Morning Call 10/27

Barchart Morning Call

Barchart.com - Fri Oct 27, 6:40AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 +0.21%) this morning are up +0.25% and European stocks are up +0.63% at a 2-year high. U.S. stock index futures rose after the U.S. House passed a resolution that brings tax cuts a step closer. Also, technology stocks gained with Alphabet up 3% in pre-market trading and Amazon.com up 8% in pre-market trading after both companies reported stellar quarterly earnings results. European stocks gained on the slow approach by the ECB to reducing monetary stimulus along with the slump in EUR/USD to a 3-month low that gave European exporter stocks a boost. Asian stocks settled mostly higher: Japan +1.24%, Hong Kong +0.84%, China +0.27%, Taiwan -0.24%, Australia -0.22%, Singapore +0.90%, South Korea +0.69%, India +0.03%. China's Shanghai Composite climbed to a 1-1/4 year high on optimism in the Chinese economic outlook after China Sep industrial profits surged +27.7% y/y, the largest increase in 5-3/4 years. Japan's Nikkei Stock Index rallied to a 21-1/4 year high on strength in financial and telecommunication companies. Also. Japanese exporters surged as the yen fell to a 3-1/2 month low against the dollar, which boosted exporters' earnings prospects.

The dollar index (DXY00 +0.37%) is up +0.28% to a 3-1/4 month high after the U.S. House passed a budget resolution on tax reforms ad on speculation that President Trump will nominate a hawk as the next Fed Chair. EUR/USD (^EURUSD) is down -0.31% at a 3-month low after the ECB extended its QE program to at least Sep of 2018. USD/JPY (^USDJPY) is up +0.12% at a 3-1/2 month high as a rally in global equity markets reduces the safe-haven demand for the yen.

Dec 10-year T-note prices (ZNZ17 +0.01%) are up +1 tick.

As expected, the Bank of Russia cut its benchmark rate by -25 bp to 8.25% from 8.50%.

China Sep industrial profits jumped +27.7% y/y, the most in 5-3/4 years.

German Sep import prices rose +0.9% m/m and +3.0% y/y, stronger than expectations of +0.5% m/m and +2.6% y/y with the +0.9% m/m gain the largest monthly increase in 8 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Q3 GDP (expected +2.6% q/q annualized, Q2 +3.1%), (2) final-Oct University of Michigan U.S. consumer sentiment (expected -0.4 to 100.7, previous +6.0 to 101.1).

Notable S&P 500 earnings reports today include: Exxon Mobil (consensus $0.87), Phillips 66 (1.57), Colgate-Palmolive (0.73), Merck (1.04), Cabot Oil & Gas (0.08), AbbVie (1.39), Goodyear (0.67), Weyerhaeuser (0.32).

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

Equity conferences this week: Society of Women Engineers National Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Alphabet (GOOGL unch) climbed nearly 3% in pre-market trading after it reported Q3 EPS of $9.57, well above consensus of $8.34.

Amazon.com (AMZN -0.05%) jumped 8% in pre-market trading after it reported Q3 EPS of 52 cents, well above consensus of 4 cents.

First Solar (FSLR +1.12%) was upgraded to 'Buy' from 'Hold' at Needham & Co with a 12-month target price of $60.

Gilead Sciences (GILD -2.52%) slipped 3% in after-hours trading after it management said during a conference call that competition from AbbVie's hepatitis C drug Mavyret is undercutting Gilead and will have a bigger impact in Q4 and into next year.

Microsoft (MSFT +0.17%) rose almost 4% in after-hours trading after it reported Q1 EPS of 84 cents, better than consensus of 72 cents.

Intel (INTC +1.40%) gained over 1% in after-hours trading after it reported Q3 adjusted EPS of $1.01, higher than consensus of 80 cents.

Expedia (EXPE -0.37%) slumped 15% in after-hours trading after it reported Q3 adjusted EPS of $2.51, weaker than consensus of $2.62.

Stryker (SYK -0.91%) rose almost 3% in after-hours trading after it reported Q3 adjusted EPS of $1.52, above consensus of $1.49, and he said is sees full-year adjusted EPS of $6.45 to $6.50, better than consensus of $6.43.

Align Technology (ALGN +0.61%) rallied 13% in after-hours trading after it reported Q3 net revenue of $385.3 million, higher than consensus of $359.8 million, and then said it sees Q4 net revenue of $391 million to $398 million, better than consensus of $368.2 million.

Electronics for Imaging (EFII -1.33%) sank 15% in after-hours trading after it reported Q3 adjusted EPS of 48 cents, below consensus of 58 cents.

Trimble (TRMB +0.02%) climbed 4% in after-hours trading after it reported Q3 revenue of $670 million, above consensus of $660.1 million, and said it sees Q4 revenue of $655 million-$685 million, better than consensus of $653.5 million.

Fortinet (FTNT +1.01%) dropped 9% in after-hours trading after it said it sees Q4 revenue of $404 million-$412 million, below consensus of $416.9 million, and said it sees full-year revenue of $1.48 billion-$1.49 billion, the mid-point below consensus of $1.49 billion.

Mattel (MAT -0.52%) tumbled 19% in after-hours trading after it reported Q3 adjusted EPS of 9 cents, well below consensus of 57 cents.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.21%) this morning are up +6.50 points (+0.25%). Thursday's closes: S&P 500 +0.13%, Dow Jones +0.31%, Nasdaq -0.28%. The S&P 500 on Thursday closed higher on carry-over support from a rally in European stocks after the ECB extended its QE program by 9 months and left open the option for a continuation beyond that. Stocks were also boosted by strong quarterly earnings results from Ford, UPS and Twitter.

Dec 10-year T-note prices (ZNZ17 +0.01%) this morning are up +1 tick. Thursday's closes: TYZ7 -2.50, FVZ7 -2.00. Dec 10-year T-notes on Thursday closed lower on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 1-1/2 week high, and by strength in stocks, which curbed the safe-haven demand for T-notes. T-notes found some support on the weaker-than-expected U.S. Sep pending home sales.

The dollar index (DXY00 +0.37%) this morning is up +0.28% to a 3-1/4 month high. EUR/USD (^EURUSD) is down -0.0036(-0.31%) to a 3-month low and USD/JPY (^USDJPY) is up +0.14 (+0.12%) to a 3-1/2 month high. Thursday's closes: Dollar Index +0.901 (+0.96%), EUR/USD -0.0162 (-1.37%), USD/JPY +0.24 (+0.21%). The dollar index on Thursday rallied to a 3-month high and settled higher on weakness in EUR/USD which fell to a 3-month low after the ECB extended its QE program until Sep 2018 and ECB President Draghi said the Eurozone still needs "ample" stimulus.

Dec crude oil (CLZ17 -0.13%) this morning is down -8 cents (-0.15%) and Dec gasoline (RBZ17 -0.17%) is -0.0058 (-0.34%). Thursday's closes: Dec WTI crude +0.46 (+0.88%), Dec gasoline +0.0156 (+0.93%). Dec crude oil and gasoline on Thursday closed higher on comments from Saudi Crown Prince Mohammed bin Salman who said that he backed the extension of OPEC crude production cuts beyond Mar of 2018. Crude oil prices were also supported by the increase in the crack spread to a 1-1/4 month high, which may spur refineries to boost their crude purchases to refine the crude into gasoline. Crude oil prices were undercut by the rally in the dollar index to a 3-month high.

Metals prices this morning are weaker with Dec gold (GCZ17 -0.17%) -1.5 (-0.12%) at a 3-week low, Dec silver (SIZ17-0.78%) -0.106 (-0.63%) at a 3-week low and Dec copper -0.055 (-1.72%) at a 1-1/2 week low. Thursday's closes: Dec gold -9.4 (-0.73%), Dec silver -0.114 (-0.67%), Dec copper (HGZ17 -2.14%) -0.0055 (-0.17%). Metals on Thursday closed lower on the rally in the dollar index to a 3-month high and by strength in stocks that reduced the safe-haven demand for precious metals.

GLOBAL EVENT CALENDAR10/27/2017

		Friday, Oct 27
US	0830 ET	Q3 GDP expected +2.6% (q/q annualized), Q2 +3.1%. Q3 personal consumption expected +2.1%, Q2 +3.3%. Q3 GDP price index expected +1.7%, Q2 +1.0%. Q3 core PCE expected +1.3% q/q, Q2 +0.9% q/q.
	1000 ET	Final-Oct University of Michigan U.S. consumer sentiment expected -0.4 to 100.7, previous +6.0 to 101.1.
		Monday, Oct 30
US	0830 ET	Sep personal spending expected +0.8%, Aug +0.1%. Sep personal income expected +0.4%, Aug +0.2%. Sep PCE deflator expected +0.4% m/m, Aug +0.2% m/m and +1.4% y/y. Sep core PCE deflator expected +0.1% m/m, Aug +0.1% m/m and +1.3% y/y.
	1030 ET	Oct Dallas Fed manufacturing activity expected -0.3 to 21.0, Sep +4.3 to 21.3.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA crop conditions and progress report.

U.S. STOCK CALENDAR10/27/2017

Name	Ticker	Time	Description	Period	Estimate
Weyerhaeuser Co	WY US	03:05	Q3 2017 Earnings Release	Q3 17	0.319
Goodyear Tire & Rubber Co/The	GT US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	0.674
AbbVie Inc	ABBV US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	1.385
Ventas Inc	VTR US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	1.043
Cabot Oil & Gas Corp	COG US	06:30	Q3 2017 Earnings Release	Q3 17	0.083
Aon PLC	AON US	06:30	Q3 2017 Earnings Release	Q3 17	1.278
Rockwell Collins Inc	COL US	06:30	Q4 2017 Earnings Release	Q4 17	1.79
Merck & Co Inc	MRK US	06:45	Q3 2017 Earnings Release	Q3 17	1.039
LyondellBasell Industries NV	LYB US	06:45	Q3 2017 Earnings Release	Q3 17	2.492
Colgate-Palmolive Co	CL US	06:55	Q3 2017 Earnings Release	Q3 17	0.733
Phillips 66	PSX US	07:00	Q3 2017 Earnings Release	Q3 17	1.569
Exxon Mobil Corp	XOM US	08:00	Q3 2017 Earnings Release	Q3 17	0.87
Merck & Co Inc	MRK US	08:00	Q3 2017 Earnings Call	Q3 17
Eastman Chemical Co	EMN US	08:00	Q3 2017 Earnings Call	Q3 17
Aon PLC	AON US	08:30	Q3 2017 Earnings Call	Q3 17
Chubb Ltd	CB US	08:30	Q3 2017 Earnings Call	Q3 17
Simon Property Group Inc	SPG US	08:30	Q3 2017 Earnings Release	Q3 17	2.873
Chevron Corp	CVX US	08:30	Q3 2017 Earnings Release	Q3 17	0.988
Leggett & Platt Inc	LEG US	08:30	Q3 2017 Earnings Call	Q3 17
AbbVie Inc	ABBV US	09:00	Q3 2017 Earnings Call	Q3 17
Goodyear Tire & Rubber Co/The	GT US	09:00	Q3 2017 Earnings Call	Q3 17
Exxon Mobil Corp	XOM US	09:30	Q3 2017 Earnings Call	Q3 17
Cabot Oil & Gas Corp	COG US	09:30	Q3 2017 Earnings Call	Q3 17
FirstEnergy Corp	FE US	10:00	Q3 2017 Earnings Call	Q3 17
Principal Financial Group Inc	PFG US	10:00	Q3 2017 Earnings Call	Q3 17
Ventas Inc	VTR US	10:00	Q3 2017 Earnings Call	Q3 17
Simon Property Group Inc	SPG US	10:00	Q3 2017 Earnings Call	Q3 17
Weyerhaeuser Co	WY US	10:00	Q3 2017 Earnings Call	Q3 17
LyondellBasell Industries NV	LYB US	11:00	Q3 2017 Earnings Call	Q3 17
Colgate-Palmolive Co	CL US	11:00	Q3 2017 Earnings Call	Q3 17
National Oilwell Varco Inc	NOV US	11:00	Q3 2017 Earnings Call	Q3 17
Chevron Corp	CVX US	11:00	Q3 2017 Earnings Call	Q3 17
Cincinnati Financial Corp	CINF US	11:00	Q3 2017 Earnings Call	Q3 17
Mohawk Industries Inc	MHK US	11:00	Q3 2017 Earnings Call	Q3 17
Phillips 66	PSX US	12:00	Q3 2017 Earnings Call	Q3 17
LyondellBasell Industries NV	LYB US		Q3 2017 Earnings Call	Q3 17
Apartment Investment & Management Co	AIV US	13:00	Q3 2017 Earnings Call	Q3 17
Harris Corp	HRS US	13:00	Annual General Meeting

Stryker - Chart of the Day

Stryker (SYK) is the Barchart Chart of the Day.  The medical products company has a Trend Spotter buy signal, a Weighted Alpha of 30.80+ and gained 25.20% in the last year.

The Chart of the Day belongs to Stryker (SYK).  I found the medical products stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month, then I used the Flipchart feature to review the charts for consistency.

Stryker Corporation develops, manufactures, and markets specialty surgical and medical products, including orthopaedic implants, bone cement, trauma systems used in bone repair, powered surgical instruments, endoscopic systems, craniomaxillofacial fixation devices, specialty surgical equipment used in neurosurgery and patient care and handling equipment for the global market and provide outpatient physical and occupational rehabilitation services.

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:

• 72% technical buy signals
• Trend Spotter buy signal
• Above its 20,50 and 100 day moving averages
• 16 new highs and up 6.77% in the last month
• Relative Strength Index 68.99%
• Technical support level at 120.05
• Recently traded at 122.08 with a 50 day moving average of 115.05

Fundamental factors:

• Market Cap $45.66 billion
• P/E 23.30
• Dividend yield 1.24%
• Revenue expected to grow 12.90% this year and another 8.20% next year
• Earnings estimated to increase 12.50% this year, an additional 10.80% next year and continue to compound at an annual rate of 10.39% for the next 5 years
• Wall Street analysts issued 14 strong buy, 2 buy, 6 hold and 2 string sell recommendations on the stock

MORNING CALL 6/8

MORNING CALL

Thursday, June 9th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 -0.33%) are down -0.33% and European stocks are down -0.89% as weakness in commodity prices drags down global equity markets. A sell-off in mining stocks and energy and raw-material producers are leading stocks lower after they rallied sharply earlier this week. The slide in world equity markets has fueled rallies in government bond markets as the German 10-year bund yield matched its record low of 0.033% set Wednesday and the UK 10-year gilt yield dropped to a record low of 1.24%. Asian stocks settled mostly lower: Japan -0.97%, Hong Kong, China and Taiwan closed for holiday, Australia -0.15%, Singapore -0.65%, South Korea +0.06%, India -0.95%. Japanese stocks were undercut by strength in the yen as USD/JPY fell to a 1-month low, which reduces the profitability of exporters. Japanese industrial stocks also fell after the -11.0% plunge in Japan Apr machine orders, the biggest monthly decline in 23 months.

The dollar index (DXY00 +0.32%) is up +0.25%. EUR/USD (^EURUSD) is down -0.47%. USD/JPY (^USDJPY) is down -0.44% at a 1-month low.

Sep T-note prices (ZNU16 +0.19%) are up +6.5 ticks at a contract high due to weakness in global stocks and carryover from rallies in European government bonds to record highs.

The German Apr trade balance shrank to a surplus of 25.6 billion euros, a larger surplus than expectations of 22.8 billion euros. Apr exports were unchanged m/m, stronger than expectations of -0.8% m/m. Apr imports unexpectedly fell -0.2% m/m, weaker than expectations of +1.3% m/m.

Japan Apr machine orders fell -11.0% m/m and -8.2% y/y, weaker than expectations of -3.0% m/m and -1.8% y/y with the -11.0% m/m fall the biggest monthly decline in 23 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected +3,000 to 270,000, previous -1,000 to 267,000) and continuing claims (expected -1,000 to 2.171 million, previous +12,000 to 2.172 million), (2) Apr wholesale inventories (expected +0.1% m/m, Mar +0.1% m/m), (3) the Treasury's auction of $12 billion of 30-year T-bonds, and (4) USDA weekly Export Sales.

There are 2 of the Russell 1000 companies that report earnings today: JM Smucker (consensus $1.21), H&R Block (3.17).

U.S. IPO's scheduled to price today: Atkore International Group (ATKR), China Online Education Group (COE),

Equity conferences during the remainder of this week include: American Society of Clinical Oncology Annual Meeting on Mon-Thu, Goldman Sachs Global Health Care Conference on Tue-Thu, Jefferies Global Health Care Conference on Tue-Thu, Baird Global Consumer, Technology and Services Conference on Tue-Thu, Deutsche Bank Global Industrials and Materials Summit on Wed-Thu, Sandler O'Neill Global Exchange and Brokerage Conference on Wed-Thu, Gabelli & Company Movie & Entertainment Conference on Thu, Susquehanna Financial Group Energy and Industrials Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Comtech Telecommunications (CMTL -1.36%) lowered guidance on fiscal 2016 revenue to $425 million-$435 million from a March 10 estimate of $435 million-$445 million.

US Concrete (USCR +2.47%) was rated a new 'Buy' at DA Davidson with an 18-month target price of $80.

SolarCity (SCTY -0.94%) rose over 3% in pre-market trading after it was upgraded to 'Outperform' from 'Neutral' at Baird.

Boston Scientific (BSX +0.75%) was rated a new 'Buy' at Guggenheim Securities with a 12-month price target of $26.

Chesapeake Energy (CHK +6.42%) tumbled over 4% in pre-market trading after it was downgraded to 'Underperform' from 'Sector Perform' at RBC Capital Markets.

Fitbit (FIT -1.47%) was rated a new 'Outperform' at Wedbush with a 12-month price target of $18.

Stryker (SYK +1.51%) was rated a new 'Buy' at Guggenheim Securities with a 12-month price target of $134.

LinkedIn (LNKD +0.11%) climbed nearly 2% in pre-market trading after it was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital Markets with a target price of $160.

Restoration Hardware Holdings (RH +1.95%) plunged over 20% in pre-market trading after it reported an unexpected Q1 adjusted EPS loss of -5 cents, weaker than consensus of a 5 cent gain, and then cut its full-year adjusted EPS forecast to $1.60-$1.80, well below consensus of $2.66,

ABM Industries (ABM +1.52%) gained over 3% in after-hours trading after it reported Q2 adjusted EPS continuing operations of 31 cents, higher than consensus of 27 cents.

Tesco (TESO +2.33%) slid over 3% in after-hours trading after it announced a public offering of 7 million shares of common stock.

Envision Healthcare (EVHC +1.66%) rose over 3% in after-hours trading after Dow Jones reported that the company was in merger talks with Amsung.

Team Health Holdings (TMH -0.10%) tumbled over 9% in after-hours trading after Dow Jones reported that a deal between AmSung, who was rumored to merge with Team Health, was said to be close to a deal to merge with Envision Healthcare.

Brinker International (EAT +1.58%) jumped 6% in after-hours trading after it said it sees fiscal 2017 comparable sales up +0.5% to +2.0%.

MARKET COMMENTS

June E-mini S&Ps (ESM16 -0.33%) this morning are down -7.00 points (-0.33%). Wednesday's closes: S&P 500 +0.33%, Dow Jones +0.37%, Nasdaq +0.17%. The S&P 500 index on Wednesday climbed to a 10-1/2 month high and closed higher on the unexpected +118,000 increase in U.S. Apr JOLTS job openings to 5.788 million, more than expectations for a decline of -82,000 to 5.675 million and matching the July 2015 record high. Stocks were also boosted by strength in energy and raw-material producers as commodity prices rallied with crude oil at a 10-1/2 month high and gold and silver at 3-week highs.

September 10-year T-note prices (ZNU16 +0.19%) this morning are up +6.5 ticks at a contract high. Wednesday's closes: TYU6 +2.50, FVU6 +2.00. Sep T-notes on Wednesday fell back from a 1-month high and closed lower on the rally in the S&P 500 to a 10-1/2 month high and on the unexpected increase in Apr JOLTS job openings to a record high. T-notes gained support from a rally in German bunds as the 10-year bund yield fell to a record low of 0.033% and from economic growth concerns after the World Bank cut its global 2016 GDP forecast.

The dollar index (DXY00 +0.32%) this morning is up +0.238 (+0.25%). EUR/USD (^EURUSD) is down -0.0053 (-0.47%). USD/JPY (^USDJPY) is down-0.47 (-0.44%) at a 1-month low. Wednesday's closes: Dollar Index -0.238 (-0.25%), EUR/USD +0.0037 (+0.33%), USD/JPY -0.38 (-0.35%). The dollar index on Wednesday fell to a 1-month low and closed lower on the World Bank's cut in its U.S. 2016 GDP forecast to 2.4% from 2.7% and on continued dollar bearishness after Fed Chair Yellen on Monday expressed concern about last Friday's payroll report and backed off her previous comment that a rate hike would be appropriate in "coming months."

July WTI crude oil (CLN16 -0.82%) this morning is down -40 cents (-0.78%). July gasoline (RBN16 -1.27%) is down -0.0201 (-1.24%). Wednesday's closes: CLN6 +0.87 (+1.73%), RBN6 +0.0327 (+2.06%). July crude oil and gasoline prices on Wednesday closed higher with July crude at a 10-1/2 month high. Crude oil prices were boosted by the slide in the dollar index to a 1-month low and by the -3.23 million bbl decline in EIA crude inventories, a bigger decline than expectations of -3.0 million bbl. Gasoline prices were undercut by the unexpected +1.01 million bbl increase in EIA gasoline stockpiles versus expectations for a -2.0 million bbl draw.

GLOBAL EVENT CALENDAR06/09/2016

		Thursday, June 9
US	0830 ET	Weekly initial unemployment claims expected +3,000 to 270,000, previous -1,000 to 267,000. Weekly continuing claims expected-1,000 to 2.171 million, previous +12,000 to 2.172 million.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Apr wholesale inventories expected +0.1% m/m, Mar +0.1% m/m. Apr wholesale trade sales expected +1.1% m/m, Mar +0.7% m/m.
	1300 ET	Treasury auctions $12 billion of 30-year T-bonds.
GER	0200 ET	German Apr trade balance expected +22.8 billion euros, Mar +26.2 billion euros. Apr exports expected -0.8% m/m, Mar +1.9% m/m. Apr imports expected +1.3% m/m, Mar -2.3% m/m.
	0200 ET	German Apr current account balance expected +20.5 billion euros, Mar +30.4 billion euros.
	0200 ET	German Q1 labor costs, Q4 +0.5% q/q and +2.1% y/y.
EUR	0300 ET	ECB President Mario Draghi speaks at an economic forum in Brussels.
JPN	0200 ET	Japan May machine tool orders, Apr -26.3% y/y.
	1950 ET	Japan May PPI expected +0.1% m/m and -4.2% y/y, Apr -0.3% m/m and -4.2% y/y.
		Friday, June 10
US	1000 ET	Preliminary-Jun University of Michigan U.S. consumer sentiment expected -0.7 to 94.0, May +5.7 to 94.7.
	1200 ET	USDA Jun WASDE crop production.
	1400 ET	May monthly budget statement expected -$56.0 billion, Apr +$106.452 billion.
JPN	0030 ET	Japan Apr tertiary industry index expected +0.6% m/m, Mar -0.7% m/m.
GER	0200 ET	Revised German May CPI (EU harmonized), preliminary-May +0.4% m/m and unch y/y.
	0200 ET	German May wholesale price index, Apr +0.3% m/m and -2.7% y/y.
EUR	0815 ET	ECB Vice President Vitor Constancio speaks at a Bundesbank conference on Monetary, Financial and Fiscal Stability.
UK	0430 ET	UK Apr construction output expected +1.4% m/m and -4.8% y/y, Mar -3.6% m/m and -4.5% y/y.
CHI	0130 ET	China May industrial production expected +6.0% y/y, Apr +6.0% y/y.
	0130 ET	China May retail sales expected +10.1% y/y, Apr +10.1% y/y.
JPN	1950 ET	Japan Q2 BSI large manufacturing business conditions, Q1 -7.9. Q2 BSI large all-industry business conditions, Q1 -3.2.

U.S. STOCK CALENDAR06/09/2016

Company	Ticker	Time	Event Description	Period	Estimate
Endo International PLC	ENDP US	3:00	Annual General Meeting	Y 2016
JM Smucker Co/The	SJM US	Bef-mkt	Q4 2016 Earnings Release	Q4 2016	1.205
Brinker International Inc	EAT US	8:30	Investor Day	Y 2016
Lincoln National Corp	LNC US	8:30	Investor Meeting	Y 2016
JM Smucker Co/The	SJM US	8:30	Q4 2016 Earnings Call	Q4 2016
Omega Healthcare Investors Inc	OHI US	10:00	Annual General Meeting	Y 2016
Visteon Corp	VC US	11:00	Annual General Meeting	Y 2016
Entergy Corp	ETR US	12:30	Analyst Day	Y 2016
LinkedIn Corp	LNKD US	13:00	Annual General Meeting
Zynga Inc	ZNGA US	13:00	Annual General Meeting
H&R Block Inc	HRB US	16:30	Q4 2016 Earnings Call	Q4 2016
H&R Block Inc	HRB US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	3.168
American Airlines Group Inc	AAL US		May 2016 Sales and Revenue Release - Traffic Results	2016
Equifax Inc	EFX US		Investors Meeting - Toronto	Y 2016
Public Service Enterprise Group Inc	PEG US		Investor Meeting	Y 2016
Credit Acceptance Corp	CACC US		Annual General Meeting
VeriSign Inc	VRSN US		Annual General Meeting
CoStar Group Inc	CSGP US		Annual General Meeting
Netflix Inc	NFLX US		Annual General Meeting
Intrexon Corp	XON US		Annual General Meeting
Splunk Inc	SPLK US		Annual General Meeting
CST Brands Inc	CST US		Annual General Meeting