5 All Time High Large Caps for Momentum Investors

This morning I wanted to find 5 Large Caps that hit All Time Highs that might be of interest to Momentum Investors.  I used Barchart to sort the All Time High Large Cap list first for the most frequent number of new highs in the last month, then again for technical buy signals of  80% or better.  Today's Watch List includes:

Brown Forman (BF.B), Veeva Systems (VEEV), Cerdicorp (BAP), Rollins (ROL) and Aon (AON)

Brown Forman (BF.B)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 25.13% in the last month
• Relative Strength Index 92.08
• Technical support level at 53.61
• Recently traded at 57.91 with a 50 day moving average of 47.85

Veeva Systems (VEEV)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 16 new highs and up 18.68% in the last month
• Relative Strength Index 75.85%
• Technical support level at 61.04
• Recently traded at 61.31 with a 50 day moving average of 52.83

Credicorp (BAP)

Barchart technical indicators:

• 80% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 16 new highs and up 13.58% in the last month
• Relative Strength Index 74.71%
• Technical support level at 172.47
• Recently traded at 173.67 with a 50 day moving average of 161.25

Rollins (ROL)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 4.69% in the last month
• Relative Strength Index 82.33%
• Technical support level at 41.75
• Recently traded at 42.48 with a 50 day moving average of 38.09

Aon (AON)

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 8.75% in the last month
• Relative Strength Index 84.73%
• Technical support level at 127.32
• Recently traded at 128.79 with a 50 day moving average of 120.71

Veeva Systems - Chart of the Day

Veeva Systems (VEEV) is the Barchart Chart of the Day. The Internet software company has a Trend Spotter buy signal, a Weighted Alpha of 100.07+ and gained 113.11% in the last year.

The Chart of the Day belongs to Veeve Systems (VEEV). I found the Internet software company 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 again for technical buy signals of 80% or more.  Since the Trend Spotter signaled a buy in 2/3 the stock gained 41.35%.

Veeva Systems Inc. operates as a provider of industry-specific, cloud-based software solutions for the life sciences industry. It offers enterprise applications, a multichannel platform, customer relationship management, and content management solutions. The Company provides its solutions to pharmaceutical, animal health, and biotechnology companies. Veeva Systems Inc. is headquartered in Pleasanton, California.

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

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 30 and 100 day moving averages
• 15 new highs and up 18.99% in the last month
• Relative Strength Index 78.94%
• Technical support level at 59.69
• Recently traded at 61.48 with a 50 day moving average of 52.53

Fundamental factors:

• Market Cap $8.36 billion
• P/E 119.08
• Revenue expected to grow 21.00% this year and another 19.20% next year
• Earnings estimated to increase at an annual rate of 8.20% this year, an additional 21.50% next year and continue to compound at an annual rate of 21.35% of the next 5 years
• Wall Street analysts issued 7 strong buy, 1 buy and 3 hold recommendation on the stock

MORNING CALL 3/1

Barchart Morning Call

Barchart.com - 1 hour ago

OVERNIGHT MARKETS AND NEWS

Mar E-mini S&Ps (ESH17 +0.51%) this morning are up +0.44% at a new all-time nearest-futures high and European stocks are up +1.57% at a 14-1/2 month high on signs of global economic strength. President Trump's address to Congress last night turned out to be a non-event as it lacked specifics on his tax cut plans or details on infrastructure spending. Global stocks rallied after Chinese manufacturing activity unexpectedly expanded last month and Eurozone manufacturing activity remained at a 3-year high. Mining stocks and raw-material producers also moved higher as May copper (HGK17 +1.11%) climbed +1.34% to a 1-week high on expectations of stronger global demand for commodities. Asian stocks settled mostly higher: Japan +1.44%, Hong Kong +0.15%, China +0.16%, Taiwan -0.78%, Australia -0.13%, Singapore +0.84%, South Korea closed for holiday, India +0.84%. Asian stocks found support on signs of strength in Chinese manufacturing activity, while Japanese exporter stocks also garnered support from a slide in the yen as USD/JPY rose +0.88% to a 1-1/2 week high, which boosts the earnings prospects of exporters.

The dollar index (DXY00 +0.74%) is up +0.66% at a 1-1/2 month high as hawkish Fed commentary late yesterday boosted the odds of a Mar Fed rate hike. EUR/USD (^EURUSD) is down -0.41%. USD/JPY (^USDJPY) is up +0.88% at a 1-1/2 week high.

Jun 10-year T-note prices (ZNM17 -0.61%) are down -21.5 ticks.

St. Louis Fed President Bullard (non-voter) said he's "agnostic" about when to raise the fed funds rate and that being pre-emptive "would be overkill" as he "doesn't think the fiscal uncertainty will be resolved before summer."

The China Feb manufacturing PMI unexpectedly rose +0.3 to 51.6, stronger than expectations of -0.1 to 51.2.

The Eurozone Feb Markit manufacturing PMI was revised downward to 55.4 from the originally reported 55.5, still the fastest pace of expansion since the data series began in 2014.

Japan Q4 capital spending rose +3.8% y/y, stronger than expectations of +0.8% y/y. Q4 capital spending ex-software rose 3.3% y/y, stronger than expectations of +1.1% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.0% with purchase sub-index -2.8% and refi sub-index -1.0%), (2) Jan personal spending (expected +0.3%, Dec +0.5%) and Jan personal income (expected +0.3%, Dec +0.3%), (3) Jan PCE deflator (expected +0.5% m/m and +2.0% y/y, Dec +0.2% m/m and +1.6% y/y) and Jan core PCE deflator (expected +0.3% m/m and +1.7% y/y, Dec +0.1% m/m and +1.7% y/y), (4) revised Feb Markit manufacturing PMI (expected +0.2 to 54.5, prelim-Feb -0.7 to 54.3), (5) Feb ISM manufacturing index (expected +0.2 to 56.2, Jan +1.5 to 56.0), (6) Jan construction spending (expected +0.6% m/m, Dec -0.2% m/m), (7) Dallas Fed President Robert Kaplan (voter) speaks at Paul Quinn College in Dallas, TX, (8) Fed Beige Book, (9) Fed Governor Lael Brainard speaks on the economic outlook and monetary policy at Harvard University’s John F. Kennedy School of Government, (10), Feb total vehicle sales (expected 17.70 million, Jan 17.48 million), (11) EIA Weekly Petroleum Status Report.

Notable S&P 500 earnings reports today include: Best Buy (consensus $1.67), Lowe's (0.79), Dollar Tree (1.32), Monster Beverage (0.30), Broadcom (3.48), Mylan (1.42).

U.S. IPO's scheduled to price today: Snap (SNAP).

Equity conferences: CITI Asset Management, Broker Dealer & Market Structure Conference on Wed, Gabelli & Company Pump, Valve & Water Systems Symposium on Wed, Wells Fargo Real Estate Securities Conference on Wed, ABA National Conference on Wed, EnerCom The Oil & Gas Conference on Wed, J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on Thu, Bank of America Merrill Lynch Global Agriculture and Chemicals Conference on Wed-Thu, BTIG Healthcare Conference on Thu, Capital Link Master Limited Partnership Investing Forum on Thu, Simmons Energy Conference on Thu-Fri.

OVERNIGHT U.S. STOCK MOVERS

Micron (MU -1.35%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs with a price target of $29.

Allstate (ALL +1.01%) was downgraded to 'Market Perform' from 'Outperform' at Keefe, Bruyette & Woods with a 12-month target price of $81.

William Lyon Homes (WLH -2.28%) rose 3% in after-hours trading after it was announced that it will replace Arctic Cat in the S&P SmallCap 600 at the opening of trade on Monday, March 6.

Intel (INTC -0.85%) was downgraded to 'Underperform' from 'Market Perform' at Bernstein with a 12-month target price of $30

salesforce.com (CRM -0.23%) slid over 1% in after-hours trading after it said it sees full-year revenue of $10.15 billion-$10.20 billion, below consensus of $10.20 billion.

Tesaro (TSRO +0.51%) lost 1% in after-hours trading after it reported a Q4 loss of -$2.60 a share, wider than consensus of -$1.95.

Palo Alto Networks (PANW -1.33%) slumped nearly 20% in after-hours trading after it said it sees Q3 revenue of $406 million-$416 million, below consensus of $454.6 million.

Weight Watchers International (WTW +9.93%) jumped over 8% in after-hours trading after it reported Q4 EPS of 20 cents, better than consensus of 19 cents, and said it sees full-year EPS of $1.30-$1.40, above consensus of $1.17.

Darling Ingredients (DAR +1.64%) rallied over 6% in after-hours trading after it reported Q4 EPS of 25 cents, above consensus of 19 cents.

Veeva Systems (VEEV -1.02%) fell nearly 2% in after-hours trading after it forecast fiscal 2018 EPS of 78 cents-80 cents, below consensus of 80 cents.

TASER International (TASR -1.57%) gained over 1% in after-hours trading after it reported Q4 EPS of 12 cents, better than consensus of 10 cents.

CyberOptics (CYBE -1.01%) sank over 10% in after-hours trading after it reported Q4 revenue of $13.50 million, less than consensus of $14.21 million.

Builders FirstSource (BLDR +0.94%) climbed nearly 6% in after-hours trading after it reported Q4 net sales of $1.55 billion, higher than consensus of $1.50 billion.

Chuy's Holdings (CHUY +0.88%) fell over 3% in after-hours trading after it reported Q4 EPS of 14 cents, below consensus of 17 cents, and said it sees full-year EPS of $1.11 to $1.15, weaker than consensus of $1.19.

Big 5 Sporting Goods (BGFV -2.89%) jumped over 13% in after-hours trading after it said it sees Q1 EPS of 12 cents-18 cents, well above consensus of 6 cents.

Dynavax (DVAX +2.27%) surged over 20% in after-hours trading after it announced the FDA will review Dynavax's responses to the Complete Response Letter issued by the FDA in Nov 2016 for the Biologics License Application for HEPLISAV-B, Dynavax's vaccine for immunization against hepatitis B infection in adults 18 years and older.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 +0.51%) this morning are up +10.50 points (+0.44%) at a fresh record nearest-futures high. Tuesday's closes: S&P 500 -0.26%, Dow Jones -0.12%, Nasdaq -0.32%. The S&P 500 on Tuesday closed lower on the unrevised U.S. Q4 GDP of +1.9% (weaker than expectations of +2.1%) and some long liquidation ahead of President Trump's address to Congress on Tuesday night. Stocks were supported by the unexpected +3.2 increase in U.S. Feb consumer confidence (Conference Board) to 114.8 (stronger than expectations of -0.8 to 111.0 and a 15-1/2 year high) and the +7.1-point increase in the Feb Chicago PMI to 57.4 (stronger than expectations of +3.2 to 53.5 and the fastest pace of expansion in 2 years).

Jun 10-year T-notes (ZNM17 -0.61%) this morning are down -21.5 ticks. Tuesday's closes: TYM7 -0.50, FVM7 -2.75. Jun 10-year T-notes on Tuesday closed slightly lower on comments from New York Fed President Dudley (voter) who said the case for tightening had become "a lot more compelling" in recent months and on the +3.2 increase in U.S. Feb consumer confidence to 114.8, a 15-1/2 year high. Losses were limited after U.S. Q4 GDP was left unrevised at +1.9%, weaker than expectations of +2.1%.

The dollar index (DXY00 +0.74%) this morning is up +0.67 (+0.66%) at a 1-1/2 month high. EUR/USD (^EURUSD) is down -0.0043 (-0.41%). USD/JPY (^USDJPY) is up +0.99 (+0.88%) at a 1-1/2 week high. Tuesday's closes: Dollar index -0.01 (-0.01%), EUR/USD -0.0011 (-0.10%), USD/JPY +0.58 (+0.52%). The dollar index on Tuesday closed lower on the weaker-than-expected U.S. Q4 GDP report and long liquidation in the dollar ahead of President Trump's speech to Congress on Tuesday night. Losses were limited after New York Fed President Dudley said the case for tightening had become "a lot more compelling" in recent months.

Apr WTI crude oil prices (CLJ17 +0.26%) this morning are up +13 cents (+0.24%) and Apr gasoline (RBJ17 -1.14%) is -0.0205 (-1.19%). Tuesday's closes: Apr crude -0.04 (-0.07%), Apr gasoline -0.0123 (-0.71%). Apr crude oil and gasoline on Tuesday closed lower on the prediction from JBC Energy GmgH that OPEC Feb crude production rose by +55,000 bpd to 32.245 million bpd and by expectations that Wednesday's weekly EIA data will show U.S. crude inventories rose by +3.0 million bbl.

GLOBAL EVENT CALENDAR03/01/2017

		Wednesday, Mar 1
US	0700 ET	Weekly MBA mortgage applications, previous -2.0% with purchase sub-index -2.8% and refi sub-index -1.0%.
	0830 ET	Jan personal spending expected +0.3%, Dec +0.5%. Jan personal income expected +0.3%, Dec +0.3%. Jan PCE deflator expected +0.5% m/m and +2.0% y/y, Dec +0.2% m/m and +1.6% y/y. Jan core PCE deflator expected +0.3% m/m and +1.7% y/y, Dec +0.1% m/m and +1.7% y/y.
	0945 ET	Revised Feb Markit manufacturing PMI expected +0.2 to 54.5, prelim-Feb -0.7 to 54.3.
	1000 ET	Feb ISM manufacturing index expected unch at 56.0, Jan +1.5 to 56.0. Feb ISM new orders, Jan +0.1 to 60.4. Feb ISM employment, Jan +3.3 to 56.1. Feb ISM prices paid expected -1.0 to 68.0, Jan +3.5 to 69.0.
	1000 ET	Jan construction spending expected +0.6% m/m, Dec -0.2% m/m.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Dallas Fed President Robert Kaplan (voter) speaks at Paul Quinn College in Dallas, TX.
	1400 ET	Fed Beige Book.
	1800 ET	Fed Governor Lael Brainard speaks on the economic outlook and monetary policy at Harvard Universitys John F. Kennedy School of Government.
	n/a	Feb total vehicle sales expected 17.70 million, Jan 17.48 million. Feb domestic vehicle sales expected 13.65 million, Jan 13.60 million.
		Thursday, Mar 2
US	0730 ET	Feb Challenger job cuts, Jan -38.8% y/y.
	0830 ET	Weekly initial unemployment claims expected +1,000 to 245,000, previous +6,000 to 244,000. Weekly continuing claims expected unch at 2.060 million, previous -17,000 to 2.060 million.
	0830 ET	USDA weekly Export Sales.
	1100 ET	Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $23 billion) and 30-year T-bonds (previous $15 billion) to be auctioned Mar 7-9.
	1900 ET	Cleveland Fed President Loretta Mester (non-voter) speaks on leadership at the Athena Center for Leadership Studies at Barnard College in New York.

U.S. STOCK CALENDAR03/01/2017

Company	Ticker	Time	Event Description	Period	Estimate
Mallinckrodt PLC	MNK US	4:30	Annual General Meeting	Y 2017
Lowe's Cos Inc	LOW US	Bf-mkt	Q4 2017 Earnings Release	Q4 2017	0.785
Dollar Tree Inc	DLTR US	Bf-mkt	Q4 2017 Earnings Release	Q4 2017	1.321
Best Buy Co Inc	BBY US	7:00	Q4 2017 Earnings Release	Q4 2017	1.667
Best Buy Co Inc	BBY US	8:00	Q4 2017 Earnings Call	Q4 2017
Honeywell International Inc	HON US	9:00	Investor Conference	Y 2017
Hershey Co/The	HSY US	9:00	Analyst Day	Y 2017
Lowe's Cos Inc	LOW US	9:00	Q4 2017 Earnings Call	Q4 2017
Universal Health Services Inc	UHS US	9:00	Q4 2016 Earnings Call	Q4 2016
Dollar Tree Inc	DLTR US	9:00	Q4 2017 Earnings Call	Q4 2017
TransDigm Group Inc	TDG US	9:00	Annual General Meeting	Y 2017
Ford Motor Co	F US	9:15	February 2017 Sales and Revenue Release	2017
Exxon Mobil Corp	XOM US	9:30	Analyst Meeting	Y 2017
Ford Motor Co	F US	10:00	February 2017 Sales and Revenue Call	2017
Mylan NV	MYL US	13:00	Investor Day	Y 2017
Monster Beverage Corp	MNST US	17:00	Q4 2016 Earnings Call	Q4 2016
Broadcom Ltd	AVGO US	17:00	Q1 2017 Earnings Call	Q1 2017
Monster Beverage Corp	MNST US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	0.302
Broadcom Ltd	AVGO US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	3.474
Equifax Inc	EFX US		Investor Meeting	Y 2017
Helmerich & Payne Inc	HP US		Annual General Meeting
McDonald's Corp	MCD US		Investor Meeting	Y 2017
Mylan NV	MYL US		Q4 2016 Earnings Release	Q4 2016	1.422

MORNING CALL 5/27

MORNING CALL

Friday, May 27th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.08%) are up +0.07% and European stocks are up +0.16% at a 4-week high as the market waits a speech later today from Fed Chair Yellen that may signal the timing of the Fed's next interest rate increase. Mining stocks and raw-material producers are higher as the price of copper (HGN16 +0.64%) climbs +0.78% on signs of tighter global supplies. LME copper inventories dropped -2,225 MT to 153,750 MT, a 4-week low, and weekly Shanghai copper inventories fell -36,122 MT to 221,212 MT, a 4-month low. On the negative side, energy producers were lower as the price of crude oil (CLN16 -0.81%) slips -0.93% as Canadian oil-sands producers moved to resume operations after wildfires eased. Asian stocks settled mostly higher: Japan +0.37%, Hong Kong +0.88%, China -0.05%, Taiwan +0.83%, Australia +0.33%, Singapore +1.05%, South Korea +0.53%, India +1.09%.

The dollar index (DXY00 +0.09%) is up +0.09%. EUR/USD (^EURUSD) is down -0.13%. USD/JPY (^USDJPY) is down -0.11%.

Jun T-note prices (ZNM16 -0.06%) are down -1.5 ticks.

In the final communique from the G-7 summit in Japan, G-7 nations said they will use "all policy tools; monetary, fiscal and structural, individually and collectively, to strengthen global demand and address supply constraints while continuing our efforts to put debt on a sustainable path."

Japan Apr national CPI fell -0.3% y/y, less than expectations of -0.4% y/y. Apr national CPI ex fresh food fell -0.3% y/y, a smaller decline than expectations of -0.4% y/y. Apr national CPI ex food & energy rose +0.7% y/y, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) revised Q1 GDP (expected +0.9% q/q annualized, previous +0.5%), (2) final-May University of Michigan U.S. consumer sentiment index (expected -0.4 to 95.4, prelim-May +6.8 to 95.8), (3) Fed Chair Yellen speaks at Harvard University’s Radcliffe Day.

There is 1 of the Russell 1000 companies that report earnings today: Golar LNG (consensus -$0.42).

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

Equity conferences today: none.

OVERNIGHT U.S. STOCK MOVERS

Ulta Salon Cosmetics & Fragrance (ULTA +1.05%) rallied nearly 8% in pre-market trading after it reported Q1 EPS of $1.45, higher than consensus of $1.29, and said it sees full-year EPS growth in the low twenties percentage range versus a prior view of up 18%-20%.

Monsanto (MON -1.84%) was downgraded to 'Neutral' from 'Overweight' at Atlantic Equities with a 12-month price target of $105.

GameStop (GME +0.84%) dropped over 8% in after-hours trading after it said it sees Q2 adjusted EPS of 23 cents-30 cents, below consensus of 33 cents.

Duluth Holdings (DLTH -0.96%) was rated a new 'Buy' at Stifel with a 12-month price target of $28.

Terex (TEX -3.45%) was downgraded to 'Hold' from 'Buy' at Evercore ISI with a 12-month price target of $21.

Caleres (CAL +1.16%) lost 1% in after-hours trading after it reported Q1 EPS of 41 cents, below consensus of 43 cents, and then lowered guidance on full-year revenue to $2.60 billion-$2.63 billion from a March 15 view of $2.65 billion-$2.68 billion, below consensus of $2.66 billion.

Veeva Systems (VEEV -0.43%) jumped 10% in after-hours trading after it reported Q1 adjusted EPS of 15 cents, higher than consensus of 11 cents, and then raised its full-year revenue estimate to $516 million-$520 million from a prior view of $508 million-$513 million, above consensus of $512.1 million.

Palo Alto Networks (PANW +1.71%) sank 11% in pre-market trading after it reported Q3 adjusted EPS of 42 cents, right on consensus, but said it sees Q4 adjusted EPS of 48 cents-50 cents, below consensus of 50 cents.

Deckers Outdoor (DECK +0.61%) fell over 2% in after-hours trading after it said it sees full-year net sales of unchanged to down -3%, weaker than estimates of up +2%, and then lowered guidance on full-year adjusted EPS to $4.05-$4.40, below consensus of $4.61.

First Data Corp. (FDC +1.39%) gained 1% in after-hours trading after Vice Chairman Plumeri disclosed a purchase of 250,000 shares of the company's stock on Wednesday.

BG Staffing (BGSF -0.24%) slumped over 14% in after-hours trading after it announced a public offering of stock, although no terms were available at the time of this writing.

21Vianet Group (VNET +6.09%) slid 4% in after-hours trading after it reported a Q1 adjusted loss/Ads of 13 cents and Q1 gross margins of 19.6% versus 26.8% y/y.

Splunk (SPLK +1.05%) dropped over 7% in after-hours trading despite reporting a -2 cent Q1 adjusted EPS loss, right on consensus.

Titan Pharmaceuticals (TTNP +1.29%) surged 23% in after-hours trading after it said it will receive a $15 million payment from partner Braeburn Pharma, double-digit royalties and up to $165 million is sales milestones following FDA approval of its Probuphine implant.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.08%) this morning are up +1.50 points (+0.07%). Thursday's closes: S&P 500 +0.70%, Dow Jones +0.82%, Nasdaq +0.72%. The S&P 500 on Thursday closed little changed. Stocks were undercut by the unexpected -0.8% decline in U.S. Apr capital goods orders non-defense ex-aircraft, weaker than expectations of +0.3% and the third straight monthly decline. There was also some long liquidation pressure and position-squaring ahead of Friday's speech from Fed Chair Yellen that may signal the timing of the next Fed rate hike. Stocks found support from the-10,000 decline in U.S. weekly initial unemployment claims (vs expectations of -3,000 to 275,000) and from the +5.1% m/m increase in U.S. Apr pending home sales, stronger than expectations of +0.7% m/m and the largest monthly increase in 5-1/2 years.

June 10-year T-note prices (ZNM16 -0.06%) this morning are down -1.5 ticks. Thursday's closes: TYM6 +13.50, FVM6 +9.00. Jun T-notes on Thursday closed higher on U.S. economic concerns after Apr capital goods orders non-defense ex-aircraft, a gauge of capital spending, unexpectedly fell -0.8%, the third straight monthly decline. T-notes were also boosted by strong demand for the Treasury's $28 billion auction of 7-year T-notes that had a bid-to-cover ratio of 2.57, above the 12-auction average of 2.49.

The dollar index (DXY00 +0.09%) this morning is up +0.090 (+0.09%). EUR/USD (^EURUSD) is down -0.0015 (-0.13%). USD/JPY (^USDJPY) is down-0.12 (-0.11%). Thursday's closes: Dollar Index -0.186 (-0.20%), EUR/USD +0.0039 (+0.35%), USD/JPY -0.43 (-0.39%). The dollar index on Thursday closed lower on the unexpected decline in U.S. Apr capital goods orders non-defense ex-aircraft, a sign of weakness in capital spending that may give the Fed pause on additional rate hikes. The dollar was also undercut by the slide in USD/JPY as weak stocks boosted the safe-haven demand for the yen.

July WTI crude oil (CLN16 -0.81%) this morning is down -46 cents (-0.93%). July gasoline (RBN16 -0.72%) is down -0.0157 (-0.97%). Thursday's closes: CLN6 -0.16 (-0.32%), RBN6 -0.0219 (-1.33%). July crude and gasoline on Thursday closed lower as July crude retreated from a 7-1/2 month high. Crude oil was undercut by profit-taking after the sharp 3-month rally and by the restart of oil-sands facilities in Alberta as wildfire risks abated. Crude oil found underlying support from the weaker dollar.

GLOBAL EVENT CALENDAR05/27/2016

US	0830 ET	Revised Q1 GDP expected +0.9% (q/q annualized), previous +0.5%. Q1 personal consumption expected +2.1%, previous +1.9%. Q1 GDP price index, previous +0.7%. Q1 core PCE, previous +2.1% q/q.
	1000 ET	Final-May University of Michigan U.S. consumer sentiment index expected -0.4 to 95.4, prelim-May +6.8 to 95.8.
	1315 ET	Fed Chair Yellen will speak at Harvard Universitys Radcliffe Day.

U.S. STOCK CALENDAR05/27/2016

Company	Ticker	Time	Event Description	Period	Estimate
Multi-Color Corp	LABL US	8:30	Q4 2016 Earnings Release	Q4 2016	0.78
Big Lots Inc	BIG US		Q1 2017 Earnings Release	Q1 2017	0.701
Hawkins Inc	HWKN US		Q4 2016 Earnings Release	Q4 2016
Golar LNG Ltd	GLNG US		Q1 2016 Earnings Release	Q1 2016	-0.424