BARCHART MORNING CALL /

BARCHART MORNING CALL

Monday, June 29th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 -1.01%) are down sharply by -1.12% at a 1-1/2 month low and European stocks are down-3.75% at a 1-week low on concern Greece will be forced to leave the Eurozone. The 10-year German bund yield sank to a 3-1/2 week low of 0.705% on increased safe-haven demand for government bonds from the Greek turmoil. Greece closed banks until at least July 6 and imposed capital controls in an attempt to avert a run on its banks. Trading on the Athens Stock Exchange will be closed as well until Jul 6. The move follows a breakdown of talks Friday between Greece and its creditors and Greek Prime Minister Tsipras's surprise announcement that he will put creditors’ demands up for a referendum to the Greek people to vote on July 5. The ECB on Sunday froze the level of emergency funds available to Greek banks at Friday's level of 89 billion euros. Asian stocks closed sharply lower: Japan -2.88%, Hong Kong -2.61%, China -3.34%, Taiwan -6.73%, Australia -2.23%, Singapore -1.23%, South Korea -1.27%, India -0.60%. China's Shanghai Composite dropped % to a 2-3/4 month low, despite the cut in interest rates by the PBOC on Saturday for the fourth time since Nov.
Commodity prices are mixed. Aug crude oil (CLQ15 -2.23%) is down -2.38% at a 3-week low, Aug gasoline (RBQ15 -1.31%) is down -1.66%. Metals prices are mixed. Aug gold (GCQ15 +0.40%) is up +0.31%. Jul copper (HGN15 -0.55%) is down -0.81. Agricultural prices are higher with Jul wheat up +0.53% at a 5-3/4 month high.
The dollar index (DXY00 +0.16%) is up +0.10% at a 3-week high. EUR/USD (^EURUSD) is down -0.46% at a 3-1/2 week low. USD/JPY (^USDJPY) is down -0.82% at a 1-month low as the plunge in global equity markets boosts safe-haven demand for the yen.

Sep T-note prices (ZNU15 +0.75%) are up +1-05/32 points at a 3-1/2 week high.
The PBOC cut interest rates for the fourth time since Nov on Saturday when they lowered the 1-year lending rate by -25 bp to 4.85% and the 1-year deposit rate by 25 bp to 2.00%, and said reserve ratios for some lenders including city commercial and rural commercial banks will be cut by 50 bp.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) May pending home sales (expected +1.4% m/m and +11.6% y/y after April's +3.4% m/m and +13.4% y/y), and (2) Jun Dallas Fed manufacturing outlook (expected +4.8 to -16.0 after May's -4.8 to -20.8).
None of the Russell 1000 companies report earnings today.
U.S. IPO's scheduled to price today include: none.
Equity conferences this week include: Nasdaq Investor Program Conference on Tue

OVERNIGHT U.S. STOCK MOVERS

Qualcomm (QCOM -0.90%) was downgraded to 'Sell' from 'Hold' at Drexel Hamilton.
JPMorgan Chase (JPM +0.44%) downgraded to Perform from Outperform at Oppenheimer.
Ternium (TX -1.08%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Tesla shares (TSLA -0.63%) have 'substantially' more upside, says Credit Suisse.
Synaptics (SYNA -3.90%) was upgraded to 'Outperform' from 'Perform' at Oppenheimer.
Chesapeake (CHK +0.45%) was upgraded to 'Buy' from 'Underperform' at Sterne Agee CRT.
Ryder (R -0.67%) and Old Dominion (ODFL -0.23%) were both upgraded to 'Buy' from 'Hold' at Stifel.
Macy's(M +0.98%) was downgraded to 'Sell' from 'Buy' at Deutsche Bank.
LifePoint (LPNT +0.59%) was upgraded to 'Buy' from 'Neutral' at Mizuho.
LinkedIn (LNKD -0.90%) filed to sell 3.57 million shares of Class A common stock for holders.
First Light Asset reported a 5.16% passive stake in Streamline Health (STRM +6.93%) .
J.B. Hunt (JBHT -0.12%) will replace Integrys Energy (TEG +0.70%) in the S&P 500 as of the close of trading on Tuesday, June 30.

MARKET COMMENTS

September E-mini S&Ps (ESU15 -1.01%) this morning are down -23.50 points (-1.12%) at a 1-1/2 month low. Friday's closes: S&P 500 -0.04%, Dow Jones +0.31%, Nasdaq -0.66%. The S&P 500 on Friday rebounded from a 1-week low and closed little changed. The main supportive factor was the +1.5 point increase in the final-June U.S. consumer sentiment index, better than expectations of unchanged at 94.6 and the highest level in 5 months. The main negative factor was the decline in tech stocks sparked by an -18% plunge in shares of Micron after it reported weaker-than-expected sales and earnings.
Sep 10-year T-notes (ZNU15 +0.75%) this morning are up +1-05/32 points at a 3-1/2 week high. Friday's closes: TYU5 -18.00, FVU5 -8.50. Sep 10-year T-note futures prices on Friday fell to a 9-month nearest-futures low and closed lower. The main bearish factor was the stronger-than-expected Jun University of Michigan U.S. consumer sentiment report, which bolstered the case for a Fed interest rate increase sooner rather than later.
The dollar index (DXY00 +0.16%) this morning is up +0.100 (+0.10%) at a 3-week high. EUR/USD (^EURUSD) is down -0.0051 (-0.4%) at a 3-week low. USD/JPY (^USDJPY) is down -1.01 (-0.82%) at a 1-month low. Friday's closes: Dollar Index +0.285 (+0.30%), EUR/USD -0.00413 (-0.37%), USD/JPY +0.204 (+0.17%). The dollar index on Friday rallied to a 2-week high and closed higher on (1) the larger-than-expected increase in the Jun U.S. consumer sentiment index to a 5-month high, and (2) weakness in EUR/USD which fell to a 2-week low as the unresolved Greek debt crisis increased the risk of a Greek default.
Aug WTI crude oil (CLQ15 -2.23%) this morning is down -$1.42 a brrrel (-2.38%) at a 3-week low. Aug gasoline (RBQ15 -1.31%) is down -0.0336 (-1.66%). Friday's closes: CLQ5 -0.07 (-0.12%), RBQ5 +0.0077 (+0.38%). Aug crude oil and gasoline settled mixed Friday with Aug crude at a 2-week low. Negative factors included the rally in the dollar index to a 2-week high and concern that the U.S. crude oil supply glut will persist with U.S. crude oil inventories 84 million bbl above the 5-year average for this time of year.

GLOBAL EVENT CALENDAR06/29/2015

US	1000 ET	May pending home sales expected +1.4% m/m and +11.6% y/y, Apr +3.4% m/m and +13.4% y/y.
	1030 ET	Jun Dallas Fed manufacturing outlook expected +4.8 to -16.0, May -4.8 to -20.8.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA weekly crop progress.
UK	0430 ET	UK May net consumer credit expected +1.2 billion pounds, Apr +1.2 billion pounds.
	0430 ET	UK May mortgage approvals expected 68,800, Apr 68,100.
	0430 ET	UK May M4 money supply, Apr +0.4% m/m and unch y/y.
	1905 ET	UK Jun GfK consumer confidence expected +1 to 2, May 1.
EUR	0500 ET	Eurozone Jun economic confidence expected unch at 103.8. Jun business climate indicator expected -0.01 to 0.27, May 0.28.
	0500 ET	Revised Eurozone Jun consumer confidence, previous unch at -5.6.
GER	0800 ET	German Jun CPI (EU harmonized) expected +0.1% m/m and +0.4% y/y, May +0.1% m/m and +0.7% y/y.
JPN	2130 ET	Japan May labor cash earnings expected +0.7% y/y, Apr +0.7% y/y. May real cash earnings expected +0.2% y/y, Apr -0.1% y/y.

U.S. STOCK CALENDAR06/29/2015

Company	Ticker	Time	Event Description	Period	Estimate
Harmonic Inc	HLIT US	16:00	Annual General Meeting
Investors Real Estate Trust	IRET US	16:30	Q4 2015 Earnings Release	Q4 2015	0.163
Apollo Education Group Inc	APOL US	17:00	Q3 2015 Earnings Call	Q3 2015
Apollo Education Group Inc	APOL US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.473
Fenix Parts Inc	FENX US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.045
Biglari Holdings Inc	BH US		Q2 2015 Earnings Release	Q2 2015	1.45
General Communication Inc	GNCMA US		Annual General Meeting
Isramco Inc	ISRL US		Annual General Meeting
Spectrum Pharmaceuticals Inc	SPPI US		Annual General Meeting

BARCHART MORNING CALL 11/21

BARCHART MORNING CALL

Friday, November 21st, 2014View Older Reports

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

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ14 +0.69%) this morning are up +0.65% at a record high and European stocks are up +2.03% at a 1-1/2 month high after China cut interest rates for the first time in over 2 years. European stocks and government bonds received an additional boost after ECB President Draghi reiterated his commitment to raising inflation as fast as possible, which suggests the ECB may implement full-blown quantitative easing. Asian stocks closed mostly higher: Japan +0.33%, Hong Kong +0.37%, China +1.83%, Taiwan +0.14%, Australia -0.22%, Singapore +0.90%, South Korea +0.38%, India +0.95%. The Asian markets have yet to react to the news that China lowered interest rates as the PBOC cut rates after the Asian markets were closed. However, during today's trading session the Shanghai Stock Index rallied after the PBOC added money to the banking system to stem a cash squeeze. A cash shortage stemming from new share sales spiked China's 7-day repurchase rate, a gauge of cash availability in the banking system, by as much as 322 bp to a 9-1/2 month high of 6.50%. According to two people with direct knowledge of the matter, the PBOC offered 50 billion yuan ($8.2 billion) into the banking system using Short-term Liquidity Operations in an attempt to bring down money-market rates. Commodity prices are mixed. Dec crude oil (CLF15 +2.43%) is up +1.86% at a 1-week high. Dec gasoline (RBF15 +2.47%) is up +2.15% at a 1-week high. Dec gold (GCZ14 +0.47%) is up +0.22%. Dec copper (HGZ14 +1.32%) is up +1.37%. Agriculture prices are lower. The dollar index (DXY00 +0.64%) is up +0.71%. EUR/USD (^EURUSD) is down -0.85%. USD/JPY (^USDJPY) is down -0.22% as the yen fell after Japanese Finance Minister Aso said the speed of the yen's depreciation has been "too rapid." Dec T-note prices (ZNZ14 -0.09%) are down -5.5 ticks.
The People's Bank of China (PBOC) cut interest rates for the first time since Jul 2012 as they lowered the 1-year deposit rate by -25 bp to 2.75% and cut the 1-year lending rate by -40 bp to 5.60% effective Nov 22.
ECB President Draghi said that shorter-term inflation expectations "have been declining to levels that I would deem excessively low" and that "we will do what we must to raise inflation and inflation expectations as fast as possible, as our price-stability mandate requires."
UK Oct public sector net borrowing rose +7.1 billion pounds, slightly more than expectations of +7.0 billion pounds. Sep was revised lower to an increase of +10.6 billion pounds from the originally reported +11.1 billion pounds.

U.S. STOCK PREVIEW

There are no major U.S. economic reports today.  There are 2 of the Russell 1000 companies that report earnings today:  Foot Locker (consensus $0.79), Sirona Dental Systems (0.90).  Equity conferences today include:  Morgan Stanley European Technology, Media & Telecoms Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Foot Locker (FL +1.44%) reported Q3 EPS of 83 cents, better than consensus of 79 cents.
Citigroup reiterates its 'Buy' rating on DISH Network (DISH -3.27%) and raised its price target on the stock to $94 from $79.
Intel (INTC +4.66%) was downgraded to 'Sell' from 'Underperform' at CLSA.
eBay (EBAY -0.73%) was downgraded to 'Sell' from 'Hold' at Evercore ISI.
Dillard's (DDS +9.28%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Park West Asset Management reported a 5.1% passive stake in Eagle Pharmaceuticals (EGRX +1.28%) .
Yum! Brands (YUM +2.08%) board authorized the company to repurchase up to $1 billion in additional shares of common stock.
Marvell (MRVL -0.52%) reported Q3 EPS of 29 cents, right on consensus, although Q3 revenue of $930.14 million was below consensus of $976.14 million.
Autodesk (ADSK -1.17%) rose over 3% in after-hours trading after it reported Q3 adjusted EPS of 25 cents, above consensus of 22 cents.
The Fresh Market (TFM +0.43%) fell nearly 2% in after-hours trading after it reported Q3 adjusted EPS of 27 cents, weaker than consensus of 28 cents.
GameStop (GME +0.60%) dropped over 10% in after-hours trading after it reported Q3 adjusted EPS of 57 cents, less than consensus of 61 cents.
The Gap (GPS +1.52%) slipped over 3% in after-hours trading after it reported Q3 EPS with benefits of 80 cents, above consensus of 79 cents, but then lowered guidance on fiscal 2014 EPS view to $2.73-$2.78, below consensus of $2.82.
Ross Stores (ROST +1.28%) climbed over 4% in after-hours trading after it reported Q3 EPS of 93 cents, better than consensus of 87 cents, and then raised guidance on fiscal 2014 EPS to $4.28-$4.32, higher than consensus of $4.27.
Intuit (INTU -0.75%) rose nearly 2% in after-hours trading after it reported a Q1 adjusted EPS loss of -10 cents, less than consensus of a -20 cent loss.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 +0.69%) this morning are up +13.25 points (+0.65%) at a new record high. The S&P 500 index on Thursday shook off early losses and closed higher: S&P 500 +0.20%, Dow Jones +0.19%, Nasdaq +0.46%. Bullish factors included (1) the +1.5% increase in U.S. Oct existing home sales to a 13-month high of 5.26 million, better than expectations of -0.4% to 5.15 million, and (2) the +20.1 point surge in the Nov Philadelphia Fed manufacturing index to a 20-3/4 year high of 40.8, stronger than expectations of -2.2 to 18.5. Negative factors centered on global growth concerns after (1) the China Nov HSBC manufacturing PMI fell -0.4 to a 6-month low of 50.0, and (2) the unexpected -0.7 decline in the Eurozone Nov composite PMI to 51.4, the weakest pace of expansion in 16 months.
Dec 10-year T-notes (ZNZ14 -0.09%) this morning are down -5.5 ticks. Dec 10-year T-note futures prices on Thursday closed higher: TYZ4 +5.50, FVZ4 +3.50. Bullish factors included (1) reduced inflation concerns after the 10-year inflation breakeven rate fell to a 16-month low, and (2) global economic concerns after manufacturing activity slowed in China and in the Eurozone. T-notes fell back from their best levels after (1) Oct existing home sales rose more-than-expected to a 13-month high, and (2) the Nov Philadelphia manufacturing index unexpectedly rose to its fastest pace of expansion in 20-3/4 years.
The dollar index (DXY00 +0.64%) this morning is up +0.622 (+0.71%). EUR/USD (^EURUSD) is down -0.0107 (-0.85%). USD/JPY (^USDJPY) is down -0.26 (-0.22%). The dollar index on Thursday closed little changed. Closes: Dollar index -0.056 (-0.60%), EUR/USD +0.00148 (+0.12%), USD/JPY +0.241 (+0.20%). Dollar losses were limited on (1) signs of strength in the U.S. economy after Oct existing home sales rose to a 13-month high and Oct leading indicators rose more than expected, and (2) weakness in the yen as USD/JPY posted a new 7-year high as Japanese lawmakers prepare for early elections in which Prime Minister Abe will seek a new mandate for economic stimulus.
Jan WTI crude oil (CLF15 +2.43%) this morning is up +$1.26 a barrel (+1.66%) at a 1-week high and Jan gasoline (RBF15 +2.47%) is up +0.0434 (+2.15%) at a 1-week high. Jan crude and Dec gasoline on Thursday closed higher. Closes: CLF5 +1.35 (+1.81%), RBF5 +0.0055 (+0.27%). Bullish factors included (1) a weaker dollar, and (2) strength in the U.S. economy after U.S. Oct existing home sales unexpectedly rose to a 13-month high and the Nov Philadelphia Fed manufacturing index unexpectedly surged to its fastest pace of expansion in 20-3/4 years.

GLOBAL EVENT CALENDAR11/21/2014

US	1100 ET	Nov Kansas City Fed manufacturing activity expected +2 to 6, Oct -2 to 4.
	1500 ET	USDA Oct Cattle on Feed.
	1500 ET	USDA Oct Cold Storage.
UK	0430 ET	UK Oct public sector net borrowing expected +7.0 billion pounds, Sep +11.1 billion pounds.

U.S. STOCK CALENDAR11/21/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
Foot Locker Inc	FL US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.789
Sirona Dental Systems Inc	SIRO US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.903
Tyco International Plc	TYC US	8:30	Investor Day	Y 2014
Sirona Dental Systems Inc	SIRO US	8:30	Q4 2014 Earnings Call	Q4 2014
Foot Locker Inc	FL US	9:00	Q3 2015 Earnings Call	Q3 2015
Integrys Energy Group Inc	TEG US	11:00	Extraordinary Shareholders Meeting - M&A Vote	Y 2014
Wisconsin Energy Corp	WEC US	11:00	Extraordinary Shareholders Meeting	Y 2014
Principal Financial Group Inc	PFG US	11:30	Investor Meeting	Y 2014
Donaldson Co Inc	DCI US	13:00	Annual General Meeting
Walt Disney Co/The	DIS US		U.S. Box Office Release of Movie McFarland""

5 Interesting Large Caps

I wanted to find 5 Large Caps with good momentum so I used Barchart to sort the S&P 500 Large Cap Index stocks for the ones with the most frequent new highs in the last month, then used the Flipchart feature to review the charts.  Today's list includes Health Care REIT (HCN), Scana Corp (SCG), Essex Properties (ESS), Integrys Energy (TEG) and Macerich (MAC):

Health Care REIT (HCN)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above ts 20, 50 and 100 day moving averages
• 20 new highs and up 15.05% in the last month
• Relative Strength Index 81.29%
• Barchart computes a technical support level at 70.36
• Recently traded at 72.23 with a 50 day moving average of 66.19

Scana Corp (SCG)

Barchart technical indicators:

• 80% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 14.08% in the last month
• Relative Strength Index 74.53%
• Barchart computes a technical support level at 54.72
• Recently traded at 55.35 with a 50 day moving average of 51.07

Essex Properties (ESS)

Barchart technical indicators:

• 88% Barchart technical buy signals
• Trend Spotter buy signals
• Above its 20. 50 and 100 day moving averages
• 17 new highs and up 13.68% in the last month
• Relative Strength Index 84.19%
• Barchart computes a technical support level at 200.99
• Recently traded at 204.56 with a 50 day moving average of 188.04

Integrys Energy (TEG)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 16 new highs and up 10.90% in the last month'
• Relative Strength Index 70.29%
• Barchart computes a technical support level at 71.39
• Recently traded at 72.34 with a 50 day moving average of 67.78

Macerich (MAC)

Barchart technical indicators:

• 88% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 16 new Hg's and up 10.90% in the last month
• Relative Strength Index 77.00%
• Barchart computes a technical support level at 71.33
• Recently traded at 71.33 with a 50 day moving average of 65.96

Barchart Morning Call 8/5

Barchart Morning Call

BC - 2 hrs 19 mins ago

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 -0.07%) this morning are down -0.06%, although European stocks are up +0.03% after the Eurozone July PMI composite was revised up to its best level in nearly 2-years and after Eurozone Sentix Aug investor confidence climbed to its best level in 6-months. Asian stocks closed mixed: Japan -1.44%, Hong Kong +0.14%, China +1.38%, Taiwan +0.48%, Australia -0.11%, Singapore -0.38%, South Korea -0.43%, India +0.10%. Chinese stocks closed higher after the China July non-manufacturing index gained for the first time since March. Commodity prices are mixed. Sep crude oil (CLU13 -0.81%) is down -0.60%. Sep gasoline (RBU13 -0.77%) is down -0.52%, Dec gold (GCZ13 -0.23%) is down -0.11%, and Sep copper (HGU13 -0.57%) is down -0.47%. Agricultural prices are mixed. The dollar index (DXY00 unch) is down -0.03%. EUR/USD (^EURUSD) is down -0.06% and USD/JPY (^USDJPY) is down -0.44%. September T-note prices (ZNU13 -0.10%) are down -4.5 ticks.
Eurozone Jun retail sales fell -0.5% m/m and -0.9% y/y, better than expectations of -0.7% m/m and -1.3% y/y.
Eurozone Aug Sentix investor confidence rose +7.7 to -4.9, stronger than expectations of +2.6 to -10.0 and its best level in 6 months.
The Eurozone July PMI composite was revised up +0.1 to 50.5 from the originally reported 50.4, its fastest pace of expansion in 23-months.
UK July PMI services climbed +3.3 to 60.2, stronger than expectations of +0.5 to 57.4 and its fastest pace of expansion in 6-1/2 years.
The China July non-manufacturing PMI released late last Friday, rose +0.2 from Jun to 54.1, its first increase since March.

U.S. STOCK PREVIEW

Today’s July ISM non-manufacturing index is expected to show an increase of +0.9 to 53.1, reversing part of the -1.5 point decline to the 3-1/3 year low of 52.2 seen in June.  There are 6 of the S&P 500 companies that report earnings today:  Tyson Foods (consensus $0.60), Unum (0.79), Dun & Bradstreet (1.52), Vornado Realty Trust (1.21), Macerich Co (0.81), and Integrys Energy Group (0.37).  Conferences this week include the Mitsubishi Technology Tour on Mon-Thu, Needham Software and Services Conference on Tue, Mitsubishi UFJ Securities Healthcare Corporate Accesson Tue, JP Morgan Oil & Gas Corporate Access on Wed, Goldman Sachs Power and Utility Conferenceon Thu, and Nasdaq Summer Analyst Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Tyson Foods (TSN +0.18%) reported Q3 EPS of 69 cents, stronger than consensus of 60 cents, and raised its 2013 fiscal year revenue estimate to $34.5 billion, higher than consensus of $34.21 billion.
Jacobs Engineering (JEC +1.37%) was downgraded to "Neutral" from "Outperform" at RW Baird.
Whole Foods (WFM -0.53%) was upgraded to "Outperform" from "Market Perform" at Williams Capital.
JPMorgan reiterates is "Overweight" rating on priceline.com (PCLN +0.44%) as it raised its price target on the stock to $1,040 from $830 after factoring in the Kayak acquisition into its estimates.
According to The Verge, Microsoft (MSFT +0.69%) cut the price of its Surface Pro tablets by $100.
Fossil (FOSL +0.20%) was downgraded to "Underweight" from "Equal Weight" at Barclays.
Chubb (CB -0.34%) was downgraded to "Hold" from "Buy" at Deutsche Bank.
Piper Jaffray reiterated its "Overweight" recommendation on Facebook (FB +1.49%) as it raised its price target on the stock to $46 from $38.
CBOE Holdings (CBOE +0.08%) was downgraded to "Neutral" from "Buy" at Goldman due to valuation.
General Dynamics (GD +0.78%) was awarded a $212 million U.S. Navy contract for the design and construction of a steel superstructure and construction of an aft peripheral vertical launching system for DDG 1002.
Berkshire Hathaway (BRK.B +0.46%) rose over 1% in pre-market trading after it reported Q2 operating EPS of $2,384, better than consensus of $2,166.
S.A.C. Capital reported 5.2% passive stake in Foster Wheeler (FWLT +1.06%) .

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 -0.07%) this morning are down -1.00 point (-0.06%). The S&P 500 index on Friday opened lower after July non-farm payrolls rose +162,000, weaker than expectations of +185,000 and the smallest increase in 4 months. However, the S&P 500 recovered its losses, posted a new record high, and finished slightly higher on expectations that the weaker-than-expected payrolls report will keep the Fed from tapering QE3. Closes: S&P 500 +0.16%, Dow Jones +0.19%, Nasdaq 100 +0.55%.
Sep 10-year T-notes (ZNU13 -0.10%) this morning are down -4.5 ticks. Sep 10-year T-note prices on Friday rebounded from a 3-week low and closed sharply higher after the smaller-than-expected increase in U.S. July non-farm payrolls bolstered speculation the Fed will not taper QE3 anytime soon. Closes: TYU3 -1-6.50, FVU3 +22.50.
The dollar index (DXY00 unch) this morning is down -0.025 (-0.03%). EUR/USD (^EURUSD) is down -0.0008 (-0.06%) and USD/JPY (^USDJPY) is down -0.44 (-0.44%). The dollar index on Friday fell back from a 1-1/2 week high and closed lower after the smaller-than-expected increase in July non-farm payrolls dampened speculation the Fed will curb QE3 anytime in the near future. Closes: Dollar index -0.428 (-0.52%), EUR/USD +0.00626 (+0.47%), USD/JPY -0.631 (-0.63%).
Sep WTI crude oil (CLU13 -0.81%) this morning is down -64 cents a barrel (-0.54%) and Sep gasoline (RBU13 -0.77%) is down -0.0157 (-0.52%). Sep crude oil and gasoline prices on Friday closed lower. Sep crude retreated from a 2-week high after U.S. July non-farm payrolls rose only +162,000, weaker than expectations of +185,000 and the smallest gain in 4 months. Declines remain limited as the dollar weakened and after the U.S. State Department said a number of U.S. embassies will close on Aug 4 as a “precautionary” step because of security concerns, which limited further selling of crude on concerns of a terrorist attack in the Middle East or North Africa over the weekend. Closes: CLU3 -0.95 (-0.88%), RBU3 -0.0337 (-1.11%).

GLOBAL EVENT CALENDAR08/05/2013

US	1000 ET	July ISM non-manufacturing index expected +0.9 to 53.1, Jun -1.5 to 52.2.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Crop Progress.
GER	0355 ET	Revised German July PMI services, previous 52.5.
EUR	0400 ET	Revised Eurozone July PMI composite, previous 50.4.
	0430 ET	Eurozone Aug Sentix investor confidence expected +2.6 to -10.0, July -12.6.
	0500 ET	Eurozone Jun retail sales expected -0.7% m/m and -1.3% y/y, May +1.0% m/m and -0.1% y/y.
UK	1901 ET	UK July BRC sales like-for-like expected +2.0% y/y, Jun +1.4% y/y.

U.S. STOCK CALENDAR08/05/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
Fastenal Co	FAST US	7:00	July 2013 Sales and Revenue Release	2013
Tyson Foods Inc	TSN US	7:30	Q3 2013 Earnings Release	Q3 2013	0.602
Tyson Foods Inc	TSN US	9:00	Q3 2013 Earnings Call	Q3 2013
Dun & Bradstreet Corp/The	DNB US	Aft-mkt	Q2 2013 Earnings Release	Q2 2013	1.52
Vornado Realty Trust	VNO US	Aft-mkt	Q2 2013 Earnings Release	Q2 2013	1.208
Macerich Co/The	MAC US	Aft-mkt	Q2 2013 Earnings Release	Q2 2013	0.813
Integrys Energy Group Inc	TEG US	Aft-mkt	Q2 2013 Earnings Release	Q2 2013	0.374
Teradata Corp	TDC US		Roadshow - Tokyo	Y 2013
TECO Energy Inc	TE US		Roadshow - Boston	Y 2013
Walgreen Co	WAG US		July 2013 Sales and Revenue Release	2013

Barchart Morning Call 5/2

BARCHART MORNING CALL

Thursday, May 2nd, 2013View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM13 +0.24%) this morning are up +0.29% and European stocks are down -0.04% ahead of an expected 25 bp rate cut by the ECB later this morning. Asian stocks closed mixed: Japan -0.76%, Hong Kong -0.30%, China +0.10%, Taiwan +0.43%, Australia -0.70%, Singapore +1.02%, South Korea -0.31%, India +1.19%. Spain's 10-year bond yield fell to 4.08%, a 2-1/2 year low, while France's 10-year bond yield fell to 1.69%, a record low on expectations the ECB will cut the benchmark rate to a record low of 0.50% today. Commodity prices are higher. June WTI crude oil (CLM13 +0.54%) is up +0.58%, June gasoline (RBM13 +0.26%) is up +0.35%, June natural gas (NGM13 +0.55%) is up +0.67%, June gold (GCM13 +0.80%) is up +0.61%, July copper (HGN13 +1.46%) is up +1.36%. Agriculture prices are higher as well. The dollar index (DXY00 +0.31%) is up +0.23%. EUR/USD (^EURUSD) is down -0.13% and USD/JPY (^USDJPY) is down -0.01%. June 10-year T-note futures prices (ZNM13 -0.01%) are little changed, down -0.5 of a tick.
The German Apr PMI manufacturing was unexpectedly revised up +0.2 points to 48.1 from 47.9 and the Eurozone Apr PMI manufacturing was also revised up +0.2 points to 46.7 from the originally reported 46.5.
The UK Apr PMI construction climbed +2.2 points to 49.4, stronger than expectations of 48.0.
The French Treasury sold 4.02 billion euros of 10-year debt at an average yield of 1.81%, the lowest on record.
The China Apr HSBC manufacturing PMI fell -1.2 points to 50.4, slightly weaker than expectations of 50.5.
Japan's Apr monetary base surged +23.1% y/y, the most in 2 years and stronger than a +19.8% y/y increase in Mar as the BOJ implements its aggressive QE program and increases its bond purchases.

U.S. STOCK PREVIEW

Today’s weekly initial unemployment claims report is expected to show an increase of +6,000 to 345,000, reversing part of last week’s decline of -16,000 to 339,000. Meanwhile, continuing claims are expected to rise +30,000 to 3.030 million, regaining about one-third of last week’s decline of -93,000 to 3.000 million. Today’s March U.S. trade deficit is expected to narrow mildly to -$42.3 billion from -$43.0 billion in February. The European Central Bank today is expected to cut its refinancing rate by 25 bp to 0.50%, which would be the first rate cut since last July.
Today is a another very busy earnings day with 34 of the S&P 500 companies scheduled to release earnings (please see stock calendar below). Key reports include CME Group, Kellogg, Kraft, Gilead Sciences, and AIG. Major conferences are over for the week.

OVERNIGHT U.S. STOCK MOVERS

CME Group (CME -1.20%) reported Q1 EPS of 73 cents, right on expectations.
Internationap Paper (IP -2.32%) reported Q1 EPS of 65 cents, below consensus of 74 cents.
Cardinal Health (CAH -0.63%) reported Q1 EPS of $1.20, well ahead of expectations of 96 cents.
Marsh & McLennan (MMC -0.47%) reported Q1 EPS of 75 cents, stronger than consensus of 69 cents.
Cigna CI reported Q1 (EPS -0.56%) of $1.72, better than consensus of $1.44.
Becton Dickinson & Co. (BDX -0.76%) reported Q1 EPS of $1.44, stronger than consensus of $1.35.
Integrys Energy (TEG -0.81%) reported Q1 adjusted EPS of $1.76, better than consensus of $1.61.
Archer Daniels (ADM -1.06%) said it will acquire GrainCorp for $3.4 billion Austrailian dollars.
Kindred Healthcare (KND -1.33%) reported Q1 EPS ex-items of 49 cents, higher than consensus of 37 cents.
Bob Evans Farms (BOBE -1.71%) announced that it will restate Q3 earnings results after it identified an error regarding the treatment of intercompany accounts in calculating the net book value of the Mimi's Cafe business segment assets held for sale as recorded by the company in the Q3 of fiscal 2013.
Murphy Oil (MUR -2.08%) reported Q1 EPS of $1.08, stronger than consensus of 97 cents.
PharMerica (PMC -0.85%) reported Q1 EPS of 35 cents, better than consensus of 34 cents.
Marriott (MAR -1.35%) reported Q1 EPS of 43 cents, better than consensus of 40 cents, and raised its guidance on Q2 to 55-59 cents, higher than consensus of 55 cents.
PHH Corp. (PHH -1.38%) reported Q1 EPS of 90 cents, nearly double consensus of 46 cents.
RenaissanceRe (RNR -0.40%) reported Q1 adjusted EPS of $3.92, well ahead of consensus of $3.06.
Lincoln National (LNC -2.03%) reported Q1 EPS of $1.02, weaker than consensus of $1.10.
ManTech (MANT -2.55%) reported Q1 EPS of 54 cents, below consensus of 58 cents.
Con-way (CNW -3.02%) reported Q1 EPS of 19 cents, weaker than consensus of 27 cents.
Archer Daniels (ADM -1.06%) reported Q1 EPS of 48c, weaker than consensus of 52 cents.
Visa (V -1.45%) reported Q2 EPS pf $1.92, better than consensus of $1.81.
MetLife (MET -1.51%) reported Q1 operating EPS of $1.48, stronger than consensus of $1.30.
Facebook (FB -1.22%) fell over 1% in after-hour trading after it reported Q1 adjusted EPS of 12 cents, weaker than consensus of 13 cents.
Las Vegas Sands (LVS unch) reported Q1 EPS of 71 cents, higher than consensus of 67 cents.
CBS (CBS +1.35%) reported Q1 EPS of 73 cents, better than consensus of68 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM13 +0.24%) this morning are up +4.50 points (+0.29%). The S&P 500 index on Wednesday closed lower on signs the global economy is slowing. The China Apr ISM manufacturing index fell -0.3 to 50.6 vs. expectations of -0.2 to 50.7 and the Apr ADP employment change showed less hiring than expected (+119,000 versus expectations of +150,000). Supportive factors included the Fed's post-FOMC statement that it will maintain its QE3 program and the Apr ISM manufacturing index that slowed less than expected (-0.6 to 50.7 vs. expectations of -0.8 to 50.5). Closes: S&P 500 -0.93%, Dow Jones -0.94%, Nasdaq 100 -0.49%.
June 10-year T-notes (ZNM13 -0.01%) this morning are down -0.5 of a tick. June 10-year T-note futures prices on Wednesday posted a new contract high and the 10-year T-note yield fell to a 4-1/2 month low of 1.612% on concerns the global economy is slowing. China's manufacturing activity slowed more than expected in Apr and the Apr ADP employment change showed companies hired fewer workers than expected. Another positive factor for Treasuries was the post-FOMC statement that said the Fed will maintain its bond buying at a pace of $85 billion a month and will continue "until the outlook for the labor market has improved substantially." Closes: TYM3 +8.0, FVM3 +3.5.
The dollar index (DXY00 +0.31%) this morning is up +0.187 (+0.23%). EUR/USD (^EURUSD) is down -0.0017 (-0.13%) and USD/JPY (^USDJPY) is down -0.01 (-0.01%). The dollar index on Wednesday posted a 2-month low and closed lower after the smaller-than-expected increase in the Apr ADP employment change fueled speculation the Fed will maintain its dollar-negative QE3 program. The dollar recovered from its worst levels after the Apr ISM manufacturing index weakened less than expected. EUR/USD climbed to a 2-month high on short covering ahead of Thursday's ECB meeting in which the market expects a 25 bp rate cut. Closes: Dollar index -0.262 (-0.32%), EUR/USD +0.00119 (+0.09%), USD/JPY -0.049 (-0.05%).
June WTI crude oil (CLM13 +0.54%) this morning is up +0.53 (+0.58%) and June gasoline (RBM13 +0.26%) is up +0.0094 (+0.35%). June crude oil and gasoline on Wednesday closed sharply lower with June gasoline falling to a 4-1/2 month low. Concerns over global growth hammered energy prices after the China Apr manufacturing PMI fell more than expected and the Apr ADP employment change showed a smaller-than-expected increase in employment. In addition, weekly EIA data showed U.S. crude inventories for the week ended April 26 soared +6.696 mln bbl to 395.3 mln bbl, more than expectations of a +1.1 million bbl build, to the highest level since records began in 1982. Closes: CLM3 -2.43 (-2.60%), RBM3 -0.0827 (-2.95%).

GLOBAL EVENT CALENDAR05/02/2013

US	0730 ET	Apr Challenger job cuts, Mar +30.0% y/y.
	0830 ET	Weekly initial unemployment claims expected +6,000 to 345,000, previous -16,000 to 339,000. Weekly continuing claims expected +30,000 to 3.030 million, previous -93,000 to 3.000 mln.
	0830 ET	Mar trade balance expected -$42.3 billion, Feb -$43.0 billion.
	0830 ET	Preliminary Q1 non-farm productivity expected 1.0%, Q4 -1.9%. Q1 unit labor costs expected +0.7%, Q4 +4.6%.
	0830 ET	USDA weekly Export Sales.
GER	0355 ET	Revised German Apr PMI manufacturing expected no change at 47.9.
EUR	0400 ET	Revised Eurozone Apr PMI manufacturing expected no change at 46.5.
	0745 ET	ECB announces interest rate decision (expected -0.25 point cut in the 2-week refinancing rate to 0.50%).
	0830 ET	ECB President Mario Draghi speaks at monthly press conference.
UK	0430 ET	UK Apr PMI construction expected +0.8 to 48.0, Mar 47.2.
CH	2100 ET	China Apr non-manufacturing PMI, Mar 55.6.

U.S. STOCK CALENDAR05/02/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
Airgas Inc	ARG US	Bef-mkt	ER	Q4 2013	1.127
Scripps Networks Interactive Inc	SNI US	Bef-mkt	ER	Q1 2013	0.738
Beam Inc	BEAM US	Bef-mkt	ER	Q1 2013	0.539
PG&E Corp	PCG US	Bef-mkt	ER	Q1 2013	0.691
WPX Energy Inc	WPX US	Bef-mkt	ER	Q1 2013	-0.233
PPL Corp	PPL US	Bef-mkt	ER	Q1 2013	0.698
Becton Dickinson and Co	BDX US	Bef-mkt	ER	Q2 2013	1.352
Quanta Services Inc	PWR US	Bef-mkt	ER	Q1 2013	0.304
Denbury Resources Inc	DNR US	Bef-mkt	ER	Q1 2013	0.292
Actavis Inc	ACT US	Bef-mkt	ER	Q1 2013	1.855
Vulcan Materials Co	VMC US	Bef-mkt	ER	Q1 2013	-0.348
Estee Lauder Cos Inc/The	EL US	Bef-mkt	ER	Q3 2013	0.333
Ameren Corp	AEE US	Bef-mkt	ER	Q1 2013	0.28
Cardinal Health Inc	CAH US	Bef-mkt	ER	Q3 2013	0.955
CenterPoint Energy Inc	CNP US	Bef-mkt	ER	Q1 2013	0.366
CME Group Inc/IL	CME US	Bef-mkt	ER	Q1 2013	0.728
International Paper Co	IP US	Bef-mkt	ER	Q1 2013	0.738
Marsh & McLennan Cos Inc	MMC US	Bef-mkt	ER	Q1 2013	0.692
Cigna Corp	CI US	6:30	ER	Q1 2013	1.437
Xcel Energy Inc	XEL US	7:00	ER	Q1 2013	0.449
Becton Dickinson and Co	BDX US	8:00	EC	Q2 2013
Harman International Industries Inc	HAR US	8:00	ER	Q3 2013	0.611
United Parcel Service Inc	UPS US	8:00	SM	Y 2013
Kellogg Co	K US	8:00	ER	Q1 2013	1.023
MetLife Inc	MET US	8:00	EC	Q1 2013
PPL Corp	PPL US	8:30	EC	Q1 2013
Cigna Corp	CI US	8:30	EC	Q1 2013
Tesoro Corp	TSO US	8:30	EC	Q1 2013
Actavis Inc	ACT US	8:30	EC	Q1 2013
Cardinal Health Inc	CAH US	8:30	EC	Q3 2013
CME Group Inc/IL	CME US	8:30	EC	Q1 2013
Marsh & McLennan Cos Inc	MMC US	8:30	EC	Q1 2013
Northeast Utilities	NU US	9:00	EC	Q1 2013
Avon Products Inc	AVP US	9:00	SM
Cabot Oil & Gas Corp	COG US	9:00	SM
EI du Pont de Nemours & Co	DD US	9:00	SM	Y 2013
Unum Group	UNM US	9:00	EC	Q1 2013
Integrys Energy Group Inc	TEG US	9:00	EC	Q1 2013
Sempra Energy	SRE US	9:00	ER	Q1 2013	1.012
International Paper Co	IP US	9:00	EC	Q1 2013
Allstate Corp/The	ALL US	9:00	EC	Q1 2013
Archer-Daniels-Midland Co	ADM US	9:30	SM
Quanta Services Inc	PWR US	9:30	EC	Q1 2013
Newfield Exploration Co	NFX US	9:30	SM	Y 2013
Equifax Inc	EFX US	9:30	SM	Y 2013
Estee Lauder Cos Inc/The	EL US	9:30	EC	Q3 2013
St Jude Medical Inc	STJ US	9:30	SM
Kellogg Co	K US	9:30	EC	Q1 2013
Xcel Energy Inc	XEL US	10:00	EC	Q1 2013
Airgas Inc	ARG US	10:00	EC	Q4 2013
Scripps Networks Interactive Inc	SNI US	10:00	EC	Q1 2013
Beam Inc	BEAM US	10:00	EC	Q1 2013
Fluor Corp	FLR US	10:00	SM
Pioneer Natural Resources Co	PXD US	10:00	EC	Q1 2013
WPX Energy Inc	WPX US	10:00	EC	Q1 2013
Bemis Co Inc	BMS US	10:00	SM	Y 2013
Health Care REIT Inc	HCN US	10:00	SM
Marriott International Inc/DE	MAR US	10:00	EC	Q1 2013
Capital One Financial Corp	COF US	10:00	SM	Y 2013
Duke Energy Corp	DUK US	10:00	SM	Y 2013
Ameren Corp	AEE US	10:00	EC	Q1 2013
Kimberly-Clark Corp	KMB US	10:00	SM
Kimco Realty Corp	KIM US	10:00	EC	Q1 2013
Lincoln National Corp	LNC US	10:00	EC	Q1 2013
PG&E Corp	PCG US	11:00	EC	Q1 2013
Valero Energy Corp	VLO US	11:00	SM	Y 2013
Denbury Resources Inc	DNR US	11:00	EC	Q1 2013
Ecolab Inc	ECL US	11:00	SM	Y 2013
Vulcan Materials Co	VMC US	11:00	EC	Q1 2013
Harman International Industries Inc	HAR US	11:00	EC	Q3 2013
Prudential Financial Inc	PRU US	11:00	EC	Q1 2013
Verizon Communications Inc	VZ US	11:30	SM
CenterPoint Energy Inc	CNP US	11:30	EC	Q1 2013
Eastman Chemical Co	EMN US	11:30	SM	Y 2013
American Express Co	AXP US	11:45	MA
Murphy Oil Corp	MUR US	13:00	EC	Q1 2013
DIRECTV	DTV US	13:00	SM
Sempra Energy	SRE US	13:00	EC	Q1 2013
Dover Corp	DOV US	14:00	SM
EOG Resources Inc	EOG US	16:00	SM
Kraft Foods Group Inc	KRFT US	16:00	ER	Q1 2013	0.639
Gilead Sciences Inc	GILD US	16:05	ER	Q1 2013	0.495
Mylan Inc/PA	MYL US	16:30	EC	Q1 2013
Gilead Sciences Inc	GILD US	16:30	EC	Q1 2013
Teradata Corp	TDC US	16:30	EC	Q1 2013
Prologis Inc	PLD US	16:30	SM	Y 2013
Microchip Technology Inc	MCHP US	17:00	EC	Q4 2013
XL Group PLC	XL US	17:00	EC	Q1 2013
Kraft Foods Group Inc	KRFT US	17:00	EC	Q1 2013
Fluor Corp	FLR US	17:30	EC	Q1 2013
Mylan Inc/PA	MYL US	Aft-mkt	ER	Q1 2013	0.615
American International Group Inc	AIG US	Aft-mkt	ER	Q1 2013	0.878
Fluor Corp	FLR US	Aft-mkt	ER	Q1 2013	0.961
Dun & Bradstreet Corp/The	DNB US	Aft-mkt	ER	Q1 2013	1.395
Teradata Corp	TDC US	Aft-mkt	ER	Q1 2013	0.533
Microchip Technology Inc	MCHP US	Aft-mkt	ER	Q4 2013	0.473
Southwestern Energy Co	SWN US	Aft-mkt	ER	Q1 2013	0.381
XL Group PLC	XL US	Aft-mkt	ER	Q1 2013	0.643
Apartment Investment & Management Co	AIV US	Aft-mkt	ER	Q1 2013	0.455
Allergan Inc/United States	AGN US		MA
Allegheny Technologies Inc	ATI US		SM
DTE Energy Co	DTE US		SM	Y 2013
AutoNation Inc	AN US		SR	2013
Wisconsin Energy Corp	WEC US		SM	Y 2013
First Horizon National Corp	FHN US		SM