Churchill Downs - Chart of the Day

Churchill Downs (CHDN) is the Barchart Chart of the Day.  The gaming company has a Trend Spotter buy signal, a Weighted Alpha of 60.93+ and gained 55.81% in the last year.

The Chart of the Day belongs to Churchill Downs (CHDN).  I found the gaming stock by using Barchart to sort today's Top Stocks to Own list first for the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 11/2 the stock gained 12.78%.

Churchill Downs, the world's most legendary racetrack, has conducted Thoroughbred racing and presented America's greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world's largest distributor of casual games; The country's leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI's sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI's launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution.

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

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 10.72% in the last month
• Relative Strength Index 79.74%
• Technical support level at 230.70
• Recently traded at 236.60 with a 50 day moving average of 211.97

Fundamental factors:

• Market Cap $3.60 billion
• P/E 33.52
• Dividend yield .65%
• Revenue expected to be down 16.30% next year
• Earnings estimated to increase 28.70% this year, an additional 19.40% next year and continue to compound at an annual rate of 12.00% for the next 5 years
• Wall Street analysts issued 2 buy and 3 hold recommendations on the stock

5 Great Large Caps

Today I wanted to find 5 Large Caps that still had some upside potential.  I used Barchart to sort the S&P 500 Large Cap Index stocks first by the highest technical buy signals, then I used the Flipchart feature to find charts with consistent price appreciation.  Today's Watch List includes L Brand (LB), Akamai Technologies (AKAM), Allstate (ALL), Ameriprise Financial Services (AMP) and American Express (AXP)

L Brands (LB)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 22.52% in the last month
• Relative Strength Index 79.81%
• Technical support level at 24.56%
• Recently traded at 57.22 with a 50 day moving average of 45.92

Akamai Technologies (AKAM)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 7.21% in the last month
• Relative Strength Index 76.63%
• Technical support level at 55.06
• Recently traded at 56.77 with a 50 day moving average of 52.52

Allstate (ALL)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 5.47% in the last month
• Relative Strength Index 78.98%
• Technical support level at 101.53
• Recently traded at 103.16 with a 50 day moving average of 95.90

Ameriprise Financial Services (AMP)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 4.14% in the last month
• Relative Strength Index 71.88%
• Technical support level at 158.76
• Recently traded at 165.82 with a 50 day moving average of 155.72

American Express (AXP)

Barchart technical indicators:

• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 5 new highs and up 2.70% in the last month
• Relative Strength Index 76.29%
• Technical support level at 96.40
• Recently traded at 98.92 with a 50 day moving average of 93.41

Morning Call 12/4

Barchart Morning Call

Barchart.com - Mon Dec 4, 6:58AM CST

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 +0.62%) this morning are up +0.62% at a new record high after the Senate on Saturday passed legislation that will cut the U.S. corporate tax rate to 20% from 35% in 2019. Also giving U.S. equity markets a boost is the legislation in the House that will push the next funding deadline to the Friday before Christmas, which will avoid a potential partial government shutdown this Friday and give U.S. legislators time to put together a spending bill. In addition, U.S. political risks eased after ABC news suspended a reporter they said that had made a "serious error" on his report on former national security adviser Flynn, saying that Trump had not asked Flynn to contact Russia as a presidential candidate, but that Trump had asked Flynn to contact Russia when he was president-elect about issues including working together to fight ISIS. European stocks are up +1.20% as industrial companies with significant revenue exposure to the U.S. also moved higher on the passage of U.S. tax cuts. Asian stocks settled mixed: Japan -0.49%, Hong Kong +0.22%, China -0.24%, Taiwan +0.49%, Australia -0.07%, Singapore -0.32%, South Korea +1.23%, India +0.11%.

The dollar index (DXY00 +0.33%) is up +0.27%. EUR/USD (^EURUSD) is down -0.34%. USD/JPY (^USDJPY) is up +0.64% at a 2-week high as the rally in stocks reduces the safe-haven demand for the yen.

Mar 10-year T-note prices (ZNH18 -0.24%) are down -8 ticks.

Eurozone Dec Sentix inventor confidence fell -2.9 to 31.1, weaker than expectations of -0.6 to 33.4.

Eurozone Oct PPI rose +0.4% m/m, stronger than expectations of +0.3% m/m, although Sep was revised downward to +0.5% m/m from the previously reported +0.6% m/m.

The Japan Nov consumer confidence index rose +0.4 to a 4-year high of 44.9. right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Oct factory orders (expected -0.4%, Sep +1.4% and +0.7% ex transportation), (2) USDA weekly grain export inspections.

Notable Russell 1000 earnings reports today include: Casey's General Store (consensus $1.39).

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

Equity conferences this week: Cowen Energy & Natural Resources Conference on Mon-Tue, Mizuho Americas Global Investor Conference on Mon-Tue, Raymond James Technology Conference on Mon-Wed, UBS Global Media and Communications Conference on Mon-Wed, Wells Fargo Event Information & Logistics Tech Summit on Mon-Wed, Global Mizuho Investor Conference on Tue, Goldman Sachs U.S. Financial Services Conference on Tue-Wed, Barclays Eat, Sleep, Play Conference on Tue-Wed, Nasdaq Investor Conference on Tue-Wed, NASDAQ Conference on Tue-Wed, Capital One Securities Energy Conference on Tue-Thu, Barclays Technology Conference on Wed, Berenberg Bank European Healthcare Conference on Wed, BIOMEDevice Conference on Wed, Barclays Global Technology, Media and Telecommunications Conference on Wed-Thu, Wells Fargo Pipeline MLP and Energy Symposium on Wed-Thu, Citi Global Health Care Conference on Wed-Thu, th Capital Utah Corporate Access Event Conference on Wed-Thu, Bank of America Merrill Lynch Emerging Technology Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Netflix (NFLX -0.41%) was initiated with a recommendation of 'Buy' at Moness, Crespi, Hardt & Co with a 12-month target price of $250.

United Parcel Service (UPS -0.94%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank.

Host Hotels (HST -1.41%) was upgraded to 'Buy' from 'Neutral' at BTIG LLC with a 12-month target price of $22.

Marvell Technology Group Ltd (MRVL -0.72%) was downgraded to 'Hold' from 'Buy' at Benchmark Company LLC.

eBay (EBAY +1.53%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital Markets with a price target of $45.

American Homes (AMH +0.37%) was upgraded to 'Outperform' from 'In-line' t Evercore ISI with a target price of $25.

Palo Alto Networks (PANW -1.36%) was upgraded to 'Outperform' from 'Market Perform' at William Blair & Co.

Globus Medical (GMED -1.03%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities with a price target of $46.

Old Dominion Freight Line (ODFL -1.42%) was downgraded to 'Sell' from 'Hold' at Deutsche Bank with a price target of $101.

Nabors Industries Ltd (NBR +5.30%) rose 2% in after-hours trading after it announced the commencement of a joint venture with Saudi Aramco.

Amgen (AMGN +0.88%) gained +0.2% in after-hours trading after its Repatha drug was approved by the FDA to prevent heart attack and stroke.

Signet Jewelers (SIG -0.57%) lost 1% in after-hours trading after the Consumer Financial Protection Bureau cited alleged violations by Signet under the Truth in Lending Acts related to in-store credit practices, promotions, and payment protection products.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.62%) this morning are up +16.50 points (+0.62%) at a new record-nearest-futures high. Friday's closes: S&P 500 -0.20%, Dow Jones -0.17%, Nasdaq -0.43%. The S&P 500 on Friday closed lower on political turmoil after former national security adviser Flynn entered a plea agreement with prosecutors and agreed to cooperate in the investigation against the Trump administration. Stocks were also undercut by the -0.5 point decline in the U.S. Nov ISM manufacturing index to 58.2, slightly weaker than expectations of -0.4 to 58.3. Stocks rebounded from their worst levels after Senate Republicans said they had the votes to pass their tax bill.

Mar 10-year T-note prices (ZNH18 -0.24%) this morning are down -8 ticks. Friday's closes: TYH8 +12.00, FVH8 +3.75. Mar 10-year T-notes on Friday shot higher on increased safe-haven demand after an ABC news report erroneously stated that former national security adviser Flynn would testify that President Trump told him to contact Russian officials. T-notes were also boosted by dovish comments from St. Louis Fed President Bullard who said if the Fed stays on the current pace of rate hikes the yield curve will invert and that would be negative for the U.S. economy.

The dollar index (DXY00 +0.33%) this morning is up +0.25 (+0.27%). EUR/USD (^EURUSD) is down -0.0040 (-0.34%) and USD/JPY (^USDJPY) is up +0.72 (+0.64%) at a 2-week high. Friday's closes: Dollar Index -0.162 (-0.17%), EUR/USD -0.0008(-0.07%), USD/JPY -0.37 (-0.33%). The dollar index on Friday closed lower on the plea agreement by former national security adviser Flynn, which took the Mueller investigation to the highest levels of the White House. The dollar was also undercut by the fall in the 10-year T-note yield, which reduces the dollar's interest rate differentials.

Jan crude oil (CLF18 -1.03%) this morning is down -64 cents (-1.10%) and Jan gasoline (RBF18 -0.88%) is -0.0151 (-0.87%). Friday's closes: Jan WTI crude +0.96 (+1.67%), Jan gasoline +0.0116 (+0.67%). Jan crude oil and gasoline on Friday closed higher on the weaker dollar and on positive carry-over from the action Thursday by OPEC and Russia to extend their crude production cuts until the end of 2018.

Metals prices this morning are mixed with Feb gold (GCG18 -0.53%) -6.5 (-0.51%), Mar silver (SIH18 -0.29%) -0.053(-0.32%) and Mar copper (HGH18 +0.40%) +0.012 (+0.37%). Friday's closes: Feb gold +5.6 (+0.44%), Mar silver -0.086(-0.52%), Mar copper +0.0285 (+0.93%). Metals on Friday settled mixed. Metals prices were boosted by a weaker dollar and by the slump in stocks, which boosted safe-haven demand for precious metals. Copper prices were supported by the -5,000 MT decline in LME copper inventories to a 17-3/4 month low, a sign of tighter copper supplies. Silver and copper prices were undercut by the bigger-than-expected decline in the U.S. Nov ISM manufacturing index, which was negative for industrial metals demand.

GLOBAL EVENT CALENDAR12/04/2017

		Monday, Dec 4
US	1000 ET	Oct factory orders expected -0.4%, Sep +1.4% and +0.7% ex transportation.
	1100 ET	USDA weekly grain export inspections.
		Tuesday, Dec 5
US	0830 ET	Oct trade balance expected -$47.4 billion, Sep -$43.5 billion.
	0945 ET	Revised Nov Markit services PMI expected +0.6 to 55.3, prelim-Nov -0.6 to 54.7.
	1000 ET	Nov ISM non-manufacturing PMI expected -1.1 to 59.0, Oct +0.3 to 60.1.

U.S. STOCK CALENDAR12/04/2017

Name	Ticker	Time	Description	Period	Estimate
SL Green Realty Corp	SLG US	9:00	Investor Conference
Casey's General Stores Inc	CASY US		Q2 2018 Earnings Release	Q2 18	1.391

PulteGroup - Chart of the Day

PulteGroup (PHM) is the Barchart Chart of the Day.  The home builder has a Trend Spotter buy signal, a Weighted Alpha of 92.10+ and gained 84.56% in the last year.

Today's Chart of the Day belongs to PulteGroup (PHM).  Last night, I was discussing with Carole of Melbourne Beach all the different ways I used Barchart to select the Chart of the Day and how useful all of their sorting tools are.  Today I used Barchart to sort the Russell 3000 Index stocks first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more.  Next I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy in 8/15 the stock gained 32.94%.

Pulte Corporation is a publicly held holding company whose subsidiaries engage in the homebuilding and financial services businesses. The company's significant subsidiaries include Pulte Financial Companies, Inc., Pulte Diversified Companies, Inc., and other subsidiaries which are engaged in the homebuilding business.

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:

• 80% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 18 new highs and up 11.61% in the last month
• Relative Strength Index 81.84%
• Technical support level 33.26
• Recently traded at 33.94 with a 50 day moving average of 29.55

Fundamental factors:

• Market Cap $9.98 billion
• P/E 16.65
• Dividend yield 1.05%
• Revenue expected to grow 159.20% this year and another 62.00% next year
• Earnings estimated to increase 32.50% this year, an additional 42.70% next year and continue to compound at an annual rate of 22.50% for at least the next 5 years
• Wall Street analysts issue 7 strong buy, 4 buy and 4 hold recommendations on the stock

Carole, I hope this pick pays off for you.

AxoGen - Chart of the Day

AxoGen (AXGN) is the Barchart Chart of the Day.  The regenerative medicine company has a Trend Spotter buy signal, A weighted Alpha of 223.44+ and gained 208.88% in the last year.

The Chart of the Day belongs to AxoGen (AXGN).  I found the regenerative medicine stock by using Barchart to sort today's 52 Week New High list first for the highest Weighted Alpha, then for technical buy signals of 80% or more.  I then used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Spotter signaled a buy on 11/20 the stock gained 7.61%.

AxoGen Corp. is a regenerative medicine company engaged in the development and commercialization of technologies for peripheral nerve reconstruction and regeneration. It offers products for the repair of peripheral nerve injuries. AxoGen Corp was formerly known as LecTec Corporation.

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:

• 233.44+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20,50 and 100 Day moving averages
• 12 new highs and up 29.53% in the last month
• Relative Strength Index 67.92%
• Technical support level at 25.10
• Recently traded at 26.40 with a 50 day moving average of 21.52

Fundamental factors:

• Market Cap $876 million
• Revenue expected to grow 44.10% this year and another 40.30% next year
• Earnings estimated to increase 17.90% this year and an additional 46.90% next year
• Wall Street analysts issued 2 strong buy and 4 buy recommendations on the stock

Valhi - Chart of the Day

Valhi (VHI) is the Barchart Chart of the Day.  The diversified chemical company has a Trend Spotter buy signal, a Weighted Alpha of 181.08+ and gained 125.09% in the last year.

The Chart of the Day belongs to Valhi (VHI).  I found the diversified chemical stock by using Barchart to sort today's Top Stocks to Own list first for the highest Weighted Alpha, then again using the Flipchart feature to find a chart with consistent price appreciation.  Since the Trend Spotter signaled a buy in 10/2 the stock gained 140.45%.

Valhi Inc. operates through majority-owned subsidiaries or less than majority-owned affiliates in the chemicals, component products, waste management and titanium metals industries. These subsidiaries and affiliates are NL Industries, Inc. , CompX International Inc., Waste Control Specialists LLC, and Titanium Metal Corporation.

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:

• 181.08+ Weighted Alpha
• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 63.75% in the last month
• Relative Strength Index 76.86%
• Technical support level at 6.17
• Recently traded at 6.44 with a 50 day moving average of 3.74

Fundamental factors:

• Market Cap $2.23 billion
• P/E 10.80
• Dividend yield 1.35%
• Revenue expected to grow 9.20% next year
• Earnings estimated to increase 273.70% this year and compound at an annual rate of 25.50% over the next 5 years
• Although the one Wall Street analysts following the stock thinks it will under perform the market, the individual investors following the stock on Motley Fool voted 59 to 30 that the stock will out perform the market

Morning Call 11/28

Barchart Morning Call

Barchart.com - Tue Nov 28, 6:39AM CST

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 +0.11%) this morning are up +0.11% on optimism U.S. legislators will be able to pass tax cuts his year. European stocks are up +0.48% led by a 3% gain in Royal Dutch Shell Plc after it restored its full cash dividend for the first time in more than 2 years and said it will buy back at least $25 billion of stock by 2020. Gains in the overall market were limited due to weakness in mining stocks as Dec COMEX copper (HGZ17 -1.93%) slumped -1.87% to a 1-week low on Chinese demand concerns. Asian stocks settled mixed: Japan -0.04%, Hong Kong -0.02%, China +0.34%, Taiwan -0.41%, Australia -0.08%, Singapore +0.17%, South Korea +0.44%, India -0.31%. China's Shanghai Composite rebounded from a 3-month low and closed higher after China's Kweichow Moutai, the world's biggest liquor company by market value, jumped 4% and closed higher for the first time since Nov 16 when the Xinhua News Agency said the stock had been rising too fast. 

The dollar index (DXY00 +0.17%) is up +0.17%. EUR/USD (^EURUSD) is down -0.13%. USD/JPY (^USDJPY) is up +0.24%.

Dec 10-year T-note prices (ZNZ17 -0.06%) are down -2.5 ticks.

In its semi-annual report, the OECD cautioned that financial markets are too optimistic as "evidence continues to build that financial asset prices are inconsistent with expectations for future growth and the policy stance, exacerbating the risks of financial corrections and growth downdrafts."

German Dec GfK consumer confidence was unchanged at 10.7, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Oct wholesale inventories (expected +0.4%, Sep +0.3%), (2) Sep FHFA house price index (expected +0.5% m/m, Aug +0.7% m/m. Q3 house price purchase index, Q2 +1.6% q/q), (3) Sep S&P CoreLogic composite-20 home price index (expected +0.3% m/m and +6.0% y/y, Aug +0.45% m/m and +5.92% y/y), (4) Conference Board Nov U.S. consumer confidence (expected -1.9 to 124.0, Oct +5.3 to 125.9), (5) Senate Banking Committee holds hearing on Fed Chair nominee Jerome Powell, (6) Nov Richmond Fed manufacturing index (expected +2 to 14, Oct -7 to 12), (7) Treasury auctions $28 billion of 7-year T-notes.

Notable Russell 1000 earnings reports today include: Marvel Technology (consensus $0.33), Nuance Communications (0.15), Autodesk (-0.13).

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

Equity conferences this week: Credit Suisse Global TMT Conference on Mon-Wed, Credit Suisse Technology Media & Telecom Conference on Tue, UBS Global Real Estate CEO/CFO Conference on Tue, Piper Jaffray Health Care Conference on Tue-Wed, ACI European Base Oils & Lubricants Interactive Summit on Wed, Citi Basic Materials Conference on Wed-Thu, Bank of America Merrill Lynch Leveraged Finance Conference on Wed-Thu, Credit Suisse Industrials Conference on Wed-Thu, Evercore ISI Inaugural Biopharma Catalyst/Deep Dive Conference on Wed-Thu, ACI Cyber Security Oil, Gas, Power Conference on Thu, Deutsche Bank MedTools and Diagnostics One-on-One Day on Thu, HSBC High Yield Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Home Depot (HD +1.06%) was upgraded to 'Overweight' from 'Neutral' at Atlantic Equities LLP with a price target of $197.

Lowe's (LOW +0.74%) was downgraded to 'Neutral' from 'Overweight' at Atlantic Equities LLP.

Hormel Foods (HRL -0.67%) may move higher this morning after it raised guidance for full-year 2018 EPS to $1.62 to $1.72 from a prior view of $1.60 to $1.70.

Tech Data (TECD +0.85%) climbed almost 5% in after-hours trading after it reported Q3 adjusted EPS of $2.00, stronger than consensus of $1.92, and then said it sees Q4 adjusted EPS of $3.35 to $3.65, higher than consensus of $3.32.

UnitedHealth Group (UNH -0.05%) slid 1% in after-hours trading after it said it sees 2018 adjusted EPS of $10.55 to $10.85, the mid-point below consensus of $10.82.

Thor Industries (THO -0.60%) rallied over 10% in after-hours trading after it reported Q1 EPS from continuing operations of $2.43, well above consensus of $1.86.

MTS Systems (MTSC +0.36%) rose 1% in after-hours trading after it reported Q4 adjusted EPS of 44 cents, higher than consensus of 35 cents.

Medpace Holdings (MEDP -1.20%) lost nearly 2% in after-hours trading after it announced a proposed secondary offering of 4.0 million shares of its common stock by investment funds affiliated with Cinven Capital Management General Partner Limited.

Dova Pharmaceuticals (DOVA -0.45%) gained over 1% in after-hours trading after its new drug application for avatrombopag was granted priority review by the FDA.

Venator Materials PLC (VNTR -0.52%) slid over 1% in after-hours trading after it launched a secondary public offering of 18 million shares of its common stock by holder Huntsman Corporation.

Aratana Therapeutics (PETX +2.99%) fell over 7% in after-hours trading after it announced that it had commenced an underwritten registered public offering of $35 million in shares of its common stock.

Ardmore Shipping (ASC -1.12%) dropped 8% in after-hours trading after it announced a proposed secondary offering of 5.58 million shares of its common stock by holder GA Holdings LLC.

Apollo Endosurgery (APEN -0.25%) surged over 20% in after-hours trading after it received FDA approval for its OverStitch Sx endoscopic suturing system.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.11%) this morning are up +2.75 points (+0.11%). Monday's closes: S&P 500 -0.04%, Dow Jones +0.10%, Nasdaq -0.05%. The S&P 500 on Monday posted a new record high but gave up its advance and closed slightly lower. Stocks were undercut by the -1.42% fall in crude oil prices, which undercut energy stocks, and by renewed North Korean tensions after Japan said it has indications that North Korea is preparing for a missile launch. Stocks were supported by the unexpected +6.2% increase in U.S. Oct new home sales to a 10-year high of 685,000, stronger than expectations of -6.1% to 627,000.

Dec 10-year T-note prices (ZNZ17 -0.06%) this morning are down -2.5 ticks. Monday's closes: TYZ7 +5.00, FVZ7 +3.00. Dec 10-year T-notes on Monday closed higher on reduced inflation expectations as the -1.42% decline in crude oil prices helped push the 10-year T-note breakeven inflation rate down to a 1-month low. T-notes also saw some safe-haven demand on reports that North Korea may be preparing to launch a ballistic missile.

The dollar index (DXY00 +0.17%) this morning is up +0.158 (+0.17%). EUR/USD (^EURUSD) is down -0.0015 (-0.13%) and USD/JPY (^USDJPY) is up +0.27 (+0.24%). Monday's closes: Dollar Index +0.122 (+0.13%), EUR/USD -0.0035 (-0.29%), USD/JPY -0.44 (-0.39%). The dollar index on Monday recovered from a 2-month low and closed higher on the unexpected increase in U.S. Oct new home sales to a 10-year high and on hawkish comments from Dallas Fed President Kaplan who said he backs a rate hike in the "near future."

Jan crude oil (CLF18 -0.76%) this morning is down -56 cents (-0.96%) and Jan gasoline (RBF18 -1.05%) is -0.0220 (-1.23%). Monday's closes: Jan WTI crude -0.84 (-1.42%), Jan gasoline +0.0042 (+0.24%). Jan crude oil and gasoline on Monday settled mixed. Crude oil prices were undercut by a recovery in the dollar index from a 2-month low and by concern the recent rally in crude prices to a 2-1/3 year high will prompt U.S. shale-oil producers to boost output after Friday's data from Baker Hughes showed that active U.S. oil rigs in the week ended Nov 24 rose by +9 rigs to a 7-week high of 747 rigs. Crude oil prices received support from the jump in U.S. Oct new home sales to a 10-year high, which shows economic strength and is positive for fuel demand.

Metals prices this morning are mixed with Dec gold (GCZ17 +0.01%) -0.4 (-0.03%), Dec silver (SIZ17 +0.09%) +0.005 (+0.03%) and Dec copper (HGZ17 -1.93%) -0.059 (-1.87%) at a 1-week low. Monday's closes: Dec gold +7.1 (+0.55%), Dec silver +0.028 (+0.16%), Dec copper -0.0345 (-1.09%). Metals on Monday settled mixed with Dec gold at a 1-1/4 month high. Metals prices were boosted by Japanese report that North Korea is preparing a missile launch, which boosted safe-haven demand for precious metals, and by tighter copper supplies as LME copper inventories fell -9,400 MT to an 8-3/4 month low of 204,200 MT. Copper closed lower, however, after the Shanghai Composite fell to a 3-month low, which fueled concerns the Chinese economy may slow and curb demand for industrial metals.

GLOBAL EVENT CALENDAR11/28/2017

		Tuesday, Nov 28
US	0830 ET	Oct wholesale inventories expected +0.4%, Sep +0.3%. Oct retail inventories, Sep -1.0%.
	0900 ET	Sep FHFA house price index expected +0.5% m/m, Aug +0.7% m/m. Q3 house price purchase index, Q2 +1.6% q/q.
	0900 ET	Sep S&P CoreLogic composite-20 home price index expected +0.3% m/m and +6.0% y/y, Aug +0.45% m/m and +5.92% y/y.
	1000 ET	Conference Board Nov U.S. consumer confidence expected -1.9 to 124.0, Oct +5.3 to 125.9.
	1000 ET	Senate Banking Committee holds hearing on Fed Chair nominee Jerome Powell.
	1000 ET	Nov Richmond Fed manufacturing index expected +2 to 14, Oct -7 to 12.
	1300 ET	Treasury auctions $28 billion of 7-year T-notes.
		Wednesday, Nov 29
US	0700 ET	Weekly MBA mortgage applications, previous +0.1% with purchase sub-index +5.3% and refi sub-index -4.8%.
	0830 ET	Revised Q3 GDP expected +3.2% (q/q annualized), previous +3.0%. Q3 personal consumption expected +2.5%, previous +2.4%. Q3 GDP price index expected unrevised at +2.2%. Q3 core PCE deflator, previous +1.3% q/q.
	0830 ET	New York Fed President William Dudley (voter) takes part in a moderated discussion about current economic issues at Rutgers University.
	1000 ET	Fed Chair Janet Yellen addresses the Joint Economic Committee of Congress on the U.S. economic outlook.
	1000 ET	Oct pending home sales expected +1.0% m/m and +3.0% y/y, Sep unch m/m and -5.4% y/y.
	1030 ET	EIA weekly Petroleum Status Report.
	1245 ET	San Francisco Fed President John Williams (non-voter) delivers keynote speech at the Annual Economic Forecast Luncheon sponsored by Arizona State University in Phoenix.
	1400 ET	Fed Beige Book.

U.S. STOCK CALENDAR11/28/2017

Name	Ticker	Time	Description	Period	Estimate
UnitedHealth Group Inc	UNH US	08:00	Investor Meeting
Bio-Rad Laboratories Inc	BIO US	09:00	Investor Day
Equifax Inc	EFX US		Investor Meeting
Nuance Communications Inc	NUAN US	Aft-mkt	Q4 2017 Earnings Release	Q4 17	0.145
Autodesk Inc	ADSK US	16:01	Q3 2018 Earnings Release	Q3 18	(0.13)
Marvell Technology Group Ltd	MRVL US	16:45	Q3 2018 Earnings Call	Q3 18
Marvell Technology Group Ltd	MRVL US	16:45	Q3 2018 Earnings Release	Q3 18	0.325
Nuance Communications Inc	NUAN US	17:00	Q4 2017 Earnings Call	Q4 17
Autodesk Inc	ADSK US	17:00	Q3 2018 Earnings Call	Q3 18