**Overnight Markets and News**
Sep E-mini S&Ps (ESU18 -0.27%) this morning are down -0.26% and European stocks are down -0.22% as global stocks and commodities fall on signs that world trade tensions are not going away anytime soon. China's foreign ministry said that China isn't afraid of a trade war after U.S. economic advisor Kudlow blamed Chinese President Xi Jinping for stalled trade talks, while the EU was said to prepare a new list of American goods to hit with new tariffs, which shows the global trade spat may be escalating. A sell-off in metals is undercutting miners and metal producing stocks with Aug COMEX gold (GCQ18 -0.94%) down -1.01% and Sep COMEX copper (HGU18 -2.68%) down -2.92%, both at 1-year lows. Asian stocks settled mostly lower: Japan -0.13%, Hong Kong -0.38%, China -0.53%, Taiwan -0.07%, Australia +0.28%, Singapore +1.14%, South Korea -0.19%, India -0.06%. China's Shanghai Composite fell to a 1-week low as the yuan tumbled to a 1-year low against the dollar on signs the PBOC is comfortable with the yuan's depreciation. Japanese stocks closed lower on signs that trade tensions may be starting to undercut global trade after Jun trade data showed Japanese exports and imports both rose less than expected.
The dollar index (DXY00 +0.44%) is up +0.49% at a 3-week high after the Fed's Beige Book, released Wednesday afternoon, showed that the U.S. economy was still expanding. EUR/USD (^EURUSD -0.36%) is down -0.40% at a 2-1/2 week low. USD/JPY (^USDJPY +0.13%)is up +0.16%. GBP/USD (^GBPUSD -0.58%) is down -0.70% at a 10-1/4 month low after an unexpected decline in UK Jun retail sales reduced the prospects of a BOE rate hike.
Sep 10-year T-note prices (ZNU18 -0-035) are down -5 ticks at a 3-week low on the prospects for further Fed rate hikes after Wednesday's upbeat Fed Beige Book.
UK Jun retail sales ex auto fuel unexpectedly fell -0.6% m/m, weaker than expectations of +0.1% m/m. Jun retail sales including auto fuel fell -0.5% m/m, weaker than expectations of +0.2% m/m.
The Japan Jun trade balance was in surplus by +721.4 billion yen, wider than expectations of +531.2 billion yen. Jun exports rose +5.7% y/y, weaker than expectations of +7.0% y/y. Jun imports rose +2.5% y/y, weaker than expectations of +5.3% y/y.
**U.S. Stock Preview**
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +6,000 to 220,000, previous -18,000 to 214,000) and continuing claims (expected -10,000 to 1.729 million, previous -3,000 to 1.739 million), (2) Jul Philadelphia Fed business outlook survey (expected +1.6 to 21.5, Jun -14.5 to 19.9), (3) USDA weekly Export Sales, (4) Jun leading indicators (expected +0.4%, May +0.2%), (5) Treasury auctions $13 billion of 10-year TIPS.
Notable S&P 500 earnings reports today include: Microsoft (consensus $1.08), Capital One (2.62), Cintas (1.67), Union Pacific (1.95), Bank of NY Mellon (1.02), Fifth Third Bancorp (0.57), KeyCorp (0.42), Nucor (2.09), Genuine Parts (1.58), Danaher (1.09), BB&T (1.01), Travelers (2.41).
U.S. IPO's scheduled to price today: Replimune Group (REPL).
Equity conferences during the remainder of this week: none.
**Overnight U.S. Stock Movers**
eBay (EBAY +0.37%) is down more than 6% in pre-market trading after it cut its full-year net revenue estimate to $10.75 billion to $10.85 billion from a prior view of $10.9 billion to $11.1 billion, weaker than consensus of $10.95 billion.
Clorox (CLX -4.07%) was rated a new 'Sell' at UBS with a price target of $110.
Goldman Sachs (GS +0.10%) was upgraded to 'Strong Buy' from 'Market Outperform' at Vining Sparks with a price target of $285.
International Business Machines (IBM +0.72%) is up 3% in pre-market trading after it reported Q2 adjusted EPS of $3.08, higher than consensus of $3.04.
American Express (AXP +1.81%) fell 3% in after-hours trading after it reported Q2 revenue of $10.00 billion, below consensus of $10.07 billion and said Q2 consolidated expenses rose 7% y/y to $7.1 billion.
PTC (PTC -0.39%) dropped 4% in after-hours trading after it forecast Q4 revenue of $318 million to $323 million, well below consensus of $327.3 million.
Alcoa (AA -0.12%) fell 2% in after-hours trading after it cut its full-year adjusted Ebitda estimate to $3.0 billion-$3.2 billion from a prior view of $3.5 billion-$3.7 billion, citing tariffs that are causing "significant" headwind to earnings.
Century Aluminum (CENX +0.88%) slid nearly 3% in after-hours trading on negative carry-over from the action by Alcoa to cut its full-year earnings estimate.
Lions Gate Entertainment (@symbolPercentChange(LGF/B)) rose 2% in after-hours trading after it was upgraded to a 'Buy' from 'Hold' at SunTrust Robinson Humphrey with a price target of $27.
Resources Connection (RECN +0.29%) fell nearly 4% in after-hours trading after it reported Q4 EPS of 12 cents, well below consensus of 28 cents.
Noodles & Co (NDLS -2.07%) rallied more than 5% in after-hours trading after it reported Q2 revenue of $117.4 million, better than consensus of $114.3 million, and the raised its full-year revenue forecast to $450 million to $455 million, the midpoint above consensus of $451 million.
Datawatch (DWCH -3.00%) jumped 15% in after-hours trading after it reported Q3 revenue of $12.9 million, better than consensus of $11.8 million.
Sportsman's Warehouse Holdings (SPWH -2.97%) lost 2% in after-hours trading after holders offered 2.8 million shares of the company's stock via D.A. Davidson.
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 -0.27%) this morning are down -0.26% and European stocks are down -0.22% as global stocks and commodities fall on signs that world trade tensions are not going away anytime soon. China's foreign ministry said that China isn't afraid of a trade war after U.S. economic advisor Kudlow blamed Chinese President Xi Jinping for stalled trade talks, while the EU was said to prepare a new list of American goods to hit with new tariffs, which shows the global trade spat may be escalating. A sell-off in metals is undercutting miners and metal producing stocks with Aug COMEX gold (GCQ18 -0.94%) down -1.01% and Sep COMEX copper (HGU18 -2.68%) down -2.92%, both at 1-year lows. Asian stocks settled mostly lower: Japan -0.13%, Hong Kong -0.38%, China -0.53%, Taiwan -0.07%, Australia +0.28%, Singapore +1.14%, South Korea -0.19%, India -0.06%. China's Shanghai Composite fell to a 1-week low as the yuan tumbled to a 1-year low against the dollar on signs the PBOC is comfortable with the yuan's depreciation. Japanese stocks closed lower on signs that trade tensions may be starting to undercut global trade after Jun trade data showed Japanese exports and imports both rose less than expected.
The dollar index (DXY00 +0.44%) is up +0.49% at a 3-week high after the Fed's Beige Book, released Wednesday afternoon, showed that the U.S. economy was still expanding. EUR/USD (^EURUSD -0.36%) is down -0.40% at a 2-1/2 week low. USD/JPY (^USDJPY +0.13%)is up +0.16%. GBP/USD (^GBPUSD -0.58%) is down -0.70% at a 10-1/4 month low after an unexpected decline in UK Jun retail sales reduced the prospects of a BOE rate hike.
Sep 10-year T-note prices (ZNU18 -0-035) are down -5 ticks at a 3-week low on the prospects for further Fed rate hikes after Wednesday's upbeat Fed Beige Book.
UK Jun retail sales ex auto fuel unexpectedly fell -0.6% m/m, weaker than expectations of +0.1% m/m. Jun retail sales including auto fuel fell -0.5% m/m, weaker than expectations of +0.2% m/m.
The Japan Jun trade balance was in surplus by +721.4 billion yen, wider than expectations of +531.2 billion yen. Jun exports rose +5.7% y/y, weaker than expectations of +7.0% y/y. Jun imports rose +2.5% y/y, weaker than expectations of +5.3% y/y.
**U.S. Stock Preview**
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +6,000 to 220,000, previous -18,000 to 214,000) and continuing claims (expected -10,000 to 1.729 million, previous -3,000 to 1.739 million), (2) Jul Philadelphia Fed business outlook survey (expected +1.6 to 21.5, Jun -14.5 to 19.9), (3) USDA weekly Export Sales, (4) Jun leading indicators (expected +0.4%, May +0.2%), (5) Treasury auctions $13 billion of 10-year TIPS.
Notable S&P 500 earnings reports today include: Microsoft (consensus $1.08), Capital One (2.62), Cintas (1.67), Union Pacific (1.95), Bank of NY Mellon (1.02), Fifth Third Bancorp (0.57), KeyCorp (0.42), Nucor (2.09), Genuine Parts (1.58), Danaher (1.09), BB&T (1.01), Travelers (2.41).
U.S. IPO's scheduled to price today: Replimune Group (REPL).
Equity conferences during the remainder of this week: none.
**Overnight U.S. Stock Movers**
eBay (EBAY +0.37%) is down more than 6% in pre-market trading after it cut its full-year net revenue estimate to $10.75 billion to $10.85 billion from a prior view of $10.9 billion to $11.1 billion, weaker than consensus of $10.95 billion.
Clorox (CLX -4.07%) was rated a new 'Sell' at UBS with a price target of $110.
Goldman Sachs (GS +0.10%) was upgraded to 'Strong Buy' from 'Market Outperform' at Vining Sparks with a price target of $285.
International Business Machines (IBM +0.72%) is up 3% in pre-market trading after it reported Q2 adjusted EPS of $3.08, higher than consensus of $3.04.
American Express (AXP +1.81%) fell 3% in after-hours trading after it reported Q2 revenue of $10.00 billion, below consensus of $10.07 billion and said Q2 consolidated expenses rose 7% y/y to $7.1 billion.
PTC (PTC -0.39%) dropped 4% in after-hours trading after it forecast Q4 revenue of $318 million to $323 million, well below consensus of $327.3 million.
Alcoa (AA -0.12%) fell 2% in after-hours trading after it cut its full-year adjusted Ebitda estimate to $3.0 billion-$3.2 billion from a prior view of $3.5 billion-$3.7 billion, citing tariffs that are causing "significant" headwind to earnings.
Century Aluminum (CENX +0.88%) slid nearly 3% in after-hours trading on negative carry-over from the action by Alcoa to cut its full-year earnings estimate.
Lions Gate Entertainment (@symbolPercentChange(LGF/B)) rose 2% in after-hours trading after it was upgraded to a 'Buy' from 'Hold' at SunTrust Robinson Humphrey with a price target of $27.
Resources Connection (RECN +0.29%) fell nearly 4% in after-hours trading after it reported Q4 EPS of 12 cents, well below consensus of 28 cents.
Noodles & Co (NDLS -2.07%) rallied more than 5% in after-hours trading after it reported Q2 revenue of $117.4 million, better than consensus of $114.3 million, and the raised its full-year revenue forecast to $450 million to $455 million, the midpoint above consensus of $451 million.
Datawatch (DWCH -3.00%) jumped 15% in after-hours trading after it reported Q3 revenue of $12.9 million, better than consensus of $11.8 million.
Sportsman's Warehouse Holdings (SPWH -2.97%) lost 2% in after-hours trading after holders offered 2.8 million shares of the company's stock via D.A. Davidson.
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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