**Overnight Markets and News**
Sep E-mini S&Ps (ESU18 +0.22%) this morning are up +0.13% at a 3-3/4 month high on optimism for strong Q2 S&P 500 company earnings that will begin to be released later this week. A +0.42% rally in Aug WTI crude oil (CLQ18 +0.46%) is also giving energy stocks a boost. European stocks are up +0.32% at a 3-week high, but gains are limited after the German Jul ZEW expectations of economic growth fell -8.6 to a 5-3/4 year low of -24.7 as trade tensions weighed on sentiment. Asian stocks settled mostly higher: Japan +0.66%, Hong Kong-0.02%, China +0.44%, Taiwan +0.34%, Australia -0.44%, Singapore +1.42%, South Korea +0.34%, India +0.85%. An increase in Chinese wholesale prices is positive for economic growth prospects and gave Chinese stocks a boost after China Jun PPI rose +4.7% y/y, the biggest increase in 6 months. Strength in exporters fueled a rally in Japan's Nikkei Stock Index to a 1-week high as USD/JPY rose to a 1-1/2 month high, which boosts the earnings prospects of Japanese exporters.
The dollar index (DXY00 +0.33%) is up +0.35%. EUR/USD (^EURUSD -0.39%) is down -0.50% after the German Jul ZEW expectations of economic growth fell more than expected to a 5-3/4 year low. USD/JPY (^USDJPY +0.41%) is up +0.43% at a 1-1/2 month high.
Sep 10-year T-note prices (ZNU18 -0-020) are down -1.5 ticks.
The German Jul ZEW expectations of economic growth fell -8.6 to a 5-3/4 year low of -24.7, weaker than expectations of -2.8 to -18.9.
UK May manufacturing production rose +0.4% m/m, weaker than expectations of +0.7% m/m. May industrial production fell -0.4% m/m, weaker than expectations of +0.5% m/m.
China Jun CPI rose +1.9% y/y, right on expectations. Jun PPI rose +4.7% y/y, stronger than expectations of +4.5% y/y and the biggest increase in 6 months.
**U.S. Stock Preview**
Key U.S. news today includes: (1) May JOLTS job openings (expected -43,000 to 6.655 million, Apr +65,000 to 6.698 million), (2) Treasury auctions $33 billion of 3-year T-notes.
Notable Russell 1000 earnings reports today include: PepsiCo (consensus $1.52).
U.S. IPO's scheduled to price today: none.
Equity conferences this week: SEMICON West Conference on Tue, CJS Securities Summer Conference on Tue.
**Overnight U.S. Stock Movers**
Weight Watchers International (WTW -4.49%) was rated a new 'Overweight' at KeyBanc Capital Markets with a price target of $115.
JPMorgan Chase (JPM +3.09%) was upgraded to 'Strong Buy' from 'Outperform' at Vining Sparks with a price target of $125.
Carnival (CCL +0.68%) fell 2% in pre-market trading after Goldman Sachs cut the company's earnings estimates citing "incremental fuel/FX headwinds offsetting ongoing demand strength."
Wynn Resorts Ltd (WYNN +2.08%) was upgraded to 'Buy' from 'Hold' at Stifel with a price target of $207.
Cboe Global Markets (CBOE +2.40%) was rated a new 'Buy' at Compass Point with a price target of $115.
Cerner (CERN +1.19%) was downgraded to 'Underperform' from 'In-line' at Evercore ISI with a price target of $55.
Northern Trust (NTRS +2.92%) was upgraded to 'Strong Buy' from 'Outperform' at Vining Sparks with a price target of $125.
Inspire Medical Systems (INSP -0.38%) jumped 7% in after-hours trading after it said Aetna will provide coverage for its Inspire therapy for patients with obstructive sleep apnea, effective immediately.
Cactus (WHD +4.46%) fell 4% in after-hours trading after it filed to sell 10 million shares of its stock via Citigroup and Credit Suisse.
Southern Co (SO -2.91%) was rated 'Overweight' at Barclays with a price target of $51.
Capstead Mortgage (CMO -0.32%) was downgraded to 'Market Perform' from 'Outperform' at Keefe, Bruyette & Woods with a price target of $9.
American Renal Associates Holdings (ARA +2.61%) gained more than 3% in after-hours trading after it reached a settlement with and will enter into a 3-year network agreement with UnitedHealthcare effective August 1, 2018.
Spero Therapeutics (SPRO +2.96%) fell more than 4% in after-hours trading after it announced that it had commenced an underwritten public offering of 4.5 million shares of its common stock.
OncoCyte (OCX +3.39%) soared more than 55% in after-hours trading after it reported the company's most recent study of clinical samples in the development of its DertermaVu, its lung cancer diagnostic blood test, has produced encouraging results.
**Here is what you need to know.**
Trump makes his Supreme Court pick. President Donald Trump has nominated Brett Kavanaugh, 53, to replace the retiring Justice Anthony Kennedy on the US Supreme Court.
China's latest inflation report points to upward pressure on prices around the world. Producer prices in China accelerated 4.7% year-over-year in June, suggesting building pricing pressures abroad.
Over half of all initial coin offerings for crypto startups fail within 4 months. Researchers from Boston University found that only 44.2% of crypto projects last more than 120 days. That number, however, jumps to 83% for those listed on an exchange.
Goldman Sachs has a new pick to win the World Cup. Goldman now sees Belgium beating England in the World Cup final, according to a new note out Monday.
Bank of America raises its earnings forecast for the rest of the year. The bank expects higher oil prices to drive earnings to $159 a share.
21st Century Fox is reportedly putting together a new offer for Sky. The deal, which would top the offer from Comcast, is said to be worth about 25 billion pounds ($33.14 billion), the Financial Times says, citing two people briefed on the matter.
Tesla hikes prices in China. The electric-car maker raised the prices of its Model S and Model X vehicles by over $20,000 a vehicle in the wake of rising trade tensions, Electrek reports.
PepsiCo beats. The soft-drink giant earned core earnings of $1.61 a share on revenue of $16.1 billion, beating Wall Street estimates.
Stock markets around the world are higher. Japan's Nikkei (+0.66%) led the gains in Asia, and Britain's FTSE (+0.15%) is out front in Europe. The S&P 500 is set to open up 0.22% near 2,790.
US economic data trickles out. Jolts Job Openings will be released at 10 a.m. ET. The US 10-year yield is up 1 basis point at 2.87%.
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents. For Related news and other stories please visit - http://www.wideawakenews.com/ For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72 Be Sure to register for faster updates and commentaries at - BLOG 1: - http://pulsescan.blogspot.com/ BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/ BULLS make money... BEARS make money.... PIGS get slaughtered! "TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!
Sep E-mini S&Ps (ESU18 +0.22%) this morning are up +0.13% at a 3-3/4 month high on optimism for strong Q2 S&P 500 company earnings that will begin to be released later this week. A +0.42% rally in Aug WTI crude oil (CLQ18 +0.46%) is also giving energy stocks a boost. European stocks are up +0.32% at a 3-week high, but gains are limited after the German Jul ZEW expectations of economic growth fell -8.6 to a 5-3/4 year low of -24.7 as trade tensions weighed on sentiment. Asian stocks settled mostly higher: Japan +0.66%, Hong Kong-0.02%, China +0.44%, Taiwan +0.34%, Australia -0.44%, Singapore +1.42%, South Korea +0.34%, India +0.85%. An increase in Chinese wholesale prices is positive for economic growth prospects and gave Chinese stocks a boost after China Jun PPI rose +4.7% y/y, the biggest increase in 6 months. Strength in exporters fueled a rally in Japan's Nikkei Stock Index to a 1-week high as USD/JPY rose to a 1-1/2 month high, which boosts the earnings prospects of Japanese exporters.
The dollar index (DXY00 +0.33%) is up +0.35%. EUR/USD (^EURUSD -0.39%) is down -0.50% after the German Jul ZEW expectations of economic growth fell more than expected to a 5-3/4 year low. USD/JPY (^USDJPY +0.41%) is up +0.43% at a 1-1/2 month high.
Sep 10-year T-note prices (ZNU18 -0-020) are down -1.5 ticks.
The German Jul ZEW expectations of economic growth fell -8.6 to a 5-3/4 year low of -24.7, weaker than expectations of -2.8 to -18.9.
UK May manufacturing production rose +0.4% m/m, weaker than expectations of +0.7% m/m. May industrial production fell -0.4% m/m, weaker than expectations of +0.5% m/m.
China Jun CPI rose +1.9% y/y, right on expectations. Jun PPI rose +4.7% y/y, stronger than expectations of +4.5% y/y and the biggest increase in 6 months.
**U.S. Stock Preview**
Key U.S. news today includes: (1) May JOLTS job openings (expected -43,000 to 6.655 million, Apr +65,000 to 6.698 million), (2) Treasury auctions $33 billion of 3-year T-notes.
Notable Russell 1000 earnings reports today include: PepsiCo (consensus $1.52).
U.S. IPO's scheduled to price today: none.
Equity conferences this week: SEMICON West Conference on Tue, CJS Securities Summer Conference on Tue.
**Overnight U.S. Stock Movers**
Weight Watchers International (WTW -4.49%) was rated a new 'Overweight' at KeyBanc Capital Markets with a price target of $115.
JPMorgan Chase (JPM +3.09%) was upgraded to 'Strong Buy' from 'Outperform' at Vining Sparks with a price target of $125.
Carnival (CCL +0.68%) fell 2% in pre-market trading after Goldman Sachs cut the company's earnings estimates citing "incremental fuel/FX headwinds offsetting ongoing demand strength."
Wynn Resorts Ltd (WYNN +2.08%) was upgraded to 'Buy' from 'Hold' at Stifel with a price target of $207.
Cboe Global Markets (CBOE +2.40%) was rated a new 'Buy' at Compass Point with a price target of $115.
Cerner (CERN +1.19%) was downgraded to 'Underperform' from 'In-line' at Evercore ISI with a price target of $55.
Northern Trust (NTRS +2.92%) was upgraded to 'Strong Buy' from 'Outperform' at Vining Sparks with a price target of $125.
Inspire Medical Systems (INSP -0.38%) jumped 7% in after-hours trading after it said Aetna will provide coverage for its Inspire therapy for patients with obstructive sleep apnea, effective immediately.
Cactus (WHD +4.46%) fell 4% in after-hours trading after it filed to sell 10 million shares of its stock via Citigroup and Credit Suisse.
Southern Co (SO -2.91%) was rated 'Overweight' at Barclays with a price target of $51.
Capstead Mortgage (CMO -0.32%) was downgraded to 'Market Perform' from 'Outperform' at Keefe, Bruyette & Woods with a price target of $9.
American Renal Associates Holdings (ARA +2.61%) gained more than 3% in after-hours trading after it reached a settlement with and will enter into a 3-year network agreement with UnitedHealthcare effective August 1, 2018.
Spero Therapeutics (SPRO +2.96%) fell more than 4% in after-hours trading after it announced that it had commenced an underwritten public offering of 4.5 million shares of its common stock.
OncoCyte (OCX +3.39%) soared more than 55% in after-hours trading after it reported the company's most recent study of clinical samples in the development of its DertermaVu, its lung cancer diagnostic blood test, has produced encouraging results.
**Here is what you need to know.**
Trump makes his Supreme Court pick. President Donald Trump has nominated Brett Kavanaugh, 53, to replace the retiring Justice Anthony Kennedy on the US Supreme Court.
China's latest inflation report points to upward pressure on prices around the world. Producer prices in China accelerated 4.7% year-over-year in June, suggesting building pricing pressures abroad.
Over half of all initial coin offerings for crypto startups fail within 4 months. Researchers from Boston University found that only 44.2% of crypto projects last more than 120 days. That number, however, jumps to 83% for those listed on an exchange.
Goldman Sachs has a new pick to win the World Cup. Goldman now sees Belgium beating England in the World Cup final, according to a new note out Monday.
Bank of America raises its earnings forecast for the rest of the year. The bank expects higher oil prices to drive earnings to $159 a share.
21st Century Fox is reportedly putting together a new offer for Sky. The deal, which would top the offer from Comcast, is said to be worth about 25 billion pounds ($33.14 billion), the Financial Times says, citing two people briefed on the matter.
Tesla hikes prices in China. The electric-car maker raised the prices of its Model S and Model X vehicles by over $20,000 a vehicle in the wake of rising trade tensions, Electrek reports.
PepsiCo beats. The soft-drink giant earned core earnings of $1.61 a share on revenue of $16.1 billion, beating Wall Street estimates.
Stock markets around the world are higher. Japan's Nikkei (+0.66%) led the gains in Asia, and Britain's FTSE (+0.15%) is out front in Europe. The S&P 500 is set to open up 0.22% near 2,790.
US economic data trickles out. Jolts Job Openings will be released at 10 a.m. ET. The US 10-year yield is up 1 basis point at 2.87%.
General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents. For Related news and other stories please visit - http://www.wideawakenews.com/ For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72 Be Sure to register for faster updates and commentaries at - BLOG 1: - http://pulsescan.blogspot.com/ BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/ BULLS make money... BEARS make money.... PIGS get slaughtered! "TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!
No comments:
Post a Comment