MORNING CALL 2/10

Barchart Morning Call

Barchart.com - Fri Feb 10, 6:33AM CST

OVERNIGHT MARKETS AND NEWS

Mar E-mini S&Ps (ESH17 +0.10%) are up +0.07% at a new record nearest-futures high on optimism President Trump's pledge to overhaul business taxes will boost economic growth. Stocks also received a boost after Chinese trade data showed China's Jan exports and imports rose more than expected, a positive sign for the global economy. European stocks erased their gains and are down -0.33% as bank stocks sold-off on political risks from French presidential elections in April along with Greek debt concerns. Asian stocks settled higher: Japan +2.49%, Hong Kong +0.21%, China +0.42%, Taiwan +0.79%, Australia +0.99%, Singapore +0.66%, South Korea +0.36%, India +0.02%. China's Shanghai Composite posted a 1-3/4 month high on signs of strength in China's economy after China Jan exports rose +7.9% y/y, the biggest increase in nearly 2 years and China Jan imports rose +16.7% y/y, the largest gain in 4-years. Japan's Nikkei Stock Index climbed to a 2-week high as exporter stocks rallied on improved earnings prospects as USD/JPY moved up to a 1-week high.

The dollar index (DXY00 +0.21%) is up +0.11% at a 1-1/2 week high. EUR/USD (^EURUSD) is down -0.17% at a 1-1/2 week low. USD/JPY (^USDJPY) is up +0.18% at a 1-week high.

Mar 10-year T-note prices (ZNH17 -0.14%) are down -5 ticks.

Japan Jan PPI rose +0.6% m/m and +0.5% y/y, stronger than expectation of +0.2% m/m and unch y/y with e +0.5% y/y gain the largest year-on-year increase in 1-3/4 years.

The China Jan trade balance widened to a $51.35 billion surplus, larger than expectations of +$48.50 billion and the biggest surplus in a year. Jan exports rose +7.9% y/y, stronger than expectations of +3.2% y/y and the largest increase in 23 months. Jan imports climbed +16.7%, stronger than expectations of +10.0% y/y and the biggest increase in 4 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jan import price index (expected +0.3% m/m and +3.3% y/y, Dec +0.4% m/m and +1.8% y/y), (2) preliminary-Feb University of Michigan U.S. consumer sentiment index (expected -0.5 to 98.0, Jan +0.3 to 98.5), (3) Jan monthly budget statement (expected +$45.0 billion, Dec -$27.5 billion), (4) President Trump and Japanese Prime Minister Abe meet in Washington.

Notable S&P 500 earnings reports today include: Interpublic (consensus $0.67), Ventas (1.02), Aon (2.49), CBRE Group (0.81).

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

Equity conferences: none.

OVERNIGHT U.S. STOCK MOVERS

Activision Blizzard (ATVI +1.38%) jumped 10% in after-hours trading after it reported Q4 adjusted EPS of 92 cents, well above consensus of 73 cents, and its board authorized a $1 billion stock buyback over the next two years.

CyberArk Software Ltd (CYBR +2.90%) dropped over 3% in after-hours trading after it said it sees full-year EPS of $1.20-$1.24, weaker than consensus of $1.34.

Ellie Mae (ELLI -0.67%) climbed 5% in after-hours trading after it reported Q4 adjusted EPS of 57 cents, better than consensus of 49 cents.

VeriSign (VRSN -0.06%) gained 1% in after-hours trading after it reported Q4 adjusted EPS of 92 cents, higher than consensus of 88 cents.

Seattle Genetics (SGEN +2.11%) slid over 4% in after-hours trading after it said it sees 2017 revenue of $405 million-$445 million, below consensus of $490.5 million.

Columbia Sportswear ({=COLM =}) rose 4% in after-hours trading after it reported Q4 EPS of $1.20, above consensus of $1.10.

Monolithic Power Systems (MPWR -1.00%) slid nearly 7% in after-hours trading after it said Q4 revenue for consumer end market fell to $38 million from $38.6 million y/y, the first year-on-year decline in consumer revenue in over a year.

Trivago (TRVG +0.61%) jumped over 7% in after-hours trading after Expedia said Trivago's Q4 revenue surged +65% y/y to $183 million.

Yelp (YELP +0.19%) tumbled 9% in after-hours trading after it said it sees Q1 revenue of $195 million-$199 million, less than consensus of $204.4 million.

Cliffs Natural Resources (CLF +19.43%) fell 4% in after-hours trading after it announced an offering of 50-million common shares.

Hortonworks (HDP +2.83%) jumped 8% in after-hours trading after it said it sees 2017 GAAP revenue of $235 million-$240 million, above consensus of $234.8 million.

Regal Entertainment Group (RGC +1.16%) gained over 2% in after-hours trading after it reported Q4 adjusted EPS of 33 cents, higher than consensus of 26 cents.

MagnaChip Semiconductor (MX -2.96%) lost 3% in after-hours trading after it said it sees Q1 revenue of $157 million-$163 million, less than consensus of $166.5 million.

Control4 Corp. (CTRL +2.94%) rallied nearly 7% in after-hours trading after it reported Q4 adjusted EPS of 31 cents, better than consensus of 24 cents, and then said it sees 2017 adjusted EPS of 90 cents-98 cents, higher than consensus of 85 cents.

Radisys (RSYS +0.24%) sank nearly 15% in after-hours trading after it said it sees 2017 adjusted EPS of 7 cents-17 cents, below consensus of 25 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 +0.10%) this morning are up +1.50 points (+0.07%) at a new all-time nearest-futures high. Thursday's closes: S&P 500 +0.58%, Dow Jones +0.59%, Nasdaq +0.30%. The S&P 500 on Thursday posted a new all-time high and settled higher on an unexpected -12,000 decline in U.S. weekly initial unemployment claims to a 2-3/4 month low of 234,000 (versus expectations of +3,000 to 249,000) and on President Trump's comment that he will announce a "phenomenal" tax plan within weeks, which bolstered optimism his tax plans will boost economic growth.

Mar 10-year T-notes (ZNH17 -0.14%) this morning are down -5 ticks. Thursday's closes: TYH7 -14.00, FVH7 -8.50. Mar 10-year T-notes on Thursday closed lower on the -12,000 decline in initial unemployment claims to a 2-3/4 month low and on reduced safe-have demand with the rally in stocks to new record highs.

The dollar index (DXY00 +0.21%) this morning is up +0.11 (+0.11%) at a 1-1/2 week high. EUR/USD (^EURUSD) is down -0.0018 (-0.17%) at a 1-1/2 week low. USD/JPY (^USDJPY) is up +0.20 (+0.18%) at a 1-week high. Thursday's closes: Dollar index +0.37 (+0.37%), EUR/USD -0.0043 (-0.40%), USD/JPY +1.32 (+1.18%). The dollar index on Thursday closed higher on the unexpected decline in U.S. weekly jobless claims to a 2-3/4 month low, which bolsters the case for additional Fed rate hikes, and on optimism that the Trump administration will enact fiscal policies to boost economic growth after President Trump said he will announce a "phenomenal" tax plan within the next 2-3 weeks.

Mar WTI crude oil prices (CLH17 +1.25%) this morning are up +47 cents (+0.89%) and Mar gasoline (RBH17 +1.80%) is +0.0234 (+1.49%). Thursday's closes: Mar crude +0.6 (+1.26%), Mar gasoline +0.0020 (+0.13%). Mar crude oil and gasoline on Thursday closed higher on comments from Qatar Energy Minister Mohammed Al Sada who said OPEC may need to extend its output cuts into the second half of this year to re-balance the market. Gains in crude were limited due to a stronger dollar.

GLOBAL EVENT CALENDAR02/10/2017

		Friday, Feb 10
US	0830 ET	Jan import price index expected +0.3% m/m and +3.3% y/y, Dec +0.4% m/m and +1.8% y/y.
	1000 ET	Preliminary-Feb University of Michigan U.S. consumer sentiment index expected -0.5 to 98.0, Jan +0.3 to 98.5.
	1400 ET	Jan monthly budget statement expected +$45.0 billion, Dec -$27.5 billion.
	n/a	President Trump and Japanese Prime Minister Abe meet in Washington.
		Monday, Feb 13
US	1100 ET	USDA weekly grain export inspections.

U.S. STOCK CALENDAR02/10/2017

Company	Ticker	Time	Event Description	Period	Estimate
Interpublic Group of Cos	IPG US	Bf-Mkt	Q4 2016 Earnings Release	Q4 2016	0.665
Ventas Inc	VTR US	Bf-Mkt	Q4 2016 Earnings Release	Q4 2016	1.024
Aon PLC	AON US	6:30	Q4 2016 Earnings Release	Q4 2016	2.493
CBRE Group Inc	CBG US	6:59	Q4 2016 Earnings Release	Q4 2016	0.806
Aon PLC	AON US	8:30	Q4 2016 Earnings Call	Q4 2016
Interpublic Group of Cos	IPG US	8:30	Q4 2016 Earnings Call	Q4 2016
CBRE Group Inc	CBG US	8:30	Q4 2016 Earnings Call	Q4 2016
Ventas Inc	VTR US	10:00	Q4 2016 Earnings Call	Q4 2016
Mohawk Industries Inc	MHK US	11:00	Q4 2016 Earnings Call	Q4 2016
DENTSPLY SIRONA Inc	XRAY US		Q4 2016 Earnings Release	Q4 2016	0.652
Accenture PLC	ACN US		Annual General Meeting	Y 2017

MORNING CALL 7/6

MORNING CALL

Wednesday, July 6th, 2016View Older Reports

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

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OVERNIGHT MARKETS AND NEWS

Sep E-mini S&Ps (ESU16 -0.61%) are down -0.67% and European stocks are down sharply by -2.09% on concern the fallout from Brexit will slow global economic growth. Late Tuesday, New York Fed President Dudley warned that the risks from Brexit could escalate if it triggers turmoil beyond the UK. A decline in European bank stocks is leading the overall market lower after BlackRock downgraded European stocks to underweight, with a negative view on the Eurozone banking sector due to fallout from Brexit. European stocks were also undercut after German May factory orders came in weaker than expected. On the positive side, mining stocks and gold producers are higher as the price of gold (GCQ16 +1.22%) rose to a 2-1/3 year high. GBP/USD is down -0.27% to a fresh 31-year low, while global government bond yields fell further into uncharted territory. The German 10-year bund yield slid to a record low of -0.205%, the UK 10-year gilt yield fell to a record low 0.729% and the U.S. 10-year T-note yield dropped to a record low 1.318%. Asian stocks settled mostly lower: Japan -1.85%, Hong Kong -1.23%, China +0.36%, Taiwan -1.61%, Australia -0.58%, South Korea -2.05%, Singapore and India closed for holiday. China's Shanghai Composite rallied to a 2-1/2 month high on speculation the government will boost measures to spur economic growth in the wake of the fallout from Brexit. Japan's Nikkei Stock Index fell to a 1-week low as exporter stocks declined after USD/JPY slid to a 1-week low, which reduces the earnings prospects of exporters.

The dollar index (DXY00 +0.04%) is down -0.05%. EUR/USD (^EURUSD) is down -0.05%. USD/JPY (^USDJPY) is down -1.39% at a 1-week low.

Sep T-note prices (ZNU16 +0.18%) are up +7.5 ticks at a 3-1/2 year nearest-futures high.

BOE Governor Carney warned that the risks from Brexit have started to crystalize and "there is the prospect of a material slowing of the economy and that the number of vulnerable households could increase due to a tougher economic outlook."

German May factory orders were unch m/m and -0.2% y/y, weaker than expectations of +1.0% m/m and +0.9% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.6% with purchase sub-index -3.0% and refi sub-index -2.4%), (2) May trade balance (expected -$40.0 billion, Apr -$37.4 billion), (3) Fed Governor Daniel Tarullo speaks at an event in Washington D.C. on financial regulation and monetary policy, (4) revised Jun Markit U.S. services PMI (expected unchanged at 51.3, prelim-Jun unch at 51.3), (5) Jun ISM non-manufacturing PMI (expected +0.4 to 53.3, May -2.8 to 52.9), and (6) minutes of the June 14-15 FOMC meeting.

Russell 1000 companies reporting earnings today: Walgreens Boots Alliance (consensus $1.14), MSC Industrial Direct (1.00).

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

Equity conferences this week include: none.

OVERNIGHT U.S. STOCK MOVERS

Netflix (NFLX +1.28%) fell over 2% in pre-market trading after it was downgraded to 'Underperform' from 'Hold' at Jeffries on subscriber growth concerns,

Royal Gold (RGLD +0.44%) was upgraded to 'Buy' from 'Neutral' at Dundee with a 12-month price target of $85.

Teledyne Technologies (TDY -1.64%) was downgraded to 'Neutral' from 'Buy' at CL King with a 12-month target price of $107.

Dow Chemical (DOW -1.57%) was downgraded to 'Underperform' from 'Outperform' at CLSA.

U.S. Steel (X -3.45%) was upgraded to 'Hold' from 'Sell' at Deutsche Bank.

Harley Davidson (HOG -10.84%) was downgraded to 'Neutral' from 'Buy' at UBS.

Newmont Mining (NEM +0.10%) and Coeur Mining (CDE +1.24%) both are up over 2% in pre-market trading as the price of gold climbed to a 2-1/3 year high.

Biogen (BIIB -1.24%) rose over 1% in after-hours trading on positive carryover from Tuesday's decision by the European Commission to approve Biogen and Abbvie's Zinbryta for treating relapsing forms of multiple sclerosis.

Ventas (VTR +0.83%) said it will acquire a group of medical and life-science properties from Blackstone Group LP for $1.5 billion.

Comcast (CMCSA -0.41%) dropped over 1% in after-hours trading on negative carryover from Tuesday's session when the company said it will incorporate Netflix's web-streaming services from Comcast cable boxes.

Tesla (TSLA -1.16%) slid over 1% in after-hours trading after the Detroit Free Press reported a Tesla Model X was in Autopilot mode when it crashed and rolled over on the Pennsylvania Turnpike on July 1.

Medivation (MDVN +2.73%) gained over 1% in after-hours trading after Reuters reported that it is in talks with Sanofi and other companies after it recently rejected a raised bid from Sanofi.

MARKET COMMENTS

September E-mini S&Ps (ESU16 -0.61%) this morning are down -14.00 points (-0.67%). Tuesday's closes: S&P 500 -0.68%, Dow Jones -0.61%, Nasdaq -0.60%. The S&P 500 on Tuesday closed lower on concern about Brexit fallout after Standard Life Investments suspended trading in its 2.9 billion pound ($3.9 billion) fund after seeing a surge in redemption requests. Stocks were also undercut by weakness in energy producers after crude oil prices plunged -4.9%.

Sep 10-year T-note prices (ZNU16 +0.18%) this morning are up +7.5 ticks at a 3-1/2 year nearest-futures high. Tuesday's closes: TYU6 +26.00. FVU6 +11.00. Sep T-notes on Tuesday rose to a 1-week high and closed higher, while the 10-year T-note yield fell to an all-time low of 1.354%. T-note prices were boosted by increased safe-haven demand with the sell-off in stocks and by carryover support from a rally in UK gilts and German bunds to all-time highs. T-note also received a boost from the slightly weaker-than-expected U.S. May factory orders of -1.0% (versus expectations of -0.9%).

The dollar index (DXY00 +0.04%) this morning is down -0.052 (-0.05%). EUR/USD (^EURUSD) is down -0.0006 (-0.05%). USD/JPY (^USDJPY) is down -1.41 (-1.39%) at a 1-week low. Tuesday's closes: Dollar Index +0.517 (+0.54%), EUR/USD -0.0078 (-0.70%), USD/JPY -0.82 (-0.80%). The dollar index on Tuesday recovered from a 1-week low and closed higher on the decline in GBP/USD to a 31-year low and on weakness in EUR/USD on concern over contagion of the Brexit crisis to the rest of Europe. The dollar was undercut by safe-haven demand for the yen as USD/JPY fell to a 1-week low.

Aug WTI crude oil (CLQ16 -1.33%) this morning is down -59 cents (-1.27%) at a 1-week low. Aug gasoline (RBQ16 -3.12%) is down -0.0360 (-2.52%) at a 2-3/4 month low. Tuesday's closes: CLQ6 -2.39 (-4.88%), RBQ6 -0.0848 (-5.60%). Aug crude and gasoline on Tuesday closed sharply lower with Aug gasoline at a 2-1/2 month low. Crude oil prices were undercut by the stronger dollar and by news that OPEC June oil production rose +240,000 bpd to a 5-month high of 32.88 million bpd.

GLOBAL EVENT CALENDAR07/06/2016

		Wednesday, July 6, 2016
US	0700 ET	Weekly MBA mortgage applications, previous -2.6% with purchase sub-index -3.0% and refi sub-index -2.4%.
	0830 ET	May trade balance expected -$40.0 billion, Apr -$37.4 billion.
	0900 ET	Fed Governor Daniel Tarullo speaks at an event in Washington D.C. on financial regulation and monetary policy.
	0945 ET	Revised Jun Markit U.S. services PMI expected unchanged at 51.3, prelim-Jun unch at 51.3. Revised Jun Markit composite PMI, prelim-June +0.3 to 51.2.
	1000 ET	Jun ISM non-manufacturing PMI expected +0.4 to 53.3, May -2.8 to 52.9.
	1400 ET	Minutes of the Jun 14-15 FOMC meeting.
		Thursday, July 7, 2016
US	0730 ET	Jun Challenger job cuts, May -26.5% y/y.
	0815 ET	Jun ADP employment change expected +160,000, May +173,000.
	0830 ET	Weekly initial unemployment claims expected unch at 268,000, previous +10,000 to 268,000. Weekly continuing claims expected-10,000 to 2.110 million, previous 20,000 to 2.120 million.
	1100 ET	EIA Weekly Petroleum Status Report.
	1100 ET	Treasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $20 billion), and 30-year T-bonds (previous $12 billion) to be auctioned Jul 11-13.
JPN	0100 ET	Japan May leading index CI expected unch at 100.00. May coincident index expected -1.7 to 110.3, Apr 112.0.
	2000 ET	Japan May labor cash earnings expected +0.5% y/y, Apr unch y/y. May real cash earnings, Apr +0.4% y/y.
GER	0200 ET	German May industrial production expected +0.1% m/m and +1.5% y/y, Apr +0.8% m/m and +1.2% y/y.
UK	0330 ET	UK Jun Halifax house prices expected +0.3% m/m and +7.8% 3-mo/y/y, May +0.6% m/m and +9.2% 3-mo/y/y.
	0430 ET	UK May industrial production expected -1.0% m/m and +0.5% y/y, Apr +2.0% m/m and +1.6% y/y.
	0430 ET	UK May manufacturing production expected -1.2% m/m and +0.4% y/y, Apr +2.3% m/m and +0.8% y/y.

U.S. STOCK CALENDAR07/06/2016

Company	Ticker	Time	Event Description	Period	Estimate
MSC Industrial Direct Co Inc	MSM	Bef-mkt	Q3 2016 Earnings Release	Q3 2016	1.003
Walgreens Boots Alliance Inc	WBA	7:00	Q3 2016 Earnings Release	Q3 2016	1.138
Walgreens Boots Alliance Inc	WBA	8:30	Q3 2016 Earnings Call	Q3 2016
MSC Industrial Direct Co Inc	MSM	8:30	Q3 2016 Earnings Call	Q3 2016
Medivation Inc	MDVN	16:30	Business Update Call
Costco Wholesale Corp	COST	21:00	June 2016 Sales and Revenue Release	2016

5 Large Caps Bucking the Trend

The S&P 500 has been on a down trend for the last 4 days so I wanted to find the stocks that were holding up well.  I used Barchart to sort the S&P 500 Large Cap Index stocks to find the ones with the highest technical buy signals.  Today's Watch List includes:

Dentsply Sirona (XRAY), XCEL Energy (XEL), Wisconsin Energy (WEC), Ventas (VTR), and AT&T (T)

Dentsply Sirona (XRAY)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 4.71% in the last month
• Relative Strength Index 60.15%
• Technical support level at 63.20
• Recently traded at 64.03 with a 50 day moving average of 61.34

XCEL Energy (XEL)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 5 new highs and up 2.18% in the last month
• Relative Strength Index 65.21%
• Technical support level at 42.39
• Recently traded at 42.67 with a 50 day moving average of 40.92

Wisconsin Energy (WEC)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 4.87% in the last month
• Relative Strength Index 70.35%
• Technical support level at 62.05
• Recently traded at 62.92 with a 50 day moving average of 59.33

Ventas (VTR)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 3.64% in the last month
• Relative Strength Index 70.24%
• Technical support level at 68.41
• Recently traded at 68.90 with a 50 day moving average of 64.92

AT&T (T)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 2.96% in the last month
• Relative Strength Index 68.33%
• Technical support level at 39.93
• Recently traded at 40.37 with a 50 day moving average of 38.91

MORNING CALL 11/10

MORNING CALL

Tuesday, November 10th, 2015View 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 (ESZ15 -0.27%) are down -0.12% and European stocks are down -0.22% at a 1-week low as deflation concerns in China weighed on global equity markets. Miners and raw material producers are weaker after China Oct producer prices fell by the most in 6 years, which undercut industrial metals prices and sent the price of copper (HGZ15 -0.65%) down -0.78% to a 2-1/2 month low. Asian stocks settled mostly lower: Japan +0.15%, Hong Kong -1.43%, China -0.18%, Taiwan -1.22%, Australia -0.40%, Singapore closed for holiday, South Korea -1.34%, India -1.45%. Japan's Nikkei Stock index bucked the trend and closed higher as bank stocks rallied after Reuters reported that the government is considering raising the deposit limit on savings accounts by between 3 million yen ($24,347) and 5 million yen this fiscal year. Losses in Chinese stocks were limited on speculation the weaker-than-expected China Oct CPI gives the PBOC more room for monetary easing.

The dollar index (DXY00 +0.13%) is up +0.20%. EUR/USD (^EURUSD) is down -0.18% on the prospects for additional easing measures from the ECB. USD/JPY (^USDJPY) is up +0.03%.

Dec T-note prices (ZNZ15 +0.15%) are up +5.5 ticks.

ECB Board member and Bank of Finland Governor Liikanen said that "decelerating growth in the emerging economies threatens to dampen global activity" and the Governing Council "is willing and able to act by using all the instruments available within its mandate if warranted in order to maintain an appropriate degree of monetary accommodation."

Reuters reports that four unnamed ECB Governing Council members say a consensus is forming around cutting the deposit rate in December, which currently stands at -0.2%. Three of the policymakers say debate is now about the size of the rate cut with some arguing that a -0.1% reduction is already priced in by markets.

China Oct CPI rose +1.3% y/y, less than expectations of +1.5% y/y and the slowest pace of increase in 5 months.

China Oct PPI fell -5.9% y/y, right on expectations and the fastest pace of decline in 6 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Oct import price index (expected -0.1% m/m and -9.4% y/y, Sep -0.1% m/m and -10.7% y/y), (2) Sep wholesale inventories (expected +0.1% m/m, Aug +0.1% m/m) and Sep wholesale trade sales (expected -0.1% m/m, Aug -1.0% m/m), (3) the Treasury's auction of $24 billion of 10-year T-notes, and (4) Chicago Fed President Charles Evans' speech on a panel at a conference on government debt management.

There are 2 of the S&P 500 companies that report earnings today: DR Horton (consensus $0.63), Rockwell Automation (1.78).

U.S. IPO's scheduled to price today: Mesoblast Ltd (MBLTY), WaVe Life Sciences (SVE), Voyager Therapeutics (VYGR), Equity Bancshares (EQBK), Advanced Accelerator (AAAP), American CareSource Holdings (GNOW).

Equity conferences today include: Morgan Stanley Global Chemicals & Agriculture Conference on Mon-Tue, Baird Healthcare Conference on Mon-Wed, Edison Electric Institute Financial Conference on Mon-Wed, Robert W. Baird & Co. Industrial Conference on Mon-Wed, Citi Financial Technology Conference on Tue, J.P. Morgan Ultimate Services Investor Conference on Tue, Mizuho Securities Technology Corporate Access Day on Tue, Mitsubishi UFJ Securities: Healthcare Conference - Seattle on Tue, Bank of America Merrill Lynch Global Energy Conference on Tue-Wed, Credit Suisse Boston Financials Conference on Tue-Wed, Credit Suisse Health Care Conference on Tue-Wed, Wells Fargo Securities Technology, Media and Telecom Conference on Tue-Wed, RBC Capital Markets Technology, Internet, Media and Telecommunications Conference on Tue-Wed, Stephens Inc Fall Investment Conference on Tue-Wed, Jefferies Energy Conference on Wed, UBS Building & Building Products CEO Conference on Wed.

OVERNIGHT U.S. STOCK MOVERS

The Gap (GPS -2.81%) slid over 4% in pre-market trading after it reported Oct same-store-sales were down -3.0% y/y, weaker than estimates of down-0.4% y/y. Gap then lowered guidance on Q3 adjusted EPS to 62 cents-63 cents, below consensus of 67 cents.

DR Horton (DHI -2.14%) reported Q4 EPS of 71 cents, higher than consensus of 63 cents.

Rockwell Automation (ROK -1.11%) reported Q4 EPS of $1.57, less than consensus of $1.78.

Synchrony Financial (SYF -4.30%) will replace Genworth (GNW +0.42%) in the S&P 500 as of the close of trading on Nov 17.

Foot Locker (FL +0.36%) was downgraded to 'Neutral' from 'Buy' at Buckingham.

Rackspace Hosting (RAX -4.21%) climbed over 7% in after-hours trading after it reported Q3 EPS of 26 cents, higher than consensus of 21 cents.

International Flavors & Fragrances (IFF +0.80%) reported Q3 EPS of $1.39, higher than consensus of $1.35.

McDermott (MDR -2.60%) rose over 5% in after-hours trading after it reported Q3 adjusted EPS of 9 cents, better than consensus of 5 cents.

Caesars Entertainment (CZR -1.72%) fell over 2% in after-hours trading after it reported a continuing operations Q3 EPS loss of -$5.44 and said that results prior to Jan of 2015 have not been adjusted to reflect its filing for Chapter 11.

Lionsgate (LGF -2.77%) tumbled 6% in after-hours trading after it reported an unexpected Q2 EPS loss of -19 cents, weaker than consensus of a 6 cent profit.

OPKO Health (OPK -0.10%) rose over 5% in after-hours trading after it reported Q3 EPS of 25 cents, much better than consensus for a -2 cent loss.

Jazz Pharmaceuticals (JAZZ -1.82%) fell nearly 4% in after-hours trading after it lowered guidance on fiscal 2015 EPS to $9.45-$9.60 from an Aug estimate of $9.45-$9.75, below consensus of $9.66.

Depomed (DEPO +1.21%) climbed 6% in after-hours trading after it reported adjusted Q3 EPS of 33 cents, better than consensus of 19 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 -0.27%) this morning are down -2.50 points (-0.12%). Monday's closes: S&P 500 -0.98%, Dow Jones -1.00%, Nasdaq -1.10%. The S&P 500 on Monday sold off to a 1-week low and closed lower on concern that the slowdown in China will undercut global growth after China Oct exports fell -6.9% y/y, more than expectations of -3.2% y/y, and after China Oct imports fell -18.8% y/y, more than expectations of -15.2% y/y. In addition, the OECD cut its global economic forecast for the second time in three months, cutting its global 2015 GDP estimate to 2.9% from a Sep forecast of 3.0%.

Dec 10-year T-notes (ZNZ15 +0.15%) this morning are up +5.5 ticks. Monday's closes: TYZ5 -0.50, FVZ5 unch. Dec T-notes on Monday posted a fresh 3-1/2 month nearest-futures low but recovered and closed little changed. T-notes were undercut by negative carryover from Friday's larger-than-expected increase in U.S. Oct non-farm payrolls and on the larger-than-expected increase in U.S. Oct average hourly earnings, which bolstered the likelihood that the Fed will raise interest rates at December's FOMC meeting. T-notes were also undercut by comments from Chicago Fed President Evans, who previously argued that the Fed should wait until next year to raise interest rates, when he said he's "not predisposed" to vote against raising interest rates at the Dec FOMC meeting. T-notes recovered nearly all of their losses on increased safe-haven demand after stocks sold off.

The dollar index (DXY00 +0.13%) this morning is up +0.195 (+0.20%). EUR/USD (^EURUSD) is down -0.0019 (-0.18%). USD/JPY (^USDJPY) is up +0.04 (+0.03%). Monday's closes: Dollar Index -0.189 (-0.19%), EUR/USD +0.0011 (+0.10%), USD/JPY +0.05 (+0.04%). The dollar index on Monday closed lower on strength in EUR/USD after the Eurozone Nov Sentix investor confidence rose more than expected. The dollar index was also undercut by the weaker-than-expected China Oct exports and imports report that signaled weakness in China's economy that may slow global growth and prompt the Fed to delay an interest rate increase.

Dec crude oil (CLZ15 +0.59%) this morning is up +12 cents (+0.27%) and Dec gasoline (RBZ15 -0.30%) is down -0.0090 (-0.66%). Monday's closes: CLZ5 -0.42 (-0.95%), RBZ5 +0.0021 (+0.15%). Dec crude oil and gasoline on Monday settled mixed with Dec crude at a 1-week low. Crude oil prices were undercut by concerns about global economic growth after the weak Chinese trade report and after the OECD cut its 2015 and 2016 global GDP estimates. Gasoline prices found support on the weaker dollar and the increase in the crack spread to a 2-month high, which signals strong demand for gasoline and distillate products.

GLOBAL EVENT CALENDAR11/10/2015

US	0830 ET	Oct import price index expected -0.1% m/m and -9.4% y/y, Sep -0.1% m/m and -10.7% y/y.
	1000 ET	Sep wholesale inventories expected +0.1% m/m, Aug +0.1% m/m. Sep wholesale trade sales expected -0.1% m/m, Aug -1.0% m/m.
	1200 ET	USDA Nov WASDE crop production.
	1300 ET	Treasury auctions $24 billion 10-year T-notes.
	1715 ET	Chicago Fed President Charles Evans speaks on a panel at a conference on government debt management.
JPN	0000 ET	Japan Oct eco-watchers survey current expected +0.5 to 48.0, Sep 47.5. Oct eco-watchers survey outlook expected +0.2 to 49.3, Sep 49.1.

U.S. STOCK CALENDAR11/10/2015

Company	Ticker	Time	Event Description	Period	Estimate
DR Horton Inc	DHI US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	0.627
Rockwell Automation Inc	ROK US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	1.78
Ventas Inc	VTR US	8:30	Investor Day	Y 2015
Rockwell Automation Inc	ROK US	8:30	Q4 2015 Earnings Call	Q4 2015
Cummins Inc	CMI US	9:00	Analyst Day	Y 2015
International Flavors & Fragrances Inc	IFF US	10:00	Q3 2015 Earnings Call	Q3 2015
DR Horton Inc	DHI US	10:00	Q4 2015 Earnings Call	Q4 2015
McDonald's Corp	MCD US	13:00	Investor Meeting	Y 2015
Broadcom Corp	BRCM US	14:00	Extraordinary Shareholders Meeting	Y 2015
Avago Technologies Ltd	AVGO US	14:00	Extraordinary Shareholders Meeting
AGL Resources Inc	GAS US		Shareholders Meeting
Automatic Data Processing Inc	ADP US		Annual General Meeting
Corning Inc	GLW US		Shareholders Meeting
EI du Pont de Nemours & Co	DD US		Shareholders Meeting
Duke Energy Corp	DUK US		Shareholders Meeting
Emerson Electric Co	EMR US		Shareholders Meeting
EQT Corp	EQT US		Shareholders Meeting
Helmerich & Payne Inc	HP US		Shareholders Meeting
CenterPoint Energy Inc	CNP US		Shareholders Meeting
Kroger Co/The	KR US		Shareholders Meeting
Eli Lilly & Co	LLY US		Shareholders Meeting
Exelon Corp	EXC US		Shareholders Meeting
Plum Creek Timber Co Inc	PCL US		Shareholders Meeting
Sherwin-Williams Co/The	SHW US		Shareholders Meeting
JM Smucker Co/The	SJM US		Shareholders Meeting
BB&T Corp	BBT US		Shareholders Meeting
TECO Energy Inc	TE US		Shareholders Meeting
United Technologies Corp	UTX US		Shareholders Meeting
WEC Energy Group Inc	WEC US		Shareholders Meeting
PACCAR Inc	PCAR US		Shareholders Meeting
Costco Wholesale Corp	COST US		Shareholders Meeting
Linear Technology Corp	LLTC US		Shareholders Meeting
United Parcel Service Inc	UPS US		Roadshow - Day7	Y 2015
Darden Restaurants Inc	DRI US		Shareholders Meeting
Darden Restaurants Inc	DRI US		Shareholders Meeting
Diamond Offshore Drilling Inc	DO US		Shareholders Meeting
Principal Financial Group Inc	PFG US		Roadshow - Day 2	Y 2015
Cimarex Energy Co	XEC US		Shareholders Meeting
Avago Technologies Ltd	AVGO US		Special Meeting - M&A Vote
Spectra Energy Corp	SE US		Shareholders Meeting
Visa Inc	V US		Shareholders Meeting
Visa Inc	V US		Shareholders Meeting
Visa Inc	V US		Shareholders Meeting