5 Small Caps for Momentum Investors

Today I wanted to find 5 Small Caps for momentum investors so I used Barchart to sort the S&P 600 Small Cap Index stocks first for the most frequent new highs in the last month, then again for technical buy signals of 80% or better.  Today's additions to the Watch List include:

Surgical Care Affiliates (SCAI), Cedar Shopping Centers (CDR), Sabra REIT (SBRA),  Oriental Financial Group (OFG) and Universal Forest Products (UFPI)

Surgical Care Affiliates (SCAI)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 13.54% in the last month
• Relative Strength Index 69.26%
• Technical support level at 50.79
• Recently traded at 51.65 with a 50 day moving average of 46.87

Cedar Shopping Centers (CDR)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 13.68% in the last month
• Relative Strength Index 76.19%
• Technical support level at 7.87
• Recently traded at 7.98 with a 50 day moving average of 7.25

Sabra REIT (SBRA)

Barchart technical indicators:

• 80% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 17.97% in the last month
• Relative Strength Index 70.75%
• Technical support level at 22.21
• Recently traded at 23.70 with a 50 day moving average of 21.26

Oriental Financial Group (OFG)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 23.03% in the last month
• Relative Strength Index 75.19%
• Technical support level at 10.00
• Recently traded at 10.31 with a 50 day moving average of 8.74

Universal Forest Products (UFPI)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 22.16% in the last month
• Relative Strength Index 72.83%
• Technical support level at 103.32
• Recently traded at 105.51 with a 50 day moving average of 90.06

BARCHART MORNING CALL 7/16

BARCHART MORNING CALL

Thursday, July 16th, 2015View Older Reports

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

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 +0.39%) are up +0.32% at a 3-week high and European stocks are up +1.42% at a 1-1/2 month high after the Greek parliament approved austerity measures needed as a precondition for a third bailout. European stocks also received a boost after an official familiar with the situation said that Eurozone finance ministers agreed in principle to extend a 7 billion-euro bridge loan to Greece. European automakers led the overall market higher after European car sales last month rose at the fastest pace in 5-1/2 years. Asian stocks closed mostly higher: Japan +0.67%, Hong Kong +0.43%, China +0.46%, Taiwan -0.13%, Australia +0.59%, Singapore +0.44%, South Korea +0.73%, India +0.88%. Japan's Nikkei Stock Index rose to a 2-1/2 week high as a rally in exporters led the overall market higher after the yen slipped to a 3-week low against the dollar.
Commodity prices are mixed. Aug crude oil (CLQ15 +1.23%) is up +0.56%. Aug gasoline (RBQ15 +1.78%) is up +1.36%. Metals prices are mixed. Aug gold (GCQ15 -0.38%) is down -0.38%. Sep copper (HGU15 +0.02%) is up +0.08%. Agricultural prices are mixed.
The dollar index (DXY00 +0.40%) is up +0.44% at a 1-1/2 month high on divergent central bank policies with the Fed expected to raise interest rates while the ECB continues with its quantitative easing program. EUR/USD (^EURUSD) is down -0.49% at a 1-1/2 month low. USD/JPY (^USDJPY) is up +0.22% at a 3-week high as a rally in world stock markets curbs the safe-haven demand for the yen.

Sep T-note prices (ZNU15 -0.26%) are down -13 ticks.
The markets will play close attention to ECB President Draghi's press conference following today's ECB meeting to see how the ECB will support the reopening of Greece's shuttered banks after the Greek Parliament passed new austerity measures that are a precondition for a third bailout. European leaders must agree on some kind of bridge financing to ensure that Greece doesn't miss a 3.5 billion-euro repayment due to the ECB on July 20. Also, a third bailout to Greece must be approved in several Eurozone parliaments, including Germany's. Capital controls in Greece could remain in place indefinitely, and Greece's banks, which have remained closed for more than 2 weeks, may need more liquidity to allow them to reopen.
Eurozone Jun new car registrations climbed +14.6% y/y to 1.364 million, the biggest increase in 5-1/2 years and the 22nd straight month registrations have increased.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) the second day of Fed Chair Janet Yellen's semi-annual testimony to Congressional panels, (2) weekly initial unemployment claims (expected -12,000 to 285,000 after last week's +15,000 to 297,000) and continuing claims (expected -34,000 to 2.300 million after last week's +69,000 to 2.334 million), (3) July NAHB housing market index (expected unchanged at 59 after June's +5 to 59), (4) July Philadelphia Fed business outlook survey (expected -3.2 to 12.0 after June's +8.5 to 15.2).
There are 16 of the S&P 500 companies that report earnings today with notable reports including: Goldman Sachs (consensus $3.96), Citigroup (1.34), Google (6.73), eBay (0.73), Schlumberger (0.79), Cintas (0.85).
U.S. IPO's scheduled to price today include: Rapid7 (RPD), MCBC Holdings (MCFT), Ooma (OOMA), Provident Bancorp (PVBC), WPX Energy (WPX).
Equity conferences during the remainder of this week include: none.

OVERNIGHT U.S. STOCK MOVERS

Goldman Sachs (GS +0.38%) reported Q2 EPS $4.75 ex-items, well above consensus of $3.89.
eBay (EBAY -0.24%) reported Q2 EPS of 76 cents, higher than consensus of 73 cents.
UnitedHealth Group (UNH +0.69%) reported Q2 EPS of $1.64, better than consensus of $1.59.
PPG Industries (PPG -0.54%) reported Q2 EPS of $1.67, above consensus of $1.64.
Sherwin-Williams (SHW -0.75%) reported Q2 EPS of $3.70, below consensus of $3.81.
Domino's Pizza (DPZ -0.21%) reported Q2 EPS of 81 cents, better than consensus of 79 cents.
HD Supply (HDS -0.76%) lowered guidance on Q2 adjusted EPS to 50 cents-56 cents, below consensus of 65 cents.
Starbucks (SBUX -0.74%) was initiated with a 'Buy' at BTIG with a price target of $64.
Chipotle (CMG +0.87%) was initiated with a 'Buy' at BTIG with a price target of $779.
Buffalo Wild Wings (BWLD -1.48%) was initiated with a 'Buy' at BTIG with a price target of $212.
HCA Holdings (HCA -0.63%) lowered guidance on Q2 EPS to about $1.18, less than consensus $1.32, and said Q2 revenue will be $9.9 billion, below consensus of $9.7 billion.
Universal Forest (UFPI -1.42%) reported Q2 EPS of $1.28, above consensus of $1.18, although Q2 revenue of $838.2 million was below consensus of $851.44 million.
Kinder Morgan (KMI -1.16%) reported Q2 EPS of 15 cents, below consensus of 19 cents.
Netflix (NFLX -86.03%) jumped 10% in after-hours trading after it reported Q2 EPS of 6 cents, higher than consensus of 4 cents.
Intel (INTC +0.13%) rose over 4% in after-hours trading after it reported Q2 EPS of 55 cents, better than consensus of 50 cents.

MARKET COMMENTS

September E-mini S&Ps (ESU15 +0.39%) this morning are up +6.75 points (+0.32%) at a fresh 3-week high. Wednesday's closes: S&P 500 -0.07%, Dow Jones -0.02%, Nasdaq +0.11%. The S&P 500 on Wednesday rose to a 2-1/2 week high but fell back and settled little changed. Stocks received a boost from the stronger-than-expected +0.3% increase in U.S. Jun industrial production and strength in biotechnology companies on increased M&A activity after Celgene bought Receptos for $7.2 billion. The stock market was also pleased that China Q2 GDP grew at a +7.0% y/y pace, faster than expectations of +6.8% y/y. Negative factors included (1) weakness in energy producers after crude oil sold off, and (2) comments from Fed Chair Yellen who said the Fed remains on track to raise interest rates this year.
Sep 10-year T-notes (ZNU15 -0.26%) this morning are down -13 ticks. Sep T-notes on Wednesday closed higher: TYU5 +13.00, FVU5 +6.25. Bullish factors included (1) Fed Chair Yellen's testimony to the House Financial Services Committee as she said the Fed's path of interest rate increases will be gradual, and (2) carryover support from strength in German bunds.
The dollar index (DXY00 +0.40%) this morning is up +0.425 (+0.44%) at a 1-1/2 month high. EUR/USD (^EURUSD) is down -0.0054 (-0.49%) at a 1-1/2 month low. USD/JPY (^USDJPY) is up +0.27 (+0.22%) at a 3-week high. The dollar index on Wednesday climbed to a 6-week high and settled higher: Dollar Index +0.523 (+0.54%), EUR/USD -0.00591 (-0.54%), USD/JPY +0.379 (+0.31%).The dollar rallied on (1) Fed Chair Yellen's comment that the Fed expects growth "to strengthen over the remainder of this year," which will allow the Fed to raise interest rates this year, and (2) the stronger-than-expected U.S. June industrial production report of +0.3%.
Aug WTI crude oil (CLQ15 +1.23%) this morning is up +29 cents (+0.56%). Aug gasoline (RBQ15 +1.78%) is up +0.0252 (+1.36%). Aug crude oil and gasoline closed lower Wednesday with Aug gasoline at a 2-3/4 month low: CLQ5 -1.63 (-3.07%), RBQ5 -0.0687 (-3.56%). Negative factors included (1) the rally in the dollar index to a 6-week high, (2) the +3.89 million bbl increase in weekly EIA distillate inventories to a 3-1/4 year high of 141.28 million bbl, more than expectations of +1.5 million bbl, and (3) the +438,000 bbl increase in inventories at Cushing, OK, the delivery point of WTI futures, the third straight increase. The main bullish factor was the -4.346 million bbl draw in weekly EIA crude inventories, more than expectations of -2.0 million bbl.

GLOBAL EVENT CALENDAR07/16/2015

US	0830 ET	Weekly initial unemployment claims expected -12,000 to 285,000, previous +15,000 to 297,000. Weekly continuing claims expected -34,000 to 2.300 million, previous +69,000 to 2.334 million.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Jul NAHB housing market index expected unch at 59, Jun +5 to 59.
	1000 ET	Jul Philadelphia Fed business outlook survey expected -3.2 to 12.0, Jun +8.5 to 15.2.
	1000 ET	Fed Chair Janet Yellen delivers semi-annual testimony to the Senate Banking Committee.
	1100 ET	Treasury announces amount of 10-year TIPS to be auctioned Jul 23 (previous $13 billion).
EUR	0200 ET	Eurozone Jun new car registrations, May +1.3% y/y.
	0500 ET	Revised Eurozone Jun CPI, previous +0.3% y/y and Jun core CPI +0.8% y/y.
	0745 ET	ECB announces interest rate decision.
	0830 ET	ECB President Mario Draghi holds press conference following ECB meeting.

U.S. STOCK CALENDAR07/16/2015

Company	Ticker	Time	Event Description	Period	Estimate
PPG Industries Inc	PPG US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	1.641
Charles Schwab Corp/The	SCHW US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	0.237
BB&T Corp	BBT US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	0.698
UnitedHealth Group Inc	UNH US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	1.585
M&T Bank Corp	MTB US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	1.978
KeyCorp	KEY US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	0.277
eBay Inc	EBAY US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	0.725
Sherwin-Williams Co/The	SHW US	7:00	Q2 2015 Earnings Release	Q2 2015	3.811
Philip Morris International Inc	PM US	7:00	Q2 2015 Earnings Release	Q2 2015	1.129
Goldman Sachs Group Inc/The	GS US	7:30	Q2 2015 Earnings Release	Q2 2015	3.963
Citigroup Inc	C US	8:00	Q2 2015 Earnings Release	Q2 2015	1.342
BB&T Corp	BBT US	8:00	Q2 2015 Earnings Call	Q2 2015
eBay Inc	EBAY US	8:00	Q2 2015 Earnings Call	Q2 2015
Stericycle Inc	SRCL US	8:30	Acquisition of Shred-It International by Stericycle, Inc. Call
UnitedHealth Group Inc	UNH US	8:45	Q2 2015 Earnings Call	Q2 2015
KeyCorp	KEY US	9:00	Q2 2015 Earnings Call	Q2 2015
Philip Morris International Inc	PM US	9:00	Q2 2015 Earnings Call	Q2 2015
Goldman Sachs Group Inc/The	GS US	9:30	Q2 2015 Earnings Call	Q2 2015
M&T Bank Corp	MTB US	10:00	Q2 2015 Earnings Call	Q2 2015
Citigroup Inc	C US	11:00	Q2 2015 Earnings Call	Q2 2015
Sherwin-Williams Co/The	SHW US	11:00	Q2 2015 Earnings Call	Q2 2015
PPG Industries Inc	PPG US	14:00	Q2 2015 Earnings Call	Q2 2015
People's United Financial Inc	PBCT US	16:00	Q2 2015 Earnings Release	Q2 2015	0.212
Google Inc	GOOGL US	16:30	Q2 2015 Earnings Call	Q2 2015
Mattel Inc	MAT US	17:00	Q2 2015 Earnings Call	Q2 2015
Cintas Corp	CTAS US	17:00	Q4 2015 Earnings Call	Q4 2015
People's United Financial Inc	PBCT US	17:00	Q2 2015 Earnings Call	Q2 2015
Mattel Inc	MAT US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	-0.044
Schlumberger Ltd	SLB US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	0.792
Cintas Corp	CTAS US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.846
Google Inc	GOOGL US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	6.726
Iron Mountain Inc	IRM US		Roadshow - Baltimore - Day 3	Y 2015

The 5 Best Small Caps

Today I used Barchart to sort the S&P 600 Small Cap Index stocks for the best technical buy signals, then used the Flipchart feature to find the charts I liked.

Today's list includes Universal Forest Products (UFPI), Texas Roadhouse (TXRH), Resources Connections (RECN), Neogen (NEOG) and Monolithic Power Systems (MPWR):

Universal Forest Products (UFPI)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 8.71% in the last month
• Relative Strength Index 51.63%
• Barchart computes a technical support level at 51.63
• Recently traded at 54.14 with a 50 day moving average of 51.56

Texas Roadhouse (TXRH)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 9.98% in the last month
• Relative Strength Index 71.38%
• Barchart computes a technical support level at 36.00
• Recently traded at 37.57 with  50 day moving average of 34.15

Resources Connections (RECN)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 5.57% in the last month
• Relative Strength Index 68.83%
• Barchart computes a technical support level at 17.34
• Recently traded at 18.15 with a 50 day moving average of 48.18

Neogen (NEOG)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up 4.00% in the last month
• Relative Strength Index 64.13%
• Barchart computes a technical support level at 48.16
• Recently traded at 50.18 with a 50 day moving average of 48.18

Monolithic Power Systems (MPWR)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 10 new highs and up 9.38% in the last month
• Relative Strength Index 70.81%
• Barchart computes a technical support level at 51.25
• Recently traded at 52.52 with a 50 day moving average of 48.58

BARCHART MORNING CALL 10/16

BARCHART MORNING CALL 

Thursday, October 16th, 2014View Older Reports

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

E-mail:

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ14 -1.19%) this morning are down -1.31% and European stocks are down -2.04% at a 13-1/4 month low as global stocks continue their downside correction. Greek government bonds plunged as the 10-year Greek bond yield surged 81 bp to a 9-month high of 8.66% on concern the government won't be able to fund itself adequately if it sticks to plans to leave an international bailout program early. Spain's 10-year government bond yield jumped 23 bp to a 1-month high of 2.34% after it sold 3.2 billion euros of 10-year and 15-year debt, less than a target of 3.5 billion euros. The S&P 500 had recovered from a 6-month low late yesterday and traded higher early in the overnight electronic session after Fed Chair Yellen told a private meeting of the Group of 30 that "she expressed confidence" in the U.S. economic outlook and the economy looked to be on track to achieve growth of around 2%, according to two people familiar with her comments. Asian stocks closed mostly lower: Japan -2.22%, Hong Kong -1.03%, China -0.79%, Taiwan -0.25%, Australia +0.18%, Singapore -1.39%, South Korea -0.44%, India -1.33%. Japanese banks and exporters tumbled and led the overall market lower as the Nikkei Stock Index fell to a 4-1/2 month low, while China's Shanghai Stock Index erased gains and closed lower after a gauge of new credit rose less than expected. Commodity prices are mostly lower. Nov crude oil (CLX14 -1.80%) is down -1.91%. Nov gasoline (RBX14 -0.21%) is down -0.29%. Dec gold (GCZ14 -0.14%) is down -0.17%. Dec copper (HGZ14 -1.40%) is down -1.68% at a 7-month low on global demand concerns amid increasing supplies after LME copper inventories surged +3,025 MT to a 2-3/4 month high of 157,675 MT. Agriculture and livestock prices are mostly lower. The dollar index (DXY00 +0.06%) is up +0.14%. EUR/USD (^EURUSD) is down -0.76%. USD/JPY (^USDJPY) is down -0.26% as the global stock market rout boosts the safe-haven demand of the yen. Dec T-note prices (ZNZ14 +0.53%) are up +21.5 ticks.
China Sep new yuan loans rose +857.2 billion yuan, more than expectations of +750.0 billion yuan, Sep aggregate financing, China's broadest measure of new credit, rose +1.05 trillion yuan, a 3-month high but slightly less than expectations of +1.15 trillion yuan.
China Sep foreign direct investment unexpectedly rose +1.9% y/y, better than expectations of -14.0% y/y and the first increase in 3 months.
Eurozone Sep CPI rose +0.4% m/m, right on expectations and on an annual basis was left unrevised at +0.3% y/y. The Sep core CPI was revised upward to +0.8% y/y from the originally reported +0.7% y/y.

U.S. STOCK PREVIEW

The market is expecting today’s weekly unemployment claims report to show small changes and remain favorable, near recent 8-1/2 year lows. The market is looking for a favorable Sep industrial production report today after August’s weak report. The market is expecting today’s Oct NAHB housing market index to be unchanged from September’s 8-3/4 year high of 59.
There are 22 of the S&P 500 companies that report earnings today with notable reports including: Goldman Sachs (consensus $3.21), Google (6.53), Capital One (1.94), Fifth Third (0.43), Schlumberger (1.46), Baxter (1.31), UnitedHealth Group (1.53), Delta Air (1.18), PPG Industries (2.76). Equity conferences during the remainder of this week include: Bloomberg Next Big Thing Summit: East on Thu, and 5th Annual Global Automotive Forum on Thu.

OVERNIGHT U.S. STOCK MOVERS

Mattel (MAT -0.39%) reported Q3 EPS of 98 cents, below consensus of $1.02.
Fifth Third Bancorp (FITB -3.48%) reported Q3 EPS of 39 cents, less than consensus of 43 cents.
Baxter International (BAX -0.76%) reported Q3 EPS of $1.35, better than consensus of $1.31.
UnitedHealth Group (UNH -0.80%) reported Q3 EPS of $1.63, higher than consensus of $1.53.
Goldman Sachs (GS -0.82%) reported Q3 EPS of $4.57, well above consensus of $3.21.
Integrated Core Strategies reported a 4.9% passive stake in Dynegy (DYN -1.20%) .
HNI Corporation (HNI +0.39%) reported Q3 EPS of 81 cents, well above consensus of 71 cents, and then raised guidance on fiscal 2014 EPS view to $1.95-$2.00, better than consensus of $1.82.
Transocean (RIG +1.62%) said it received $610 million in new contracts since its September 22 fleet update.
United Rentals (URI +1.06%) rose over 2% in after-hours trading after it reported Q3 adjusted EPS of $2.20, higher than consensus of $2.08.
eBay (EBAY -0.69%) slipped over 2% in after-hours trading after it reported Q3 EPS of 68 cents, better than consensus of 67 cents, although Q3 revenue of $4.35 billion was below consensus of $4.37 billion. The company then lowered gidance on fiscal 2014 revenue to $17.85 billion - $17.95 billion, weaker than consensus of $18.15 billion.
Las Vegas Sands (LVS +1.19%) reported Q3 EPS of 84 cents, lower than consensus of 85 cents.
American Express (AXP -2.19%) reported Q3 EPS of $1.40, higher than consensus of $1.36.
Netflix (NFLX -0.12%) plunged over 20% in after-hours trading after it reported Q3 EPS of 96 cents, better than consensus of 93 cents, but then said its sees Q4 EPS of only 44 cents, well below consensus of 85 cents.
Universal Forest (UFPI +4.29%) reported Q3 EPS of 96 cents, weaker than consensus of 99 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 -1.19%) this morning are down -24.25 points (-1.31%). The S&P 500 index on Wednesday slumped to a 6-month low and closed lower. S&P 500 -0.81%, Dow Jones -1.06%, Nasdaq -0.64%. Bearish factors included (1) economic concerns after U.S. Sep retail sales ex-autos unexpectedly fell -0.2%, weaker than expectations of +0.2%, and (2) a fall in airline stocks on concern over the spread of the Ebola virus after a second health-care worker tested positive for the virus and flew on a commercial flight the day before. Stocks recovered from their worst levels on the upbeat Fed Beige Book.
Dec 10-year T-notes (ZNZ14 +0.53%) this morning are up +21.5 ticks. Dec 10-year T-note futures prices on Wednesday rallied sharply to a contract high and the yield on the 10-year T-note yield plummeted to a 1-1/3 year low of 1.862%. Closes: TYZ4 +1-4.00/32, FVZ4 +22.75. Bullish factors include (1) weaker-than-expected U.S. economic data on Sep retail sales and Oct Empire manufacturing that fueled massive capitulation by short-positions as the weak global economic data virtually eliminates the chance of a Fed rate hike in the first half of 2015, and (2) carry-over support from a rally in German bunds to a record high as the 10-year German bund yield tumbled to an all-time low of 0.719%.
The dollar index (DXY00 +0.06%) this morning is up +0.121 (+0.14%). EUR/USD (^EURUSD) is down -0.0098 (-0.76%). USD/JPY (^USDJPY) is down -0.28 (-0.26%). The dollar index on Wednesday fell to a 3-week low and closed lower. Closes: Dollar index -0.675 (-0.79%), EUR/USD +0.01802 (+1.42%), USD/JPY -1.136 (-1.06%). Bearish factors included (1) U.S. economic concerns that dampened speculation the Fed will raise interest rates anytime soon after Sep retail sales fell more than expected, and (2) strength in the yen after USD/JPY rose to a 5-week high as the slump in stocks boosted safe-haven demand for the yen.
Nov WTI crude oil (CLX14 -1.80%) this morning is down -$1.56 (-1.91%) and Nov gasoline (RBX14 -0.21%) is down -0.0063 (-0.29%). Nov crude and Nov gasoline prices on Wednesday closed lower with Nov crude at a 2-1/3 year low and Nov gasoline at a 3-3/4 year low. Closes: CLX4 -0.06 (-0.07%), RBXX4 -0.0315 (-1.44%). Bearish factors included (1) weaker-than-expected U.S. economic data on Sep retail sales and Oct Empire manufacturing activity, and (2) expectations for Thursday’s weekly EIA crude inventories to increase +2.5 million bbl. Prices rose from their worst levels after the dollar index tumbled to a 3-week low.

GLOBAL EVENT CALENDAR10/16/2014

US	0800 ET	Philadelphia Fed President Charles Plosser speaks on the economic outlook to the Lehigh Valley Economic Development Group.
	0830 ET	Weekly initial unemployment claims expected +3,000 to 290,000, previous -1,000 to 287,000. Weekly continuing claims expected -1,000 to 2.380 million, previous -21,000 to 2.381 million.
	0900 ET	Atlanta Fed President Dennis Lockhart speaks at a conference at Rutgers University on Transforming U.S. Workforce Development Policies for the 21st Century.
	0915 ET	Sep industrial production expected +0.4% m/m, Aug -0.1% m/m. Sep manufacturing production expected +0.3% m/m, Aug -0.4% m/m. Sep capacity utilization expected +0.2 to 79.0%, Aug -0.3 to 78.8%.
	1000 ET	Minneapolis Fed President Narayana Kocherlakota delivers a speech titled Clarifying the Objectives of Monetary Policy at an event in Billings, MT.
	1000 ET	Oct Philadelphia Fed manufacturing index expected -2.8 to 19.7, Sep -5.5 to 22.5.
	1000 ET	Oct NAHB housing market index expected unch at 59, Sep +4 to 59.
	1100 ET	EIA Weekly Petroleum Status Report.
	1100 ET	Treasury announces amount of 30-year TIPS to be auctioned Oct 23.
EUR	0500 ET	Revised Eurozone Sep CPI, Sep prelim +0.4% y/y. Revised Sep core CPI, Sep prelim +0.7% y/y.
	0500 ET	Eurozone Aug trade balance (sa) expected 13.3 billion euros, July 12.2 billion euros.

U.S. STOCK CALENDAR10/16/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
PPG Industries Inc	PPG US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	2.757
Delta Air Lines Inc	DAL US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	1.176
BB&T Corp	BBT US	5:45	Q3 2014 Earnings Release	Q3 2014	0.717
Danaher Corp	DHR US	6:00	Q3 2014 Earnings Release	Q3 2014	0.892
UnitedHealth Group Inc	UNH US	6:00	Q3 2014 Earnings Release	Q3 2014	1.529
Mattel Inc	MAT US	6:00	Q3 2014 Earnings Release	Q3 2014	1.02
Baker Hughes Inc	BHI US	6:30	Q3 2014 Earnings Release	Q3 2014	1.131
Fifth Third Bancorp	FITB US	6:30	Q3 2014 Earnings Release	Q3 2014	0.429
Baxter International Inc	BAX US	7:00	Q3 2014 Earnings Release	Q3 2014	1.309
Philip Morris International Inc	PM US	7:00	Q3 2014 Earnings Release	Q3 2014	1.334
Snap-on Inc	SNA US	7:00	Q3 2014 Earnings Release	Q3 2014	1.618
Dover Corp	DOV US	7:00	Q3 2014 Earnings Release	Q3 2014	1.313
Goldman Sachs Group Inc/The	GS US	7:30	Q3 2014 Earnings Release	Q3 2014	3.214
WW Grainger Inc	GWW US	7:30	Q3 2014 Earnings Release	Q3 2014	3.287
Alliance Data Systems Corp	ADS US	7:30	Q3 2014 Earnings Release	Q3 2014	3.307
Navient Corp	NAVI US	8:00	Q3 2014 Earnings Call	Q3 2014
BB&T Corp	BBT US	8:00	Q3 2014 Earnings Call	Q3 2014
Danaher Corp	DHR US	8:00	Q3 2014 Earnings Call	Q3 2014
WW Grainger Inc	GWW US	8:00	Q3 2014 Earnings Call	Q3 2014
Baker Hughes Inc	BHI US	8:30	Q3 2014 Earnings Call	Q3 2014
Baxter International Inc	BAX US	8:30	Q3 2014 Earnings Call	Q3 2014
Alliance Data Systems Corp	ADS US	8:30	Q3 2014 Earnings Call	Q3 2014
Mattel Inc	MAT US	8:30	Q3 2014 Earnings Call	Q3 2014
UnitedHealth Group Inc	UNH US	8:45	Q3 2014 Earnings Call	Q3 2014
Philip Morris International Inc	PM US	9:00	Q3 2014 Earnings Call	Q3 2014
Fifth Third Bancorp	FITB US	9:00	Q3 2014 Earnings Call	Q3 2014
Goldman Sachs Group Inc/The	GS US	9:30	Q3 2014 Earnings Call	Q3 2014
Snap-on Inc	SNA US	10:00	Q3 2014 Earnings Call	Q3 2014
Dover Corp	DOV US	10:00	Q3 2014 Earnings Call	Q3 2014
Delta Air Lines Inc	DAL US	10:00	Q3 2014 Earnings Call	Q3 2014
United Rentals Inc	URI US	11:00	Q3 2014 Earnings Call	Q3 2014
Apple Inc	AAPL US	11:30	Special Media Event
PPG Industries Inc	PPG US	14:00	Q3 2014 Earnings Call	Q3 2014
Stryker Corp	SYK US	16:00	Q3 2014 Earnings Release	Q3 2014	1.138
People's United Financial Inc	PBCT US	16:00	Q3 2014 Earnings Release	Q3 2014	0.211
Capital One Financial Corp	COF US	16:05	Q3 2014 Earnings Release	Q3 2014	1.941
Xilinx Inc	XLNX US	16:20	Q2 2015 Earnings Release	Q2 2015	0.556
Google Inc	GOOGL US	16:30	Q3 2014 Earnings Call	Q3 2014
Stryker Corp	SYK US	16:30	Q3 2014 Earnings Call	Q3 2014
Capital One Financial Corp	COF US	17:00	Q3 2014 Earnings Call	Q3 2014
Xilinx Inc	XLNX US	17:00	Q2 2015 Earnings Call	Q2 2015
SanDisk Corp	SNDK US	17:00	Q3 2014 Earnings Call	Q3 2014
People's United Financial Inc	PBCT US	17:00	Q3 2014 Earnings Call	Q3 2014
Schlumberger Ltd	SLB US	Aft-mkt	Q3 2014 Earnings Release	Q3 2014	1.461
Google Inc	GOOGL US	Aft-mkt	Q3 2014 Earnings Release	Q3 2014	6.533
SanDisk Corp	SNDK US	Aft-mkt	Q3 2014 Earnings Release	Q3 2014	1.332
Pfizer Inc	PFE US		FDA Adcomm, Chantix, risk of serious neuropsychiatric adverse events

Barchart Morning Call 10/17

BARCHART MORNING CALL

Thursday, October 17th, 2013View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ13 -0.07%) this morning are down -0.09% and European stocks are down -0.38%. Asian stocks closed mixed: Japan +0.83%, Hong Kong -0.57%, China -0.33%, Taiwan +0.51%, Australia +0.38%, Singapore +0.40%, South Korea +0.50%, India -0.64%. Stocks are weaker even after President Obama signed into law a measure ending the 16-day government shutdown and extending the debt limit. U.S. lawmakers didn't resolve any of their issues over spending priorities or deficit-reduction measures and will still have to return to the same issues over the next 4 months. IBM is down 5.8% in pre-market trading and is leading stocks lower after it reported its sixth consecutive drop in quarterly sales. Commodity prices are mixed. Nov crude oil (CLX13 -0.43%) is down -0.49% and Nov gasoline (RBX13 -0.36%) is down -0.31. Dec gold (GCZ13 +2.57%) is up +1.87% at a 1-week high and Dec copper (HGZ13 -0.86%) is down -0.95%. Agricultural and livestock prices are mostly higher. The dollar index (DXY00 -0.78%) is down -0.66% at a 1-week low as the dysfunction in Washington has spurred speculation the Fed will not taper QE until next year. EUR/USD (^EURUSD) is up +0.68% at a 2-week high and USD/JPY (^USDJPY) is down -0.76%. December T-note prices (ZNZ13 +0.35%) are up +11.5 ticks at a 2-week high on speculation the fight over the debt limit lowered economic growth and undercut consumer confidence and will force the Fed to maintain its pace of bond buying.
Dagong Global Credit Rating Co., one of China's four biggest credit rating companies, cut its sovereign debt rating for the U.S. to A- from A, saying "such political environment over debt repayment renders the dim and pale prospect of the U.S. federal government's solvency."
China Sep foreign direct investment rose +4.9% y/y, a smaller increase than expectations of +5.7% y/y.
UK Sep retail sales ex autos rose +0.7% m/m and +2.8% y/y, better than expectations of +0.3% m/m and +2.2% y/y. Sep retail sales including autos rose +0.6% m/m and +2.2% y/y, stronger than expectations of +0.4% m/m and +2.0% y/y.
Eurozone Aug construction output rose +0.5% m/m and fell -4.7% y/y.

U.S. STOCK PREVIEW

The U.S. government is scheduled to reopen today after the Senate and the House late yesterday approved a CR and debt ceiling deal. The market consensus is that today’s initial unemployment claims report will show a decline of -39,000 to 335,000, reversing part of last week’s surge of +66,000 to a 6-month high 374,000. Meanwhile, today’s continuing claims report is expected to show a small +3,000 increase to 2.908 million, adding to last week’s increase of +16,000 to 2.905 million. Today’s Oct Philadelphia Fed manufacturing index is expected to show a -7.3 point decline to 15.0, reversing about one-half of September’s increase of +13.0 to a 2-1/2 year high of 22.3.
There are 24 of the S&P 500 companies that report earnings today with notable reports including Goldman Sachs (consensus $2.47), Google (10.36), UnitedHealth Group (1.53), Fifth Third Bancorp (0.42), Verizon (0.74), and Capital One (1.81). Equity conferences during the remainder of this week include: International Cash and Treasury Management Conference on Wed-Fri; Canaccord Genuity Global Resource Conference on Wed-Fri; Conference Board of Canada: Canada's North Summit 2013 on Wed; Bloomberg Oil & Gas Conference on Thu; Global Automotive Forum Annual Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Goldman Sachs (GS +2.93%) is down 2% in pre-market trading after it reported Q3 EPS of $2.88, better than consensus of $2.43, but reported Q3 revenue of $6.72 billion, below consensus of $7.36 billion.
Sonoco Products (SON +0.78%) reported Q3 base EPS of 63 cents, better than consensus of 61 cents.
Verizon Communications (VZ +2.01%) reported Qe EPS of 77 cents, better than expectations of 74 cents.
Harley-Davidson (HOG +1.98%) is voluntarily recalling over 28,000 2014 Touring motorcycles equipped with a hydraulic clutch system that may pose a safety issue for riders and/or passengers.
Crown Holdings (CCK -0.80%) reported Q3 EPS of $1.13, better than consensus of $1.08.
Noble Corp. (NE +0.59%) reported Q3 EPS ex-gain of 85 cents, better than consensus of 70 cents.
SanDisk (SNDK +0.40%) climbed 2% in after-hours trading after it reported Q3 adjusted EPS of $1.59, well ahead of consensus of $1.32.
Xilinx (XLNX +1.21%) fell over 4% in after-hours trading after it reported Q2 EPS of 49 cents, below consensus of 53 cents.
eBay (EBAY -0.83%) slid 5% in after-hours trading after it reported Q3 EPS of 64 cents, just above consensus of 63 cents, but said it sees Q4 EPS of 79 cents-81 cents, weaker than consensus of 83 cents.
Amarin (AMRN +3.19%) was downgraded to "Neutral" from 'Buy' at SunTrust and from 'Hold' to 'Buy' at Aegis.
Universal Forest (UFPI +1.21%) reported Q3 EPS of 71 cents, well ahead of consensus of 54 cents.
IBM (IBM +1.12%) fell over 6% in after-hours trading after it reported Q3 EPS of $3.99, better than consensus $3.96, although Q3 revenue of $23.7 billion was below consensus of $24.77 billion.
American Express (AXP +1.42%) reported Q3 EPS of $1.25, better than consensus of $1.22.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ13 -0.07%) this morning are down -1.50 points (-0.09%). The S&P 500 index on Wednesday rallied sharply to a 3-week high and closed higher on optimism U.S. lawmakers will finally agree on a CR and a debt limit increase. Stocks surged after House Republicans guaranteed passage of the Senate's plan to end the government shutdown and extend the debt ceiling. Stocks also received support on reduced chances of the Fed tapering QE this month when Dallas Fed President Fisher said that "reckless" U.S. fiscal policy will likely force the Fed to maintain QE at the Oct 29-30 FOMC meeting. Closes: S&P 500 +1.38%, Dow Jones +1.36%, Nasdaq 100 +1.14%.
Dec 10-year T-notes (ZNZ13 +0.35%) this morning are up +11.5 ticks at a 2-week high. Dec 10-year T-note prices on Wednesday recovered from a 3-week low and closed higher. T-notes weakened early on reduced safe-haven demand after stocks rallied sharply on optimism for a debt limit increase after House Republicans said they will pass the Senate plan to end the U.S. fiscal stalemate. However, Dec T-notes recovered their losses and moved higher after the Oct NAHB housing market index fell more than expected to a 4-month low and after Dallas Fed President Fisher said the Fed will stand pat at this month's FOMC meeting. Closes: TYZ3 +13, FVZ3 +6.
The dollar index (DXY00 -0.78%) this morning is down -0.534 (-0.66%) at a 1-week low. EUR/USD (^EURUSD) is up +0.0092 (+0.68%) at a 2-week high and USD/JPY (^USDJPY) is down -0.75 (-0.76%). The dollar index on Wednesday retreated from a 4-week high and closed little changed after Dallas Fed President Fisher said the fiscal mess in Washington will force the Fed to not taper QE at this month's FOMC meeting. The dollar had rallied early on optimism a debt ceiling hike will finally be implemented after House Speaker Boehner said he will agree to take up the Senate plan to end the fiscal impasse. Closes: Dollar index -0.003 (-0.01%), EUR/USD +0.0010 (+0.07%), USD/JPY +0.611 (+0.62%).
Nov WTI crude oil (CLX13 -0.43%) this morning is down -50 cents (-0.49%) and Nov gasoline (RBX13 -0.36%) is down -0.0083 (-0.31%). Nov crude oil and gasoline prices on Wednesday closed higher with Nov gasoline at a 4-week high on optimism U.S. lawmakers will come together on a deal to raise the debt limit after House Speaker Boehner said he will agree to take up the Senate plan to end the impasse. Closes: CLX3 +1.08 (+1.07%), RBX3 +0.0423 (+1.59%).

GLOBAL EVENT CALENDAR10/17/2013

US	n/a	Treasurys hits debt ceiling with about $30 billion left in cash.
	0745 ET	Dallas Fed President Richard Fisher speaks at the Economic Club of New York breakfast.
	0830 ET	Weekly initial unemployment claims expected -39,000 to 335,000, previous +66,000 to 374,000. Weekly continuing claims expected +3,000 to 2.908 million, previous +16,000 to 2.905 million.
	0830 ET	Sep housing starts expected +2.1% to 910,000, Aug +0.9% to 891,000. Sep building permits expected +1.0% to 935,000, Aug -2.9% to 926,000 (subject to postponement).
	0830 ET	Sep CPI expected +0.2% m/m and +1.2% y/y, Aug +0.1% m/m and +1.5% y/y. Sep CPI ex food and energy expected +0.2% m/m and +1.8% y/y, Aug +0.1% m/m and +1.8% y/y (subject to postponement).
	1000 ET	Oct Philadelphia Fed manufacturing index expected -7.3 to 15.0, Sep +13.0 to 22.3.
	1100 ET	EIA Weekly Petroleum Status Report (postponed).
	1100 ET	Treasury announces amount of 30-year TIPS to be auctioned Oct 24.
	1245 ET	Chicago Fed President Charles Evans speaks at the Wisconsin Real Estate and Economic Outlook Conference.
	1245 ET	Kansas City Fed President Esther George speaks on the U.S. economy at the Oklahoma City Business and Community Leaders Luncheon.
JPN	0200 ET	Revised Japan Sep machine tool orders, previous -6.3%.
EUR	0400 ET	Eurozone Aug current account (nsa), July +26.6 billion euros.
	0500 ET	Eurozone Aug construction output, July +0.3% m/m and -1.2% y/y.
UK	0430 ET	UK Sep retail sales ex autos expected +0.3% m/m and +2.2% y/y, Aug -1.0% m/m and +2.3% y/y.
	0430 ET	UK Sep retail sales including autos expected +0.4% and +2.0% y/y, Aug -0.9% m/m and +2.1% y/y.
CHI	2200 ET	China Q3 GDP expected +7.8% annualized, Q2 +7.5% annualized.
	2200 ET	China Sep industrial production expected +10.2% y/y, Aug +10.4% y/y.
	2200 ET	China Sep retail sales expected +13.5% y/y, Aug +13.4% y/y.

U.S. STOCK CALENDAR10/17/2013

Company Name	Ticker	Time	Event Description	Period	Estimate
Nucor Corp	NUE US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	0.389
PPG Industries Inc	PPG US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	2.345
Huntington Bancshares Inc/OH	HBAN US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	0.17
Snap-on Inc	SNA US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	1.415
BB&T Corp	BBT US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	0.699
Quest Diagnostics Inc	DGX US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	1.02
Peabody Energy Corp	BTU US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	-0.044
M&T Bank Corp	MTB US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	2.088
Danaher Corp	DHR US	6:00	Q3 2013 Earnings Release	Q3 2013	0.828
UnitedHealth Group Inc	UNH US	6:00	Q3 2013 Earnings Release	Q3 2013	1.526
Fifth Third Bancorp	FITB US	6:30	Q3 2013 Earnings Release	Q3 2013	0.415
Baxter International Inc	BAX US	7:00	Q3 2013 Earnings Release	Q3 2013	1.191
Philip Morris International Inc	PM US	7:00	Q3 2013 Earnings Release	Q3 2013	1.433
Dover Corp	DOV US	7:00	Q3 2013 Earnings Release	Q3 2013	1.498
Verizon Communications Inc	VZ US	7:30	Q3 2013 Earnings Release	Q3 2013	0.739
Goldman Sachs Group Inc/The	GS US	7:30	Q3 2013 Earnings Release	Q3 2013	2.467
BB&T Corp	BBT US	8:00	Q3 2013 Earnings Call	Q3 2013
Danaher Corp	DHR US	8:00	Q3 2013 Earnings Call	Q3 2013
Union Pacific Corp	UNP US	8:00	Q3 2013 Earnings Release	Q3 2013	2.47
Amphenol Corp	APH US	8:00	Q3 2013 Earnings Release	Q3 2013	0.965
SLM Corp	SLM US	8:00	Q3 2013 Earnings Call	Q3 2013
Baxter International Inc	BAX US	8:30	Q3 2013 Earnings Call	Q3 2013
Verizon Communications Inc	VZ US	8:30	Q3 2013 Earnings Call	Q3 2013
Quest Diagnostics Inc	DGX US	8:30	Q3 2013 Earnings Call	Q3 2013
Union Pacific Corp	UNP US	8:45	Q3 2013 Earnings Call	Q3 2013
UnitedHealth Group Inc	UNH US	8:45	Q3 2013 Earnings Call	Q3 2013
Philip Morris International Inc	PM US	9:00	Q3 2013 Earnings Call	Q3 2013
Noble Corp	NE US	9:00	Q3 2013 Earnings Call	Q3 2013
Fifth Third Bancorp	FITB US	9:00	Q3 2013 Earnings Call	Q3 2013
Goldman Sachs Group Inc/The	GS US	9:30	Q3 2013 Earnings Call	Q3 2013
Huntington Bancshares Inc/OH	HBAN US	10:00	Q3 2013 Earnings Call	Q3 2013
Snap-on Inc	SNA US	10:00	Q3 2013 Earnings Call	Q3 2013
Dover Corp	DOV US	10:00	Q3 2013 Earnings Call	Q3 2013
Dell Inc	DELL US	10:00	Annual General Meeting	Y 2013
Google Inc	GOOG US	Aft-mkt	Q3 2013 Earnings Release	Q3 2013	10.357
Intuitive Surgical Inc	ISRG US	Aft-mkt	Q3 2013 Earnings Release	Q3 2013	3.395