**Overnight Markets and News**
Sep E-mini S&Ps (ESU18 -0.08%) this morning are up +0.02% and European stocks are down -0.11%. Sep E-mine S&Ps posted a new 4-month high in overnight trade on strength in bank stocks. Bank of America is up 2% in pre-market trading after it reported Q2 adjusted EPS of 64 cents, higher than expectations of 57 cents, and Deutsche Bank AG jumped 5% after it said it sees Q2 quarterly earnings results well above market expectations. Gains in the overall market were limited due to weakness in energy stocks. Energy stocks retreated as Aug WTI crude oil prices (CLQ18 -1.63%) fall -1.62% on signs that Saudi Arabia is boosting oil supplies after people with knowledge of the matter said Saudi Arabia is offering extra crude oil cargoes on top of its contractual supplies to some buyers in Asia for August delivery. Also, the Trump administration said it is actively considering tapping into the Strategic Petroleum Reserve in an attempt to lower domestic gasoline prices. Asian stocks settled mostly lower: Japan closed for holiday, Hong Kong +0.05%, China -0.61%, Taiwan -0.43%, Australia -0.43%, Singapore -0.85%, South Korea -0.43%, India -0.60%. Chinese stocks fell back on mixed economic data after China's Jun industrial output slowed more than expected, although Jun retail sales increased more than expected and Q2 GDP growth came in right on expectations.
The dollar index (DXY00 -0.35%) is down -0.21%. EUR/USD (^EURUSD +0.34%) is up +0.31%. USD/JPY (^USDJPY unch) is down -0.04%.
Sep 10-year T-note prices (ZNU18 -0-010) are down -1 tick.
China Jun industrial production rose +6.0% y/y, weaker than expectations of +6.5% y/y.
China Q2 GDP grew at a 6.7% y/y pace, right on expectations.
China Jun retail sales rose +9.0% y/y, stronger than expectations of +8.8% y/y.
**U.S. Stock Preview**
Key U.S. news today includes: (1) Jun retail sales (expected +0.5% and +0.3% ex autos, May +0.8% and +0.9% ex autos), (2) Jul Empire manufacturing index (expected -4.0 to 21.0, Jun +4.9 to 25.0), (3) May business inventories (expected +0.4%, Apr +0.3%), (4) USDA weekly grain export inspections, (5) USDA weekly Crop Progress.
Notable S&P 500 earnings reports today include: Bank of America (consensus $0.57), Blackrock (6.57), Netflix (0.79), JB Hunt Transportation (1.28).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week: Sprott Natural Resource Symposium on Wed, 64th ISTH (International Society on Thrombosis and Haemostasis) Conference on Wed.
**Overnight U.S. Stock Movers**
Bank of America (BAC -0.76%) is up 2% in pre-market trading after it reported Q2 adjusted EPS of 64 cents, higher than consensus of 57 cents.
United Parcel Service (UPS +0.41%) was upgraded to 'Buy' from 'Neutral at UBS with a price target of $125.
Public Storage (PSA -0.63%) was downgraded to 'Underperform' from 'In-line' at Evercore ISI with a price target of $217.
Hasbro (HAS -0.90%) was downgraded to 'Underperform' from 'Market Perform' at BMO Capital Markets with a price target of $75.
Veoneer (VNE -1.12%) was rated a new 'Outperform' at BMO Capital Markets with a price target of $55.
Knight-Swift Transportation Holdings (KNX -0.21%) was upgraded to 'Overweight' from 'Equal-Weight' at Barclays with a price target of $55.
Novocure Ltd (NVCR -0.75%) was rated a new 'Outperform' at Evercore ISI with a price target of $46/
Autoliv (ALV +0.62%) was upgraded to 'Outperform' from 'Neutral' at Daiwa Securities with a price target of $118.
JM Smucker (SJM +1.21%) may open higher initially this morning after it boosted its quarterly dividend after the close Friday to 85 cents a share from 78 cents, above consensus of 82 cents.
Ryder System (R +0.70%) may open higher initially this morning after it unexpectedly boosted its quarterly dividend after the close Friday to 54 cents a share from 52 cents a share.
Skyline Champion (SKY -0.24%) filed to sell up to $100 million of its common stock under shelf registration.
Sangamo Therapeutics (SGMO -1.63%) fell 2% in after-hours trading after CTO Michael Holmes resigned effective July 20 to join a startup biotech company. He will be re[laced by Edward Rebar.
Mustang Bio (MBIO +0.67%) filed a $75 million mixed securities shelf.
ShiftPixy (PIXY +68.61%) rose 2% in after-hours trading after it reported Q3 preliminary gross billings rose $60.2 million versus $27.5 million y/y.
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 -0.08%) this morning are up +0.02% and European stocks are down -0.11%. Sep E-mine S&Ps posted a new 4-month high in overnight trade on strength in bank stocks. Bank of America is up 2% in pre-market trading after it reported Q2 adjusted EPS of 64 cents, higher than expectations of 57 cents, and Deutsche Bank AG jumped 5% after it said it sees Q2 quarterly earnings results well above market expectations. Gains in the overall market were limited due to weakness in energy stocks. Energy stocks retreated as Aug WTI crude oil prices (CLQ18 -1.63%) fall -1.62% on signs that Saudi Arabia is boosting oil supplies after people with knowledge of the matter said Saudi Arabia is offering extra crude oil cargoes on top of its contractual supplies to some buyers in Asia for August delivery. Also, the Trump administration said it is actively considering tapping into the Strategic Petroleum Reserve in an attempt to lower domestic gasoline prices. Asian stocks settled mostly lower: Japan closed for holiday, Hong Kong +0.05%, China -0.61%, Taiwan -0.43%, Australia -0.43%, Singapore -0.85%, South Korea -0.43%, India -0.60%. Chinese stocks fell back on mixed economic data after China's Jun industrial output slowed more than expected, although Jun retail sales increased more than expected and Q2 GDP growth came in right on expectations.
The dollar index (DXY00 -0.35%) is down -0.21%. EUR/USD (^EURUSD +0.34%) is up +0.31%. USD/JPY (^USDJPY unch) is down -0.04%.
Sep 10-year T-note prices (ZNU18 -0-010) are down -1 tick.
China Jun industrial production rose +6.0% y/y, weaker than expectations of +6.5% y/y.
China Q2 GDP grew at a 6.7% y/y pace, right on expectations.
China Jun retail sales rose +9.0% y/y, stronger than expectations of +8.8% y/y.
**U.S. Stock Preview**
Key U.S. news today includes: (1) Jun retail sales (expected +0.5% and +0.3% ex autos, May +0.8% and +0.9% ex autos), (2) Jul Empire manufacturing index (expected -4.0 to 21.0, Jun +4.9 to 25.0), (3) May business inventories (expected +0.4%, Apr +0.3%), (4) USDA weekly grain export inspections, (5) USDA weekly Crop Progress.
Notable S&P 500 earnings reports today include: Bank of America (consensus $0.57), Blackrock (6.57), Netflix (0.79), JB Hunt Transportation (1.28).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week: Sprott Natural Resource Symposium on Wed, 64th ISTH (International Society on Thrombosis and Haemostasis) Conference on Wed.
**Overnight U.S. Stock Movers**
Bank of America (BAC -0.76%) is up 2% in pre-market trading after it reported Q2 adjusted EPS of 64 cents, higher than consensus of 57 cents.
United Parcel Service (UPS +0.41%) was upgraded to 'Buy' from 'Neutral at UBS with a price target of $125.
Public Storage (PSA -0.63%) was downgraded to 'Underperform' from 'In-line' at Evercore ISI with a price target of $217.
Hasbro (HAS -0.90%) was downgraded to 'Underperform' from 'Market Perform' at BMO Capital Markets with a price target of $75.
Veoneer (VNE -1.12%) was rated a new 'Outperform' at BMO Capital Markets with a price target of $55.
Knight-Swift Transportation Holdings (KNX -0.21%) was upgraded to 'Overweight' from 'Equal-Weight' at Barclays with a price target of $55.
Novocure Ltd (NVCR -0.75%) was rated a new 'Outperform' at Evercore ISI with a price target of $46/
Autoliv (ALV +0.62%) was upgraded to 'Outperform' from 'Neutral' at Daiwa Securities with a price target of $118.
JM Smucker (SJM +1.21%) may open higher initially this morning after it boosted its quarterly dividend after the close Friday to 85 cents a share from 78 cents, above consensus of 82 cents.
Ryder System (R +0.70%) may open higher initially this morning after it unexpectedly boosted its quarterly dividend after the close Friday to 54 cents a share from 52 cents a share.
Skyline Champion (SKY -0.24%) filed to sell up to $100 million of its common stock under shelf registration.
Sangamo Therapeutics (SGMO -1.63%) fell 2% in after-hours trading after CTO Michael Holmes resigned effective July 20 to join a startup biotech company. He will be re[laced by Edward Rebar.
Mustang Bio (MBIO +0.67%) filed a $75 million mixed securities shelf.
ShiftPixy (PIXY +68.61%) rose 2% in after-hours trading after it reported Q3 preliminary gross billings rose $60.2 million versus $27.5 million y/y.
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"!!
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