**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"!!
*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"!!
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