08/31/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep S&P 500 E-minis (ESU18 -0.21%) this morning are slighter lower on trade woes.  The market is waiting to see whether Canada will agree to a revised NAFTA deal by today's U.S.-imposed deadline.  President Trump on Thursday said, "Canada's going to make a deal at some point.  It may be by Friday or it may be within a period of time, but ultimately they have no choice.  I think we're close to a deal." 

*On trade, the markets are also concerned about yesterday's reports that President Trump may move ahead with his plan for tariffs on another $200 billion of Chinese goods late next week when the public comment period ends on Thursday (Sep 6).  Europe became a new source of concern on trade after President Trump seemed to reject Europe's reported offer to cut tariffs to zero on industrial products including autos.  President Trump said in a Bloomberg interview on Thursday that Europe is "almost as bad as China, just smaller," suggesting that Mr. Trump may be close to ending his trade truce with Europe and reinstating his threat for 25% tariffs on European autos.  A European automaker stock index is sharply lower by -1.7% this morning.  The Eurostoxx 50 index this morning is down by -0.85%.

*Asian stocks today closed lower nearly across the board on US/Chinese trade tensions:  Nikkei index -0.02%, Hong Kong -0.98%, China Shanghai Composite -0.46%, Taiwan -0.27%, Australia -0.51%, Singapore -0.38%, South Korea +0.68%, India -0.12%, Turkey -0.66%.


*The Eurozone Aug CPI of +2.0% y/y eased from July's +2.1% was slightly weaker than market expectations of +2.1%.  The Aug core CPI of +1.0% y/y eased from July's +1.1% and was weaker than expectations of +1.1%.  The report was dovish for ECB policy and led to some weakness in EUR/USD.

*The Eurozone July unemployment rate of 8.2% was at a 10-year low, illustrating an improved Eurozone labor market.

*The Turkish lira is up +1.2% against the dollar after the Turkish officials raised the tax on dollar deposits, making it less attractive to hold dollars and more attractive to hold lira.



**U.S. Stock Preview**

*Key U.S. news today includes: (1) Aug Chicago PMI (expected -2.5 to 63.0, Jul +1.4 to 65.5), (2) revised-Aug University of Michigan U.S. consumer sentiment index (expected +0.2 to 95.5, prelim-Aug -2.6 to 95.3).

*Notable Russell 2000 earnings reports today include: none.

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

*Equity conferences during the remainder of this week: none.


**Overnight U.S. Stock Movers**

*Ulta Beauty (ULTA +1.11%) dropped 6% in after-hours trading after it reported Q2 comparable sales rose +6.5%, below consensus of +6.9%, and then forecast Q3 EPS of $2.11 to $2.16, weaker than consensus of $2.31.

*Lululemon Athletica (LULU -1.23%) jumped more than 8% in after-hours trading after it reported Q2 adjusted EPS of 71 cents, better than consensus of 49 cents, and then forecast full-year EPS of $3.45 to $3.53,  well above consensus of $3.25.

*Cooper Cos (COO -0.72%) declined nearly 4% in after-hours trading after it reported Q3 adjusted EPS of $3.00, below consensus of $3.07, and then forecast full-year adjusted EPS of $11.55 to $11.65, weaker than consensus of $11.81.

*Nutanix (NTNX -0.51%) fell more than 4% in after-hours trading after it forecast a Q1 adjusted loss per share of -26 cents to -28 cents, wider than consensus of -23 cents.

*Ambarella (AMBA -0.80%) slumped more than 12% in after-hours trading after it forecast Q3 revenue of $55.5 million to $58.5 million, well below consensus of $73.4 million.

*Zuora (ZUO +1.83%) slid 6% in after-hours trading after it forecast a Q3 adjusted loss per share of -13 cents to -14 cents, wider than consensus of -12 cents.

*Yext Inc (YEXT -5.42%) fell 5% in after-hours trading after it reported Q2 gross margins of +74.4%, below consensus of +75.5%.

*American Outdoor Brands (AOBC -3.46%) surged nearly 19% in after-hours trading after it reported Q1 adjusted EPS of 21 cents, well above consensus of 12 cents, and then forecast full-year adjusted EPS of 62 cents to 66 cents, stronger than consensus of 50 cents.

*Spirit Realty Capital (SRC -1.76%) dropped 5% in after-hours trading after it unexpectedly cut its quarterly cash dividend to 12.5 cents per share from 18 cents a share.

*A10 Networks (ATEN +0.43%) climbed 3% in after-hours trading after it reported Q2 revenue of $60.7 million, higher than consensus of $58.9 million.

*MEI Pharma (MEIP +5.65%) tumbled 14% in after-hours trading after it reported a fiscal 2018 loss of -97 cents a share, wider than consensus of -73 cents.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 -0.21%) this morning are slighter lower on trade woes.  Thursday's closes: S&P 500 -0.44%, Dow Jones -0.53%, Nasdaq 100 -0.23%.  The S&P 500 on Thursday closed lower on concern about the escalation of Chinese trade tensions with the U.S. set to impose 25% tariffs on $200 billion of Chinese imports as soon as Sep 6.  There was also negative carry-over from a slide in European stocks after Eurozone Aug economic confidence fell -0.5 to a 1-year low of 111.6.  Stocks were also undercut by the +0.3% increase in U.S. Jul personal income, weaker than expectations of +0.4%.  Energy stocks were supported by the +1.05% rally in crude oil prices to a 1-month high.

*Dec 10-year T-notes are up +4 ticks this morning on Chinese and European trade tensions.  Thursday's closes: TYU8 +6.00, FVU8 +3.75.  Dec 10-year T-notes on Thursday closed higher on carry-over support from a rally in German bunds after Eurozone Aug economic confidence fell to a 1-year low and German Aug CPI rose less than expected.  T-notes were also supported by weakness in stocks, which boosted safe-haven demand for T-notes.

*The dollar index this morning is slightly lower by -0.05%.  EUR/USD is down -0.0010 (-0.09%) on today's weak Eurozone CPI report.  USD/JPY is down -0.17% as the yen is seeing some safe-haven demand on revived trade tensions.  Thursday's closes: Dollar Index +0.123 (+0.13%), EUR/USD -0.0036 (-0.31%), USD/JPY -0.70 (-0.63%).  The dollar index on Thursday closed higher on the as-expected +0.4% increase in U.S. Jul personal spending, which was hawkish for Fed policy.  The dollar was also supported by weakness in EUR/USD on news that the Eurozone Aug economic confidence index fell -0.5 to a 1-year low of 111.6 and that the German Aug CPI (EU harmonized) rose +1.9% y/y, weaker than expectations of +2.1% y/y.

*Metals prices are mixed with Dec gold up +7.7 (+0.64%), Dec silver up +0.121 (+0.83%), and Dec copper down -0.009 (-0.33%).  Precious metals are seeing support from the slightly lower dollar, while copper is lower on trade woes.  Thursday's closes: Dec gold -6.5 (-0.54%), Dec silver -0.216 (-1.46%), Dec copper -0.0190 (-0.69%).  Metals on Thursday closed lower with Dec silver at a 2-week low.  Metals prices were undercut by a stronger dollar and by weakness in the yuan which fell to a 4-session low against the dollar on U.S./China trade tensions and concern that industrial metals demand will suffer from reduced trade.

*Oct WTI crude oil prices this morning (CLV18 -0.34%) are down -0.46 (-0.65%) and Oct gasoline (RBV18 -0.34%) is down -0.0102 (-0.51%).    Thursday's closes: Oct crude oil +0.74 (+1.05%), Oct gasoline +0.92 (+0.46%).  Oct crude oil and gasoline on Thursday rose to 1-month highs and closed higher.  Crude oil prices were boosted by carry-over support from Wednesday's EIA data that showed a -2.57 million bbl decline in EIA crude inventories (vs expectations of -1.5 million bbl) and the -1.55 million bbl drop in EIA gasoline supplies (vs expectations of unchanged).  Crude oil prices were also undercut by increased geopolitical risks on bellicose comments from Iran which said it will block Middle East oil exports from going through the Strait of Hormuz if it is not able to export its own crude.




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"!!

08/30/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 -0.17%) this morning are down -0.17% and European stocks are down -0.48%.  Trade war concerns weighed on U.S. equity markets after President Trump accused China of undermining U.S. efforts to get North Korea to give up its nuclear weapons, which may further exacerbate trade tensions with China.  The U.S. has imposed $50 billion of tariffs on Chinese goods so far, with another $200 billion of additional tariffs ready to be imposed on Chinese imports next month.  China has responded with equal tariffs and pledged further measures.  European stocks fell back on a slump in confidence after the Eurozone Aug economic confidence fell more than expected to a 1-year low.  On the positive side, energy stocks are higher with Oct WTI crude oil (CLV18 +0.55%) up +0.60%^ at a 3-week high.  Also, Politico reported that the EU is willing to scrap tariffs on all industrial products, including automobiles, in its trade talks with the U.S.  Asian stocks settled mostly lower: Japan +0.09%, Hong Kong -0.89%, China -1.14%, Taiwan -0.05%, Australia -0.01%, Singapore -0.56%, South Korea unch, India -0.08%.  Chinese stocks retreated on ramped up U.S. trade tensions.  China's Ministry of Commerce urged the U.S. to back away from imposing new tariffs on $200 billion of Chinese goods, which the U.S. said may happen on Sep 6.  Japan's Nikkei Stock Index climbed to a 3-1/4 month high on the heels of a rally in the S&P 500 to new record high Wednesday.

*The dollar index (DXY00 +0.03%) is down -0.03%.  EUR/USD (^EURUSD -0.15%) is down -0.10%.  USD/JPY (^USDJPY -0.18%) is down -0.10%. 

*Sep 10-year T-note prices (ZNU18 +0-010) are little changed, up +0.5 of a tick.

*Eurozone Aug economic confidence fell -0.5 to a 1-year low of 111.6, weaker than expectations of -0.2 to 111.9.  The Aug business climate indicator fell -0.08 to a 1-year low of 1.22, weaker than expectations of -0.03 to 1.26.

*The German Aug unemployment change fell -8,000 to 2.33 million, right on expectations.  The Aug unemployment rate remained unch at a record low of 5.2%, also right on expectations.

*Japan Jul retail sales rose +0.1% m/m, weaker than expectations of +0.2% m/m.



**U.S. Stock Preview**

*Key U.S. news today includes: (1) weekly initial unemployment claims (expected +3,000 to 213,000, previous -2,000 to 210,000) and continuing claims (expected +3,000 to 1.730 million, previous -2,000 to 1.727 million), (2) Jul personal spending (expected +0.4%, Jun +0.4%) and Jul personal income (expected +0.4%, Jun +0.4%), (3) Jul PCE deflator (expected +0.1% m/m and +2.3% y/y, Jun +0.1% m/m and +2.2% y/y) and Jul core PCE deflator (expected +0.2% m/m and +2.0% y/y, Jun +0.1% m/m and +1.9% y/y), (4) USDA weekly Export Sales.

*Notable Russell 2000 earnings reports today include: Kroger (consensus $0.38), Campbell Soup (0.25), Dollar Tree (1.16), Dollar General (1.49), Lululemon Athletica (0.49), Cooper Cos (3.07).

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

*Equity conferences during the remainder of this week: none.


**Overnight U.S. Stock Movers**

*Campbell Soup (CPB +0.40%) fell 5% in pre-market trading after it reported Q4 net sales of $2.22 billion, weaker than consensus of $2.24 billion, and after it forecast full-year adjusted EPS of $2.45 to $2.53, well below consensus of $2.67.

*Genesco (GCO +1.53%) was upgraded to 'Buy' from 'Hold' at Pivotal Research Group LLC with a price target of $54.

*PayPal (PYPL +2.22%) was rated a new 'Buy' at Berenberg with a price target of $104.

*Salesforce.com (CRM +1.18%) slid almost 2% in after-hours trading after it reported Q2 billings growth of +24.4%, weaker than consensus of +25.3%.

*Textron (TXT +0.27%) was rated a new 'Overweight' at Alembic Global with a price target of $82.

*PVH Corp (PVH +0.47%) lost more than 1% in after-hours trading after it forecast Q3 adjusted EPS of $3.10 to $3.13, the midpoint below consensus of $3.13.

*Grief (GEF +1.25%) may move higher initially this morning after it reported Q3 adjusted EPS of $1.20, higher than consensus of $1.08, and then forecast full-year adjusted EPS of $3.53 to $3.69, the midpoint above consensus of $3.57.

*Semtech (SMTC unch) rose 6% in after-hours trading after it reported Q2 adjusted EPS of 55 cents, better than consensus of 54 cents, and then forecast Q3 adjusted EPS of 58 cents to 64 cents, the midpoint above consensus of 60 cents. 

*Guess? (GES -0.99%) climbed more than 6% in after-hours trading after it reported Q2 adjusted EPS of 36 cents, higher than consensus of 32 cents, and then forecast full-year EPS of 94 cents to $1.03, the midpoint above consensus of 98 cents.

*At Home Group (HOME +0.70%) lost 1% in after-hours trading after it reported Q2 comparable sales were up +2.8%, weaker than consensus of +3.1%.

*Tilly's (TLYS +1.18%) jumped almost 10% in after-hours trading after it reported Q2 adjusted EPS of 29 cents, better than consensus of 26 cents.

*Net 1 UEPS Technologies (UEPS -1.46%) tumbled nearly 13% in after-hours trading after it reported Q4 preliminary fundamental EPS of 22 cents, weaker than consensus of 27 cents, and then forecast fiscal 2019 fundamental EPS of at least $1.05, below consensus of $1.35.



**Market Comments**

*Sep S&P 500 E-minis (ESU18 -0.17%) this morning are down -5.00  points (-0.17%).   Wednesday's closes: S&P 500 +0.57%, Dow Jones +0.23%, Nasdaq 100 +1.19%.  The S&P 500 on Wednesday rallied to a new record high and closed higher on the unexpected upward revision to U.S. Q2 GDP to +4.2% from +4.1%, stronger than expectations of -0.1 to +4.0% and the fastest pace of growth in 3-3/4 years.  There was also strength in energy producers as crude oil prices rose +1.43% to a 3-week high.  Technology stocks also rallied after the Nasdaq 100 jumped to a fresh record high.

*Sep 10-year T-notes (ZNU18 +0-010) this morning are up +0.5 of a tick.  Wednesday's closes: TYU8 unch, FVU8 -2.00.  Sep 10-year T-notes on Wednesday recovered from a 2-week low and closed little changed.  T-notes were supported by the unexpected decline in U.S. Jul pending home sales and by strong demand for the Treasury's $31 billion 7-year T-note auction that had a bid-to-cover ratio of 2.65, well above the 12-auction average of 2.50 and the highest in 7 months.  T-note prices were undercut by reduced safe-haven demand for T-notes after the S&P 500 rallied to a new record high and by increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 2-1/2 week high.

*The dollar index (DXY00 +0.03%) this morning is down -0.032 (-0.03%).  EUR/USD (^EURUSD -0.15%) is down -0.0012 (-0.10%).  USD/JPY (^USDJPY -0.18%) is down -0.11 (-0.10%).  Wednesday's closes: Dollar Index -0.181 (-0.19%), EUR/USD +0.0012 (+0.10%), USD/JPY +0.49 (+0.44%).  The dollar index on Wednesday closed lower on strength in GBP/USD which rallied to a 3-week high on optimism for a Brexit deal after the EU's chief negotiator said it was prepared to offer Britain an unprecedented partnership.  The dollar was also undercut by the unexpected decline in U.S. Jul pending home sales.

*Metals this morning are lower with Dec gold (GCZ18 -0.12%) -1.2 (-0.10%), Dec silver (SIZ18 -0.78%) -0.100 (-0.68%) and Dec copper (HGZ18 -0.88%) -0.022 (-0.80%).  Wednesday's closes: Dec gold -2.9 (-0.24%), Dec silver -0.089 (-0.60%), Dec copper -0.0220 (-0.80%).  Metals on Wednesday closed lower on the rally in the S&P 500 to a new record high, which reduces safe-haven demand for precious metals, and by fund selling of gold as long gold positions in ETFs fell to a 9-1/2 month low.  Metals prices also fell on the unexpected decline in U.S. Jul pending home sales, which is negative for copper demand.

*Oct WTI crude oil (CLV18 +0.55%) this morning is up +42 cents (+0.60%) at a fresh 3-week high.  Oct gasoline (RBV18 +0.48%) is +1.14 (+0.57%).  Wednesday's closes: Oct crude oil +0.98 (+1.43%), Oct gasoline +2.47 (+1.25%).  Oct crude oil and gasoline on Wednesday closed higher with Oct crude at a 3-week high.  Crude oil prices were supported by a weaker dollar.  Crude oil prices were also supported by the weekly EIA report that showed a -2.57 million bbl decline in EIA crude inventories (vs expectations of -1.5 million bbl) and the -1.55 million bbl drop in EIA gasoline supplies (vs expectations of unchanged).  In addition, the EIA showed very strong gasoline demand with U.S. gasoline demand in the week of Aug 24 rising to a record 9.9 million bpd.




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"!!

08/29/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 +0.04%) this morning are up +0.01% in quiet trade and rose on optimism that a U.S./Canada trade deal can be reached after the Globe reported that Canada was said to be ready to make concessions on dairy for compromises in other areas.  European stocks are down -0.12% and EUR/USD weakened after La Stampa reported that the Italian government was seen asking for a new round of bond purchases from the ECB to help the Italian government avoid a downgrade of its credit rating.  Also, German Sep GfK consumer confidence unexpectedly fell to a 15-month low.  The Turkish lira fell to a 2-week low against the dollar after Turkey's central bank reintroduced borrowing limits for banks' overnight transactions, which will tighten liquidity.  Asian stocks settled mixed: Japan +0.15%, Hong Kong +0.23%, China -0.31%, Taiwan +1.00%, Australia +0.75%, Singapore -0.11%, South Korea +0.28%, India -0.45%.

*The dollar index (DXY00 +0.18%) is up +0.13%.  EUR/USD (^EURUSD -0.32%) is down -0.32%.  USD/JPY (^USDJPY +0.03%) is up +0.01%. 

*Sep 10-year T-note prices (ZNU18 +0-020) are up +3 ticks.

*The German Sep GfK consumer confidence unexpectedly fell -0.1 to a 15-month low of 10.5, weaker than expectations of no change at 10.6.

*Japan Aug consumer confidence fell -0.2 to a 1-year low of 43.3, right on expectations.


**U.S. Stock Preview**

*Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +4.2% to 349.9 with purchase sub-index +2.9% to 232.1 and refi sub-index +6.0% to 982.7), (2) revised Q2 GDP (expected +4.0% q/q annualized vs previous +4.1%), (3) Jul pending home sales (expected +0.3% m/m and -2.5% y/y, Jun +0.9% m/m and -4.0% y/y), (4) EIA weekly Petroleum Status Report, and (5) Treasury auctions $17 billion of 2-year floating-rate notes and $31 billion of 7-year T-notes.

*Notable Russell 2000 earnings reports today include: salesforce.com (consensus $0.47), Brown-Forman (0.39), Eaton Vance (0.81), Dick's Sporting Goods (1.06).

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

*Equity conferences during the remainder of this week: OPEX Summer Business Transformation Leaders Summit on Mon-Wed, Seaport Global Securities Energy & Industrials Conference on Tue-Wed, Jefferies Semiconductor/Hardware Summit on Wed, Simmons European Energy Conference on Wed.


**Overnight U.S. Stock Movers**

*Royal Caribbean Cruises Ltd (RCL +0.14%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank with a price target of $146.

*HP Enterprise (HPE +1.76%) rose nearly 3% in after-hours trading after it reported Q3 adjusted EPS of 44 cents, above consensus of 37 cents, and then raised guidance on full-year adjusted EPS to $1.50 to $1.55 from a prior view of $1.40 to $1.50.

*Instructure (INST +1.27%) was rated a new 'Buy' at D.A. Davidson & Co with a price target of $47.

*Roku (ROKU -1.73%) lost more than 1% in after-hours trading after The Information reported that Amazon is planning to start a free video service for the 48 million users of Fire TV streaming video service.

*Weight Watchers International (WTW +0.37%) was rated a new 'Outperform' at Oppenheimer with a price target of $98.

*Tilray (TLRY -3.63%) jumped 11% in after-hours trading after it reported Q2 revenue of $9.7 million, higher than consensus of $9.0 million.

*Shoe Carnival (SCVL +5.91%) rallied 7% in after-hours trading after it reported Q2 EPS of 76 cents, higher than consensus of 56 cents, and then forecast full-year EPS of $2.07 to $2.15 better than consensus of $2.05.

*Tailored Brands (TLRD +3.84%) dropped 6% in after-hours trading after President and COO Bruce Thorn resigned and CEO Doug Ewert said he will retire at the end of September.

*H&R Block (HRB -1.84%) rose more than 3% in after-hours trading after it reported Q1 revenue of $145.2 million, stronger than consensus of $137.7 million.

*Box Inc (BOX +2.35%) fell more than 3% in after-hours trading after it forecast Q3 revenue of $154 million to $155 million, the midpoint below consensus of $155 million.

*NCI Building Systems (NCS +0.32%) rallied 5% in after-hours trading after it reported Q3 adjusted Ebitda of $63.3 million, higher than consensus of $60.5 million, and then forecast Q4 adjusted Ebitda of $60 million to $70 million, the midpoint above consensus of $64.4 million.

*Centennial Resource Development (CDEV -0.63%) was rated a new 'Overweight' at Barclays with a price target of $24.

*Aviat Networks (AVNW +1.95%) rose 5% in after-hours trading after it reported Q4 revenue of $62.5 million versus $56.4 million y/y, and then forecast 2019 revenue of $255 million to $265 million.

*Prospect Capital (PSEC -0.56%) gained 2% in after-hours trading after it reported Q4 net investment of 22 cents, above consensus of 20 cents.

*Affimed NV (AFMD +246.88%) climbed more than 5% in after-hours trading after surging more than 240% in Tuesday's session after the company secured an initial $96 million payment in a pact to develop cancer therapies with Roche.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 +0.04%) this morning are u +0.25 points (+0.01%).   Tuesday's closes: S&P 500 +0.03%, Dow Jones +0.06%, Nasdaq 100 +0.15%.  The S&P 500 on Tuesday climbed to a fresh all-time high and closed higher on hopes that Canada will soon reach a trade deal with the U.S. after Mexico and the U.S. agreed to a new trade deal on Monday.  Stocks were also supported by the unexpected +5.5 point increase in the Conference Board's U.S. Aug consumer confidence index to a 17-3/4 year high of 133.4, stronger than expectations of -0.8 to 126.6.  Technology stocks again showed strength as the Nasdaq 100 rose to a new record high.

*Sep 10-year T-notes (ZNU18 +0-020) this morning are up +3 ticks.  Tuesday's closes: TYU8 -8.00, FVU8 -4.25.  Sep 10-year T-notes on Tuesday dropped to a 1-1/2 week low and closed lower on reduced safe-haven demand for T-notes after the S&P 500 rallied to a new record high.  T-notes were also undercut by the unexpected increase in U.S. Aug consumer confidence to a 17-3/4 year high, which is hawkish for Fed policy.  T-notes also took a hit on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 2-week high.

*The dollar index (DXY00 +0.18%) this morning is up +0.125 (+0.13%).  EUR/USD (^EURUSD -0.32%) is down -0.0038 (-0.32%).  USD/JPY (^USDJPY +0.03%) is up +0.01 (+0.01%).  Dollar Index -0.059 (-0.06%), EUR/USD +0.0017 (+0.15%), USD/JPY +0.11 (+0.10%).  The dollar index on Tuesday fell to a 4-week low and closed lower on strength in the Canadian dollar which rose to a 2-1/2 month high against the U.S. dollar on speculation Canada will soon reach a trade deal with the U.S. after the U.S. reached a deal with Mexico on Monday.  The dollar was also undercut by a rally in EUR/USD to a 4-week high on reduced Italian political risks after Italian Finance Minister Tria said Italy is not planning to breach the EU's budget deficit limit.

*Metals this morning are weaker with Dec gold (GCZ18 -0.41%) -5.4 (0.44%), Sep silver (SIU18 -1.01%) -0.164 (-1.11%) and Sep copper (HGU18 -1.13%) -0.029 (-1.04%).  Tuesday's closes: Dec gold -1.6 (-0.13%), Sep silver -0.085 (-0.57%), Sep copper +0.0275 (+1.02%).  Metals on Tuesday settled mixed with Sep copper at a 2-week high.  Metals prices were boosted by the sell-off in the dollar index to a 4-week low and by signs of stronger copper demand after LME canceled copper warrants surged +29.050 MT to a 1-year high of 132,200 MT.  Metals prices were undercut by the rally in the S&P 50 to a new record high, which reduces safe-haven demand for precious metals.  Precious metals prices were undercut by the unexpected surge in U.S. Aug consumer confidence to a 17-3/4 year high, which bolsters the case for additional Fed rate hikes.

*Oct WTI crude oil (CLV18 +0.53%) this morning is up +34 cents (+0.50%).  Oct gasoline (RBV18 +0.03%) is -0.07 (-0.04%).  Tuesday's closes: Oct crude oil -0.34 (-0.49%), Oct gasoline -1.16 (-0.58%).  Oct crude oil and gasoline on Tuesday closed lower on the action by oil workers on Total SA's North Sea oil platforms to maintain oil production as the workers union and Total SA agreed to mediation to solve their disputes.  Crude oil prices were also undercut by comments from OPEC President Suhail Al Mazrouei who said increased production can be seen from OPEC over time as some members had a difficult time increasing output in summer due to excessive heat and maintenance.  Oil prices were supported by the fall in the dollar index to a 4-week low and by expectations for Wednesday's weekly EIA crude inventories to fall -1.5 million bbl.




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"!!

TVR [#537] 08-28-2018 END OF DAY REPORT: HACK IS BACK!

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 -

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BULLS make money... BEARS make money.... PIGS get slaughtered!



"TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!

08/28/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 +0.11%) this morning are up +0.09% at a fresh all-time high on optimism the U.S. and Canada could soon resolve their trade differences after Canadian Prime Minister Trudeaus said he discussed trade with President Trump and agreed to continue "productive conversations."  Canada's foreign minister travels to Washington today for trade talks with the U.S.  European stocks are up +0.01% at a 2-week high on strength in mining stocks and raw-material producers as Sep COMEX copper (HGU18 +0.70%) rose +0.78% to a 2-week high on signs of stronger demand after LME canceled copper warrants jumped +29,050 MT to a 1-year high of 132,200 MT.  However, gains in European stocks were limited as a rally in EUR/USD to a 4-week high weighed on European exporters.  Asian stocks settled mostly higher: Japan +0.06%, Hong Kong +0.28%, China -0.10%, Taiwan +0.80%, Australia +0.57%, Singapore +0.68%, South Korea +0.13%, India +0.52%.  Despite a rally in the Chinese yuan to a 3-1/2 week high against the dollar, Chinese stocks gave up an early rally to a 2-weeek high and closed lower on trade concerns after President Trump said "it's just not the tight time" for trade negotiations with China right now.  After mid-level talks in Washington ended last week with no agreement, a person familiar with the situation said Chinese officials had raised the prospect of suspending talks until after U.S. mid-term elections in November.  Japan's Nikkei Stock Index rallied to a 2-1/2 month high on the heels of a rally in U.S. stock indexes to record highs Monday amid reduced trade concerns after the U.S. and Mexico agreed to a new trade deal.

*The dollar index (DXY00 -0.11%) is down -0.11% at a 3-1/2 week low.  EUR/USD (^EURUSD +0.16%) is up +0.16% at a 4-week high.  USD/JPY (^USDJPY +0.03%) is unchanged. 

*Sep 10-year T-note prices (ZNU18 unch) are unchanged.

*France Aug consumer confidence was unch at 97, right on expectations.

*Italy Aug consumer confidence fell -1.0 to 115.2, weaker than expectations of -0.5 to 115.8.

*Eurozone Jul M3 money supply rose +4.0% y/y, weaker than expectations of +4.3% y/y.



**U.S. Stock Preview**

*Key U.S. news today includes: (1) Jul wholesale inventories (expected +0.2% m/m, Jun +0.1% m/m), (2) Jun S&P CoreLogic composite-20 home price index (expected +0.2% m/m and +6.4% y/y, May +0.2% m/m and +6.51% y/y), (3) Conference Board U.S. Aug consumer confidence (expected -0.8 to 126.6, Jul +0.3 to 127.4), (4) Aug Richmond Fed manufacturing survey (expected -3 to 17, Jul -1 to 20), (5) Treasury auctions $37 billion of 5-year T-notes.

*Notable Russell 2000 earnings reports today include: Best Buy (consensus $0.83), Tiffany (1.01), HP Enterprise Co (0.37), H&R BLock (-0.78).

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

*Equity conferences during the remainder of this week: European Society of Cardiology Meeting on Mon-Tue, OPEX Summer Business Transformation Leaders Summit on Mon-Wed, Seaport Global Securities Energy & Industrials Conference on Tue-Wed, Jefferies Semiconductor/Hardware Summit on Wed, Simmons European Energy Conference on Wed.


**Overnight U.S. Stock Movers**

*Xilinx (XLNX +1.97%) was upgraded to 'Outperform' from 'Neutral' at Baird with a price target of $90.

*Estee Lauder (EL +1.96%) was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley with a price target of $160.

*L3 Technologies (LLL +0.26%) was rated a new 'Overweight' at Alembic Global Advisors with a price target of $246.

*Antero Midstream Partners LP (AM -1.36%) was upgraded to 'Buy' from 'Hold' at Stifel with a price target of $35.

*Lockheed Martin (LMT +0.95%) was rated a new 'Overweight' at Alembic Global Advisors with a price target of $408.

*General Dynamics (GD +1.40%) was rated a new 'Overweight' at Alembic Global Advisors with a price target of $252.

*HEICO (HEI +0.42%) rallied more than 5% in after-hours trading after it reported Q3 EPS of 49 cents, better than consensus of 45 cents.

*Phibro Animal Health (PAHC +5.42%) reported Q4 net sales of $211.8 million, above consensus of $208.0 million, and then forecast full-year net sales of $850 million to $875 million, the midpoint higher than consensus of $851 million.

*Brooks Automation (BRKS +2.02%) gained more than 2% in after-hours trading after it announced that it had entered into a definitive agreement to sell its semiconductor cryogenics business to Edwards Vacuum, a unit of Atlas Copco Group, for $675 million in cash.

*Wright Medical Group NV (WMGI -4.22%) slid 4% in after-hours trading after it announced commencement of a registered underwritten public offering of $440 million of its shares of common stock.

*BWX Technologies (BWXT +0.43%) was rated a new 'Overweight' at Alembic Global Advisors with a price target of $73.

*Mitek Systems (MITK -4.49%) fell 4% in after-hours trading after it said current CEO, Jim DeBello, will be transitioning out of his role effective January 1, 2019.

*Lattice Semiconductor (LSCC -0.79%) climbed more than 4% in after-hours trading after it named Jim Anderson, former general manager and senior vice president of Advanced Micro Devices, as president and CEO effective September 4.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 +0.11%) this morning are up +2.50 points (+0.09%) at a new record nearest-futures high.   Monday's closes: S&P 500 +0.77%, Dow Jones +1.01%, Nasdaq 100 +0.98%.  The S&P 500 on Monday climbed to a fresh all-time high and closed higher on reduced global trade tensions after the announcement of a bilateral trade deal between the U.S. and Mexico.  There was also carry-over support from a rally in European stocks on signs of confidence in the Eurozone economic outlook after the German Aug IFO business climate rose +2.1 to a 6-month high of 103.8, the first increase in 9 months.  Technology stocks rallied as the Nasdaq 100 climbed to a new record high.

*Sep 10-year T-notes (ZNU18 unch) this morning are unch.  Monday's closes: TYU8 -5.50, FVU8 -2.75.  Sep 10-year T-notes on Monday closed lower on reduced safe-haven demand for T-notes after the S&P 500 rallied to a new record high.  There were also increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 2-week high.

*The dollar index (DXY00 -0.11%) this morning is down -0.105 (-0.11%) at a 3-1/2 week low.  EUR/USD (^EURUSD +0.16%) is up +0.0019 (+0.16%) at a 4-week high.  USD/JPY (^USDJPY +0.03%) is unch.  Monday's closes: Dollar Index -0.367 (-0.39%), EUR/USD +0.0056 (+0.48%), USD/JPY -0.16 (-0.14%).  The dollar index on Monday fell to a 3-week low and closed lower on strength in the Mexican peso which rallied to a 2-week high against the dollar after the U.S. and Mexico reached a bilateral trade agreement.  There was also strength in EUR/USD which climbed to a 3-week high after the German Aug IFO business confidence rose for the first time in nine months to a 6-month high.

*Metals this morning are higher with Dec gold (GCZ18 +0.21%) +2.8 (+0.23%) at a 2-week high, Sep silver (SIU18 +0.11%) +0.041 (+0.28%) a a 1-1/2 week high and Sep copper (HGU18 +0.70%) +0.021 (+0.78%) at a 2-week high.  Monday's closes: Dec gold +2.7 (+0.22%), Sep silver +0.065 (+0.44%), Sep copper +0.0080 (+0.30%).  Metals on Monday closed higher with Dec gold at a 2-week high, Sep copper at a 1-1/2 week high and Sep silver at a 1-week high.  Metals prices were boosted by the sell-off in the dollar index to a 3-week low and by the announcement of a trade deal between the U.S. and Mexico, which may boost economic growth and demand for industrial metals.

*Oct WTI crude oil (CLV18 +0.07%) this morning is down -2 cents (-0.03%).  Oct gasoline (RBV18 +0.17%) is +0.13 (+0.07%).  Monday's closes: Oct crude oil +0.15 (+0.22%), Oct gasoline +1.14 (+0.58%).  Oct crude oil and gasoline on Monday closed higher with Oct gasoline at a 3-week high.  Crude oil prices were boosted by the slide in the dollar index to a 3-week low and by the rally in the S&P 500 to a record high, which shows confidence in the economic outlook that may lead to stronger energy demand.  Crude oil prices were undercut by news that July OPEC/non-OPEC compliance in crude production cuts fell to 109% from 121% in June.




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"!!

TVR [#536] 08-27-2018 END OF DAY REPORT: STOCK INDEXES NEW ALL TIME HIG...

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/

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BULLS make money... BEARS make money.... PIGS get slaughtered!



"TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!

08/27/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 +0.25%) this morning are up +0.24% at a new all-time nearest-futures high and European stocks are up +0.27% at a 2-week high in thin trading with Britain closed for a bank holiday.  Positive trade news pushed stocks higher on signs that the U.S. and Mexico were close to a nee Nafta deal after President Trump after President Trump tweeted Saturday that the U.S. could have a "big Trade Agreement" with Mexico soon.  European stocks received a boost after German Aug IFO business confidence rose for the first time in nine months to a 6-month high.  Asian stocks settled higher: Japan +0.88%, Hong Kong +2.17%, China +1.89%, Taiwan +0.86%, Australia +0.34%, Singapore +0.39%, South Korea +0.44%, India +1.16%.  Asian stock markets rallied Monday with China's Shanghai Composite at a 2-week high and Japan's Nikkei Stock Index at a 1-1/4 month high as the yuan stabilized after the PBOC signaled Friday that it was acting to support the currency through its daily fixing.  The yuan had tumbled to a 1-1/2 year low against the dollar earlier this month, which had weighed on Chinese stocks on concern the weak yuan would prompt capital outflows out of China.  Asian markets also garnered support on Friday's comments from Fed Chair Powell that the Fed would maintain its gradual pace of interest-rate increases.

*The dollar index (DXY00 unch) is up +0.07%.  EUR/USD (^EURUSD +0.01%) is down -0.03%.  USD/JPY (^USDJPY -0.12%) is down -0.13%. 

*Sep 10-year T-note prices (ZNU18 +0-010) are up +2.5 ticks.

*The German Aug IFO business climate rose +2.1 to a 6-month high of 103.8, stronger than expectations of +0.1 to 101.8 and the first increase in 9 months.

*China Jul industrial profits rose +16.2% y/y, the smallest increase in 4-months.



**U.S. Stock Preview**

*Key U.S. news today includes: (1) Jul Chicago Fed national activity index (expected +0.02 to 0.45, Jun +0.88 to 0.43), (2) Aug Dallas Fed manufacturing activity (expected -2.3 to 30.0, Jul -4.2 to 32.3), (3) USDA weekly grain export inspections, (4) Treasury auctions $36 billion of 2-year T-notes, (5) USDA weekly Crop Progress.

*Notable Russell 2000 earnings reports today include: HEICO Corp (consensus $0.45).

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

*Equity conferences during the remainder of this week: 12th annual Women's Leadership Conference on Mon, European Society of Cardiology Meeting on Mon-Tue, OPEX Summer Business Transformation Leaders Summit on Mon-Wed, Seaport Global Securities Energy & Industrials Conference on Tue-Wed, Jefferies Semiconductor/Hardware Summit on Wed, Simmons European Energy Conference on Wed.


**Overnight U.S. Stock Movers**

*Sonos (SONO -2.98%) was rated a new 'Outperform' at RBC Capital Markets with a price target of $25.

*Pfizer (PFE +0.47%) was downgraded to 'Sell' from 'Buy' at Jyske Bank with a price target of $39.

*Cushman & Wakefield (CWK +0.57%) was rated a new 'Buy' at Goldman Sachs with a price target of $20.

*Hibbett Sports (HIBB -30.20%) was downgraded to 'Hold' from 'Buy' at Canaccord Genuity with a price target of $21.

*Chipotle Mexican Grill (CMG +0.52%) was downgraded to 'Underperform' from 'Neutral' at Wedbush with a price target of $445.

*American Eagle Outfitters (AEO -1.11%) was downgraded to 'Neutral' from 'Outperform' with a price target of $29.

*CIT Group (CIT -0.05%) was downgraded to 'Equal-Weight' from 'Overweight' at Stephens with a price target of $60.

*Tesla (TSLA +0.85%) fell 3% in pre-market trading after CEO Musk said he believes the "better path is for Tesla to remain public."

*Rigel Pharmaceuticals (RIGL +0.36%) was rated a new 'Buy' at Citibank with a price target of $8.50.

*PG&E (PCG -2.62%) gained nearly 1% in after-hours trading after California lawmakers proposed measures to help PG&E and other utilities to deal with liabilities from wildfires including allowing utilities to finance fire costs with bonds.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 +0.25%) this morning are up +7.00 points (+0.24%) at a new record nearest-futures high.   Friday's closes: S&P 500 +0.62%, Dow Jones +0.52%, Nasdaq 100 +0.97%.  The S&P 500 on Friday climbed to a new all-time high and closed higher on upbeat comments from Fed Chair Powell who said  he sees "good reason to expect the strong economy to continue and gradual rate hikes are likely appropriate."  There was also strength in energy stocks as crude oil price jumped +1.31% to a 2-week high.

*Sep 10-year T-notes (ZNU18 +0-010) this morning are up +2.5 ticks.  Friday's closes: TYU8 -2.50, FVU8 -1.75.  Sep 10-year T-notes on Friday closed slightly lower on the the rally in S&P 500 to a new record high, which curbed the safe-haven demand for T-notes, and also on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 1-1/2 week high.  A supportive factor was Fed Chair Powell's comment that he sees no clear sign that inflation is accelerating above the Fed's 2% target and that a gradual pace of Fed rate hikes is still appropriate.

*The dollar index (DXY00 unch) this morning is up +0.071 (+0.07%).  EUR/USD (^EURUSD +0.01%) is down -0.0004 (-0.03%).  USD/JPY (^USDJPY -0.12%) is down -0.15 (-0.13%).  Friday's closes: Dollar Index -0.520 (-0.54%), EUR/USD +0.0082 (+0.71%), USD/JPY -0.05 (-0.04%).  The dollar index on Friday closed lower on comments from Fed Chair Powell that a gradual pace of tightening is  appropriate and that there are no clear signs that inflation is accelerating above the Fed's 2% target.  The dollar was also undercut by strength in the yuan which climbed to a 2-week high against the dollar on signs the PBOC is supporting the yuan when it said that banks have resumed a "counter-cyclical" factor in the fixing of the yuan to counter the bias toward devaluation.

*Metals this morning are weaker with Dec gold (GCZ18 -0.21%) -3.1 (-0.26%), Sep silver (SIU18 -0.30%) -0.054 (-0.37%) and Sep copper (HGU18 +0.09%) -0.001 (-0.04%).  Friday's closes: Dec gold +19.3 (+1.62%), Sep silver +0.252 (+1.73%), Sep copper +0.0360 (+1.73%).  Metals on Friday closed higher with Dec gold and Sep copper at 1-1/2 week highs.  Metals prices were supported by a weaker dollar and dovish comments by Fed Chair Powell who said that gradual rate hikes are appropriate.  Copper was supported by news that weekly Shanghai copper inventories fell by -8,486 MT to an 8-month low of 146,590.

*Oct WTI crude oil (CLV18 -0.26%) this morning is down -31 cents (-0.45%).  Oct gasoline (RBV18 -0.01%) is -0.40 (-0.20%).  Friday's closes: Oct crude oil +0.89 (+1.31%), Oct gasoline +2.02 (+1.03%).  Oct crude oil and gasoline on Friday rallied to 2-week highs and closed higher on a weaker dollar and on concern about tighter global crude supplies after workers at Total's oil platforms in the North Sea said strikes will proceed after labor talks broke down.  Crude oil prices were also supported by the rally in the S&P 500 to a record high, which shows confidence in the economic outlook that may lead to stronger energy demand.




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"!!

08/24/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 +0.22%) this morning are up +0.24% and European stocks are up +0.29% at a 2-week high as the markets await Fed Chair Powell's speech later this morning at the Fed's annual Jackson Hole policy symposium.  Oct WTI crude oil (CLV18 +1.19%) is up +1.31% at a 2-week high, which is pushing energy stocks higher as a weaker dollar and supply concerns boost crude futures.  North Sea oil supplies may be affected by a series of 12-hour strikes by workers on oil platforms operated by Total SA.  Mining and raw-material stocks are high with Sep COMEX copper (HGU18 +0.89%) up +0.77% on signs of tighter copper supplies after weekly Shanghai copper inventories fell -8,486 MT to a 146,590 MT, an 8-month low.  On the negative side, trade tensions may escalate between China and the U.S. after 2-days of talks in Washington between negotiators failed to make progress.  A person familiar with the discussions said no further talks are scheduled and that Chinese officials raised the possibility that no further negotiations could happen until after the U.S. mid-term elections in November.  Asian stocks settled mixed: Japan +0.85%, Hong Kong -0.43%, China +0.18%, Taiwan -0.50%, Australia +0.05%, Singapore -1.14%, South Korea +0.42%, India -0.22%.  Strength in the yuan versus the dollar and a rally in Chinese bank stocks pushed the Shanghai Composite to a 1-week high.  A rally in USD/JPY to a 2-1/2 week high spurred buying of Japanese exporter stocks, which helped lead a rally in the Nikkei Stock Index to a 2-week high.

*The dollar index (DXY00 -0.28%) is down -0.28%.  EUR/USD (^EURUSD +0.39%) is up +0.36%.  USD/JPY (^USDJPY +0.09%) is up % at a 2-1/2 week high after weaker-than-expected Japan Jul national CPI spurred speculation the BOJ may need to maintain its yen-negative QE program. 

*Sep 10-year T-note prices (ZNU18 -0-035) are down -4.5 ticks.

*Japan Jul PPI services rose +1.1% y/y, unch from Jun and weaker than expectations of +1.2% y/y.

*Japan Jul national CPI rose +0.9% y/y, weaker than expectations of +1.0% y/y.  Jul national CPI ex fresh food rose +0.8% y/y, weaker than expectations of +0.8% y/y.  Jul national CPI ex fresh food & energy rose +0.3% y/y, right on expectations.


**U.S. Stock Preview**

*Key U.S. news today includes: (1) Jul durable goods orders (expected -1.0% and +0.5% ex transportation, Jun +0.8% and +0.2% ex transportation), (2) Fed Chair Jerome Powell’s speech titled “Monetary Policy in a Changing Economy” at the Kansas City Fed’s economic symposium in Jackson Hole, WY, (3) USDA Jul Cattle on Feed.

*Notable Russell 2000 earnings reports today include: Foot Locker (consensus $0.70), Ubiquiti Networks (1.06).

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

*Equity conferences during the remainder of this week: NGAUS Conference on Fri.


**Overnight U.S. Stock Movers**

*Netflix (NFLX -1.53%) gained more thn 1% in pre-market trading after it was upgraded to 'Buy' from 'Hold' at Suntrust Robinson Humphrey.

*Hormel Foods (HRL -3.06%) was downgraded to 'Equal-Weight' from 'Oveweight' at Barclays.

*Arista Networks (ANET +1.89%) may move higher initially this morning after it was announced that it will replace GGP Inc in the S&P 500 effective prior to the opening of trading on Tuesday, August 28.

*Autodesk (ADSK -0.46%) climbed nearly 7& in after-hours trading after it reported Q2 adjusted EPS of 19 cents, above consensus of 16 cents, and then forecast full-year adjusted EPS of 87 cents to 95 cents, the midpoint higher than consensus of 90 cents.

*Intuit (INTU +1.32%) fell almost 3% in after-hours trading after it forecast Q1 adjusted EPS of 9 cents to 11 cents, weaker than consensus of 15.7 cents.

*Veeva (VEEV +0.60%) rose almost 3% in after-hours trading after it reported Q2 adjusted EPS of 39 cents, better than consensus of 34 cents, and then forecast full-year adjusted EPS of $1.47 to $1.48, stronger than consensus of $1.37.

*Splunk (SPLK +0.81%) jumped over 9% in after-hours trading after it reported Q2 revenue of $388.3 million, higher than consensus of $358.5 million, and then forecast Q3 revenue of $430 million to $432 million, above consensus of $427.6 million.

*Ross Stores (ROST +1.73%) fell nearly 5% in after-hours trading after it forecast Q3 EPA of 84 cents to 88 cents, the midpoint below consensus of 88 cents.

*HP Inc (HPQ +0.57%) reported Q3 adjusted EPS of 52 cents, above consensus of 51 cents, and then raised guidance on fiscal 2018 adjusted EPS to $2.00 to $2.03 from a May 29 view of $1.97 to $2.02, above consensus of $2.00.

*The Gap (GPS +0.71%) dropped 7% in after-hours trading after it said Q2 Gap global comparable store sales fell -5.0%, weaker than consensus of -2.3%.

*Immunomedics (IMMU -3.24%) slid nearly 3% in after-hours trading after it reported a Q4 loss of -68 cents per share, wider than consensus of -22 cents.

*Rosehill Resources (ROSEU -3.94%) was rated a new 'Buy' at Stifel with a price target of $14.

*New York & Co. (NWY +1.18%) gained 2% in after-hours trading after it reported Q2 comparable store sales rose +0.6% and gross margin improved 150 bps to 32.1%.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 +0.22%) this morning are up +7.00 points (+0.24%).   Thursday's closes: S&P 500 -0.17%, Dow Jones -0.30%, Nasdaq 100 -0.14%.  The S&P 500 on Thursday closed lower on trade tensions between China and the U.S. after both countries slapped $16 billion of tariffs on each other’s good and on the unexpected -1.7% drop in U.S. Jul new home sales to a 9-month low of 627,000, weaker than expectations of +2.2% to 645,000.  Stocks were also undercut by the -0.9 point drop in the U .S. Aug Markit manufacturing PMI to 54.5, weaker than expectations of -0.3 to 55.0 and the slowest pace of expansion in 9 months. 

*Sep 10-year T-notes (ZNU18 -0-035) this morning are down -4.5 ticks.  Thursday's closes: TYU8 +5.50, FVU8 +3.00.  Sep 10-year T-notes on Thursday closed slightly lower on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to a 1-week high and on some long liquidation ahead of Friday morning's comments from Fed Chair Powell at Jackson Hole.  T-note prices were supported by the unexpected -1.7% decline in U.S. Jul new home sales to a 9-month low and by the larger-than-expected -0.8 point decline in the U.S. Aug Markit manufacturing PMI to a 9-month low of 54.5.

*The dollar index (DXY00 -0.28%) this morning is down -0.268 (-0.28%).  EUR/USD (^EURUSD +0.39%) is up +0.0041 (+0.36%).  USD/JPY (^USDJPY +0.09%) is up +0.09 (+0.08%) at a 2-1/2 week high.  Thursday's closes: Dollar Index +0.52 (+0.55%), EUR/USD -0.0057 (-0.49%), USD/JPY +0.73 (+0.66%).  The dollar index on Thursday closed higher on signs of a tight U.S. labor market that is hawkish for Fed policy after U.S. weekly jobless claims unexpectedly fell -2,000 to a 5-week low of 210,000.  There were also Eurozone economic concerns that weighed on EUR/USD after the Eurozone Aug Markit manufacturing PMI unexpectedly fell -0.5 to a 1-3/4 year low of 54.6.

*Metals this morning are higher with Dec gold (GCZ18 +0.41%) +3.9 (+0.33%), Sep silver (SIU18 +0.47%) +0.058 (+0.40%) and Sep copper (HGU18 +0.89%) +0.021 (+0.77%). Thursday's closes: Dec gold -9.3 (-0.77%), Sep silver -0.208 (-1.41%), Sep copper -0.0190 (-0.71%).   Metals on Thursday closed lower on strength in the dollar and on the unexpected decline in U.S. Jul new home sales by -1.7% to a 9-month low of 627,000.  Metals prices were also undercut by weakness in Eurozone and U.S. manufacturing activity after the Eurozone Aug Markit manufacturing PMI unexpectedly fell -0.5 to a 1-3/4 year low of 54.6 and the U.S. Aug Markit manufacturing PMI fell -0.8 to a 9-month low of 54.5.

*Oct WTI crude oil (CLV18 +1.19%) this morning is up +89 cents (+1.31%) at a 2-week high.  Oct gasoline (RBV18 +0.90%) is up +2.08 (+1.06%) at a 2-week high.  Thursday's closes: Oct crude oil -0.03 (-0.04%), Oct gasoline -0.55 (-0.28%).  Oct crude oil and gasoline on Thursday closed lower on a stronger dollar and on a decline in the crack spread to a 1-month low, which reduces the incentive for refiners to purchase crude to refine into gasoline.  Crude oil prices saw carry-over support from Wednesday's EIA data showing a sharp -5.84 million bbl decline in EIA crude inventories (vs expectations of -2.0 million bbl).




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"!!

08/23/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 -0.03%) this morning are unchanged and European stocks are up +0.05% at a 1-week high.  U.S. stocks were under pressure on escalation of trade tensions as the U.S. and China imposed fresh $16 billion of tariffs on each other that began at midnight.  Trading activity was muted as the markets were watching for any headlines to come out of ongoing trade talks in Washington between China and the U.S., and as the markets await the Fed's annual 3-day conference in Jackson Hole, WY, that begins tonight and may provide clues as to the future course of monetary policy.  Gains in European stocks were limited, and Sep COMEX copper (HGU18 -1.53%) fell -1.37% after the Eurozone Aug Markit manufacturing PMI unexpectedly fell to its slowest pace in 1-3/4 years.  Asian stocks settled mixed: Japan +0.22%, Hong Kong -0.49%, China +0.37%, Taiwan +0.55%, Australia -0.34%, Singapore +1.56%, South Korea +0.44%, India +0.13%.  Japan's Nikkei Stock Index eked out a 1-1/2 week high as exporter stocks rallied after USD/JPY climbed to a 4-session high, which bolsters exporters' earnings prospects.

*The dollar index (DXY00 +0.08%) is up +0.08%.  EUR/USD (^EURUSD -0.13%) is down -0.15%.  USD/JPY (^USDJPY +0.20%)is up +0.18%. 

*Sep 10-year T-note prices (ZNU18 -0-015) are down -2 ticks.

*The Eurozone Aug Markit manufacturing PMI unexpectedly fell -0.5 to 54.6, weaker than expectations of +0.1 to 55.2 and the slowest pace of expansion in 1-3/4 years.  The Aug Markit composite PMI rose +0.1 to 54.4, weaker than expectations of +0.2 to 54.5.

*ECB Governing Council member and Bundesbank President Weidmann said that with inflation heading toward the ECB's goal, "it's time to begin exiting the very expansionary monetary policy and the non-standard measures, especially considering their possible side effects."

*The German Aug Markit/BME manufacturing PMI fell -0.8 to 56.1, weaker than expectations of -0.4 to 56.5.  The Aug Markit services PMI rose +1.1 to a 6-month high of 55.2, stronger than expectations of +0.2 to 54.3.

*UK Aug CBI retailing reported sales unexpectedly rose +9 to 29, stronger than expectations of -7 to 13.



**U.S. Stock Preview**

*Key U.S. news today includes: (1) weekly initial unemployment claims (expected +3,000 to 215,000, previous -2,000 to 212,000) and continuing claims (expected +14,000 to 1.735 million, previous -39,000 to 1.721 million), (2) USDA weekly Export Sales, (3) Jun FHFA house price index (expected +0.3% m/m, May +0.2% m/m), (4) Aug Markit manufacturing PMI (expected -0.3 to 55.0, Jul -0.1 to 55.3) and Aug Markit services PMI (expected -0.2 to 55.8, Jul -0.5 to 56.0), (5) Jul new home sales (expected +2.2% to 645,000, Jun -5.3% to 631,000), (6) Aug Kansas City Fed manufacturing activity (expected -1 to 22, Jul -5 to 23), (7) Treasury auctions $14 billion of 5-year TIPS, (8) Kansas City Fed hosts 3-day economic symposium at Jackson Hole, WY, on “Changing Market Structure and Implications for Monetary Policy.”

*Notable Russell 2000 earnings reports today include: HP (consensus $0.51), Hormel Foods (0.39), Toro (0.66), VMware (1.49), Intuit (0.23), Ross Stores (1.01), Autodesk (0.16), Gap (0.72).

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

*Equity conferences during the remainder of this week: Mobile Payments Conference 2018 on Wed-Thu, ACI US Base Oils and Lubricants Summit on Thu, SEB Industrial & Technology Seminar on Thu, UBS Kohler Utility Mini-Conference on Thu, NGAUS Conference on Fri.




**Overnight U.S. Stock Movers**

*Aetna (AET -0.29%) was downgraded to 'Neutral' from 'Overweight' at Cantor Fitzgerald.

*Darden Restaurants (DRI -0.21%) reported that a cyberattack incident involving its restaurants in 23 states may have exposed 567,000 payment card numbers.

*Neurocrine Biosciences (NBIX +1.91%) was rated a new 'Overweight' at Cantor Fitzgerald with a price target of $150.

*Reata Pharmaceuticals (RETA +4.39%) was rated a new 'Overweight' at Cantor Fitzgerald with a price target of $90.

*Synopsys (SNPS +0.80%) rose more than 4% in after-hours trading after it reported Q3 adjusted EPS of 95 cents, better than consensus of 92 cents, and then forecast full-year adjusted EPS of $3.89 to $3.93, stronger than consensus of $3.81.

*Target (TGT +3.21%) was upgraded to 'Outperform' from 'Market Perform' at Telsey Advisory Group with a price target of $100.

*Nordstrom (JWN -1.27%) gained 3% in after-hours trading after its board authorized a $1.5 billion share buyback program.

*Zayo Group Holdings (ZAYO -1.06%) climbed nearly 3% in after-hours trading after it reported Q4 EPS of 18 cents, double expectations of 9 cents.

*Williams-Sonoma (WSM +3.90%) jumped 10% in after-hours trading after it reported Q2 adjusted EPS of 77 cents, better than consensus of 68 cents.

*L Brands (LB -0.06%) slid more than 4% in after-hours trading after it forecast Q3 EPS of 0 to 5 cents, well below consensus of 16 cents.

*Halozyme Therapeutics (HALO +2.50%) was rated a new 'Overweight' at Cantor Fitzgerald with a price target of $27.

*Stein Mart (SMRT +1.33%) dropped 6% in after-hours trading after it forecast a Q3 operating loss of -$10 million.



**Market Comments**

*Sep S&P 500 E-minis (ESU18 -0.03%) this morning are unch.   Wednesday's closes: S&P 500 -0.04%, Dow Jones -0.34%, Nasdaq 100 +0.37%.  The S&P 500 on Wednesday closed slightly lower on increased U.S. political risks after President Trump's former lawyer on Tuesday plead guilty to illegal campaign finance charges.  Stocks were also undercut by concern about the housing sector after U.S. Jul existing home sales unexpectedly fell -0.7% to a 2-1/3 year low of 5.34 million, weaker than expectations of +0.4% to 5.40 million.  Stocks were supported by strength technology stocks and also by a rally in energy stocks as crude oil prices jumped +3.07% to a 1-week high.

*Sep 10-year T-notes (ZNU18 -0-015) this morning are down -2 ticks.  Wednesday's closes: TYU8 +5.50, FVU8 +3.00.  Sep 10-year T-notes on Wednesday rallied to a 2-1/2 month high and closed higher on increased safe-haven demand for T-notes after President Trump's former lawyer pleaded guilty to campaign finance violations.  T-note prices were also supported by the unexpected decline in U.S. Jul existing home sales to a 2-1/3 year low.  T-notes fell back from their best levels after stocks rebounded from overnight losses and moved higher.

*The dollar index (DXY00 +0.08%) this morning is up +0.077 (+0.08%).  EUR/USD (^EURUSD -0.13%) is down -0.0017 (-0.15%).  USD/JPY (^USDJPY +0.20%) is up +0.20 (+0.18%).  Wednesday's closes: Dollar Index -0.110 (-0.12%), EUR/USD +0.0026 (+0.22%), USD/JPY +0.25 (+0.23%).  The dollar index on Wednesday sold off to a 2-1/2 week low and closed lower on increased U.S. political risks after President Trump's former lawyer pleaded guilty to illegal campaign finance charges.  The dollar was also undercut by the unexpected drop in U.S. Jul existing home sales to a 2-1/3 year low and by the fall in the 10-year T-note yield to a 1-1/2 month low, which undercuts the dollar's interest rate differentials.

*Metals this morning are weaker with Dec gold (GCZ18 -0.52%) -6.1 (-0.51%), Sep silver (SIU18 -1.15%) -0.165 (-1.12%) and Sep copper (HGU18 -1.53%) -0.037 (-1.37%).  Wednesday's closes: Dec gold +3.3 (+0.28%), Sep silver -0.016 (-0.11%), Sep copper -0.0220 (-0.82%).  Metals on Wednesday settled mixed with Dec gold at a 1-week high.  Metals prices were undercut by the unexpected decline in U.S. Jul existing home sales to a 2-1/3 year low and by increased copper supplies after LME copper inventories rose +1,600 MT to a 1-1/4 month high of 262,850 MT.  A bullish factor was the decline in the dollar index to a 2-1/2 week low.

*Oct WTI crude oil (CLV18 -0.06%) this morning is up +8 cents (+0.12%).  Oct gasoline (RBV18 -0.19%) is -0.12 (-0.06%).  Wednesday's closes: Oct crude oil +2.02 (+3.07%), Oct gasoline +4.96 (+2.60%).  Oct crude oil and gasoline on Wednesday closed higher with Oct crude at a 1-week high and Oct gasoline at a 2-week high.  Crude oil prices were boosted by the fall in the dollar index to a 2-1/2 week low and by the sharp -5.84 million bbl decline in EIA crude inventories (vs expectations of -2.0 million bbl).  Gasoline prices were undercut by the unexpected rise in EIA gasoline supplies by +1.2 million bbl, more than expectations of -1.0 million bbl.




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"!!

08/22/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 -0.16%) this morning are down -0.06% on concern about President Trump's legal woes after his former lawyer pleaded guilty to illegal campaign finance charges late Tuesday afternoon.  European stocks are up +0.52% at a 1-week high and U.S. stock indexes recovered from their worst levels on strength in energy stocks as Oct WTI crude oil (CLV18 +1.69%) rose +1.70% to a 1-week high.  Crude oil gained on the heels of API data late Tuesday afternoon that showed U.S. crude inventories fell -5.17 million bbl last week.  Also, a 5% jump in Target in pre-market trading is lifting retail stocks after Target reported stronger-than-expected Q2 earnings and forecast higher-than-expected full-year earnings.  Asian stocks settled mixed: Japan +0.64%, Hong Kong +0.63%, China-0.70%, Taiwan +0.11%, Australia -0.29%, Singapore -0.16%, South Korea +0.37%, India +0.02%.  Trade concerns weighed on Chinese stocks ahead of a Chinese delegation's arrival in the U.S. for two days of trade talks today and tomorrow.  A rally in Japanese exporters led the Nikkei Stock Index up to a 1-week high on optimism over trade on reports that the U.S. and Mexico have moved closer toward a consensus on forging a new North American Free Trade Agreement.

*The dollar index (DXY00 -0.25%) is down -0.12% at a 1-1/2 week low.  EUR/USD (^EURUSD +0.33%) is up +0.25% at a 1-1/2 week high.  USD/JPY (^USDJPY -0.02%) is up +0.08%. 

*Sep 10-year T-note prices (ZNU18 +0-045) are up +2.5 ticks at a 2-1/2 month high.

*The Japan Jun all-industry activity index fell -0.8% m/m, right on expectations and the biggest decline in 5-months.


**U.S. Stock Preview**

*Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.0% to 335.8 with purchase sub-index -3.3% to 225.5 and refi sub-index unch at 927.5), (2) Jul existing home sales (expected +0.4% to 5.40 million, Jun -0.6% to 5.38 million), (3) EIA weekly Petroleum Status Report, (4) minutes of the Jul 31-Aug 1 FOMC meeting, (5) USDA Jul Cold Storage.

*Notable Russell 2000 earnings reports today include: Lowe's (consensus $2.02), Target (1.40), Analog Devices (1.46), L Brands (0.35), Williams-Sonoma (0.68), Zayo Group Holdings (0.09), Synopsys (0.92).

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

*Equity conferences during the remainder of this week: Data Integrity Seminar on Wed, Mobile Payments Conference 2018 on Wed-Thu, ACI US Base Oils and Lubricants Summit on Thu, SEB Industrial & Technology Seminar on Thu, UBS Kohler Utility Mini-Conference on Thu, NGAUS Conference on Fri.


**Overnight U.S. Stock Movers**

*Public Storage (PSA -0.73%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs with a price target of $198.

*Target (TGT -0.06%) jumped more than 5% in pre-market trading after it reported Q2 adjusted EPS of $1.47, better than consensus of $1.40, and then forecast full-year adjusted EPS of $5.30 to $5.50, above consensus of $5.29.

*Keysight Technologies (KEYS +0.42%) jumped more than 12% in after-hours trading after it reported Q3 adjusted revenue of $1.01 billion, above consensus of $963.2 million, and then forecast Q4 adjusted revenue of $1.00 billion to $1.02 billion, stronger than consensus of $984.2 million.

*Urban Outfitters (URBN +0.48%) rose more than 3% in after-hours trading after it reported Q2 net sales of $992.5 million, higher than consensus of $980 million.

*Jack Henry (JKHY -0.27%) may move higher initially this morning after it reported Q4 EPS of $11.0, better than consensus of 94 cents.

*ScanSource (SCSC +2.59%) rallied 5% in after-hours trading after it acquired Canpango.

*Myriad Genetics (MYGN +2.19%) climbed nearly 4% in after-hours trading after it reported Q4 adjusted EPS of 38 cents, higher than consensus of 33 cents.

*Red Robin Gourmet Burgers (RRGB +1.26%) slid more than 3% in after-hours trading after it reported Q2 adjusted EPS of 46 cents, below consensus of 49 cents.

*Cardiovascular Systems (CSII +1.14%) was rated a new 'Buy' at Stifel with a price target of $45.

*La-Z-Boy (LZB +2.16%) rallied more than 17% in after-hours trading after it reported Q1 sales of $384.7 million, higher than expectations of $370.5 million.

*Pure Storage (PSTG +1.01%) jumped 8% in after-hours trading after it reported Q2 revenue of $308.9 million, higher than consensus of $301.2 million, and then forecast Q3 revenue of $361 million to $369 million, the midpoint higher than consensus of $363.1 million.

*Super Micro Computer (SMCI -3.17%) plunged more than 18% in after-hours trading after it said it will be unable to meet the Aug 24 deadline date to regain compliance with the Nasdaq Stock Market on several accounting judgements and that it expects its stock will soon be suspended from trading.

*Ferroglobe PLC (GSM +1.00%) dropped more than 4% in after-hours trading after it reported Q2 adjusted Ebitda of $86.3 million, weaker than consensus of $93.1 million.

*Ocular Therapeutics (OCUL +1.16%) rose almost 4% in after-hours trading after a SEC filing showed CEO Mattessich bought $119,000 in shares of the company's stock Monday at an average price of $5.95.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 -0.16%) this morning are down -1.75 points (-0.06%).  Tuesday's closes: S&P 500 +0.21%, Dow Jones +0.25%, Nasdaq 100 +0.35%.  The S&P 500 on Tuesday rallied to a new all-time high and closed higher on optimism that China and the U.S. may be able to resolve their trade differences as the two countries hold trade talks this Wed/Thu.  Mining stocks showed strength after copper prices rose +1.01% on signs of stronger demand when LME canceled warrants, or orders to withdraw copper from LME warehouses, rose +18,000 MT to a 1-1/2 month high.  Energy stocks showed strength after crude oil prices climbed +0.64%. 

*Sep 10-year T-notes (ZNU18 +0-045) this morning are up +2.5 ticks at a 2-1/2 month high.  Tuesday's closes: TYU8 -5.50, FVU8 -3.75.  Sep 10-year T-notes on Tuesday closed lower on reports that President Trump is "not thrilled" with Fed Chair Powell raising interest rates and that he will keep criticizing the Fed if it keeps raising rates, which may push the Fed to accelerate its rate hikes to get the President's criticism out of the way sooner rather than later.  T-note prices were also undercut by reduced safe-haven demand after the S&P 500 climbed to a record high.

*The dollar index (DXY00 -0.25%) this morning is down -0.117 (-0.12%) at a 1-1/2 week low.  EUR/USD (^EURUSD +0.33%) is up +0.0029 (+0.25%) at a 1-1/2 week high.  USD/JPY (^USDJPY -0.02%) is up +0.09 (+0.08%).  Tuesday's closes: Dollar Index -0.644 (-0.67%), EUR/USD +0.0089 (+0.78%), USD/JPY +0.24 (+0.22%).  The dollar index on Tuesday fell to a 1-1/2 week low and closed lower.  The dollar was undercut by negative carry-over from Monday's comments by President Trump who criticized the Fed for raising interest rates.  The dollar was also undercut by strength in the yuan and EUR/USD which both rose to 1-week highs after President Trump accused China and the EU of manipulating their currencies to gain a trade advantage.  In addition, GBP/USD rallied to a 1-1/2 week high after UK Brexit Secretary Raab said his talks with EU negotiator Barnier were positive and he's "confident" of reaching an agreement in October.

*Metals this morning are mixed with Dec gold (GCZ18 +0.52%) +3.6 (+0.30%) at a 1-week high, Sep silver (SIU18 +0.50%) +0.029 (+0.20%) and Sep copper (HGU18 -0.56%) -0.018 (-0.67%).  Tuesday's closes: Dec gold +5.4 (+0.45%), Sep silver +0.096 (+0.65%), Sep copper +0.0270 (+1.01%).  Metals prices on Tuesday closed higher on the fall in the dollar index to a 1-1/2 week low.  Copper prices were supported by signs of stronger demand after LME cancelled warrants, or orders to withdraw copper from LME warehouses, rose +18,000 MT to a 1-1/2 month high of 54,050 MT.

*Oct WTI crude oil (CLV18 +1.69%) this morning is up +$1.12 a barrel (+1.70%) at a 1-week high.  Oct gasoline (RBV18 +1.74%) is up +3.24 ((+1.70%) at a 1-week high.  Tuesday's closes: Oct crude oil +0.42 (+0.64%), Oct gasoline +0.01 (+0.01%).  Oct crude oil and gasoline on Tuesday closed higher on the decline in the dollar index to a 1-1/2 week low and on expectations for Wednesday's weekly EIA crude inventories to fall -2.0 million bbl.  Gasoline prices were undercut as the crack spread fell to a 1-week low, which reduces the incentive for refiners to purchase crude oil to refine into gasoline.




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"!!

08/21/2018 - **Overnight Markets and News**

**Overnight Markets and News**

*Sep E-mini S&Ps (ESU18 +0.16%) this morning are up +0.19% at a 6-1/2 month high on strength in technology stocks led by a 1% increase in Apple in pre-market trading after Bank of America/Merrill Lynch reiterated its Buy rating on the stock and raised its price target on Apple to $250 from $230.   European stocks are higher by +0.70% on strength in miners and commodity producing stocks as Sep COMEX copper (HGU18 +0.94%) gains +0.94% on signs of increased copper demand after LME canceled warrants, or orders to withdraw copper from LME warehouses, rose +18,000 MT to a 1-1/2 month high.  Asian stocks settled mostly higher: Japan +0.09%, Hong Kong +0.56%, China +1.31%, Taiwan +0.87%, Australia -0.96%, Singapore -0.15%, South Korea +1.15%, India +0.02%.  Chinese stocks rose for a second day and the yuan strengthened to a 1-week high against the dollar on speculation that government buying of equities will limit declines.  The Shanghai Composite rebounded from a 2-1/3 year low in the last hour of trade Monday on reports of buying of Chinese blue chip stocks by state-sponsored funds.  Japan's Nikkei Stock Index shook off early losses and closed higher after USD/JPY recovered from a 1-3/4 month low and moved higher, which boosted Japanese exporters.

*The dollar index (DXY00 -0.40%) is down -0.37% at a 1-week low on negative carry-over from Monday's comments from President Trump who said ne "should be given some help by the Fed" and that he's "not thrilled" with Fed Chair Powell raising interest rates.  EUR/USD (^EURUSD +0.42%) is up +0.31% at a 1-week high.  USD/JPY (^USDJPY +0.14%) is up +0.15%. 

*Sep 10-year T-note prices (ZNU18 -0-045) are down -5 ticks.

*UK Aug CBI trends total orders fell -4 to 7, weaker than expectations of -3 to 8.  The Aug CBI trends selling prices rose +2 to 15, stronger than expectations of +1 to 14.

*UK Jul public sector net borrowing fell -2.9 billion pounds, weaker than expectations of -2.0 billion pounds and the biggest decline in 6 months.


**U.S. Stock Preview**

*Key U.S. news today includes: (1) no economic reports or Fed speakers scheduled.

*Notable Russell 2000 earnings reports today include: Toll Brothers (consensus $1.03), Medtronic (1.11), Kohl's (1.64), Nordstrom (1.60), TJX (1.05), Urban Outfitters (0.77).

*U.S. IPO's scheduled to price today: Megalith Financial Acquisition Corp (MFAC/U)

*Equity conferences during the remainder of this week: BMO Capital Markets Silicon Valley Tech Tour on Tue, Data Integrity Seminar on Wed, Mobile Payments Conference 2018 on Wed-Thu, ACI US Base Oils and Lubricants Summit on Thu, SEB Industrial & Technology Seminar on Thu, UBS Kohler Utility Mini-Conference on Thu, NGAUS Conference on Fri.


**Overnight U.S. Stock Movers**

*Apple (AAPL -0.97%) gained nearly 1% in pre-market trading after Bank of America/Merrill Lynch reiterated its 'Buy' rating on the stock and raised their price target on Apple to $250 from $230.

*Discovery (DISCA +3.60%) was upgraded to 'Buy' from 'Hold' at Jeffries with a price target of $34.

*Ingersoll-Rand Plc (IR +0.02%) was rated a new 'Overweight' at Morgan Stanley with a price target of $111.

*MercadoLibre (MELI -1.37%) lost 1% in after-hours trading after it reported an $800 million convertible senior note offering.

*Lennox International (LII +1.19%) was rated a new 'Underweight' at Morgan Stanley with a price target of $201.

*Honeywell International (HON +0.19%) was rated a new 'Overweight' at Morgan Stanley with a price target of $175.

*Nordson (NDSN -0.22%) dropped nearly 9% in after-hours trading after it forecast Q4 EPS of $1.38 to $1.64, the midpoint below consensus of $1.53.

*Conagra Brands (CAG +0.08%) was rated a new 'Overweight' at Stephens with a price target of $45.

*Paylocity Holding (PCTY +1.07%) was rated a new 'Buy' at Guggenheim Securities with a price target of $80.

*Fabrinet (FN +0.78%) climbed more than 6% in after-hours trading after it reported Q4 revenue of $345.3 million, above consensus of $338.0 million, and then forecast Q1 revenue of $347 million to $355 million, the midpoint above consensus of $348.3 million.

*Workday (WDAY +0.45%) was upgraded to 'Buy' from suspended coverage at Guggenheim Securities with a price target of $175.

*Jeffries Financial Group (@symbolPercentChange(JEF was rated a new 'Outperform' at Keefe, Bruyette & Woods with a price target of $29.

*Appian (APPN +0.11%) slid more than 2% in after-hours trading after it announced the launch of a proposed underwritten public offering of 2.0 million shares of its Class A common stock, of which 1.675 million are being offered by Appian and 325,000 shares are being offered by existing stockholders of Appian.

*Vital Therapies (VTL unch) gained more than 2% in after-hours trading after it was rated a new 'Overweight' at Cantor Fitzgerald with a price target of $18.


**Market Comments**

*Sep S&P 500 E-minis (ESU18 +0.16%) this morning are up +5.50 points (+0.19%) at a 6-1/2 month high.  Monday's closes: S&P 500 +0.24%, Dow Jones +0.35%, Nasdaq 100 -0.08%.  The S&P 500 on Monday rose to a 1-week high and closed higher on strength in miners as copper prices jumped +1.50% on signs of stronger demand.  There was also strength in energy stocks as crude oil prices climbed +0.79%.  Stocks also received a boost from some optimism that China and the U.S. may be able to resolve their trade differences as the two countries hold trade talks this Wed/Thu.

*Sep 10-year T-notes (ZNU18 -0-045) this morning are down -5 ticks.  Monday's closes: TYU8 -0.50, FVU8 -0.50.  Sep 10-year T-notes on Monday rallied to a 2-1/2 month high and closed higher on fund short-covering as CFTC data showed that speculative short positions on 10-year T-notes exploded to a record high 698,194 contracts in the week ended Aug 14.  T-notes were also supported by comments by Atlanta Fed President Bostic who said "businesses are increasingly cautious" due to trade uncertainty, which creates a downside risk for the economy.

*The dollar index (DXY00 -0.40%) this morning is down -0.358 (-0.37%) at a fresh 1-week low.  EUR/USD (^EURUSD +0.42%) is up +0.0036 (+0.31%) at a 1-week high.  USD/JPY (^USDJPY +0.14%) is up +0.17 (+0.15%).  Monday's closes: Dollar Index -0.201 (-0.21%), EUR/USD +0.0044 (+0.38%), USD/JPY -0.43 (-0.39%).  The dollar index on Monday fell to a 1-week low and closed lower on the fall in the 10-year T-note yield to a 1-1/2 month low, which reduces the dollar's interest rate differentials, and on dovish comments from Atlanta Fed President Bostic who said "businesses are increasingly cautious" due to trade uncertainty.

*Metals this morning are higher with Dec gold (GCZ18 +0.49%) +5.7 (+0.48%), Sep silver (SIU18 +0.75%) +0.125 (+0.85%) and Sep copper (HGU18 +0.94%) +0.025 (+0.94%).  Monday's closes: Dec gold +10.4 (+0.88%), Sep silver +0.039 (+0.27%), Sep copper +0.0395 (+1.50%).  Metals on Monday closed higher on a weaker dollar.  Copper found support on stronger Chinese copper demand as China unwrought copper imports from Jan-Jul rose +16% y/y to 3.043 MMT.  Copper was also supported by signs of stronger demand after LME cancelled warrants, or orders to withdraw copper from LME warehouses, jumped +11,525 MT to a 1-1/4 month high of 36,050 MT.

*Sep WTI crude oil (CLU18 +0.90%) this morning is up +49 cents (+0.74%).  Sep gasoline (RBU18 +0.64%) is +0.91 (+0.45%).  Monday's closes: Sep crude oil +0.52 (+0.79%), Sep gasoline +3.42 (+1.73%).  Sep crude oil and gasoline on Monday closed higher on the fall in the dollar index to a 1-week low and on global supply concerns as oil workers began a strike at North Sea oil platforms run by Total SA.  Crude oil prices were undercut by the stronger dollar.




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