**Overnight Markets and News**
*Sep E-mini S&Ps (ESU18 +0.01%) this morning are down -0.03% and European stocks are down -0.02% at a new 4-month low on concern about escalation of China/U.S. trade tensions if the U.S. goes ahead with its planned tariffs on an additional $200 billion of Chinese goods. Losses were limited on a rebound in emerging market currencies that has eased contagion concerns after South Africa's rand rose and the Turkish lira climbed to a 3-session high against the dollar. Gains in mining stocks and raw-material producers are another positive for the overall market with Dec COMEX copper (HGZ18 +1.69%) up +1.76%. Copper prices rallied on signs of tighter supplies after LME copper inventories tumbled -7,750 MT to a 3-week low of 254.750 MT. Asian stocks settled mostly lower: Japan 0.41%, Hong Kong -0.99%, China -0.47%, Taiwan -0.64%, Australia -1.12%, Singapore -0.27%, South Korea -0.23%, India +0.59%. Asian stock markets retreated, with China's Shanghai Composite and Japan's Nikkei Stock Index both falling to 2-week lows, on concern President Trump may go ahead with planned tariffs on another $200 billion of Chinese goods. Japanese stocks also fell, as airline stocks and utilities sold-off, after a powerful 6.7 magnitude earthquake in the northern Japanese island of Hokkaido knocked out power to more than 5 million people.
*The dollar index (DXY00 -0.09%) is down -0.08%. EUR/USD (^EURUSD -0.02%) is down -0.01%. USD/JPY (^USDJPY -0.22%) is down -0.22%.
*Dec 10-year T-note prices (ZNZ18 +0-005) are up +1 tick.
*German Jul factory orders unexpectedly fell for a second month as they declined -0.9% m/m, weaker than expectations of +1.8% m/m.
**Overnight Markets and News**
Sep E-mini S&Ps (ESU18 +0.01%) this morning are down -0.03% and European stocks are down -0.02% at a new 4-month low on concern about escalation of China/U.S. trade tensions if the U.S. goes ahead with its planned tariffs on an additional $200 billion of Chinese goods. Losses were limited on a rebound in emerging market currencies that has eased contagion concerns after South Africa's rand rose and the Turkish lira climbed to a 3-session high against the dollar. Gains in mining stocks and raw-material producers are another positive for the overall market with Dec COMEX copper (HGZ18 +1.69%) up +1.76%. Copper prices rallied on signs of tighter supplies after LME copper inventories tumbled -7,750 MT to a 3-week low of 254.750 MT. Asian stocks settled mostly lower: Japan 0.41%, Hong Kong -0.99%, China -0.47%, Taiwan -0.64%, Australia -1.12%, Singapore -0.27%, South Korea -0.23%, India +0.59%. Asian stock markets retreated, with China's Shanghai Composite and Japan's Nikkei Stock Index both falling to 2-week lows, on concern President Trump may go ahead with planned tariffs on another $200 billion of Chinese goods. Japanese stocks also fell, as airline stocks and utilities sold-off, after a powerful 6.7 magnitude earthquake in the northern Japanese island of Hokkaido knocked out power to more than 5 million people.
The dollar index (DXY00 -0.09%) is down -0.08%. EUR/USD (^EURUSD -0.02%) is down -0.01%. USD/JPY (^USDJPY -0.22%) is down -0.22%.
Dec 10-year T-note prices (ZNZ18 +0-005) are up +1 tick.
German Jul factory orders unexpectedly fell for a second month as they declined -0.9% m/m, weaker than expectations of +1.8% m/m.
**U.S. Stock Preview**
*Key U.S. news today includes: (1) Jul Challenger job cuts (Jun -4.2% y/y), (2) Aug ADP employment (expected +200,000, Jul +219,000), (3) weekly initial unemployment claims (expected unchanged at 213,000, previous +3,000 to 213,000) and continuing claims (expected +12,000 to 1.720 million, previous -19,000 to 1.708 million), (3) Q2 non-farm productivity (expected revised up +0.1 to 3.0%) and Q2 unit labor costs (expected unrevised at -0.9%), (4) Aug ISM non-manufacturing PMI (expected +1.1 to 56.8, Jul -3.4 to 55.7), (5) Jul factory orders (expected -0.6%, Jun +0.7% and +0.4% ex transportation), (6) New York Fed President John Williams (voter) discusses the regional and national economy at an event in Buffalo, New York, (7) EIA weekly Petroleum Status Report.
*Notable Russell 2000 earnings reports today include: John Wiley (consensus $0.50), Dell Technologies (1.49), Donaldson (0.58), Okta (-0.19), Palo Alto Networks (1.16), Broadcom (4.83), Marvel Technology Group (0.34).
*U.S. IPO's scheduled to price today: none.
*Equity conferences during the remainder of this week: Goldman Sachs Global Retailing Conference on Wed-Thu, Keefe, Bruyette, & Woods Insurance Conference on Wed-Thu, UBS Global Chemicals & Paper and Packaging Conferences on Wed-Thu, Wells Fargo Health Care Conference on Wed-Thu, Citi Global Technology Conference on Wed-Fri, Citi Biotech Conference on Thu, Bank of America Merrill Lynch Media, Communications & Entertainment Conference on Thu-Fri, Good Food Conference on Thu-Fri.
**Overnight U.S. Stock Movers**
*Parker-Hannifin (PH +1.04%) was rated a new 'Overweight' at Barclays with a price target of $200.
*iRhythm Technologies (IRTC -0.74%) was rated anew 'Buy' at Chardan with a price target of $117.
*Aerovironment (AVAV -0.47%) jumped 7% in after-hours trading after it reported Q1 revenue of $78.0 million, better than consensus of $73.7 million.
*Guidewire (GWRE -4.28%) fell more than 5% in after-hours trading after it forecast full-year adjusted EPS of $1.15 to $1.26, the midpoint below consensus of $1.26.
*Verint Systems (VRNT -1.97%) jumped more than 8% in after-hours trading after it reported Q2 adjusted EPS of 76 cents, well above consensus of 62 cents.
*DocuSign (DOCU -2.70%) fell nearly 3% in after-hours trading despite reporting Q2 revenue of $167 million, higher than consensus of $158.8 million, and after it forecast full-year revenue of $683 million to $688 million, stronger than consensus of $657.9 million.
*Ctrip.com International Ltd (CTRP -3.87%) rose 5% in after-hours trading after it reported Q2 revenue of $1.11 billion, higher than consensus of $1.07 billion.
*Tenable Holdings (TENB -3.27%) slid more than 5% in after-hours trading after it reported a Q2 adjusted loss of -18 cents a share versus -9 cents y/y.
*Cushman & Wakefield (CWK +0.06%) may open higher initially this morning after it reported Q2 revenue of $1.97 billion, stronger than consensus of $1.71 billion.
*LaSalle Hotel Properties (LHO +0.03%) gained more than 1% in after-hours trading after its Board of Trustees voted unanimously that Pebblebrook's Aug 21 proposal constitutes a "superior proposal" to Blackstone's proposal.
*Cloudera (CLDR -4.38%) rallied 10% in after-hours trading after it reported Q2 revenue of $110.3 million, above consensus of $107.8 million, and then forecast full-year revenue of $440 million to $450 million, the midpoint higher than consensus of $441.7 million.
*ProQR Therapeutics NV (PRQR +120.75%) tumbled -11% in after-hours trading after it announced that it intends to offer $75 million of its common stock in an underwritten public offering.
*REV Group (REVG -3.31%) dropped almost 8% in after-hours trading after it reported Q3 net sales of $597.7 million, weaker than consensus of $641.6 million, and then forecast full-year adjusted Ebitda of $160 million to $170 million, below consensus of $173 million.
**Market Comments**
*Sep S&P 500 E-minis (ESU18 +0.01%) this morning are down -1.00 point (-0.03%). Wednesday's closes: S&P 500 -0.28%, Dow Jones +0.09%, Nasdaq 100 -1.30%. The S&P 500 on Wednesday sold off to a 1-week low and closed lower on weakness in technology stocks, as the Nasdaq 100 tumbled more than 1%, and on weak energy stocks after crude oil prices fell -1.65%. Stocks were also undercut by the U.S. Jul trade deficit of -$50.1, which widened to the highest level in 5 months and was negative for U.S. Q3 GDP.
*Dec 10-year T-notes (ZNZ18 +0-005) this morning are up +1 tick. Wednesday's closes: TYZ8 +1.0, FVZ8 +1.00. Dec 10-year T-notes on Wednesday closed higher on dovish comments from St. Louis Fed President Bullard who said low long-term interest rates indicate that the Fed's latest projections for additional rate hikes are "too hawkish for the current macroeconomic environment." T-notes were also boosted by the slump in stocks, which boosted safe-haven demand for T-notes.
*The dollar index (DXY00 -0.09%) this morning is down -0.078 (-0.08%), EUR/USD (^EURUSD -0.02%) is -0.0001 (-0.01%), and USD/JPY (^USDJPY -0.22%) is -0.25 (-0.22%). Wednesday's closes: Dollar Index -0.255 (-0.27%), EUR/USD +0.0048 (+0.41%), USD/JPY +0.12 (+0.11%). The dollar index on Wednesday closed lower on lower T-note yields, which weakened the dollar's interest rate differentials. There was also strength in GBP/USD on reduced Brexit concerns as the British and German governments were said to have abandoned key Brexit demands to potentially ease the path for the UK to make a deal with the EU.
*Metals prices this morning are higher with Dec gold (GCZ18 +0.77%) +9.8 (+0.82%), Dec silver (SIZ18 +0.49%) +0.075 (+0.53%) and Dec copper (HGZ18 +1.69%) +0.046 (+1.76%). Wednesday's closes: Dec gold +2.2 (+0.18%), Dec silver +0.040 (+0.28%), Dec copper +0.80 (+0.31%). Metals on Wednesday closed higher on a weaker dollar and the slide in the S&P 500 to a 1-week low, which boosted the safe-haven demand for precious metals.
*Oct WTI crude oil prices (CLV18 +0.17%) this morning are up +4 cents (+0.06%) and Oct gasoline (RBV18 +0.59%) is +0.95 (+0.48%). Wednesday's closes: Oct crude oil -1.15 (-1.65%), Oct gasoline -2.94 (-1.47%). Oct crude oil and gasoline on Wednesday closed lower with Oct gasoline at a 1-week low. Crude oil prices were undercut by a lack of damage to U.S. Gulf Coast oil installations from Tropical Storm Gordon and by the fall in the crack spread to a 1-week low, which reduces incentive for U.S. refiners to purchase crude oil to refine into gasoline. Crude oil prices were also undercut by expectations for Thursday's EIA data to show that crude supplies at Cushing, the delivery point of WTI futures, will increase by +600,000 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"!!
*Sep E-mini S&Ps (ESU18 +0.01%) this morning are down -0.03% and European stocks are down -0.02% at a new 4-month low on concern about escalation of China/U.S. trade tensions if the U.S. goes ahead with its planned tariffs on an additional $200 billion of Chinese goods. Losses were limited on a rebound in emerging market currencies that has eased contagion concerns after South Africa's rand rose and the Turkish lira climbed to a 3-session high against the dollar. Gains in mining stocks and raw-material producers are another positive for the overall market with Dec COMEX copper (HGZ18 +1.69%) up +1.76%. Copper prices rallied on signs of tighter supplies after LME copper inventories tumbled -7,750 MT to a 3-week low of 254.750 MT. Asian stocks settled mostly lower: Japan 0.41%, Hong Kong -0.99%, China -0.47%, Taiwan -0.64%, Australia -1.12%, Singapore -0.27%, South Korea -0.23%, India +0.59%. Asian stock markets retreated, with China's Shanghai Composite and Japan's Nikkei Stock Index both falling to 2-week lows, on concern President Trump may go ahead with planned tariffs on another $200 billion of Chinese goods. Japanese stocks also fell, as airline stocks and utilities sold-off, after a powerful 6.7 magnitude earthquake in the northern Japanese island of Hokkaido knocked out power to more than 5 million people.
*The dollar index (DXY00 -0.09%) is down -0.08%. EUR/USD (^EURUSD -0.02%) is down -0.01%. USD/JPY (^USDJPY -0.22%) is down -0.22%.
*Dec 10-year T-note prices (ZNZ18 +0-005) are up +1 tick.
*German Jul factory orders unexpectedly fell for a second month as they declined -0.9% m/m, weaker than expectations of +1.8% m/m.
**Overnight Markets and News**
Sep E-mini S&Ps (ESU18 +0.01%) this morning are down -0.03% and European stocks are down -0.02% at a new 4-month low on concern about escalation of China/U.S. trade tensions if the U.S. goes ahead with its planned tariffs on an additional $200 billion of Chinese goods. Losses were limited on a rebound in emerging market currencies that has eased contagion concerns after South Africa's rand rose and the Turkish lira climbed to a 3-session high against the dollar. Gains in mining stocks and raw-material producers are another positive for the overall market with Dec COMEX copper (HGZ18 +1.69%) up +1.76%. Copper prices rallied on signs of tighter supplies after LME copper inventories tumbled -7,750 MT to a 3-week low of 254.750 MT. Asian stocks settled mostly lower: Japan 0.41%, Hong Kong -0.99%, China -0.47%, Taiwan -0.64%, Australia -1.12%, Singapore -0.27%, South Korea -0.23%, India +0.59%. Asian stock markets retreated, with China's Shanghai Composite and Japan's Nikkei Stock Index both falling to 2-week lows, on concern President Trump may go ahead with planned tariffs on another $200 billion of Chinese goods. Japanese stocks also fell, as airline stocks and utilities sold-off, after a powerful 6.7 magnitude earthquake in the northern Japanese island of Hokkaido knocked out power to more than 5 million people.
The dollar index (DXY00 -0.09%) is down -0.08%. EUR/USD (^EURUSD -0.02%) is down -0.01%. USD/JPY (^USDJPY -0.22%) is down -0.22%.
Dec 10-year T-note prices (ZNZ18 +0-005) are up +1 tick.
German Jul factory orders unexpectedly fell for a second month as they declined -0.9% m/m, weaker than expectations of +1.8% m/m.
**U.S. Stock Preview**
*Key U.S. news today includes: (1) Jul Challenger job cuts (Jun -4.2% y/y), (2) Aug ADP employment (expected +200,000, Jul +219,000), (3) weekly initial unemployment claims (expected unchanged at 213,000, previous +3,000 to 213,000) and continuing claims (expected +12,000 to 1.720 million, previous -19,000 to 1.708 million), (3) Q2 non-farm productivity (expected revised up +0.1 to 3.0%) and Q2 unit labor costs (expected unrevised at -0.9%), (4) Aug ISM non-manufacturing PMI (expected +1.1 to 56.8, Jul -3.4 to 55.7), (5) Jul factory orders (expected -0.6%, Jun +0.7% and +0.4% ex transportation), (6) New York Fed President John Williams (voter) discusses the regional and national economy at an event in Buffalo, New York, (7) EIA weekly Petroleum Status Report.
*Notable Russell 2000 earnings reports today include: John Wiley (consensus $0.50), Dell Technologies (1.49), Donaldson (0.58), Okta (-0.19), Palo Alto Networks (1.16), Broadcom (4.83), Marvel Technology Group (0.34).
*U.S. IPO's scheduled to price today: none.
*Equity conferences during the remainder of this week: Goldman Sachs Global Retailing Conference on Wed-Thu, Keefe, Bruyette, & Woods Insurance Conference on Wed-Thu, UBS Global Chemicals & Paper and Packaging Conferences on Wed-Thu, Wells Fargo Health Care Conference on Wed-Thu, Citi Global Technology Conference on Wed-Fri, Citi Biotech Conference on Thu, Bank of America Merrill Lynch Media, Communications & Entertainment Conference on Thu-Fri, Good Food Conference on Thu-Fri.
**Overnight U.S. Stock Movers**
*Parker-Hannifin (PH +1.04%) was rated a new 'Overweight' at Barclays with a price target of $200.
*iRhythm Technologies (IRTC -0.74%) was rated anew 'Buy' at Chardan with a price target of $117.
*Aerovironment (AVAV -0.47%) jumped 7% in after-hours trading after it reported Q1 revenue of $78.0 million, better than consensus of $73.7 million.
*Guidewire (GWRE -4.28%) fell more than 5% in after-hours trading after it forecast full-year adjusted EPS of $1.15 to $1.26, the midpoint below consensus of $1.26.
*Verint Systems (VRNT -1.97%) jumped more than 8% in after-hours trading after it reported Q2 adjusted EPS of 76 cents, well above consensus of 62 cents.
*DocuSign (DOCU -2.70%) fell nearly 3% in after-hours trading despite reporting Q2 revenue of $167 million, higher than consensus of $158.8 million, and after it forecast full-year revenue of $683 million to $688 million, stronger than consensus of $657.9 million.
*Ctrip.com International Ltd (CTRP -3.87%) rose 5% in after-hours trading after it reported Q2 revenue of $1.11 billion, higher than consensus of $1.07 billion.
*Tenable Holdings (TENB -3.27%) slid more than 5% in after-hours trading after it reported a Q2 adjusted loss of -18 cents a share versus -9 cents y/y.
*Cushman & Wakefield (CWK +0.06%) may open higher initially this morning after it reported Q2 revenue of $1.97 billion, stronger than consensus of $1.71 billion.
*LaSalle Hotel Properties (LHO +0.03%) gained more than 1% in after-hours trading after its Board of Trustees voted unanimously that Pebblebrook's Aug 21 proposal constitutes a "superior proposal" to Blackstone's proposal.
*Cloudera (CLDR -4.38%) rallied 10% in after-hours trading after it reported Q2 revenue of $110.3 million, above consensus of $107.8 million, and then forecast full-year revenue of $440 million to $450 million, the midpoint higher than consensus of $441.7 million.
*ProQR Therapeutics NV (PRQR +120.75%) tumbled -11% in after-hours trading after it announced that it intends to offer $75 million of its common stock in an underwritten public offering.
*REV Group (REVG -3.31%) dropped almost 8% in after-hours trading after it reported Q3 net sales of $597.7 million, weaker than consensus of $641.6 million, and then forecast full-year adjusted Ebitda of $160 million to $170 million, below consensus of $173 million.
**Market Comments**
*Sep S&P 500 E-minis (ESU18 +0.01%) this morning are down -1.00 point (-0.03%). Wednesday's closes: S&P 500 -0.28%, Dow Jones +0.09%, Nasdaq 100 -1.30%. The S&P 500 on Wednesday sold off to a 1-week low and closed lower on weakness in technology stocks, as the Nasdaq 100 tumbled more than 1%, and on weak energy stocks after crude oil prices fell -1.65%. Stocks were also undercut by the U.S. Jul trade deficit of -$50.1, which widened to the highest level in 5 months and was negative for U.S. Q3 GDP.
*Dec 10-year T-notes (ZNZ18 +0-005) this morning are up +1 tick. Wednesday's closes: TYZ8 +1.0, FVZ8 +1.00. Dec 10-year T-notes on Wednesday closed higher on dovish comments from St. Louis Fed President Bullard who said low long-term interest rates indicate that the Fed's latest projections for additional rate hikes are "too hawkish for the current macroeconomic environment." T-notes were also boosted by the slump in stocks, which boosted safe-haven demand for T-notes.
*The dollar index (DXY00 -0.09%) this morning is down -0.078 (-0.08%), EUR/USD (^EURUSD -0.02%) is -0.0001 (-0.01%), and USD/JPY (^USDJPY -0.22%) is -0.25 (-0.22%). Wednesday's closes: Dollar Index -0.255 (-0.27%), EUR/USD +0.0048 (+0.41%), USD/JPY +0.12 (+0.11%). The dollar index on Wednesday closed lower on lower T-note yields, which weakened the dollar's interest rate differentials. There was also strength in GBP/USD on reduced Brexit concerns as the British and German governments were said to have abandoned key Brexit demands to potentially ease the path for the UK to make a deal with the EU.
*Metals prices this morning are higher with Dec gold (GCZ18 +0.77%) +9.8 (+0.82%), Dec silver (SIZ18 +0.49%) +0.075 (+0.53%) and Dec copper (HGZ18 +1.69%) +0.046 (+1.76%). Wednesday's closes: Dec gold +2.2 (+0.18%), Dec silver +0.040 (+0.28%), Dec copper +0.80 (+0.31%). Metals on Wednesday closed higher on a weaker dollar and the slide in the S&P 500 to a 1-week low, which boosted the safe-haven demand for precious metals.
*Oct WTI crude oil prices (CLV18 +0.17%) this morning are up +4 cents (+0.06%) and Oct gasoline (RBV18 +0.59%) is +0.95 (+0.48%). Wednesday's closes: Oct crude oil -1.15 (-1.65%), Oct gasoline -2.94 (-1.47%). Oct crude oil and gasoline on Wednesday closed lower with Oct gasoline at a 1-week low. Crude oil prices were undercut by a lack of damage to U.S. Gulf Coast oil installations from Tropical Storm Gordon and by the fall in the crack spread to a 1-week low, which reduces incentive for U.S. refiners to purchase crude oil to refine into gasoline. Crude oil prices were also undercut by expectations for Thursday's EIA data to show that crude supplies at Cushing, the delivery point of WTI futures, will increase by +600,000 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"!!
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