0.96), Constellation Brands (1.30), Bed Bath & Beyond (1.09).

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

Equity conferences this week: Citi Global Internet, Media & Telecommunications Conference on Wed-Thu.

OVERNIGHT U.S. STOCK MOVERS

Freeport-McMoRan (FCX -8.05%) and Alcoa (AA -7.12%) are both down more than 4% in pre-market trading as the price of copper dropped -3.04% to a 1-1/2 month low.

Capital One Financial (COF -1.31%) was downgraded to 'Hold' from 'Buy' at Deutsche Bank.

Walgreens Boots Alliance (WBA -1.53%) reported Q1 EPS of $1.03, better than consensus of 96 cents.

Agilent Technologies (A +0.44%) was upgraded to 'Outperform' from 'Market Perform' at Cowen with a price target of $46.

Macy's (M -2.19%) climbed over 2% in after-hours trading after it initially sold-off 5% when it lowered guidance on Q4 EPS to $2.18-$2.23 from a previous estimate of $2.54-$2.64, and then said it will reduce costs by $400 million by closing 36 stores and cutting up to 4,800 jobs in early 2016.

NetApp (NTAP -2.80%) reported that CFO Nick Noviello is leaving the firm to pursue another opportunity and named VP of corporate finance, Jeffrey Bergmann, as interim CFO.

Paycom Software (PAYC +0.34%) was rated a new 'Outperform' at Robert Baird with a 12-month price target of $48.

Resource Connection (RECN -3.45%) fell over 3% in after-hours trading after it reported Q2 EPS of 23 cents, below consensus of 24 cents.

Zumiez (ZUMZ -1.50%) jumped over 10% in after-hours trading after it raised guidance on Q4 EPS to 45 cents-47 cents from a previous estimate of 40 cents-46 cents, above consensus of 43 cents.

Mistras Group (MG -1.74%) surged over 12% in after-hours trading after it reported Q2 EPS of 39 cents, well above consensus of 26 cents.

Globus Medical (GMED +1.92%) slipped over 2% in after-hours trading after it forecast 2016 sales of $583 million, below consensus of $590.4 million.

Clear Channel Outdoor Holdings (CCO +5.56%) climbed over 2% in after-hours trading after Lamar Advertising said it was near an agreement to acquire billboard assets valued at about $450 million from CCO.

MARKET COMMENTS

Mar E-mini S&Ps (ESH16 -2.17%) this morning are down sharply by -44.50 points (-2.24%) to a 3-month low. Wednesday's closes: S&P 500 -1.31%, Dow Jones -1.47%, Nasdaq -0.90%. The S&P 500 on Wednesday dropped to a 3-month low and closed lower on the PBOC's cut in its daily reference rate for the yuan for the seventh day in a row, which stoked Chinese economic concerns that undercut global stocks and pushed the yuan down to a 4-3/4 year low against the dollar. Stocks were also undercut by the unexpected -0.6 point decline in the Dec ISM U.S. non-manufacturing index to 55.3, weaker than expectations of +0.1 to 56.0 and the slowest pace of expansion in 20 months. On the positive side, the Dec ADP employment change rose +257,000, stronger than expectations of +198,000 and the biggest increase in a year.

Mar 10-year T-notes (ZNH16 +0.21%) this morning are up +9.5 ticks to a 2-month high. Wednesday's closes: TYH6 +19.50, FVH6 +12.25. Mar T-notes on Wednesday climbed to a 3-week high and settled higher on increased safe-haven demand with the plunge in global equity markets and on the slide in energy prices, which undercut inflation expectations as the 10-year T-note breakeven inflation rate fell to a 1-week low.

The dollar index (DXY00 -0.39%) this morning is down -0.471 (-0.47%). EUR/USD (^EURUSD) up +0.0074 (+0.69%). USD/JPY (^USDJPY) is down-1.02 (-0.86%) to a 4-1/2 month low. Wednesday's closes: Dollar Index -0.223 (-0.22%), EUR/USD +0.0033 (+0.31%), USD/JPY -0.59 (-0.50%). The dollar index on Wednesday closed lower on (1) the fall in USD/JPY to a 2-1/2 month low after the plunge in global equity markets boosted the safe-haven demand for the yen, and (2) speculation that this week's sell-off in global equity markets may prompt the Fed to delay the next interest rate increase.

Feb crude oil (CLG16 -3.62%) this morning is down -$1.07 a barrel (-3.15%) to a 12-year low and Feb gasoline (RBG16 -1.39%) is down -0.0118(-1.02%) to a fresh 6-3/4 year low. Wednesday's closes: CLG6 -1.91 (-5.31%), RBG6 -0.0932 (-7.42%). Feb crude and gasoline on Tuesday closed sharply lower as Feb crude and Feb gasoline posted 6-3/4 year nearest-futures lows. Crude oil prices were hurt by the +917,000 bbl increase in crude supplies at Cushing to a record high 63.91 million bbl and by the +10.58 million bbl surge in weekly EIA gasoline inventories to a 9-1/2 month high. On the positive side, EIA crude supplies unexpectedly fell -5.09 million bbl versus expectations of +1.0 million bbl.

GLOBAL EVENT CALENDAR01/07/2016

US	0730 ET	Dec challenger job cuts, Nov -13.9% y/y.
	0830 ET	Weekly initial unemployment claims expected -12,000 to 275,000, previous +20,000 to 287,000. Weekly continuing claims expected +2,000 to 2.200 million, previous +3,000 to 2.198 million.
	0830 ET	USDA weekly Export Sales.
	0845 ET	Richmond Fed President Jeffrey Lacker speaks on the 2016 economic outlook at an event hosted by the Great Raleigh Chamber of Commerce.
	1100 ET	Treasury announce amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds (previous $13 billion) to be auctioned Jan 12-14.
	1415 ET	Chicago Fed President Charles Evans speaks on the economic outlook and monetary policy at the Wisconsin Economic Forecast Luncheon.
GER	0200 ET	German Nov factory orders expected +0.1% m/m and +1.1% y/y, Oct +1.8% m/m and -1.4% y/y.
	0200 ET	German Nov retail sales expected +0.5% m/m and +3.7% y/y, Oct -0.1% m/m and +2.1% y/y.
	0300 ET	German Dec Markit construction PMI, Nov 52.5.
UK	0400 ET	UK Dec new car registrations, Nov +3.8% y/y.
EUR	0500 ET	Eurozone Dec economic confidence expected -0.1 to 106.0, Nov 106.1. Dec business climate indicator expected +0.03 to 0.39, Nov 0.36.
	0500 ET	Revised Eurozone Dec consumer confidence, preliminary +0.2 to 5.7.
	0500 ET	Eurozone Nov retail sales expected +0.2% m/m and +2.0% y/y, Oct -0.1% m/m and +2.5% y/y.
	0500 ET	Eurozone Nov unemployment rate expected unch at 10.7%.
JPN	2030 ET	Japan Nov labor cash earnings expected +0.7% y/y, Oct +0.7% y/y. Nov real cash earnings, Oct +0.4% y/y.

U.S. STOCK CALENDAR01/07/2016

Company	Ticker	Time	Event Description	Period	Estimate
Walgreens Boots Alliance Inc	WBA US	7:00	Q1 2016 Earnings Release	Q1 2016	0.957
Signet Jewelers Ltd	SIG US	7:00	December 2015 Sales and Revenue Release	2015
L Brands Inc	LB US	7:30	December 2015 Sales and Revenue Call	2015
Constellation Brands Inc	STZ US	7:30	Q3 2016 Earnings Release	Q3 2016	1.297
Walgreens Boots Alliance Inc	WBA US	8:30	Q1 2016 Earnings Call	Q1 2016
Signet Jewelers Ltd	SIG US	8:30	December 2015 Sales and Revenue Call	2015
Constellation Brands Inc	STZ US	10:30	Q3 2016 Earnings Call	Q3 2016
Bed Bath & Beyond Inc	BBBY US	16:15	Q3 2016 Earnings Release	Q3 2016	1.091
Bed Bath & Beyond Inc	BBBY US	17:00	Q3 2016 Earnings Call	Q3 2016
Gap Inc/The	GPS US		December 2015 Sales and Revenue Release	2015
L Brands Inc	LB US		December 2015 Sales and Revenue Release	2015
Mylan NV	MYL US		Special Meeting
Ameren Corp	AEE US		Investor Meeting	Y 2016
Compass Minerals International Inc	CMP US		Q4 2015 Sales and Revenue Release	Q4 2015

BARCHART MORNING CALL 10/8

BARCHART MORNING CALL

Thursday, October 8th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ15 -0.31%) are down -0.36% and European stocks are down -0.28% after disappointing German export data added to concerns that the global recovery may be weaker than previously thought. German Aug exports fell by the most in 6-1/2 years, although European stocks recovered a good portion of their losses on speculation the weak trade data may spur the ECB into expanding QE. Automakers are also higher, led by a +2.9% increase in Fiat Chrysler Automobiles NV, after the company reached a tentative agreement with the United Auto Workers Union in the U.S. to avert a strike. Asian stocks settled mostly lower: Japan -0.99%, Hong Kong -0.71%, China +2.97%, Taiwan -0.58%, Australia +0.24%, Singapore -0.50%, South Korea +1.03%, India -0.70%. China's Shanghai Composite resumed trade after a week-long holiday and closed up nearly 3% on speculation the government will take additional steps to revive economic growth.

The dollar index (DXY00 -0.27%) is down % at a 2-week low. EUR/USD (^EURUSD) is up +0.53%. USD/JPY (^USDJPY) is down -0.17%.

Dec T-note prices (ZNZ15 +0.10%) are up +4.5 ticks.

As expected, the BOE maintained its benchmark interest rate at 0.50% and kept its asset purchase target at 375 billion pounds following today's policy meeting.

The German Aug trade balance shrank to a surplus of 15.3 billion euros, less than expectations of 19.0 billion euros and the smallest surplus in a year. Aug exports fell -5.2% m/m, a bigger drop than expectations of -0.9% m/m and the largest decline in 6-1/2 years. Aug imports fell -3.1% m/m, a bigger drop than expectations of -0.6% m/m and the largest decline in 2-3/4 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected -3,000 to 274,000, previous +10,000 to 277,000) and continuing claims (expected +9,000 to 2.200 million, previous 53,000 to 2.191 million), (2) the minutes of the Sep 16-17 FOMC meeting, (3) the Treasury's auction of $13 billion of 30-year T-bonds, (4) welcoming remarks by Minneapolis Fed President Narayana Kocherlakota followed by a forum at the Greater Mankato Growth Event at Minnesota State University, and (5) San Francisco Fed President John Williams' speech on the economic outlook to the Spokane Metropolitan Area Business and Community Leaders’ Luncheon.

There are 2 of the Russell 2000 companies report earnings today: Alcoa (consensus $0.13), Domino's Pizza (0.74).

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

Equity conferences during the remainder of this week include: Goldman Sachs EMEA Leveraged Finance Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Domino's Pizza (DPZ +0.72%) reported Q3 adjusted EPS of 67 cents, below consensus of 76 cents.

Fiat Chrysler Automobiles NV (FCAU +4.00%) rose 1.5% in pre-market trading after the company reached a tenative agreement with the United Auto Workers Union in the U.S. to avert a strike.

EMC Corp. (EMC +0.58%) jumped nearly 7% in pre-market trading after people familiar with the matter said Dell is in talks to combine with all or part of the company.

AmSurg (AMSG +2.73%) rose over 1% in after-hours trading after it was announced it will replace Con-way in the S&P Midcap 400 effective the close of trading Oct 14.

Newtek Business Services (NEWT -2.00%) dropped 3% in after-hours trading after it said it plans to make a public offering of 2 million shares of common stock.

Mistras Group (MG +3.04%) jumped 16% in after-hours trading after it reported Q1 adjusted EPS of 23 cents, more than double consensus of 9 cents.

Chemours (CC -4.14%) surged over 15% in after-hours trading after Apollo Global Management LLC said it was mulling a buyout of the company.

Tilly's (TLYS +1.56%) climbed nearly 3% in after-hours trading after it announced that Dan Griesemer resigned as CEO and Ed Thomas, ex-CEO of Wet Seal, will replace him as new CEO.

Zumiez (ZUMZ +4.05%) rose over 7% in after-hours trading after it reported that total net sales for the five weeks ended Oct 3 grew +1.5% y/y to 67.3 million.

Journal Media Group (JMG +5.46%) jumped 8% in after-hours trading after Gannet said it was near a deal to buy the company for $300 million.

Deutsche Bank (DB +1.37%) fell nearly 6% in after-hours trading after it said it expects a surprise Q3 loss of 6.2 billion euros ($7 billion) after writing down the value of its two biggest divisions and boosting its reserve for legal costs. Prices recovered, however, and are now up nearly 1% in pre-market trading on speculation the potential elimination of the company's dividend may allow it to overhaul its structure and increase capital without issuing additional stock.

Cardiovascular Systems (CSII -1.36%) slumped over 15% in after-hours trading after the company reported preliminary Q1 revenue of $43.9 million, below consensus of $49.4 million, and said it sees a loss of -41 cents to -43 cents a share, a bigger loss than consensus of -39 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 -0.31%) this morning are down -7.25 points (-0.36%). Wednesday's closes: S&P 500 +0.80%, Dow Jones +0.73%, Nasdaq +0.62%. The S&P 500 on Wednesday rose to a 2-1/2 week high and closed higher on a rally in miners and metals producers as the price of copper rose to a 2-week high and after Morgan Stanley upgraded the sectors to "Attractive." In addition, there was M&A activity after Anheuser-Busch InBev NV raised its offer for SABMiller to $104 billion. Stocks fell back from earlier highs as energy producers declined on a sell-off in crude oil prices on the bearish weekly EIA data.

Dec 10-year T-notes (ZNZ15 +0.10%) this morning are up +4.5 ticks. Wednesday's closes: TYZ5 -7.00, FVZ5 -5.75. Dec T-note prices on Wednesday closed lower on the rally in stock prices, an increase in the 10-year T-note breakeven inflation rate to a 2-week high, and supply pressures as the Treasury auctioned $21 billion of 10-year T-notes and auctions $13 billion of 30-year T-bonds on Thursday.

The dollar index (DXY00 -0.27%) this morning is down -0.273 (-0.29%) at a 2-week low. EUR/USD (^EURUSD) is up +0.0059 (+0.53%). USD/JPY (^USDJPY) is down -0.21 (-0.17%). Wednesday's closes: Dollar Index +0.042 (+0.04%), EUR/USD -0.0035 (-0.31%), USD/JPY -0.22 (-0.18%). The dollar index on Wednesday closed slightly higher on an increase in U.S. inflation expectations after the 10-year T-note breakeven inflation rate climbed to a 2-week high, and weakness in EUR/USD on speculation the ECB may expand easing measures after German Aug industrial production unexpectedly fell-1.2%, the biggest decline in a year. GBP/USD rallied to a 2-week high after UK Aug industrial production rose +1.0% m/m, the largest increase in 18 months. USD/JPY saw weakness as the yen strengthened after the BOJ refrained from additional stimulus measures following the 2-day policy meeting.

Nov crude oil (CLX15 +0.59%) this morning is up +9 cents (+0.19%) and Nov gasoline (RBX15 -0.04%) is down -0.0059 (-0.42%). Wednesday's closes: CLX5 -0.72 (-1.48%), RBX5 -0.0327 (-2.28%). Nov crude oil and gasoline prices closed lower on Wednesday with Nov crude retreating from a 2-1/2 month nearest futures high. The weekly EIA report was bearish due to the +3.07 million bbl increase in weekly EIA crude inventories (vs expectations of +2.25 million bbl), the +98,000 bbl increase in crude supplies at Cushing, the first increase in 6 weeks, and the +0.8% increase in U.S. crude production to 9.172 million bpd in the week ended Oct 2.

GLOBAL EVENT CALENDAR10/08/2015

US	0830 ET	Weekly initial unemployment claims expected -3,000 to 274,000, previous +10,000 to 277,000. Weekly continuing claims expected +9,000 to 2.200 million, previous 53,000 to 2.191 million.
	0830 ET	USDA weekly Export Sales.
	1300 ET	Treasury auctions $13 billion of 30-year T-bonds.
	1300 ET	Minneapolis Fed President Narayana Kocherlakota gives welcoming remarks followed by a forum at the Greater Mankato Growth Event at Minnesota State University.
	1400 ET	Minutes of the Sep 16-17 FOMC meeting.
	1530 ET	San Francisco Fed President John Williams delivers a speech on the economic outlook to the Spokane Metropolitan Area Business and Community Leaders Luncheon.
JPN	0030 ET	Japan Sep bankruptcies, Aug -13.06% y/y.
	0100 ET	Japan Sep eco-watchers survey current expected -0.3 to 49.0, Aug 49.3. Sep eco-watchers survey outlook expected +0.1 to 48.3, Aug 48.2.
GER	0200 ET	German Aug trade balance expected +19.0 billion euros, Jul +25.0 billion euros. Aug exports expected -0.9% m/m, Jul +2.5% m/m. Aug imports expected -0.6% m/m, Jul +2.3% m/m.
	0200 ET	German Aug current account balance expected +16.7 billion euros, Jul+23.4 billion euros.
UK	0700 ET	BOE announces interest rate decision and asset purchase target, expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.

U.S. STOCK CALENDAR10/08/2015

Company	Ticker	Time	Event Description	Period	Estimate
L Brands Inc	LB US	7:30	September 2015 Sales and Revenue Release - Sales Report	2015
L Brands Inc	LB US	7:30	September 2015 Sales and Revenue Call	2015
Domino's Pizza Inc	DPZ US	7:30	Q3 2015 Earnings Release	Q3 2015	0.739
Leucadia National Corp	LUK US	9:00	Investor Meeting	Y 2015
Domino's Pizza Inc	DPZ US	10:00	Q3 2015 Earnings Call	Q3 2015
Franklin Resources Inc	BEN US	12:00	Annual General Meeting	Y 2015
Alcoa Inc	AA US	17:00	Q3 2015 Earnings Call	Q3 2015
United Continental Holdings Inc	UAL US	17:00	September 2015 Sales and Revenue Release - Operational Performance	2015
Alcoa Inc	AA US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.128
Gap Inc/The	GPS US		September 2015 Sales and Revenue Release	2015
RPM International Inc	RPM US		Annual General Meeting	Y 2015
Xcel Energy Inc	XEL US		Investor Meeting - Day 3	Y 2015
General Motors Co	GM US		General Motors Deposition of CEO, Mary Barra, in Inition-Switch Defect Case