Morning Call 10/19

Barchart Morning Call

Barchart.com - Thu Oct 19, 6:40AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.44%) this morning are down -0.51% at a 1-week low and European stocks are down -0.80% at a 2-week low as rising tensions between Spain and Catalonia spurs liquidation in equities and pushed the VIX volatility index up to a 5-week high. In a response to a Thursday deadline set by Spain for the state of Catalonia to renounce its claims to independence, Catalan President Puigdemont said his state may declare independence from Spain unless the government in Madrid agrees to talks. Spanish Prime Minster Rajoy said the Spanish government will start the process of taking direct control of the Catalan regional administration under Article 155 of Spain's Constitution unless the Catalan government steps back from its push for independence. A slide in Apple suppliers is also weighing on technology stocks after the Taipei-based Economic Daily reported that Apple has cut orders linked to its iPhone 8 models by as much as 50% over the rest of the year due to lukewarm reception for its newest model. Asian stocks settled mixed: Japan +0.40%, Hong Kong -1.92%, China -0.34%, Taiwan +0.37%, Australia +0.10%, Singapore +0.18%, South Korea -0.59%, India closed for holiday. China's Shanghai Composite fell to a 1-week low on disappointment that a 3-hour speech by Chinese President Xi Jinping at China's 19th Communist Party Congress failed to provide details to support the market. The rally in Japanese stocks continues as the Nikkei Stock Index rose to a 21-year year ahead of Sunday's elections in Japan where Prime Minister Abe's party is expected to win in a landslide. 

The dollar index (DXY00 -0.16%) is down -0.16%. EUR/USD (^EURUSD) is up +0.32%. USD/JPY (^USDJPY) is down -0.43%.

Dec 10-year T-note prices (ZNZ17 +0.16%) are up +7 ticks.

The Japan Sep trade balance widened to a surplus of +670.2 billion yen. larger than expectations of +556.8 billion yen. Sep exports rise +14.1% y/y, weaker than expectations of +15.0% y/y. Sep imports rose +12.0% y/y, weaker than expectations of +14.7% y/y.

China Q3 GDP rose +6.8% y/y, right on expectations.

China Sep industrial production rose +6.6% y/y, stronger than expectations of +6.5% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected -3,000 to 240,000, previous -15,000 to 243,000) and continuing claims (expected +1,000 to 1.890 million, previous -32,000 to 1.889 million), (2) Oct Philadelphia Fed business outlook survey (expected -1.8 to 22.0, Sep +4.9 to 23.8), (3) Sep leading indicators (expected +0.1%, Aug +0.4%), (4) Treasury auctions $5 billion of 30-year TIPS, and (5) USDA weekly Export Sales.

Notable S&P 500 earnings reports today include: PayPal (consensus $0.44), PPG (1.52), Quest Diagnostics (1.33), Genuine Parts (1.28), Verizon (0.98), Danaher (0.95), Bank of New York Mellon (0.92), Nucor (0.78), Textron (0.62), Dish Network (0.62), ETrade (0.51), Travelers (0.39), KeyCorp (0.35), People's United Financial (0.25).

U.S. IPO's scheduled to price today: Sea Ltd (SE), Mosaic Acquisition (MOSC/U), RISE Education Cayman (REDU).

Equity conferences this week: BIO Investor Forum on Tue, METALCON Conference on Thu, SAP Retail Executive Forum on Thu, American Association for the Study of Liver Diseases Liver Meeting on Fri.

OVERNIGHT U.S. STOCK MOVERS

Nike (NKE +0.58%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.

Grainger (GWW +1.65%) may open lower this morning after it was downgraded to 'Sell' from 'Neutral' at UBS with a price target of $195.

Jazz Pharmaceuticals Plc (JAZZ -0.03%) was initiated at a 'Buy' at FBR Capital Markets with a 12-month target price of $206.

Sprint (S -0.56%) was downgraded to 'Neutral' from 'Outperform' at Macquarie.

Adobe Systems (ADBE +1.74%) jumped 8% in after-hours trading after it said it sees fiscal 2018 adjusted EPS of $5.50, better than consensus of $5.20.

eBay (EBAY +1.28%) slid 5% in after-hours trading after it said it sees Q4 adjusted EPS from continuing operations of 57 cents-59 cents, weaker than consensus of 60 cents.

Pattern Energy (PEGI unch) slid 4% in after-hours trading after it said it expects its Q3 operating loss to be materially and substantially greater than a year ago due to hurricanes this fall.

Supernus Pharmaceuticals (SUPN +0.49%) was initiated at a 'Buy' at FBR Capital Markets with a 12-month target price of $53.

Ignyta (RXDX +13.24%) fell nearly 4% in after-hours trading after it announced that it had commenced an underwritten public offering of $125 million is shares of its common stock.

Limelight Networks (LLNW +2.75%) rallied 10% in after-hours trading after it raised its 2017 revenue estimate to $182 million-$185 million from a July 26 estimate of $180 million-$182 million.

Earthstone Energy (ESTE -1.40%) dropped over 7% in after-hours trading after it announced that it had commenced an underwritten public offering of 4.5 million shares of its Class A common stock.

Evoke Pharma (EVOK -3.68%) was initiated at a 'Buy' at FBR Capital Markets with a 12-month target price of $10.

Conatus Pharmaceuticals (CNAT +0.98%) jumped almost 7% in after-hours trading after it said the European Medicines Agency granted orphan designation to CNAT's drug candidate IDN-7314 for the treatment of primary sclerosing cholangitis.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.44%) this morning are down -13.00 points (-0.51%) at a 1-week low. Wednesday's closes: S&P 500 +0.07%, Dow Jones +0.70%, Nasdaq -0.13%. The S&P 500 on Wednesday rose to a new record high and settled higher on a rally in technology stocks led by an 8% jump in shares of IBM after it reported stronger-than-expected Q3 EPS. Stocks were also boosted by the Fed Beige Book saying that U.S. economic activity from Sep through Oct 6 increased even amid "major disruptions" across the South from hurricanes. Stocks were undercut by weakness in housing stocks after U.S. Sep housing starts fell -4.7% to 1.127 million, weaker than expectations of -0.4% to 1.175 million and a 1-year low.

Dec 10-year T-note prices (ZNZ17 +0.16%) this morning are up +7 ticks. Wednesday's closes: TYZ7 -9.50, FVZ7 -4.25. Dec 10-year T-notes on Wednesday fell to a 1-week low and closed lower on comments from New York Fed President Dudley who said the Fed is on path to deliver three Fed rate hikes this year as forecast, which implies a third rate hike in December.

The dollar index (DXY00 -0.16%) this morning is down -0.149 (-0.16%). EUR/USD (^EURUSD) is up +0.0038 (+0.32%) and USD/JPY (^USDJPY) is down -0.48 (-0.43%). Wednesday's closes: Dollar Index -0.123 (-0.13%), EUR/USD +0.0021 (+0.18%), USD/JPY +0.74 (+0.66%). The dollar index on Wednesday fell back from a 1-week high and closed lower on the weaker-than-expected U.S. Sep housing starts and building permits report. In addition, EUR/USD rebounded from a 1-week low on hopes for some resolution of the independence movement in Catalonia ahead of Thursday's deadline for a response from Catalonia's president on whether or not the region has declared independence.

Nov crude oil (CLX17 -1.25%) this morning is down -61 cents (-1.17%) and Nov gasoline (RBX17 -0.62%) is -0.0072(-0.44%). Wednesday's closes: Nov WTI crude +0.16 (+0.31%), Nov gasoline +0.0128 (+0.79%). Nov crude oil and gasoline on Wednesday closed higher on -5.731 million bbl drop in EIA crude inventories to a 1-3/4 year low, a bigger draw than expectations of -3.0 million bbl, and on the -11.3% plunge in U.S. crude production in the week of Oct 13 to to a 3-1/3 year low of 8.406 million bpd due to Hurricane Nate.

Metals prices this morning are mixed with Dec gold (GCZ17 +0.37%) +5.4 (+0.42%), Dec silver (SIZ17 +0.31%) +0.078 (+0.46%) and Dec copper (HGZ17 -0.65%) -0.021 (-0.66%). Wednesday's closes: Dec gold -3.2 (-0.25%), Dec silver -0.044(-0.26%), Dec copper -0.0175 (-0.55%). Metals on Wednesday closed lower with Dec gold and Dec silver at 1-week lows. Metals prices were undercut by the rally in the S&P 500 to a new record high, which reduced safe-haven demand for precious metals, and by signs of weaker copper demand after U.S. Sep housing starts and building permits fell more than expected.

GLOBAL EVENT CALENDAR10/19/2017

		Thursday, Oct 19
US	0830 ET	Weekly initial unemployment claims expected -3,000 to 240,000, previous -15,000 to 243,000. Weekly continuing claims expected +1,000 to 1.890 million, previous -32,000 to 1.889 million.
	0830 ET	Oct Philadelphia Fed business outlook survey expected -1.8 to 22.0, Sep +4.9 to 23.8.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Sep leading indicators expected +0.1%, Aug +0.4%.
	1100 ET	Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Oct 24-26
	1300 ET	Treasury auctions $5 billion of 30-year TIPS.
		Friday, Oct 20
US	1000 ET	Sep existing home sales expected -0.9% to 5.30 million, Aug -1.7% to 5.35 million.
	1400 ET	Cleveland Fed President Loretta Mester (non-voter) takes part in a panel discussion on the global regulatory structure at a global finance and technology conference in New York.
	1500 ET	USDA Sep Cattle on Feed.
	1930 ET	Fed Chair Janet Yellen speaks at the National Economists Club in Washington D.C.

U.S. STOCK CALENDAR10/19/2017

Name	Ticker	Time	Description	Period	Estimate
BB&T Corp	BBT US	05:45	Q3 2017 Earnings Release	Q3 17	0.781
Danaher Corp	DHR US	06:00	Q3 2017 Earnings Release	Q3 17	0.953
KeyCorp	KEY US	06:30	Q3 2017 Earnings Release	Q3 17	0.353
Textron Inc	TXT US	06:30	Q3 2017 Earnings Release	Q3 17	0.621
Snap-on Inc	SNA US	06:30	Q3 2017 Earnings Release	Q3 17	2.421
Bank of New York Mellon Corp/The	BK US	06:30	Q3 2017 Earnings Release	Q3 17	0.923
Quest Diagnostics Inc	DGX US	06:45	Q3 2017 Earnings Release	Q3 17	1.333
PPG Industries Inc	PPG US	06:51	Q3 2017 Earnings Release	Q3 17	1.522
Travelers Cos Inc/The	TRV US	06:57	Q3 2017 Earnings Release	Q3 17	0.391
Dover Corp	DOV US	07:00	Q3 2017 Earnings Release	Q3 17	1.123
Philip Morris International Inc	PM US	07:00	Q3 2017 Earnings Release	Q3 17	1.384
Verizon Communications Inc	VZ US	07:30	Q3 2017 Earnings Release	Q3 17	0.975
Alliance Data Systems Corp	ADS US	07:30	Q3 2017 Earnings Release	Q3 17	5.02
Danaher Corp	DHR US	08:00	Q3 2017 Earnings Call	Q3 17
BB&T Corp	BBT US	08:00	Q3 2017 Earnings Call	Q3 17
Textron Inc	TXT US	08:00	Q3 2017 Earnings Call	Q3 17
Bank of New York Mellon Corp/The	BK US	08:00	Q3 2017 Earnings Call	Q3 17
Verizon Communications Inc	VZ US	08:30	Q3 2017 Earnings Call	Q3 17
Quest Diagnostics Inc	DGX US	08:30	Q3 2017 Earnings Call	Q3 17
Genuine Parts Co	GPC US	08:30	Q3 2017 Earnings Release	Q3 17	1.283
Alliance Data Systems Corp	ADS US	08:30	Q3 2017 Earnings Call	Q3 17
KeyCorp	KEY US	09:00	Q3 2017 Earnings Call	Q3 17
Travelers Cos Inc/The	TRV US	09:00	Q3 2017 Earnings Call	Q3 17
Nucor Corp	NUE US	09:00	Q3 2017 Earnings Release	Q3 17	0.782
Philip Morris International Inc	PM US	09:00	Q3 2017 Earnings Call	Q3 17
Dover Corp	DOV US	10:00	Q3 2017 Earnings Call	Q3 17
Snap-on Inc	SNA US	10:00	Q3 2017 Earnings Call	Q3 17
United Continental Holdings Inc	UAL US	10:30	Q3 2017 Earnings Call	Q3 17
Crown Castle International Corp	CCI US	10:30	Q3 2017 Earnings Call	Q3 17
Genuine Parts Co	GPC US	11:00	Q3 2017 Earnings Call	Q3 17
United Rentals Inc	URI US	11:00	Q3 2017 Earnings Call	Q3 17
DISH Network Corp	DISH US		Q3 2017 Earnings Release	Q3 17	0.619
Alliant Energy Corp	LNT US		Roadshow
SL Green Realty Corp	SLG US	14:00	Q3 2017 Earnings Call	Q3 17
PPG Industries Inc	PPG US	14:00	Q3 2017 Earnings Call	Q3 17
Nucor Corp	NUE US	14:00	Q3 2017 Earnings Call	Q3 17
MetLife Inc	MET US	14:30	Extraordinary Shareholders Meeting
Intuitive Surgical Inc	ISRG US	Aft-mkt	Q3 2017 Earnings Release	Q3 17	1.992
People's United Financial Inc	PBCT US	16:00	Q3 2017 Earnings Release	Q3 17	0.253
PayPal Holdings Inc	PYPL US	16:05	Q3 2017 Earnings Release	Q3 17	0.435
E*TRADE Financial Corp	ETFC US	16:05	Q3 2017 Earnings Release	Q3 17	0.509
Intuitive Surgical Inc	ISRG US	16:30	Q3 2017 Earnings Call	Q3 17
PayPal Holdings Inc	PYPL US	17:00	Q3 2017 Earnings Call	Q3 17
People's United Financial Inc	PBCT US	17:00	Q3 2017 Earnings Call	Q3 17
E*TRADE Financial Corp	ETFC US	17:00	Q3 2017 Earnings Call	Q3 17

MORNING CALL 9/27

Barchart Morning Call

Barchart.com - Wed Sep 27, 6:36AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 +0.18%) this morning are up +0.14%, the dollar index rallied to a 1-month high and the 10-year T-note yield jumped to a 1-3/4 month high of 2.299% as details of President Trump’s tax plan emerge. The President will announce the details of his plan later today in Indiana, but people with knowledge of the plan said the rate on corporations will be set at 20%, down from the current 35%, and businesses would be allowed to immediately write off their capital spending for at least 5-years. The top tax rate for individuals will be cut to 35%, but the plan leaves it up to Congress to decide whether to create a higher bracket for those at the top of the income sale. European stocks are up +0.51% at a 2-3/4 month high, led by a rally in exporter companies, as EUR/USD tumbled to a 5-week low, which boosts the earnings prospects of exporters. Asian stocks settled mixed: Japan -0.31%, Hong Kong +0.47%, China +0.05%, Taiwan +0.68%, Australia -0.12%, Singapore +0.75%, South Korea -0.15%, India -1.39%. Chinese stocks eked out a small gain after China Aug industrial profits posted their largest gain in 4-years, while Japan's Nikkei Stock Index fell to a 1-week low, although losses were limited after USD/JPY climbed to a 2-1/4 month high and gave a boost to exporters.

The dollar index (DXY00 +0.51%) is up +0.42% at a 1-month high. EUR/USD (^EURUSD) is down -0.41% at a 5-week low. USD/JPY (^USDJPY) is up +0.61% at a 2-1/4 month high.

Dec 10-year T-note prices (ZNZ17 -0.38%) are down ticks -15.5 at a 2-1/2 month nearest-futures low as details of President Trump's tax plan are revealed.

Eurozone Aug M3 money supply rose +5.0% y/y, stronger than expectations of +4.6% y/y and the largest increase in 5 months.

UK Sep CBI retailing reported sales jumped to 42, stronger than expectations of 8 and the highest in 2 years.

China Aug industrial profits rose +24.0% y/y, the largest increase in 4 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -9.7% with purchase sub-index -10.8%and refi sub-index -8.5%), (2) Aug durable goods orders (expected +1.0% and +0.3% ex-transportation, Jul -6.8% and +0.6 ex-transportation), (3) Aug pending home sales (expected -0.5%, Jul -0.8% m/m and -0.5% y/y), (4) the Treasury auctions $13 billion of 2-year floating rate and $34 billion 5-year T-notes, (5) St. Louis Fed President James Bullard (non-voter) speaks on the U.S. economy and monetary policy at Truman State University in Kirksville, MO, (6) Boston Fed President Eric Rosengren (non-voter) speaks to eh Money Marketeers of NYU, (7) EIA weekly Petroleum Status Report.

Notable Russell 1000 earnings reports today include: Thor Industries (1.96), Jabil (0.61).

U.S. IPO's scheduled to price today: Roku (ROKU), NuCana PLC (NCNA), Deciphera Pharmaceuticals (DCPH), Nightstar Therapeutics (NITE).

Equity conferences this week: Wolfe Research Conference on Tue-Thu, Deutsche Bank Energy Conference on Wed, Barrington Research Fall Investment Conference on Wed, Bernstein Pan European Strategic Decisions Conference on Wed, LEERINK Partners Rare Disease & Immuno-Oncology Conference on Wed-Thu, B. Riley Consumer Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Amazon.com (AMZN -0.13%) was resumed wth an 'Outperform' at Wells Fargo Securities awith a price target of $1,400.

Darden Restaurants (DRI -6.53%) was upgraded to 'Outperform' from 'Neutral' at Baird with a 12-month target price of $94.

Six Flags Entertainment (SIX +0.43%) gained 3% in after-hours trading when it was announced that it will replace Parexel International in the S&P MidCap 400 prior to the open of trading on Monday, October 2.

KEMET (KEM unch) rose 4% in after-hours trading when it was announced that it will replace Astoria Financial in the S&P SmallCap 600 prior to the open of trading on Monday, October 2.

Nike (NKE +0.88%) fell 3% in after-hours trading after it reported Q1 revenue of $9.07 billion, below consensus of $9.09 billion, citing declining growth in North America.

Micron Technology (MU -1.98%) rose over 2% in after-hours trading after it reported Q4 adjusted EPS of $2.02, stronger than consensus of $1.84, and then said it sees Q1 adjusted EPS of $2.09 to $2.33, above consensus of $1.84.

Cintas (CTAS -0.56%) climbed almost 3% in after-hours trading after it reported Q1 revenue of $1.61 billion, higher than consensus of $1.57 billion, and then said it sees full-year revenue of $6.33 billion-$6.40 billion, the midpoint above consensus of $6.33 billion.

Ascendis Pharma A/S (ASND +2.68%) dropped 4% in after-hours trading after it announced that it had commenced an underwritten public offering of $125 million of American Depository Shares, each of which represents one ordinary share of Ascendis.

Westlake Chemical Partners LP (WLKP +0.63%) slid 8% in after-hours trading after 4.5 common units were offered after the close of trading via UBS, Citi, Barclays and Bank of America/Merrill Lynch that were a 6.64% to 8.71% discount to Tuesday's closing price of $24.10.

Editas Medicine (EDIT -3.93%) rose 3% in after-hours trading after its EDIT-101 drug to treat Congenital Amaurosis type 10 received orphan medicinal product designation from the European Medicines Agency.

Intra-Cellular Therapies (ITCI -2.88%) dropped 7% in after-hours trading after it announced that it had commenced an underwritten public offering of $150 million in shares of its common stock.

Twitter (TWTR -2.30%) gained almost 2% in after-hours trading after it said it will test a new 280-character limit on tweets.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.18%) this morning are up +3.50 points (+0.14%). Tuesday's closes: S&P 500 +0.01%, Dow Jones -0.05%, Nasdaq +0.24%. The S&P 500 on Tuesday closed little changed. Stocks were undercut by the weaker-than-expected U.S. Aug new home sales report of -3.4% to an 8-month low of 560,000 and by hawkish comments from Fed Chair Yellen that signal she favors a Dec rate hike when she warned that the Fed should be "wary of moving too gradually" on raising interest rates and that "it would be imprudent to keep monetary policy on hold until inflation is back to 2.0%." Stocks were supported by President Trump's statement that he will unveil a "big announcement" on tax reform Wednesday.

Dec 10-year T-note prices (ZNZ17 -0.38%) this morning are down -15.5 ticks at a 2-1/2 month nearest-futures low. Tuesday's closes: TYZ7 -2.00, FVZ7 -1.50. Dec 10-year T-notes on Tuesday closed lower on comments from Fed Chair Yellen who warned that the Fed must avoid "moving too gradually" on raising interest rates. In addition, Atlanta Fed President Bostic said he is "pretty comfortable" with Dec Fed rate hike.

The dollar index (DXY00 +0.51%) this morning is up +0.392 (+0.42%) at a 1-month high. EUR/USD (^EURUSD) is down -0.0048 (-0.41%) at a 5-week low and USD/JPY (^USDJPY) is up +0.68 (+0.61%) at a 2-1/4 month high. Tuesday's closes: Dollar Index +0.318 (+0.34), EUR/USD -0.0055 (-0.46%), USD/JPY +0.51 (+0.46%). The dollar index on Tuesday climbed to a 3-week high and closed higher on hawkish comments from Fed Chair Yellen who warned that the Fed should be "wary of moving too gradually" on raising interest rates. There was also weakness in EUR/USD which tumbled to a 1-month low on concern German Chancellor Merkel may have a tough time forming a coalition government after Sunday's weaker-than-expected showing for her CDU party in the German elections.

Nov crude oil (CLX17 +0.13%) this morning is up +2 cents (+0.04%) and Nov gasoline (RBX17 -0.93%) is -0.0190 (-1.15%). Tuesday's closes: Nov WTI crude -0.34 (-0.65%), Nov gasoline -0.0183 (-1.10%). Nov crude oil and gasoline on Tuesday closed lower on the rally in the dollar index to a 3-week high and on expectations for Wednesday's EIA crude inventories to climb +2.5 million bbl, their fourth straight increase.

Metals prices this morning are mixed with Dec gold (GCZ17 -0.68%) -9.1 (-0.70%) at a 1-month low, Dec silver (SIZ17+0.01%) -0.008 (-0.05%) at a 1-month low and Dec copper (HGZ17 +0.82%) +0.029 (+0.99%). Tuesday's closes: Dec gold -9.8 (-0.75%), Dec silver -0.264 (-1.54%), Dec copper -0.0185 (-0.63%). Metals on Tuesday closed lower on the rally in the dollar index to a 3-week high, hawkish comments from Fed Chair Yellen that signal a Fed rate hike in Dec, and the unexpected decline in U.S. Aug new home sales to an 8-month low that was negative for copper demand.

GLOBAL EVENT CALENDAR09/27/2017

		Wednesday, Sep 27
US	0700 ET	Weekly MBA mortgage applications, previous -9.7% with purchase sub-index -10.8% and refi sub-index -8.5%.
	0830 ET	Aug durable goods orders expected +1.0% and +0.3% ex-transportation, Jul -6.8% and +0.6 ex-transportation. Aug capital goods new orders ex aircraft & parts expected +0.3%, Jul +1.0%.
	1000 ET	Aug pending home sales expected -0.5%, Jul -0.8% m/m and -0.5% y/y.
	1030 ET	EIA weekly Petroleum Status Report.
	1130 ET	Treasury auctions $13 billion 2-year floating rate notes.
	1300 ET	Treasury auctions $34 billion 5-year T-notes.
	1330 ET	St. Louis Fed President James Bullard (non-voter) speaks on the U.S. economy and monetary policy at Truman State University in Kirksville, MO.
	1900 ET	Boston Fed President Eric Rosengren (non-voter) speaks to eh Money Marketeers of NYU.
		Thursday, Sep 28
US	0830 ET	Weekly initial unemployment claims expected +11,000 to 270,000, previous -23,000 to 259,000. Weekly continuing claims expected +13,000 to 1.993 million, previous +44,000 to 1.980 million.
	0830 ET	Revised Q2 GDP expected +unrevised at 3.0% (q/q annualized). Q2 personal consumption expected unrevised at +3.3%. Q2 GDP price index expected unrevised at +1.0%. Q2 core PCE deflator expected unrevised at +0.9% q/q.
	0830 ET	Aug wholesale inventories expected +0.4%, Jul +0.6% m/m.
	0830 ET	USDA weekly Export Sales.
	0945 ET	Kansas City Fed President Esther George (non-voter) speaks on the U.S. economy and monetary policy at a forum hosted by the Kansas City Fed.
	1000 ET	Fed Vice Chair Stanley Fischer speaks at the BOE Independence Conference in London on Developments in Central Banking.
	1100 ET	Sep Kansas City Fed manufacturing activity expected -2 to 14, Aug +6 to 16.
	1300 ET	Treasury auctions $28 billion of 7-year T-notes.
	1330 ET	Atlanta Fed President Raphael Bostic (non-voter) speaks on a Webcast about careers leveraging economics.
	1500 ET	USDA Q3 Hogs & Pigs Inventory.

U.S. STOCK CALENDAR09/27/2017

Name	Ticker	Time	Description	Period	Estimate
Palo Alto Networks Inc	PANW US	08:30	Investor Day
Flowserve Corp	FLS US	08:30	Financial Community Meeting
Spirit AeroSystems Holdings Inc	SPR US	09:00	Investor Conference
Praxair Inc	PX US	10:00	Extraordinary Shareholders Meeting - M&A Vote
Delphi Automotive PLC	DLPH US	10:00	Investor Meeting
Schlumberger Ltd	SLB US		Goldman Sachs Bus Tour
Schlumberger Ltd	SLB US		Credit Suisse Investor Dinner
Black Knight Financial Services Inc	BKFS US		Extraordinary Shareholders Meeting - M&A Vote
Flowers Foods Inc	FLO US	12:15	Investor Briefing
Applied Materials Inc	AMAT US	13:00	Analyst Day
Thor Industries Inc	THO US	Aft-mkt	Q4 2017 Earnings Release	Q4 17	1.956
Thor Industries Inc	THO US	16:20	Q4 2017 Earnings Call	Q4 17
Jabil Inc	JBL US	16:30	Q4 2017 Earnings Call	Q4 17
Jabil Inc	JBL US	16:30	Q4 2017 Earnings Release	Q4 17	0.613