BARCHART MORNING CALL 12/12

BARCHART MORNING CALL

Thursday, December 12th, 2013View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ13 -0.04%) this morning are down -0.15% at a 3-week low and European stocks are down -0.51% at a 2-month low. Asian stocks closed lower: Japan -1.12%, Hong Kong -0.51%, China -0.11%, Taiwan -0.86%, Australia -0.92%, Singapore -0.06%, South Korea -0.58%, India -1.16%. U.S. stocks were undercut by concern the Fed may taper QE3 sooner than expected and European stocks fell after Eurozone industrial production unexpectedly fell in Oct. European bonds fell after ECB Council member Praet told the Financial Times that Eurozone banks may reduce purchases of sovereign debt to lower their risk profile. Commodity prices are mixed. Jan crude oil (CLF14 +0.24%) is up +0.32%. Jan gasoline (RBF14 +0.14%) is up +0.02%. Feb gold (GCG14 -1.76%) is down -1.52%. March copper (HGH14 -0.03%) is down -0.09%. Agricultural and livestock prices are weaker. The dollar index (DXY00 +0.03%) is up +0.02%. EUR/USD (^EURUSD) is up +0.01%. USD/JPY (^USDJPY) is up +0.29%. The Australian dollar fell to a 3-1/4 month low against the U.S. dollar after Australia's Nov unemployment rate matched a 4-1/3 year high, which fueled speculation of further rate cuts by the RBA. March T-note prices (ZNH14 -0.04%) are unchanged.
Eurozone Oct industrial production unexpectedly fell -1.1% m/m, much weaker than expectations for a +0.3% m/m increase and the biggest monthly decline in 13-months. On a year-over-year basis, Oct industrial production rose +0.2% y/y, weaker than expectations of +1.1% y/y.
ECB Council member Praet said "Treating banks' holdings of sovereign debt according to the risk that they pose to banks' capital makes it unlikely that the banks will use central bank liquidity to excessively increase their exposure to sovereign debt. This is because banks will be wary of the constraints placed on sovereign debt by the stress tests to which they are subject at the same time."
The Australia Nov employment change rose +21,000, better than expectations of +10,000, while the Nov unemployment rate rose an as expected +0.1 to 5.8% and matched the Aug level as the highest in 4-1/3 years.

U.S. STOCK PREVIEW

Today’s weekly initial unemployment claims report is expected to show an increase of +22,000 to 320,000, almost exactly reversing last week’s decline of -23,000 to 298,000. Weekly continuing claims are expected to show an increase of +13,000 to 2.757 million, reversing more than one-half of last week’s decline of -21,000 to 2.744 million. Today’s Nov retail sales report is expected to show a strong increase of +0.6%, adding to the +0.4% increase seen in October. The Nov retail sales report is expected to show a smaller increase of +0.2%, however, excluding the strength in Nov vehicle sales, which rose sharply to a new 6-1/2 year high of 16.31 million units from 15.15 million units in October. The Treasury today will sell $13 billion in 30-year T-bonds, concluding this week’s $64 billion coupon package.
There are two of the Russell 1000 companies that report earnings today: Adobe (consensus $0.32), Science Applications (0.56). Equity conferences during the remainder of this week include: Capital One Southcoast Energy Conference on Wed-Thu, Barclays Information and IT Services Forum on Thu, Barclays Select Series Information and IT Series Forum Conference on Thu, and AHIP Exchange Conference 2013 on Thu.

OVERNIGHT U.S. STOCK MOVERS

lululemon (LULU -1.11%) dropped 10% in pre-market trading after it cut guidance on fiscal 2013 EPS to $1.94-$1.96, below consensus $1.96, and said it sees fiscal 2013 revenue of $1.605 billion-$1.61 billion, weaker than consensus of $1.64 billion.
Southwest (LUV -3.28%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill.
Marathon Oil (MRO -1.14%) and Apache (APA -1.66%) were both downgraded to 'Neutral' from 'Buy' at Citigroup.
Oracle (ORCL -0.69%) was downgraded to 'Sector Perform' from 'Outperform' at RBC Capital.
Micron (MU -2.77%) was upgraded to 'Buy' from 'Neutral' at Nomura.
Danaher (DHR -1.62%) lowered guidance on fiscal 2014 EPS to $3.60-$3.75, below consensus of $3.81.
Moody's Investors Service has placed on review for downgrade the general obligation rating of the Commonwealth of Puerto Rico.
Men's Wearhouse (MW -1.92%) reported Q3 adjusted EPS of 90 cents, higher than consensus of 86 cents.
UNS Energy (UNS -0.99%) soared 30% in after-hours trading after it announced that it will be acquired by Fortis for $60.25 per share.
Athenahealth (ATHN -2.15%) slumped over 12% in after-hours trading after it lowered guidance on fiscal 2014 EPS to 98 cents-$1.10, well below consensus of $1.38.
Alliance Data Systems (ADS -1.45%) rose 3% in after-hours trading after it was announced that it will replace Abercrombie & Fitch (ANF -0.98%) in the S&P 500 after the market close on December 20.
Mohawk Industries (MHK -1.06%) climbed 2.5% in after-hours trading after it was announced that it will replace (JDSU -1.14%) in the S&P 500 after the market close on December 20.
Facebook (FB -1.71%) gained over 4% in after-hours trading after it was announced that it will replace Teradyne (TER -1.12%) in the S&P 500 after the market close on December 20.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ13 -0.04%) this morning aredown -2.75 points (-0.15%) at a 3-week low . The S&P 500 index on Wednesday closed lower after a Congressional budget accord boosted speculation that the Fed may start to taper QE3 sooner than expected. Another negative for stocks was year-end profit-taking with the S&P 500 up nearly 24% for the year. Closes: S&P 500 -1.13%, Dow Jones -0.81%, Nasdaq 100 -1.29%.
Mar 10-year T-notes (ZNH14 -0.04%) this morning are unchanged. Mar T-notes on Wednesday closed lower on expectations that U.S. lawmakers will pass a budget agreement that averts a government shutdown and gives the Fed the green light to begin tapering bond purchases. Another negative for T-note prices was weak demand for the Treasury’s $21 billion auction of 10-year T-notes, which had a 2.61 bid-to-cover ratio, below the 12-auction average of 2.74. Closes: TYH4 -11.50, FVH4 -6.00.
The dollar index (DXY00 +0.03%) this morning is up +0.017 (+0.02%). EUR/USD (^EURUSD) is up +0.0002 (+0.01%) and USD/JPY (^USDJPY) is up +0.30 (+0.29%). The dollar index on Wednesday posted a 5-week low. EUR/USD rallied to a 6-week high on reduced Eurozone sovereign debt concerns after the yield on Spain’s 5-year bonds tumbled to an 8-year low of 2.52%. Closes: Dollar index -0.072 (-0.09%), EUR/USD +0.00248 (+0.18%), USD/JPY -0.414 (-0.40%).
Jan WTI crude oil (CLF14 +0.24%) this morning is up +31 cents (+0.32%) and Jan gasoline (RBF14 +0.14%) is up +0.0004 (+0.02%). Jan crude oil and gasoline prices on Wednesday closed lower. Jan crude fell back from a 6-week high and Jan gasoline dropped to a 2-week low on bearish factors that included (1) weekly EIA data that showed U.S. crude oil production in the week ended Dec 6 rose +0.8% to a 25-year high of 8.075 million barrels a day, (2) U.S. distillate fuel production for the week ended Dec 6 of 5.26 million barrels a day, a 27-year high, (3) the larger-than-expected +6.717 million bbl increase in weekly gasoline stockpiles to a 2-month high of 219.15 million bbl, and (4) the +625,000 bbl increase in crude supplies at Cushing, OK, the delivery point for WTI futures, to a 4-1/2 month high of 41.223 million bbl. Closes: CLF4 -1.07 (-1.09%), RBF4 -0.0218 (-0.81%).

GLOBAL EVENT CALENDAR12/12/2013

US	0830 ET	Weekly initial unemployment claims expected +22,000 to 320,000, previous -23,000 to 298,000. Weekly continuing claims expected +13,000 to 2.757 million, previous -21,000 to 2.744 million.
	0830 ET	Nov retail sales expected +0.6% and +0.2% ex autos, Oct +0.4% and +0.2% ex autos.
	0830 ET	Nov import price index expected -0.7% m/m and -1.7% y/y, Oct -0.7% m/m and -2.0% y/y.
	0830 ET	USDA weekly Export Sales.
	1000 ET	Oct business inventories expected +0.3%, Sep +0.6%.
	1100 ET	Treasury announces amount of 2-year T-notes (previous $32 billion), 5-year T-notes (previous $35 billion), 7-year T-notes (previous $29 billion) and 5-year TIPS (previous $16 billion) to be auctioned Dec 17-19.
	1300 ET	Treasury auctions $13 billion 30-year T-bonds.
EUR	0300 ET	ECB President Mario Draghi speaks in the EU Parliament on ECB policy.
	0400 ET	ECB publishes monthly report for December.
	0500 ET	Eurozone Oct industrial production expected +0.3% m/m and +1.1% y/y, Sep -0.5% m/m and +1.1% y/y.
JPN	2330 ET	Revised Japan Oct industrial production, previous +0.5% m/m and +4.7% y/y. Oct capacity utilization, Sep +1.2% m/m.

U.S. STOCK CALENDAR12/12/2013

Company Name	Ticker	Time	Event Description	Period	Estimate
WW Grainger Inc	GWW US	8:00	November 2013 Sales and Revenue Call	2013
WW Grainger Inc	GWW US	8:00	November 2013 Sales and Revenue Release	2013
Stanley Black & Decker Inc	SWK US	8:00	Business Update Call
Cisco Systems Inc	CSCO US	8:00	Financial Analyst Conference	Y 2013
MetLife Inc	MET US	8:00	Investor Conference	Y 2013
International Game Technology	IGT US	8:30	Analyst Day	Y 2013
Nordson Corp	NDSN US	8:30	Q4 2013 Earnings Call	Q4 2013
DIRECTV	DTV US	8:30	Investor Day	Y 2013
Exelis Inc	XLS US	8:30	Business Update Call
Aetna Inc	AET US	9:00	Investor Conference	Y 2013
Exxon Mobil Corp	XOM US	10:00	FY 2014 Guidance Call	Y 2014
WR Grace & Co	GRA US	11:00	Business Update Call
Danaher Corp	DHR US	12:30	Investor and Analyst Meeting	Y 2013
AmerisourceBergen Corp	ABC US	12:45	Investor Day	Y 2013
Kimco Realty Corp	KIM US	13:00	Investor Day	Y 2013
Nielsen Holdings NV	NLSN US	13:00	Investor Day	Y 2013
Adobe Systems Inc	ADBE US	17:00	Q4 2013 Earnings Call	Q4 2013
Science Applications International Corp	SAIC US	17:00	Q3 2014 Earnings Call	Q3 2014
United Technologies Corp	UTX US	17:30	Analyst and Investor Meeting	Y 2013
Adobe Systems Inc	ADBE US	Aft-mkt	Q4 2013 Earnings Release	Q4 2013	0.319
Science Applications International Corp	SAIC US	Aft-mkt	Q3 2014 Earnings Release	Q3 2014	0.555
Myriad Genetics Inc	MYGN US	20:30	Analyst and Investor Day	Y 2013
Bristol-Myers Squibb Co	BMY US		FDA Adcomm, dapagliflozin (Forxiga), type II diabetes
Merck & Co Inc	MRK US		FDA Adcomm, Grastek, Timothy grass pollen allergy, immunotherapy tablet
Ascena Retail Group Inc	ASNA US		Annual General Meeting

5 Mid Cap Picks

Today I used Barchart to sort the S&P 400 Mid Cap Index for the stocks hitting the most frequent new highs then used to flipchart function to find the best charts.  Never use just one indicator to select stocks - always sort by your favorite indicator the use the flipchart feature to flip  through your results to find the stocks with positive charts.  Today list includes Exelis (XLS), Firstmerit (FMER), Signature Bank (SBNY), CBOE Holdings (CBOE) and Health Management Associates (HMA):

Exelis (XLS)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 12.27% in the last month
• Relative Strength Index 69.79%
• Barchart computes a technical support level at 12.85
• Recently traded at 13.33 with a 50 day moving average of 11.82

Firstmerit (FMER)

Barchart tehcnical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 7.52% in the last month
• Relative Strength Index 65.00%
• Barchart computes a technical support level at 19.10
• Recently traded at 19.50 with a 50 day moving average of 18.00

Signature Bank (SBNY)

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 2.73% in the last month
• Relative Strength Index 62.44%
• Barchart computes a technical support level at 77.49
• Recently traded at 62.44 with a 50 day moving average of 76.54

CBOE Holdings (CBOE)

Barchart technical indicators:

• 80% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 10 new highs and up 19.39% in the last month
• Relative Strength Index 63.60%
• Barchart computes a technical support level at 18.95
• Recently traded at 19.78 with a 50 day moving average of 16.98

Health Management Associates (HMA)

Barchart technical indicators:

• 72% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 41.76% in the last month
• Relative Strength Index 68.26%
• Barchart computes a technical support level at 14.91
• Recently traded at 15.64 with a 50 day moving average of 12.53

Barchart Morning Call 3/1

Barchart Morning Call

BC - 1 hr 41 mins ago

OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH13 -0.50%) this morning are down -0.38% on weaker-than-expected Chinese and UK manufacturing PMI reports, the climb in the Eurozone unemployment rate to a new record high of 11.9%, and the U.S. automatic spending cuts that go into effect today. European stocks are down sharply by -1.29%. Asian stocks closed mixed today with Japan up +0.41%, Hong Kong down -0.61%, and China down -0.17%. Commodity prices are showing a fairly sharp loss on average of -0.52%. April crude oil (CLJ13 -1.30%) is down -0.97%, April gasoline (RBJ13 -0.91%) is down -1.14%, April gold (GCJ13 -0.44%) is down -0.70%, May copper (HGK13 -1.78%) is sharply lower by -1.71%, grains and softs are lower, and livestock is higher. The dollar index (DXY00 +0.40%) is up +0.40% on increased safe-haven demand with the sell-off in U.S. and European stocks. EUR/USD (^EURUSD) is down -0.40% and USD/JPY (^USDJPY) is up +0.29%. June 10-year T-notes (ZNM13 +0.21%) are up 8 ticks.
President Obama today will meet at the White House with top Congressional leaders but the $85 billion in sequestration will go into effect today with no serious negotiations for an alternative. The big issue now is the continuing spending resolution that must be passed by March 27 to keep the government operating through the end of the fiscal year.
The Chinese government today raised down-payment requirements and raised mortgage rates for second-home mortgages in cities with "excessively fast" price gains to slow property price increases.
Chicago Fed President Evans last night speaking in Des Moines, Iowa said, We need to be careful not to undermine our own policies and remove accommodation prematurely, as the Japanese did." He said, "There remain plenty of headwinds and downside risks that can impede our progress."
Japan's Jan jobless rate of 4.2% was in line with market expectations and was down from a revised 4.3% in Dec (prelim 4.2%). The Jan job-to-applicant ratio rose to 0.85 from a revised 0.83 in Dec.
Japan's Jan national CPI fell to -0.3% y/y from -0.1% y/y in Dec was showed deeper deflation than market expectations of -0.2% y/y. The Feb Tokyo CPI fell to -0.9% y/y from a revised -0.5% y/y in Jan. The deeper deflation rates will provide a stronger basis for the new BOJ chief Kuroda to pursue the expanded asset purchase program that he is widely expected to adopt.
China's Feb HSBC manufacturing PMI fell by -1.9 points to 50.4 from the 2-year high of 52.3 posted in January, which was weaker than market expectations of 50.6. Meanwhile, the Feb manufacturing PMI reported by the National Bureau of Statstics fell by -0.3 points to 50.1 from 50.4 in Jan and was weaker than market expectations for a +0.1 point rise to 50.5.
Japan's Feb vehicle sales fell by -12.2% y/y, improving a bit from -12.9% y/y in Jan.
The UK Feb nationwide house price report of +0.2% m/m and unchanged y/y was roughly in line with market expectations.
The German Jan retail sales report of +3.1% m/m and +2.4% y/y was substantially better than market expectations of +0.9% m/m and -1.7% y/y. Dec was revised to -2.1% m/m and -3.7% y/y from -1.7% m/m and -4.7% y/y.
The UK Feb PMI manufacturing index fell by -2.6 points to 47.9 from a revised 50.5 in Jan and was -3.1 points weaker than market expectations for an increase to 51.0.
The German final-Feb manufacturing PMI was revised higher by +0.2 points to 50.3 from 50.1 in early-Feb, which was 0.2 points better than market expectations for an unrevised report of 50.1. The Eurozone final-Feb manufacturing PMI was revised +0.1 point higher to 47.9 from 47.8 in early-Feb.
The Eurozone Feb CPI report of +1.8% y/y eased from +2.0% in Jan and was weaker than market expectations of +1.9%.
The Eurozone Jan unemployment rate rose by +0.1 point to 11.9% from a revised 11.8% in Dec (prelim 11.7%) and showed a weaker labor market than market expectations for a report of 11.8%. The Feb unemployment rate of 11.9% was a record high for the series that has a history back to 1995. The number of unemployed persons rose by 201,000 to 18.998 million persons. The Jan youth unemployment rate rose to a record 24.2%, which was bad enough except that Spain's youth unemployment rate rose to an unfathomable 55.5%.

U.S. STOCK PREVIEW

The markets today will be closely watching a meeting at the White House between President Obama and Congressional leaders although no progress is expected to be made to avert the sequester that begins today. Today’s Feb ISM manufacturing index is expected to show a decline of -0.6 to 52.5, reversing the +2.9 point increase to 53.1 seen in January. Feb total vehicle sales are expected to dip to 15.10 mln from 15.23 mln in January as consumer spending takes at least a mild hit from the fiscal cliff deal. Today’s final-Feb U.S. consumer confidence index from the University of Michigan is expected to be unrevised from the early-Feb report of 76.3. Today’s Jan PCE deflator is expected to ease to a 3-1/4 year low of +1.2% y/y from +1.3% y/y in December. Meanwhile, the Jan core PCE deflator, which is the Fed’s preferred inflation measure, is expected to ease to +1.3% y/y from the 1-1/2 year low of +1.4% y/y seen in December.
Three of the S&P 500 companies are scheduled to release earnings today: Pepco Holdings (consensus $0.20), Best Buy (1.55), and Berkshire Hathaway ($1793.24).

March E-mini S&Ps (ESH13 -0.50%) this morning are down -5.75 points (-0.38%) on today's sequestration and on generally weak global economic data released today. The S&P 500 index on Thursday traded higher into early afternoon, but erased its advance and tumbled into the close after the Senate rejected a pair of partisan proposals to replace sequestration that begins Friday. Other negative factors included the weaker-than-expected Q4 U.S. GDP (+0.1% versus expectations of +0.6%) and the IMF's statement that it will cut its GDP forecast for the U.S. because of sequestration. Supportive factors included (1) carry-over strength from a rally in European stocks after ECB President Draghi said the ECB is "far" from considering a liquidity exit, (2) the larger-than-expected decline in weekly U.S. jobless claims (-22,000 versus expectations of -2,000) and (3) the unexpected increase in the Feb Chicago purchasing managers index to its best level in 11 months (+1.2 to 56.8 versus expectations of -1.6 to 54.0). Closes: S&P 500 -0.09%, Dow Jones -0.15%, Nasdaq -0.10%.

OVERNIGHT U.S. STOCK MOVERS

• Groupon (GRPN -24.25%) rallied 4% in after-hours trading after it announced CEO Andrew Mason will be stepping down.
• Atlantic Power (AT -3.39%) reported a Q4 EPS loss of -50 cents, greater than consensus for a -3 cent loss.
• Northern Oil and Gas (NOG -1.79%) reported Q4 adjusted EPS of 34 cents, better than consensus of 27 cents.
• Boeing (BA -0.59%) will eliminate hundreds of workers at its South Carolina Dreamliner factory over the course of this year, according to Dow Jones.
• Westar Energy (WR -0.29%) reported Q4 non-GAAP EPS of 36 cents, better than consensus of 20 cents and increased the dividend by 1 cent to 34 cents per share payable to shareholders of record as of March 11.
• Cempra (CEMP -0.61%) reported a Q4 EPS loss of -26 cents, smaller than consensus of a -32 cent loss.
• Dresser-Rand (DRC +0.65%) reported Q4 EPS of $1.05, weaker than consensus of $1.10.
• Flowers Foods (FLO -0.49%) won its bid for Hostess bread assets with a $360 million bid. The agreement includes, in addition to the brands, 20 bakeries, 38 depots and other assets.
• McDermott (MDR -1.78%) reported Q4 EPS of 17 cents, weaker than consensus of 23 cents.
• Salesforce.com (CRM +1.37%) rallied 4% in after-hours trading after the company reported Q4 adjusted EPS of 51 cents, better than consensus of 40 cents.
• Gap (GPS +1.26%) rose +2.5% in after-hours trading after it reported Q4 EPS of 73 cents, higher than consensus of 71 cents, and said it will raise its annual dividend by 20% per share from 50 cents in fiscal year 2012 to 60 cents in fiscal year 2013.

MARKET COMMENTS

June 10-year T-notes (ZNM13 +0.21%) this morning are up 8 ticks on increased safe-haven demand with the sell-off in stocks. June 10-year T-note prices on Thursday closed higher after U.S. GDP grew less than expected in Q4 along with increased safe-haven demand for Treasuries on concern the automatic spending cuts that begin Friday from sequestration will slow growth in the U.S. economy. Closes: TYM3 +3.5, FVM3 +2.0.
The dollar index (DXY00 +0.40%) this morning is up +0.33 points (+0.40%) on increased safe-haven demand with the sell-off in stocks and with today's beginning of sequestration. EUR/USD (^EURUSD) is down -0.0052 (-0.40%) on weak European economic data. USD/JPY (^USDJPY) is up +0.27 (+0.29%) as today's Japan CPI data will provide an even stronger justification for new BOJ chief Kuroda to expand the BOJ's asset purchase plan. The dollar index on Thursday jumped to a 6-month high and closed higher after EUR/USD retreated when ECB President Draghi signaled that the ECB has no intention of tightening monetary policy anytime soon. Closes: Dollar index +0.38 (+0.47%), EUR/USD -0.0081 (-0.61%), USD/JPY +0.32 (+0.34%).
April WTI crude oil (CLJ13 -1.30%) this morning is down -0.89 (-0.97%) and April gasoline (RBJ13 -0.91%) is down -0.0354 (-1.14%) on weak global economic data and today's U.S. sequestration. Crude oil and gasoline on Thursday closed mixed. April gasoline posted a 1-month low but rebounded higher after the Phillips 66 Wood River refinery in Roxana, Illinois and the Exxon Mobil Joliet, Illinois, refinery that supply the Midwest with gasoline, reported issues with production units that may limit their gasoline output. Other bullish factors included the bigger-than-expected decline in weekly U.S. jobless claims (-22,000 versus expectations of -2,000) and the Feb Chicago purchasing managers index which unexpectedly expanded to its best level in 11-months (+1.2 to 56.8), and suggests stronger fuel consumption. Bearish factors included (1) the rally in the dollar index to a 6-month high, (2) weaker-than-expected U.S. Q4 GDP (+0.1% q/q annualized versus expectations of +0.6%), and (3) concern that the U.S. economy and energy demand will slow once sequestration begins on Friday. Closes: CLJ3 -0.71 (-0.77%), RBJ3 +0.0054 (+0.17%).

GLOBAL EVENT CALENDAR03/01/2013

US	0830 ET	Jan personal income expected -2.4% m/m, Dec +2.6% m/m. Jan personal spending expected +0.2%, Dec +0.2% m/m.
	0830 ET	Jan PCE deflator expected +0.1% m/m and +1.2% y/y, Dec unch m/m and +1.3% y/y. Jan core PCE deflator expected +0.2% m/m and +1.3% y/y, Dec unch m/m and +1.4% y/y.
	0955 ET	Final-Feb U.S. consumer confidence (University of Michigan) expected unch at 76.3, early-Feb +2.5 to 76.3.
	1000 ET	Jan construction spending expected +0.4%, Dec +0.9% m/m.
	1000 ET	Feb ISM manufacturing index expected -0.6 to 52.5, Jan +2.9 to 53.1. Feb ISM prices-paid sub-index expected +0.8 to 57.3, Jan +1.0 to 56.5.
	1700 ET	Feb total vehicle sales expected 15.10 mln, Jan 15.23 mln. Feb domestic vehicle sales expected 12.00 mln, Jan 12.08 mln.
	2200 ET	Fed Chairman Ben Bernanke speaks on low long-term interest rates.
	n/a	Sequester of $85 billion in automatic spending cuts begin for March-September.
JPN	0000 ET	Japan Feb vehicle sales, Jan -12.9% y/y
GER	0200 ET	German Jan retail sales expected +0.9% m/m and -1.7% y/y, Dec -1.7% m/m and -4.7% y/y.
	0355 ET	German final-Feb manufacturing PMI expected unrevised at 50.1.
EUR	0400 ET	Eurozone final-Feb manufacturing PMI expected unrevised at 47.8.
	0500 ET	Eurozone Feb CPI estimate expected +1.9% y/y, Jan +2.0% y/y.
	0500 ET	Eurozone Jan unemployment rate expected +0.1 to 11.8, Dec 11.7%.
UK	0200 ET	U.K. Feb nationwide house prices expected +0.2% m/m and -0.2% y/y, Jan +0.5% m/m and unch y/y.
	0430 ET	U.K. Feb PMI manufacturing expected +0.2 to 51.0, Jan 50.8.
	0430 ET	U.K. Jan net consumer credit expected +0.2 bln pounds, Dec +0.6 bln pounds. Jan net lending on dwellings expected +0.8 bln pounds, Dec +1.0 bln pounds.
	0430 ET	U.K. Jan mortgage approvals expected 56,500, Dec 55,800.
	0430 ET	U.K. Jan M4 money supply, Dec +0.7% m/m and -1.0% y/y.

U.S. STOCK CALENDAR03/01/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
Hospitality Properties Trust	HPT US	Bef-mkt	Q4 2012 Earnings Release	Q4 2012	0.771
Golar LNG Ltd	GOL NO	Bef-mkt	Y 2012 Earnings Release	Y 2012	1.667
Pepco Holdings Inc	POM US	Bef-mkt	Q4 2012 Earnings Release	Q4 2012	0.202
Exelis Inc	XLS US	7:00	Q4 2012 Earnings Release	Q4 2012	0.457
Best Buy Co Inc	BBY US	8:00	Q4 2013 Earnings Release	Q4 2013	1.551
Eaton Corp PLC	ETN US	8:00	Analyst Conference	Y 2013
Public Service Enterprise Group Inc	PEG US	8:00	Analyst Conference	Y 2013
Best Buy Co Inc	BBY US	9:00	Q4 2013 Earnings Call	Q4 2013
Great Plains Energy Inc	GXP US	9:00	Q4 2012 Earnings Call	Q4 2012
Universal Health Services Inc	UHS US	9:00	Q4 2012 Earnings Call	Q4 2012
Integrys Energy Group Inc	TEG US	9:00	Q4 2012 Earnings Call	Q4 2012
Popular Inc	BPOP US	9:00	Investor Day	2012
Popular Inc	BPOP US	9:00	Investor Day	Y 2013
Dresser-Rand Group Inc	DRC US	9:00	Q4 2012 Earnings Call	Q4 2012
SandRidge Energy Inc	SD US	9:00	Q4 2012 Earnings Call	Q4 2012
Ford Motor Co	F US	9:30	February 2013 Sales and Revenue Release	2013
Ford Motor Co	F US	10:00	February 2013 Sales and Revenue Call	2013
McDermott International Inc	MDR US	10:00	Q4 2012 Earnings Call	Q4 2012
Westar Energy Inc	WR US	10:00	Q4 2012 Earnings Call	Q4 2012
Hospitality Properties Trust	HPT US	10:00	Q4 2012 Earnings Call	Q4 2012
Pepco Holdings Inc	POM US	10:00	Q4 2012 Earnings Call	Q4 2012
Exelis Inc	XLS US	10:00	Q4 2012 Earnings Call	Q4 2012
General Motors Co	GM US	11:00	February 2013 Sales and Revenue Call	2013
Berkshire Hathaway Inc	BRK/A US	16:00	Q4 2012 Earnings Release	Q4 2012	1793.24
General Motors Co	GM US		February 2013 Sales and Revenue Release	2013

5 Mid Cap Picks

Today I sorted the S & P 400 Mid Cap Index to find 5 stocks with great Barchart technical indicators and charts.  I found Zebra Technologies (ZBRA), Solera (SLH), Granite Construction (GVA),  Exelsis (XLS) and Unit Corp (UNT):

Zebra Technologies (ZBRA)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up 10.03% in the last month
• Relative Strength Index 64.97%
• Barchart computes a technical support level at 38.30
• Recently traded at 39.59 with a 50 day moving average of 37.48

Solera (SLH)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 11.64% in the last month
• Relative Strength Index 72.90%
• Barchart computes a technical support level at 51.60
• Recently traded at 52.08 with a 50 day moving average of 47.14

Granite Construction (GVA)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up 3.43% in the last month
• Relative Strength Index 66.27%
• Barchart computes  a technical support level at 29.99
• Recently traded at 31.08 with a 50 day moving average of 29.25

Exelis (XLS)

Barchart technical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 2.91% in the last month
• Relative Strength Index 61.04%
• Barchart computes  a technical support level at 11.04
• Recently traded at 11.31 with a 50 day moving average of 10.83

Unit Corp (UNT)

Barchart technical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 5.93% in the last month
• Relative Strength Index 65.41%
• Barchart computes a technical support level at 43.88
• Recently traded at 44.82 with a 50 day moving average of 42.12

MORE STOCK PICKS

3 Mid Cap S&P 400 stocks on the move up

This morning I used Barchart to screen the Mid Cap S&P 400 stocks to find the 3 with the most steady upward price momentum and found Fair Isaac (FICO), Under Armour (UA) and Exelis (XLS).

Fair Isaac (FICO)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 7.34% in the last month
• Relative Strength Index 66.31%
• Barchart computes a technical support level at 41.77
• Recently traded at 42.09 with a 50 day moving average of 38.66

Under Armour (UA)

Barchart techical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 16.56% in the last month
• Relative Strength Index 73.83%
• Barchart computes a technical support level at 94.86
• Recently traded at 92.26 with a 50 day moving average of 81.53

Exelis (XLS)

Barchart technical indicators:

• Stocks trading less than 6 month do not have Opinion or Trend Spotter ratings
• Above its 20 and 50 day moving averages
• 12 new highs and up 19.18% in the last month
• Relative Strength Index 77.53%
• Recently traded at 12.21 with a 50 day moving average of 10.26

3 Mid Cap S&P 400 stocks on the move up

Today I used Barchart to screen the Mid Cap S&P 400 stocks to find 3 having steady and positive price momentum and found Old Republic International (ORI) , Exelis (XKS) and Dick's Sporting Goods (DKS)

Old Republic International (ORI)

Barchart technical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 6.22% in the last month
• Relative Strength Index 66.85%
• Barchart computes a technical support level at 10.78
• Recently traded at 10.92 with a 50 day moving average of 9.95

Exelis (XLS)

Barchart technical indicators:

• Above its 20 and 50 day moving averages
• 13 new highs and up 10.90% in the last month
• Relative Strength Index 60.95%
• Recently traded at 11.19 with a 50 day moving average of 9.97

Dick's Sporting Goods (DKS)

Barchart technical indicators:

• 100% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 10 new highs and up 9.74% in the last month
• Relative Strength Index 80.78%
• Barchart computes a technical support level at 43.75
• Recently traded at 46.89 with a 50 day moving average of 41.36

Barchart Morning Call 2/3

Barchart Morning Call

Barchart.com - Fri Mar 02, 7:00AM CST

Overnight Developments

• Global stocks this morning are mixed with the Euro Stoxx 50 down -0.06% and Mar S&Ps down -4.80 points. Treasuries are higher and the dollar index climbed to a 1-week high while stocks and commodities retreated after an unexpected decline in Jan German retail sales stoked concern the Euro-Zone economy is slowing. Jan German retail sales fell -1.6% m/m, weaker than expectations of a +0.5% m/m gain. The euro slipped to a 1-week low against the dollar and pressured stocks as well after Jan Euro-Zone producer prices rose +0.7% m/m and +3.7% y/y, stronger than expectations of +0.5% m/m and +3.5% y/y. Treasuries rose after San Francisco Fed President Williams said late last night in a speech in Honolulu that the Fed should maintain an "extraordinarily supportive policy" to reduce an unemployment rate that will probably exceed 7% for years and "we may need to do more if the recovery falters or if inflation stays below 2%."
• Asian stocks today closed higher with Japan up +0.72%, China +1.77%, Australia +0.41%, South Korea +0.12%, India +0.30%. Japanese stocks finished higher after the yen fell to a 9-month low against the dollar and boosted the earnings prospects of exporters. Weaker-than expected economic data undercut the yen and also bolstered speculation the BOJ will expand its monetary easing measures. Jan Japan overall household spending fell -2.3% y/y, weaker than expectations of -0.9% y/y, while the Jan jobless rate unexpectedly rose +0.1 to 4.6%. Chinese stocks closed higher on speculation the government may introduce policies to support economic growth at a national congress next week. Feb South Korea CPI rose +3.1% y/y, posting a 14-month low and matching expectations, which should prompt the BOK to keep interest rates unchanged for a ninth month when it meets next week.

Overnight U.S. Stock News

• March S&Ps this morning are trading down -4.80 points. The U.S. stock market Thursday settled higher after weekly unemployment claims unexpectedly fell to a nearly 4-year low and overseas data point to strength in the global economy: Dow Jones +0.22%, S&P 500 +0.62%, Nasdaq Composite +0.74%. The Nasdaq posted an 11-year high. Bullish factors Thursday included (1) the unexpected decrease in weekly initial U.S. unemployment claims which matched a nearly 4-year low (-2,000 to 351,000 versus expectations of +4,000 to 355,000), (2) strength in retailers after the Feb ICSC monthly store sales rose more than expected and posted their biggest increase in 8 months (+6.7% y/y versus expectations of +3.5% y/y), and (3) optimism that the global expansion can continue after Q4 Japan capital spending excluding software unexpectedly rose +4.9% y/y, its largest gain in 4-3/4 years and Feb China manufacturing PMI rose +0.5 to 51.0, stronger than expectations of +0.3 to 50.8 and its best level in 5 months.
• Bearish factors included (1) concerns over the sustainability of the economic expansion after Jan U.S. personal spending and income rose less than expected (Jan personal spending +0.3% versus expectations of +0.4% and personal income +0.2% versus expectations of +0.4%), (2) the unexpected decrease in the Feb ISM manufacturing index (-1.7 to 52.4 versus expectations of +0.4 to 54.5), (3) the unexpected decline in Jan construction spending (-0.1% versus expectations of +1.0%), and (4) concerns about the European economy after the Jan Euro-Zone unemployment rate unexpectedly rose +0.1 to 10.7%, the highest in 14-1/4 years.

Today's Market Focus

• June 10-year T-notes this morning are up +8 ticks. T-note prices Thursday fell to a 1-week low and settled lower on an unexpected decline in weekly jobless claims along with strength in the stock market: TYM2 -13.5, FVM2 -3.0, EDU2 +2.0. Bearish factors Thursday included (1) the unexpected decrease in weekly initial U.S. unemployment claims which matched a nearly 4-year low (-2,000 to 351,000 versus expectations of +4,000 to 355,000), (2) the larger-than-expected increase in the Feb ISM prices paid sub-index that rose to an 8-month high (+6.0 to 61.5 versus expectations of +2.5 to 58.0), (3) comments from Atlanta Fed President Lockhart who said he is concerned that a new round of asset purchases by the Fed would fuel inflation while failing to spur lending, and (4) reduced safe-haven demand for Treasuries as stocks rallied. Bullish factors included (1) the weaker-than-expected Jan U.S. personal spending and income (Jan personal spending +0.3% versus expectations of +0.4% and personal income +0.2% versus expectations of +0.4%), (2) the unexpected decrease in the Feb ISM manufacturing index (-1.7 to 52.4 versus expectations of +0.4 to 54.5), and (3) the unexpected decline in Jan construction spending (-0.1% versus expectations of +1.0%).
• The dollar index this morning is stronger and posted a 1-week high with the dollar/yen +0.39 yen and the euro/dollar -0.92 cents. The dollar index Thursday settled slightly higher after the euro weakened when the Jan Euro-Zone unemployment rate unexpectedly increased while dollar gains were limited as a rally in stocks undercut the dollar's safe-haven demand: Dollar Index +0.069, USDJPY -0.034, EURUSD -0.00128. Bullish factors included (1) the unexpected increase in the Jan Euro-Zone unemployment rate which rose to a 14-1/4 year high of 10.7% and is euro negative and (2) the unexpected decline in weekly U.S. unemployment claims to their lowest level in nearly 4 years, which signals economic strength and is dollar supportive. Bearish factors included (1) reduced safe-haven demand for the dollar on a rally in stocks over optimism the global economy will continue to grow after the Feb China manufacturing PMI rose more than expected to its best level in 5 months and (2) strength in the euro after Spain's borrowing costs declined when it sold 4.5 billion euros of debt, its maximum target, with the 3-year notes yielding 2.617%, down from 3.332% at a similar auction last month.
• Apr crude oil prices this morning are down -92 cents a barrel and Apr gasoline is -4.48 cents per gallon. Crude oil and gasoline prices Thursday moved higher as Iranian concerns and strong global economic data offset signs of increased Saudi Arabian oil production: CLJ12 +$1.77, RBJ +8.18. Apr gasoline surge to a 9-1/2 month high. Bullish factors included (1) the weaker dollar, which boosts investment demand in commodities, (2) the unexpected decline in weekly initial U.S. unemployment claims that matched their lowest level in nearly 4 years, which signals economic strength that is positive for fuel demand, (3) the larger-than-expected increase in China's Feb manufacturing PMI, which indicates economic strength that may boost energy demand in the world's second-largest crude oil consumer, and (4) heightened geopolitical tensions over Iran after the U.S. Air Force chief of staff said the Joint Chiefs of Staff have prepared military options to strike Iranian nuclear sites in the event of a conflict. Bearish factors included (1) the unexpected increase in the Jan Euro-Zone unemployment rate to a 14-3/4 year high of 10.7%, which may keep European fuel demand constrained and (2) ramped up crude production in Saudi Arabia which increased its uses oil rigs in Jan to 49, the most in 4 years and more than double the 23 oil rigs it used a year earlier.

Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): BIG-Big Lots (BEST earnings consensus $1.74), XLS-Exelis (0.56), GCO-Genesco (1.67), MITI-Micromet (-0.24), ACHN-Achillion Pharmaceuticals (-0.16), REN-Resolute Energy (0.12), KWR-Quaker Chemical (0.75), SMP-Standard Motor Products (0.17).
Global Financial Calendar

Friday 3/2/12
United States
2000 ET	St. Louis Fed President Bullard speaks on the ?U.S. Economy in the Aftermath of the Financial Crisis,? at the BMO Bank of Montreal Lecture.
Germany
0200 ET	Jan German retail sales expected +0.5% m/m and +0.2% y/y, Dec +0.1% m/m and -0.9% y/y.
United Kingdom
0430 ET	Feb U.K. PMI construction expected +0.3 to 51.7, Jan -1.8 to 51.4.
Euro-Zone
0500 ET	Jan Euro-Zone PPI expected +0.5% m/m and +3.5% y/y, Dec -0.2% m/m and +4.3% y/y.
Canada
0830 ET	Dec Canada GDP expected +0.3% m/m and +1.8% y/y, Nov -0.1% m/m and +2.0% y/y.
CHI
2000 ET	Feb China non-manufacturing PMI, Jan -3.1 to 52.9.

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