Morning Call 11/27

Barchart Morning Call

Barchart.com - Mon Nov 27, 6:40AM CST

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.04%) this morning are up +0.09% at a new record nearest-futures high on signs of sustainability in the U.S. economic recovery as consumers continue to spend after Adobe Systems reported that Black Friday online spending was a record $5.03 billion, up +16.9% y/y. Adobe also estimates that today's Cyber Monday shopping day will be the biggest online shopping day in history, with $6.6 billion in predicted sales, up +16.5% y/y. European stocks are up +0.24% as political risks in Germany eased on signs that the SPD party will join Chancellor Merkel's Christian Democratic party in a "Grand Coalition." Asian stocks settled mostly lower: Japan -0.24%, Hong Kong -0.60%, China -0.94%, Taiwan -0.95%, Australia +0.10%, Singapore -0.17%, South Korea -1.76%, India +0.13%. China's Shanghai Composite tumbled to a 3-month low as concern over the government's attempt to tighten liquidity led to long liquidation in Chinese large-cap stocks. 

The dollar index (DXY00 -0.08%) is down -0.12% at a 2-month low. EUR/USD (^EURUSD) is up +0.03% at a 2-month high on optimism Chancellor Merkel's Christian Democratic party can form a coalition with the German SPD party. USD/JPY (^USDJPY) is down -0.33%.

Dec 10-year T-note prices (ZNZ17 unch) are down -3 ticks.

Japan Oct PPI services prices rose +0.8% y/y, weaker than expectations of +0.9% y/y.

China Oct industrial profits rose +25.1% y/y and Jan-Oct industrial profits are up +23.3% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Oct new home sales (expected -6.3% to 625,000, Sep +18.9% to 667,000), (2) Nov Dallas Fed manufacturing activity (expected -3.6 to 24.0, Oct +6.3 to 27.6), (3) Treasury auctions $26 billion of 2-year T-notes and $34 billion of 5-year T-notes, (4) New York Fed President Dudley (voter) speaks in a moderated discussion at the University of California, Berkeley, on ‘The U.S. Economy: 10 Years after the Crisis,’ (5) USDA weekly grain export inspections, (6) USDA crop conditions and progress report.

Notable Russell 1000 earnings reports today include: Thor Industries (consensus $1.86).

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

Equity conferences this week: MUFG Securities Equity Energy Tour on Mon, Credit Suisse Global TMT Conference on Mon-Wed, Credit Suisse Technology Media & Telecom Conference on Tue, UBS Global Real Estate CEO/CFO Conference on Tue, Piper Jaffray Health Care Conference on Tue-Wed, ACI European Base Oils & Lubricants Interactive Summit on Wed, Citi Basic Materials Conference on Wed-Thu, Bank of America Merrill Lynch Leveraged Finance Conference on Wed-Thu, Credit Suisse Industrials Conference on Wed-Thu, Evercore ISI Inaugural Biopharma Catalyst/Deep Dive Conference on Wed-Thu, ACI Cyber Security Oil, Gas, Power Conference on Thu, Deutsche Bank MedTools and Diagnostics One-on-One Day on Thu, HSBC High Yield Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Ciena (CIEN +0.67%) was upgraded to 'Buy' from 'Neutral' at Bank of America/Merrill Lynch with a 12-month target price of $28.

Everest Re (RE -0.72%) was upgraded to 'Outperform' from 'Underperform' at Keefe, Bruyette & Woods.

Norfolk Southern (NSC +0.60%) was downgraded to 'Sell' from 'Hold' at Loop Capital Markets with a price target of $120.

Western Digital (WDC -0.14%) was downgraded to 'Equal-Weight' from 'Overweight' at Morgan Stanley.

Allergan (AGN -0.74%) was resumed with an 'Outperform' at Leerink Partners LLC with a 12-month target price of $237.

Buffalo Wild Wings (BWLD -0.07%) was downgraded to 'Neutral' from 'Buy' at UBS, citing valuation.

Square (SQ +0.10%) was downgraded to 'Sell' from 'Neutral' at BTIG LLC with a 12-month target price of $30.

Eminence Capital reported that it raised its passive stake in Wendy's (WEN -0.65%) to 5.2% from 3.68%.

Macy's (M +2.13%) slipped almost 1% in after-hours trading after a glitch in the company's credit-card processing Black Friday spurred long lines which prompted some customers to abandon purchases due to the long wait times.

Johnson Controls International Plc (JCI +0.33%) may move higher this morning after vice president of the company, William Jackson, filed a Form 4 with the SEC that he purchased 20,000 shares of JCI at an average price of $36 on Nov 21.

Broadfin Capital reported that it reduced its stake in Recro Pharma (REPH unch) to 15.31% from 16.21%.

Marathon Patent Group (MARA +172.94%) jumped 14% in after-hours trading on top of a 173% surge Friday after it reported a Q3 operating loss of -$3.9 million versus an operating loss of -$10.7 million for Q3 of 2016.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.04%) this morning are up +2.25 points (+0.09%) at a new record nearest-futures high. Friday's closes: S&P 500 +0.21%, Dow Jones +0.14%, Nasdaq +0.36%. The S&P 500 on Friday climbed to a new record high and closed higher on a rally in consumer retail stocks due to optimism for strong holiday sales as Black Friday begins the all-important holiday shopping season. There was also strength in energy stocks after crude oil prices climbed +1.60% to a 2-1/3 year high.

Dec 10-year T-note prices (ZNZ17 unch) this morning are down -3 ticks. Friday's closes: TYZ7 -4.50, FVZ7 -2.75. Dec 10-year T-notes on Friday closed lower on the rally in the S&P 500 to a new record high and on the jump in crude oil prices to a 2-1/3 year high, which boosts inflation expectations.

The dollar index (DXY00 -0.08%) this morning is down -0.11 (-0.12%) at a 2-month low. EUR/USD (^EURUSD) is up +0.0004 (+0.03%) at a 2-month high and USD/JPY (^USDJPY) is down -0.37 (-0.33%). Friday's closes: Dollar Index -0.438 (-0.37%), EUR/USD +0.0080 (+0.68%), USD/JPY +0.30 (+0.27%). The dollar index on Friday fell to a 2-month low and closed lower on the unexpected decline in the U.S. Nov Markit manufacturing PMI, which is dovish for Fed monetary policy. There was also strength in EUR/USD, which rose to a 2-month high after the German Nov IFO business climate unexpectedly rose to the highest since the data series began in 1991.

Jan crude oil (CLF18 -1.05%) this morning is down -49 cents (-0.83%) and Jan gasoline (RBF18 -0.49%) is -0.0054 (-0.30%). Friday's closes: Jan WTI crude +0.93 (+1.60%), Jan gasoline +0.0187 (+1.06%). Jan crude oil and gasoline on Friday closed higher with Jan crude at a 2-1/3 year high and Jan gasoline at a 1-1/2 week high. Crude oil prices were boosted by the slump in the dollar index to a 2-month low and by a report that said Russia and OPEC have outlined a deal to extend their crude production cuts until the end of next year. Crude oil prices were also boosted by the rally in the S&P 500 to a new record high, which bolsters optimism in the economic outlook that may lead to increased energy demand.

Metals prices this morning are mixed with Dec gold (GCZ17 +0.51%) +6.2 (+0.48%), Dec silver (SIZ17 +0.52%) +0.078 (+0.46%) and Dec copper (HGZ17 -1.29%) -0.039 (-1.21%). Friday's closes: Dec gold -4.9 (-0.38%), Dec silver -0.120(-0.70%), Dec copper +0.0320 (+1.02%). Metals on Friday settled mixed with Dec copper at a 3-week high. Metals prices were boosted by the slide in the dollar index to a 2-month low. Copper was also boosted by strikes by copper miners in Chile and Peru and by tighter copper supplies as LME copper inventories fell -5,475 MT to a 2-1/4 month low of 213,600 MT. Metals prices were undercut by the rally in the S&P 500 to a new record high, which curbs safe-haven demand for precious metals.

GLOBAL EVENT CALENDAR11/27/2017

		Monday, Nov 27
US	1000 ET	Oct new home sales expected -6.3% to 625,000, Sep +18.9% to 667,000.
	1030 ET	Nov Dallas Fed manufacturing activity expected -3.6 to 24.0, Oct +6.3 to 27.6.
	1100 ET	USDA weekly grain export inspections.
	1130 ET	Treasury auctions $26 billion of 2-year T-notes.
	1300 ET	Treasury auctions $34 billion of 5-year T-notes.
	1600 ET	USDA crop conditions and progress report.
	1900 ET	New York Fed President Dudley (voter) speaks in a moderated discussion at the University of California, Berkeley, on The U.S. Economy: 10 Years after the Crisis.
		Tuesday, Nov 28
US	0830 ET	Oct wholesale inventories expected +0.4%, Sep +0.3%. Oct retail inventories, Sep -1.0%.
	0900 ET	Sep FHFA house price index expected +0.5% m/m, Aug +0.7% m/m. Q3 house price purchase index, Q2 +1.6% q/q.
	0900 ET	Sep S&P CoreLogic composite-20 home price index expected +0.3% m/m and +6.0% y/y, Aug +0.45% m/m and +5.92% y/y.
	1000 ET	Conference Board Nov U.S. consumer confidence expected -1.9 to 124.0, Oct +5.3 to 125.9.
	1000 ET	Senate Banking Committee holds hearing on Fed Chair nominee Jerome Powell.
	1000 ET	Nov Richmond Fed manufacturing index expected +2 to 14, Oct -7 to 12.
	1300 ET	Treasury auctions $28 billion of 7-year T-notes.

U.S. STOCK CALENDAR11/27/2017

Name	Ticker	Time	Description	Period	Estimate
Equifax Inc	EFX US		Investor Meeting
Thor Industries Inc	THO US	Aft-mkt	Q1 2018 Earnings Release	Q1 18	1.859

My 5 Favorite NASDAQ 100 Stocks

This morning I wanted to find the 5 NASDAQ 100 stocks with the highest Weighted Alpha and the most consistent price appreciation.  I used Barchart to sort the NASDAQ 100 Index stocks first by the highest Weighted Alpha, then used the Flipchart feature to review the charts for consistency.  Today's Watch List includes:

Electro Scientific Industries (ESIO), Hailiang Educations Group (HLG), Square (SQ), Zagg (ZAGG) and Overstock.Com (OSTK)

Electro Scientific Industries (ESIO)

Barchart technical indicators:

• 402.60+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 60.72% in the last month
• Relative Strength Index 77.39%
• Technical support level at 24.23
• Recently traded at 25.12 with a 50 day moving average of 16.94

Hailiang Education Group (HLG)

Barchart technical indicators:

• 345.40+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 125.19% in the last month
• Relative Strength Index 93.76%
• Technical support level at 42.55
• Recently traded at 43.80 with a 50 day moving average of 24.41

Square (SQ)

Barchart technical indicators:

• 286.70+ Weighted Alpha
• 100% technical buy signals
• Trend Spotter buy signal
• Above is 20, 50 and 100 day moving averages
• 16 new highs and up 39.11% in the last month
• Relative Strength Index 89.14%
• Technical support level at 44.51
• Recently traded at 45.2 with a 50 day moving average of 33.17

Zagg (ZAGG)

Barchart technical indicators:

• 279.20+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter  buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 27.99% in the last month
• Relative Strength Index 74.94%
• Technical support level at 21.65
• Recently traded at 21.95 with a 50 day moving average of 16.64

Overstock.Com (OSTK)

Barchart technical indicators:

• 278.80+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 10 new highs and up 49.08% in the last month
• Relative Strength Index 67.75%
• Technical support level at 53.18
• Recently traded at 56.65 with a 50 day moving average of 35.95

Square - Chart of the Day

Square (SQ) is a repeat Barchart Chart of the Day.  If you had bought it on 6/21 , the last time it was featured, you would have made 46.61%.  The software company has a Trend Spotter buy signal, a Weighted Alpha of 195.11+ and gained 216.63% in the last year.

The Chart of the Day belongs to Square (SQ).  It's a repeat and since the last time it was Chart of the Day on 6/21 the stock gained 46.61%.  I found the software stock by using Barchart to sort today's Top Stocks to Own list first by Weighted Alpha, then again for technical buy signals of 80% or more.  Next I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 9/11 the stock gained 26.88%.

Square, Inc. offers financial services and marketing services. The Company provides payments and point-of-sale which include hardware and software to accept payments, streamline operations and analyze business information. Its payments and POS services include In-Person Payments, Online Payments, Square Cash, Square Register, Square Analytics, Square Appointments and Square App Marketplace. The Company's financial services include Square Capital and Square Payroll. Square, Inc. is headquartered in San Francisco, California.

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

Barchart technical indicators:

• Weighted Alpha 195.11+
• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 14 new high and up 24.58% in the last month
• Relative Strength Index 81.95% in the last month
• Technical support level at 33.04
• Recently traded at 35.06 with a 50 day moving average of 28.94

Fundamental factors:

• Market cap $12.62 billion
• Revenue expected to grow 24.70% next year
• Earnings estimated to increase 148.00% this year, an additional 79.20% next year and continue to increase at the rate of 20.00% for the next 5 years
• Wall Street analysts issued 14 strong buy, 3 buy and 11 hold recommendations on the stock

Articles by this author:

Aerojet Rocketdyne: A Great Choice for your portfolio ----  features(AJRD),LMT, OA and KTOS

Align Technology: A Double Digit Growth Stock - features(ALGN), BDX,MCK and BCR

MORNING CALL 10/12

Barchart Morning Call

Barchart.com - Thu Oct 12, 6:42AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.21%) this morning are down -0.15% and European stocks are down -0.19% as weakness in crude oil prices drags energy stocks lower. Nov WTI crude oil (CLX17 -1.54%) is down -1.54% after API data late Wednesday showed that U.S. crude stockpiles rose +3.1 million bbl last week. Also, a -0.6% decline in JPMorgan Chase in pre-market trading is undercutting stock indexes after it reported Q3 FICC sales and trading revenue of $3.16 billion, below consensus of $3.18 billion. A rally in mining stocks is limiting the downside in equity markets as metals prices moved higher. Dec COMEX gold (GCZ17 +0.71%) is up +0.64% and Dec silver (SIZ17 +0.71%) climbed +0.60% to 2-week highs and Dec copper (HGZ17 +0.57%) is up +0.44% and posted a 1-month high after the minutes of the Sep 19-20 FOMC meeting on Wednesday afternoon showed policy makers were concerned about low inflation, which may keep the Fed from additional rate hikes. Losses in European stocks were contained after Eurozone Aug industrial production rose a more-than-expected +1.4% m/m, the biggest increase in 9-months. Asian stocks settled mostly higher: Japan +0.35%, Hong Kong +0.24%, China -0.06%, Taiwan +0.66%, Australia +0.39%, Singapore +0.70%, South Korea +0.61%, India +1.09%. Japan's Nikkei Stock Index rose to a fresh 2-year high on optimism that Prime Minister Abe's party will retain its dominant position in Japan's parliament when voters go to the polls on Oct 22.

The dollar index (DXY00 +0.03%) is up +0.05%. EUR/USD (^EURUSD) is down -0.01% and fell back from a 2-week high after ECB Executive Board member Praet said "a very substantial degree of monetary accommodation is still needed" to bolster Eurozone inflation. USD/JPY (^USDJPY) is down -0.18%.

Dec 10-year T-note prices (ZNZ17 +0.12%) are up +3 ticks.

ECB Executive Board member Praet said "a very substantial degree of monetary accommodation is still needed" to bolster Eurozone inflation. "Deflationary risks have disappeared and some measures of underlying inflation have ticked up over recent months, but overall inflation developments, despite the solid growth, have remained subdued."

Eurozone Aug industrial production rose +1.4% m/m, stronger than expectations of +0.6% m/m and the largest increase in 9-months.

Japan Sep PPI rose +0.2% m/m and +3.0% y/y, right on expectations with the +3.0% y/y gain the largest year-on-year increase in 3-years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected -10,000 to 250,000, previous -12,000 to 260,000) and continuing claims (expected -8,000 to 1.930 million, previous +2,000 to 1.938 million), (2) Sep PPI final demand (expected +0.4% m/m and +2.6% y/y, Aug +0.2% m/m and +2.4% y/y) and Sep PPI ex food & energy (expected +0.2% m/m and +2.0% y/y, Aug +0.1% m/m and +2.0% y/y), (3) Fed Governor Lael Brainard and ECB President Mario Draghi speak on a monetary policy panel at the Peterson Institute for International Economics in Washington D.C., (4) Fed Governor Jerome Powell delivers keynote address on “Prospects for Emerging Market Economies in a Normalizing Global Economy” at an Institute of International Finance conference on emerging markets, (5) Treasury auctions $12 billion of 30-year T-bonds, (6) EIA weekly Petroleum Status Report, (7) USDA Oct WASDE crop production report.

Notable Russell 1000 earnings reports today include: JPMorgan Chase (consensus $1.65), Citigroup (1.32), Omincom Group (1.09), Domino's Pizza (1.22).

U.S. IPO's scheduled to price today: Optinose (OPTN).

Equity conferences this week: HR Technology Conference on Tue-Fri, National HUBZone Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

JPMorgan Chase (JPM -0.30%) is down -0.6% in pre-market trading after it reported Q3 FICC sales and trading revenue of $3.16 billion, below consensus of $3.18 billion.

Disney (DIS -1.03%) was downgraded to 'Neutral' from 'Buy' at Guggenheim Securities.

Williams-Sonoma (WSM -1.38%) was downgraded to 'Underperform' from 'Neutral' at Credit Suisse with a price target of $44.

Host Hotels (HST +0.65%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank with a price target of $21.

Square (SQ +2.17%) was initiated as a new 'Outperform' at Oppenheimer with a price target of $35.

Juniper Networks (JNPR -1.65%) slid nearly 3% in after-hours trading after it reported preliminary Q3 revenue of $1.25 billion-$1.26 billion, below a prior estimate of $1.29 billion-$1.35 billion and below consensus of $1.33 billion.

NanoString Technologies (NSTG +0.13%) dropped nearly 10% in after-hours trading after it reported preliminary Q3 revenue of $25.9 million-$26.9 million, below consensus of $27.7 million.

Blackhawk Network Holdings (HAWK -0.90%) fell almost 7% in after-hours trading after it said it sees full-year adjusted EPS of $1.56 to $1.70, the midpoint below consensus of $1.68.

Protagonist Therapeutics (PTGX +0.71%) slumped over 10% in after-hours trading after it proposed an underwritten public offering of $50 million of its common stock.

Kandi Technologies Group (KNDI -7.82%) dropped over 5% in after-hours trading after it filed a $300 million shelf of mixed securities.

Babcock & Wilcox Enterprises (BW +4.22%) rose almost 6% in after-hours trading after Viex Capital reported a 6.4% stake in the company.

J. Jill (JILL -2.17%) plunged 35% in after-hours trading after it cut its Q3 adjusted EPS estimate to 8 cents-10 cents from an Aug 29 estimate of 18 cents-20 cents, citing lower than expected sales trends across retail and direct channels.

Ardelyx (ARDX unch) surged 45% in after-hour trading after it said its tenapanor drug for treatment of irritable bowel syndrome with constipation met statistical significance for the primary endpoint and all secondary endpoints in the second Phase 3 study.

Sigma Designs (SIGM +0.77%) rose almost 4% in after-hours trading after it said it will cut between 200 to 250 positions worldwide under its restructuring plan.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.21%) this morning are down -3.75 points (-0.15%). Wednesday's closes: S&P 500 +0.18%, Dow Jones +0.18%, Nasdaq +0.29%. The S&P 500 on Wednesday climbed to a new record high and settled higher on carry-over support from a rally in European stocks on reduced Spanish political concerns after Catalan President Puigdemont said he would seek talks with the Spanish government over the future of Catalonia rather than seek immediate independence. US stocks also received a boost from the minutes of the Sep 19-20 FOMC meeting that said some policy makers did not want to raise interest rates until they were confident inflation would rise to their 2% target.

Dec 10-year T-note prices (ZNZ17 +0.12%) this morning are up +3 ticks. Wednesday's closes: TYZ7 -1.00, FVZ7 -1.75. Dec 10-year T-notes on Wednesday closed slightly lower on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 5-month high. Losses were limited by dovish comments from Dallas Fed President Kaplan who said that he is "really nervous" that inflation expectations are low, which suggests that he may not support a Fed rate hike in Dec.

The dollar index (DXY00 +0.03%) this morning is up +0.044 (+0.05%). EUR/USD (^EURUSD) is down -0.0001 (-0.01%) and USD/JPY (^USDJPY) is down -0.20 (-0.18%). Wednesday's closes: Dollar Index -0.275 (-0.29%), EUR/USD +0.0051 (+0.43%), USD/JPY +0.05 (+0.04%). The dollar index on Wednesday fell to a 1-week low and closed lower on strength in EUR/USD which climbed to a 2-week high as Spanish political concerns eased after Catalan President Puigdemont said he is looking to negotiate with the Spanish government rather than seeking immediate independence. The dollar was also undercut by the Sep 19-20 FOMC meeting minutes that showed policy makers were concerned about persistently low inflation.

Nov crude oil (CLX17 -1.54%) this morning is down -79 cents (-1.54%) and Nov gasoline (RBX17 -0.80%) is -0.0127(-0.79%). Wednesday's closes: Nov WTI crude +0.38 (+0.75%), Nov gasoline +0.0177 (+1.11%). Nov crude oil and gasoline on Wednesday closed higher with Nov crude at a 1-week high. Crude oil prices were boosted by the fall in the dollar index to a 1-week low and by expectations for EIA crude inventories on Thursday to fall -750,000 bbl. Crude oil prices were undercut by the EIA's hike in its 2018 U.S. crude output estimate to 9.92 million bpd from 9.84 million bpd.

Metals prices this morning are higher with Dec gold (GCZ17 +0.71%) +8.3 (+0.64%) at a 2-week high, Dec silver (SIZ17+0.71%) +0.102 (+0.60%) at a 2-week high and Dec copper (HGZ17 +0.57%) +0.014 (+0.44%) at a 1-month high. Wednesday's closes: Dec gold -4.9 (-0.38%), Dec silver -0.074 (-0.43%), Dec copper +0.0350 (+1.14%). Metals on Wednesday settled mixed with Dec copper at a 1-month high. Metals prices were supported by the fall in the dollar index to a 1-week low and by tighter copper supplies after LME copper inventories fell -2,955 MT to a 3-1/2 week low of 286,925 MT. Precious metals prices were undercut by reduced safe-haven demand as Spanish political risks eased.

GLOBAL EVENT CALENDAR10/12/2017

		Thursday, Oct 12
US	0830 ET	Weekly initial unemployment claims expected -10,000 to 250,000, previous -12,000 to 260,000. Weekly continuing claims expected -8,000 to 1.930 million, previous +2,000 to 1.938 million.
	0830 ET	Sep PPI final demand expected +0.4% m/m and +2.6% y/y, Aug +0.2% m/m and +2.4% y/y. Sep PPI ex food & energy expected +0.2% m/m and +2.0% y/y, Aug +0.1% m/m and +2.0% y/y.
	1015 ET	Fed Governor Lael Brainard and ECB President Mario Draghi speak on a monetary policy panel at the Peterson Institute for International Economics in Washington D.C.
	1030 ET	Fed Governor Jerome Powell delivers keynote address on Prospects for Emerging Market Economies in a Normalizing Global Economy at an Institute of International Finance conference on emerging markets.
	1100 ET	Treasury announces amount of 30-year TIPS to be auctioned Oct 19 (previous $5 billion).
	1100 ET	EIA weekly Petroleum Status Report.
	1200 ET	USDA Oct WASDE crop production report.
	1300 ET	Treasury auctions $12 billion of 30-year T-bonds.
		Friday, Oct 13
US	0830 ET	Sep CPI expected +0.6% m/m and +2.3% y/y, Aug +0.4% m/m and +1.9% y/y. Sep CPI ex food & energy expected +0.2% m/m and +1.8% y/y, Aug +0.2% m/m and +1.7% y/y.
	0830 ET	Sep retail sales expected +1.7% and +0.9% ex autos, Aug -0.2% and +0.2% ex autos.
	0830 ET	Boston Fed President Eric Rosengren (non-voter) delivers opening remarks at the Boston Fed conference on Are Rules Made to be Broken? Discretion and Monetary Policy Text.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Prelim-Oct University of Michigan U.S. consumer sentiment expected -0.1 to 95.0, Sep -1.7 to 95.1.
	1000 ET	Aug business inventories expected +0.7%, Jul +0.2%.
	1025 ET	Chicago Fed President Charles Evans (voter) discusses current economic conditions and monetary policy at the Wisconsin Summit on Financial Literacy in Green Bay, WI.
	1130 ET	Dallas Fed President Robert Kaplan (voter) speaks in a moderated Q&A session at the CFA Institutes Fixed Income Management Conference in Boston.

U.S. STOCK CALENDAR10/12/2017

Name	Ticker	Time	Description	Period	Estimate
JPMorgan Chase & Co	JPM US	06:45	Q3 2017 Earnings Release	Q3 17	1.653
Domino's Pizza Inc	DPZ US	07:30	Q3 2017 Earnings Release	Q3 17	1.222
Citigroup Inc	C US	08:00	Q3 2017 Earnings Release	Q3 17	1.321
JPMorgan Chase & Co	JPM US	08:30	Q3 2017 Earnings Call	Q3 17
Citigroup Inc	C US	10:00	Q3 2017 Earnings Call	Q3 17
Domino's Pizza Inc	DPZ US	10:00	Q3 2017 Earnings Call	Q3 17
Omnicom Group Inc	OMC US		Q3 2017 Earnings Release	Q3 17	1.092
HP Inc	HPQ US		Analyst Meeting
Nu Skin Enterprises Inc	NUS US	13:45	Investor Meeting