Morning Call 11/7

Barchart Morning Call

Barchart.com - Tue Nov 7, 6:33AM CST

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.01%) this morning are little changed, down -0.02%, after they rose to a record nearest-futures high in overnight trade. Strength in energy stocks lifted the overall market after Dec WTI crude oil (CLZ17 -0.10%) posted a new 2-1/3 year high in overnight trade. European stocks are down slightly by -0.17% after German Sep industrial production fell more than expected. European stocks were also undercut by disappointing quarterly earnings results from BMW AG and Associated British Foods Plc. Asian stocks settled mostly higher: Japan +1.73%, Hong Kong +1.39%, China +0.75%, Taiwan +0.50%, Australia +1.02%, Singapore +0.92%, South Korea -0.19%, India -1.07%. China's Shanghai Composite climbed to a 1-week high as the rally in crude oil to a 2-1/3 year high boosted Chinese energy stocks. Japan's Nikkei Stock Index soared to a 25-3/4 year high, bolstered by strong corporate quarterly earnings results and by Monday’s rally in USD/JPY to a 7-1/2 month high. Japanese consumer stocks also gained on optimism that consumer spending may improve after Japan Sep labor cash earnings rose +0.9% y/y, its largest increase in 14 months.

The dollar index (DXY00 +0.36%) is up +0.30% at a 1-week high as an increase in the 10-year T-note yield boosts the dollar's interest rate differentials. EUR/USD (^EURUSD) is down -0.36% at a 3-1/2 month low and was pressured by the weaker-than-expected German Sep industrial production. USD/JPY (^USDJPY) is up +0.40%.

Dec 10-year T-note prices (ZNZ17 -0.06%) are down -2 ticks.

German Sep industrial production fell -1.6% m/m, weaker than expectations of -0.9% m/m and the biggest decline in 9 months.

Eurozone Sep retail sales rose +0.7% m/m, stronger than expectations of +0.6% m/m and the largest increase in 11 months.

Japan Sep labor cash earnings rose +0.9% y/y, stronger than expectations of +0.5% y/y and the biggest increase in 14 months. Sep real cash earnings fell -0.1% y/y, stronger than expectations of -0.2% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Sep JOLTS job openings (expected -29,000 to 2.053 million, Aug -58,000 to 6.082 million), (2) Fed Governor Randal Quarles speaks at The Clearing House annual conference in New York, (3) Treasury auctions $24 billion of 3-year T-notes, (4) Sep consumer credit (expected +$17.5 billion, Aug +$13.965 billion).

Notable S&P 500 earnings reports today include: Emerson Electrict (consensus $0.82), Marriott (0.99), Welltower (1.06), Royal Caribbean Cruises (3.40), Cboe Global Markets (0.87), Expeditors Intl (0.61).

U.S. IPO's scheduled to price today: CBTX Inc (CBTX), Metropolitan Bank Holding (MCB).

Equity conferences this week: Citi Financial Technology Conference on Mon-Tue, EEI Financial Conference on Mon-Tue, Credit Suisse Health Care Conference on Tue-Wed, Bernstein Technology Innovation Summit on Tue-Wed, Stephens Fall Investment Conference on Tue-Wed, RBC Capital Markets Technology, Internet, Media and Telecommunications Conference on Tue-Wed, Robert W. Baird Global Industrial Conference on Tue-Wed, Wells Fargo Technology, Media & Telecom Conference on Tue-Wed, Deutsche Bank Gaming, Lodging & Leisure Conference on Wed.

OVERNIGHT U.S. STOCK MOVERS

Priceline Group (PCLN +0.45%) tumbled over 9% in after-hours trading after it said it sees Q4 adjusted EPS of $13.40 to $14.00, well below consensus of $15.56.

Weight Watchers International (WTW +0.27%) rallied 10% in after-hours trading after it reported Q3 EPS of 65 cents, higher than consensus of 51 cents, and then said it sees full-year EPS of $1.77 to $1.83, better than consensus of $1.46.

Red Robin Gourmet Burgers (RRGB +0.15%) sank 18% in after-hours trading after it reported Q3 adjusted EPS of 21 cents, well below consensus of 29 cents, and then forecast full-year EPS of $2.16 to $2.31 weaker than consensus of $2.80.

Las Vegas Sands (LVS +1.02%) was upgraded to 'Overweight' from 'Equal Weight' at Morgan Stanley with a price target of $72.

U.S. Silica Holdings (SLCA +3.55%) jumped 6% in after-hours trading after it reported Q3 revenue of 34 million, higher than consensus of $328.9 million.

Veritone (VERI +6.26%) tumbled over 12% in after-hours trading after it reported a Q3 net loss of -$1.31 per share, wider than consensus of -43 cents.

Lowe's (LOW -0.65%) was initiated with a recommendation of 'Overweight' at KeyBanc Capital Markets with a 12-month target price of $98.

Zayo Group Holdings (ZAYO -0.12%) slipped nearly 4% in after-hours trading after it reported Q1 EPS of 9 cents, weaker than consensus of 12 cents.

Tenet Healthcare (THC -3.29%) fell 5% in after-hours trading after it said it sees Q4 adjusted EPS of $1.20 to $1.35, below consensus of $1.55, and then lowered guidance on full-year adjusted EPS to 59 cents-74 cents from a prior view of 69 cents to 99 cents, weaker than consensus of 75 cents.

Avis Budget Group (CAR +1.10%) dropped 11% in after-hours trading after it lowered guidance on full-year adjusted EPS to $2.45 to $2.65 from a prior view of $2.40 to $2.85, weaker than consensus of $2.69.

TripAdvisor (TRIP +1.67%) dropped nearly 9% in after-hours trading after it reported Q3 revenue of $439 million, weaker than consensus of $451.7 million.

Lannett (LCI +2.42%) jumped over 8% in after-hours trading after it said it sees full-year net sales of $710 million to $720 million, well above consensus of $654.9 million.

AMC Entertainment Holdings (AMC +2.52%) slid 7% in after-hours trading after it said it sees 2017 revenue of $5.00 billion to $5.20 billion, the mid-point below consensus of $5.16 billion.

TrueCar (TRUE +1.55%) plunged 26% in after-hours trading after it reported Q3 revenue of $82.4 million, weaker than consensus of $86.9 million, and then forecast full-year revenue of $321 million to $323 million, below consensus of $328.6 million.

Manitowoc (MTW +1.20%) rose nearly 5% in after-hours trading after it reported Q3 revenue of $399.4 million, better than consensus of $385.1 million.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.01%) this morning are down -0.50 points (-0.02%). Monday's closes: S&P 500 +0.13%, Dow Jones +0.04%, Nasdaq +0.29%. The S&P 500 on Monday climbed to a new record high and closed higher on strength in technology stocks led by a +1.0% gain in Apple to a record high. There was also strength in energy stocks after the price of crude oil climbed +3.07% to a 2-1/3 year high.

Dec 10-year T-note prices (ZNZ17 -0.06%) this morning are down -2 ticks. Monday's closes: TYZ7 +6.50, FVZ7 +2.50. Dec 10-year T-notes on Monday posted a fresh 2-week high and closed higher on carry-over support from a rally in 10-year German bunds to a 1-3/4 month high and on increased safe-haven demand from geopolitical tensions in the Middle East after Saudi Arabia said an attempted missile attack on Riyadh's airport could be an act of war by Iran.

The dollar index (DXY00 +0.36%) this morning is up +0.284 (+0.30%) at a 1-week high. EUR/USD (^EURUSD) is down -0.0042 (-0.36%) at a 3-1/2 month low and USD/JPY (^USDJPY) is up +0.45 (+0.40%). Monday's closes: Dollar Index -0.184(-0.19%), EUR/USD +0.0002 (+0.02%), USD/JPY -0.36 (-0.32%). The dollar index on Monday fell back from a 1-week high and closed lower on increased safe-haven demand for the yen as USD/JPY declined on tensions between Iran and Saudi Arabi after Saudi Arabi said a weekend attempted missile strike at Riyadh's airport could be an act of war by Iran. The dollar was also undercut by the decline in the 10-year T-note yield to a 2-week low, which undercuts the dollar's interest rate differentials.

Dec crude oil (CLZ17 -0.10%) this morning is down -2 cents (-0.03%) and Dec gasoline (RBZ17 -0.51%) is -0.0079 (-0.43%). Monday's closes: Dec WTI crude +1.71 (+3.07%), Dec gasoline +0.0366 (+2.04%). Dec crude oil and gasoline on Monday closed higher with Dec crude at a 2-1/3 year high. Crude oil prices were boosted by geopolitical concerns that may lead to disruption of Middle Eastern crude supplies after Saudi Arabia blamed Iran for an attempted missile attack on Riyadh's international airport and said it could be considered an "act of war."

Metals prices this morning are weaker with Dec gold (GCZ17 -0.39%) -4.5 (-0.35%), Dec silver (SIZ17 -1.25%) -0.195(-1.13%) and Dec copper (HGZ17 -1.06%) -0.032 (-1.00%). Monday's closes: Dec gold +12.4 (+0.98%), Dec silver +0.401 (+2.38%), Dec copper +0.0400 (+1.28%). Metals on Monday closed higher on a weaker dollar and the -1,950 MT decline in LME copper inventories to a 1-3/4 month low of 268,450 MT, a sign of tighter supplies.

GLOBAL EVENT CALENDAR11/07/2017

		Tuesday, Nov 7
US	1000 ET	Sep JOLTS job openings expected -32,000 to 6.050 million, Aug -58,000 to 6.082 million.
	1235 ET	Fed Governor Randal Quarles speaks at The Clearing House annual conference in New York.
	1300 ET	Treasury auctions $24 billion of 3-year T-notes.
	1500 ET	Sep consumer credit expected +$17.5 billion, Aug +$13.965 billion.
		Wednesday, Nov 8
US	0700 ET	Weekly MBA mortgage applications, previous -2.6% with purchase sub-index -0.8% and refi sub-index -4.5%.
	1030 ET	EIA weekly Petroleum Status Report.
	1300 ET	Treasury auctions $23 billion of 10-year T-notes.

U.S. STOCK CALENDAR11/07/2017

Name	Ticker	Time	Description	Period	Estimate
Welltower Inc	HCN US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	1.055
Expeditors International of Washington Inc	EXPD US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	0.606
Royal Caribbean Cruises Ltd	RCL US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	3.398
Tapestry Inc	TPR US	06:45	Q1 2018 Earnings Release	Q1 18	0.36
Emerson Electric Co	EMR US	06:55	Q4 2017 Earnings Release	Q4 17	0.82
Cboe Global Markets Inc	CBOE US	07:30	Q3 2017 Earnings Release	Q3 17	0.874
Principal Financial Group Inc	PFG US	08:00	Roadshow
TripAdvisor Inc	TRIP US	08:30	Q3 2017 Earnings Call	Q3 17
Cboe Global Markets Inc	CBOE US	08:30	Q3 2017 Earnings Call	Q3 17
Tapestry Inc	TPR US	08:30	Q1 2018 Earnings Call	Q1 18
FMC Corp	FMC US	09:00	Q3 2017 Earnings Call	Q3 17
Delphi Automotive PLC	DLPH US	09:00	Extraordinary Shareholders Meeting
Welltower Inc	HCN US	10:00	Q3 2017 Earnings Call	Q3 17
International Flavors & Fragrances Inc	IFF US	10:00	Q3 2017 Earnings Call	Q3 17
Royal Caribbean Cruises Ltd	RCL US	10:00	Q3 2017 Earnings Call	Q3 17
Automatic Data Processing Inc	ADP US		Annual General Meeting - Proxy Fight for Board Representation
salesforce.com Inc	CRM US	14:00	Investor Day
Emerson Electric Co	EMR US	15:00	Q4 2017 Earnings Call	Q4 17
DaVita Inc	DVA US	Aft-mkt	Q3 2017 Earnings Release	Q3 17	0.941
DXC Technology Co	DXC US	Aft-mkt	Q2 2018 Earnings Release	Q2 18	1.525
CSRA Inc	CSRA US	16:15	Q2 2018 Earnings Release	Q2 18	0.481
Marriott International Inc/MD	MAR US	16:30	Q3 2017 Earnings Release	Q3 17	0.985
CSRA Inc	CSRA US	17:00	Q2 2018 Earnings Call	Q2 18
DaVita Inc	DVA US	17:00	Q3 2017 Earnings Call	Q3 17
DXC Technology Co	DXC US	17:00	Q2 2018 Earnings Call	Q2 18
Cimarex Energy Co	XEC US	23:00	Q3 2017 Earnings Release	Q3 17	0.962

Weight Watchers - Chart of the Day

Weight Watchers International (WTW) is the Barchart Chart of the Day.  The weight control company has a Trend Spotter buy signal, a Weighted Alpha of 331.88+ and gained 318.98% in the last year.

The Chart of the Day belongs to Weight Watchers International (WTW).  I found the weight control by using Barchart to sort the Russell 3000 Index stocks first for the highest Weighted Alpha, then for technical buy signals of 80% or more.  Since the Trend Spotter signaled a buy on 8/7 the stock gained 9.83%.

Weight Watchers International, Inc. is the largest provider of weight control programs in the world. The core of their business is weekly meetings, in which they present their scientifically designed program, incorporating group support and education about healthy eating patterns, behavior modification and physical activity.

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:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 32.71% in the last month
• Relative Strength Index 73.09%
• Technical support level at 48.06
• Recently traded at 47.41 with a 50 day moving average of 35.61

Fundamental factors:

• Market Cap $3.11 billion
• P/E 35.06
• Revenue expected to grow 11.30% this year and another 6.50% next year
• Earnings estimated to increase 41.70% this year, an additional 22.60% next year and continue to compound at an annual rate of 15.60% for the next 5 years
• Wall Street analysts issued 1 buy and 1 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