**Overnight Markets and News**
Sep E-mini S&Ps (ESU18 +0.20%) this morning are up +0.22% at a 5-3/4 month high and European stocks are up +0.81% at a 5-week high. Stronger-than-expected Q2 earnings results from Alphabet is pushing the stock up 4.5% in pre-market trading to lead the overall market higher. An unexpected increase in Eurozone manufacturing activity is also giving a boost to European stocks after the Eurozone Jul Markit manufacturing PMI unexpectedly rose +0.2 to 55.1. Asian stocks settled mostly higher: Japan +0.51%, Hong Kong +1.44%, China +1.61%, Taiwan +0.44%, Australia +0.61%, Singapore -0.03%, South Korea +0.32%, India +0.29%. China's Shanghai Composite rose to a 1-month high and boosted Asian equity markets after China's State Council announced a package of policies to boost domestic demand. The State Council issued a tax cut for research spending and announced that special bonds will be issued for infrastructure investment. The yuan tumbled to a new 1-year low against the dollar on signs the PBOC is stepping up efforts to support bank lending. The PBOC offered 502 billion yuan ($74 billion) of Medium-Term Lending Facility (MLF) credit with 1-year maturity to major banks in the open market, the most in such an operation since the MLF was introduced in 2014.
The dollar index (DXY00 -0.17%) is down -0.21%. EUR/USD (^EURUSD +0.14%) is up +0.16%. USD/JPY (^USDJPY -0.25%) is down -0.27%.
Sep 10-year T-note prices (ZNU18 +0-040) are up +3.5 ticks.
The Eurozone Jul Markit manufacturing PMI unexpectedly rose +0.2 to 55.1, stronger than expectations of -0.2 to 54.7.
The Eurozone Jul Markit composite PMI fell -0.6 to 54.3, weaker than expectations of -0.1 to 54.8.
The German Jul Markit/BME manufacturing PMI unexpectedly rose +1.4 to 57.3, stronger than expectations of -0.4 to 55.5.
The UK Jul CBI trends total orders fell -2 to 11, stronger than expectations of -5 to 8.
The Japan Jul Nikkei manufacturing PMI fell -1.4 to a 1-1/2 year low of 51.6.
**U.S. Stock Preview**
Key U.S. news today includes: (1) May FHFA house price index (expected +0.4% m/m, Apr +0.1% m/m), (2) Jul Markit manufacturing PMI (expected -0.3 to 55.1, Jun -1.0 to 55.4) and Jul Markit services PMI (expected unch at 56.5, Jun -0.3 to 56.5), (3) Jul Richmond Fed manufacturing survey (expected -2 to 18, Jun +4 to 20), (4) Treasury auctions $35 billion 2-year T-notes.
Notable S&P 500 earnings reports today include: AT&T (consensus $0.87), Harley-Davidson (1.41), Biogen (5.19), Eli Lilly (1.30), Lockheed Martin (3.92), Kimberly-Clark (1.57), Verizon (1.14), Texas Instruments (1.30), Robert Half (0.85).
U.S. IPO's scheduled to price today: Bloom Energy (BE), Aquestive Therapeutics (AQST).
Equity conferences during the remainder of this week: Google Cloud Next 18 on Tue-Thu
**Overnight U.S. Stock Movers**
Alphabet (GOOGL +1.10%) climbed more than 4% in pre-market trading after it reported Q2 revenue ex-TAC of $26.24 billion, higher than consensus of $25.55 billion.
Mosaic (MOS +0.21%) was upgraded to 'Buy' from 'Underperform' at Bank of America/Merrill Lynch with a price target of $35.
Whirlpool (WHR -0.72%) tumbled nearly 9% in after-hours trading after it reported Q2 net sales of $5.14 billion, less than expectations of $5.29 billion, and then forecast full-year ongoing EPS of $14.20 to $14.80, weaker than consensus of $15.62.
Bluebird Bio (BLUE -1.72%) fell more than 3% in after-hours trading after it announced that it had commenced an underwritten public offering of $400 million in shares of its common stock.
Anadarko (APC +0.16%) was rated a new 'Buy' at Mizuho Securities USA with a price target of $102.
Kaiser Aluminum (KALU +0.99%) reported Q2 adjusted EPS of $1.68, better than consensus of $1.63.
Moelis & Co. (@symbolPercentChange(MC reported Q2 revenue of $220.4 million, higher than consensus of $183.7 million.
Reata Pharmaceuticals (RETA +64.98%) slipped 2% in after-hours trading after it announced its intention to sell 3.0 million shares of its Class A common stock in an underwritten public offering.
TD Ameritrade Holding (AMTD +2.84%) gained 1% in after-hours trading after it reported Q3 revenue of $1.38 billion, better than consensus of $1.35 billion.
Noble Energy (NBL -0.29%) was rated a new 'Buy' at Mizuho Securities USA with a price target of $51.
Zions Bancorporation (ZION +1.49%) fell more than 3% in after-hours trading after it reported Q2 EPS of 89 cents, weaker than consensus of 92 cents.
Merit Medical Systems (MMSI +0.72%) gained more than 1% in after-hours trading after it reported Q2 revenue of $224.8 million, well above consensus of $214.7 million.
Brown & Brown (BRO -0.24%) reported Q2 revenue of $473.1 million, above consensus of $471.1 million.
Redwood Trust (RWT -0.81%) dropped 3% in after-hours trading after it announced its intends to sell 6.25million shares of its common stock in an underwritten public offering.
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 +0.20%) this morning are up +0.22% at a 5-3/4 month high and European stocks are up +0.81% at a 5-week high. Stronger-than-expected Q2 earnings results from Alphabet is pushing the stock up 4.5% in pre-market trading to lead the overall market higher. An unexpected increase in Eurozone manufacturing activity is also giving a boost to European stocks after the Eurozone Jul Markit manufacturing PMI unexpectedly rose +0.2 to 55.1. Asian stocks settled mostly higher: Japan +0.51%, Hong Kong +1.44%, China +1.61%, Taiwan +0.44%, Australia +0.61%, Singapore -0.03%, South Korea +0.32%, India +0.29%. China's Shanghai Composite rose to a 1-month high and boosted Asian equity markets after China's State Council announced a package of policies to boost domestic demand. The State Council issued a tax cut for research spending and announced that special bonds will be issued for infrastructure investment. The yuan tumbled to a new 1-year low against the dollar on signs the PBOC is stepping up efforts to support bank lending. The PBOC offered 502 billion yuan ($74 billion) of Medium-Term Lending Facility (MLF) credit with 1-year maturity to major banks in the open market, the most in such an operation since the MLF was introduced in 2014.
The dollar index (DXY00 -0.17%) is down -0.21%. EUR/USD (^EURUSD +0.14%) is up +0.16%. USD/JPY (^USDJPY -0.25%) is down -0.27%.
Sep 10-year T-note prices (ZNU18 +0-040) are up +3.5 ticks.
The Eurozone Jul Markit manufacturing PMI unexpectedly rose +0.2 to 55.1, stronger than expectations of -0.2 to 54.7.
The Eurozone Jul Markit composite PMI fell -0.6 to 54.3, weaker than expectations of -0.1 to 54.8.
The German Jul Markit/BME manufacturing PMI unexpectedly rose +1.4 to 57.3, stronger than expectations of -0.4 to 55.5.
The UK Jul CBI trends total orders fell -2 to 11, stronger than expectations of -5 to 8.
The Japan Jul Nikkei manufacturing PMI fell -1.4 to a 1-1/2 year low of 51.6.
**U.S. Stock Preview**
Key U.S. news today includes: (1) May FHFA house price index (expected +0.4% m/m, Apr +0.1% m/m), (2) Jul Markit manufacturing PMI (expected -0.3 to 55.1, Jun -1.0 to 55.4) and Jul Markit services PMI (expected unch at 56.5, Jun -0.3 to 56.5), (3) Jul Richmond Fed manufacturing survey (expected -2 to 18, Jun +4 to 20), (4) Treasury auctions $35 billion 2-year T-notes.
Notable S&P 500 earnings reports today include: AT&T (consensus $0.87), Harley-Davidson (1.41), Biogen (5.19), Eli Lilly (1.30), Lockheed Martin (3.92), Kimberly-Clark (1.57), Verizon (1.14), Texas Instruments (1.30), Robert Half (0.85).
U.S. IPO's scheduled to price today: Bloom Energy (BE), Aquestive Therapeutics (AQST).
Equity conferences during the remainder of this week: Google Cloud Next 18 on Tue-Thu
**Overnight U.S. Stock Movers**
Alphabet (GOOGL +1.10%) climbed more than 4% in pre-market trading after it reported Q2 revenue ex-TAC of $26.24 billion, higher than consensus of $25.55 billion.
Mosaic (MOS +0.21%) was upgraded to 'Buy' from 'Underperform' at Bank of America/Merrill Lynch with a price target of $35.
Whirlpool (WHR -0.72%) tumbled nearly 9% in after-hours trading after it reported Q2 net sales of $5.14 billion, less than expectations of $5.29 billion, and then forecast full-year ongoing EPS of $14.20 to $14.80, weaker than consensus of $15.62.
Bluebird Bio (BLUE -1.72%) fell more than 3% in after-hours trading after it announced that it had commenced an underwritten public offering of $400 million in shares of its common stock.
Anadarko (APC +0.16%) was rated a new 'Buy' at Mizuho Securities USA with a price target of $102.
Kaiser Aluminum (KALU +0.99%) reported Q2 adjusted EPS of $1.68, better than consensus of $1.63.
Moelis & Co. (@symbolPercentChange(MC reported Q2 revenue of $220.4 million, higher than consensus of $183.7 million.
Reata Pharmaceuticals (RETA +64.98%) slipped 2% in after-hours trading after it announced its intention to sell 3.0 million shares of its Class A common stock in an underwritten public offering.
TD Ameritrade Holding (AMTD +2.84%) gained 1% in after-hours trading after it reported Q3 revenue of $1.38 billion, better than consensus of $1.35 billion.
Noble Energy (NBL -0.29%) was rated a new 'Buy' at Mizuho Securities USA with a price target of $51.
Zions Bancorporation (ZION +1.49%) fell more than 3% in after-hours trading after it reported Q2 EPS of 89 cents, weaker than consensus of 92 cents.
Merit Medical Systems (MMSI +0.72%) gained more than 1% in after-hours trading after it reported Q2 revenue of $224.8 million, well above consensus of $214.7 million.
Brown & Brown (BRO -0.24%) reported Q2 revenue of $473.1 million, above consensus of $471.1 million.
Redwood Trust (RWT -0.81%) dropped 3% in after-hours trading after it announced its intends to sell 6.25million shares of its common stock in an underwritten public offering.
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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