Live Index – Tue, 08 Dec 2015 Premarket
December E-mini S&Ps (ESZ15 -0.91%) are down -0.73% and European stocks are down -1.07% on global growth concerns after China Nov imports fell for a thirteenth month and China Nov exports declined more than expected. Weakness in miners and commodity producers are leading the overall market lower on Chinese demand concerns with Anglo American Plc, BHP Billiton and Rio Tinto Group all down over 4%. Asian stocks settled lower: Japan -1.04%, Hong Kong -1.34%, China -1.89%, Taiwan -1.31%, Australia -0.91%, Singapore -0.86%, South Korea -0.60%, India -0.86%. Despite a larger-than-expected upward revision to Japan Q3 GDP, Japanese stocks closed lower on concern the strength in Q3 GDP will keep the BOJ from expanding stimulus measures.
The dollar index (DXY00 -0.07%) is down -0.03%. EUR/USD (^EURUSD) is up +0.21%. USD/JPY (^USDJPY) is down -0.22%.
Mar T-note prices (ZNH16 +0.06%) are little changed, down -0.5 of a tick.
China Nov exports fell -6.8% y/y, weaker than expectations of -5.0% y/y, and Nov imports fell -87% y/y, less than expectations of -11.9% y/y but still the thirteenth consecutive month that Chinese imports have declined. As a result, the China Nov trade balance unexpectedly shrank to a surplus of +$ 54.10 billion from +$ 61.64 billion in Oct when expectations were for the surplus to widen to +$ 64.00 billion.
Japan Q3 GDP was revised higher to +1.0% q/q annualized from the originally reported -0.8% q/q annualized, The Q3 deflator was revised downward to +1.8% y/y from the originally reported +2.0% y/y.
Key U.S. news today includes: (1) Oct JOLTS job openings (expected -26,000 to 5.500 million, Sep +149,000 to 5.526 million), and (2) the Treasury’s auction of $ 24 billion of 3-year T-notes.
There are 5 of the Russell 1000 companies report earnings today: Toll Brothers (consensus $ 0.83), John Wiley (0.81), HD Supply (0.65), Autozone (8.24), Costco (1.17).
U.S. IPO’s scheduled to price today: none.
Equity conferences during the remainder of this week include: Raymond James Technology and Communications Investors Conference on Mon-Wed, UBS Global Media and Communications Conference on Mon-Wed, Business Insider’s Ignition Future of Digital Conference on Tue, Citi Global Technology Conference on Tue, Barclays Global Technology, Media and Telecommunications Conference on Tue-Wed, Goldman Sachs U.S. Financial Services Conference on Tue-Wed, Oppenheimer Health Care Conference on Tue-Wed, Wells Fargo Energy Symposium, Bank of America Merrill Lynch Paper, Packaging and Builders Conference on Wed-Thu, Capital One Financial Corp Energy Conference on Wed-Thu, 10th Annual Energy Conference on Thu.
CBOE Holdings (CBOE -0.30%) was downgraded to ‘Underweight’ from ‘Equalweight’ at Barclays.
Chipotle Mexican Grill (CMG -1.68%) fell over 6% in after-hours trading after it said it closed a restaurant in Boston to investigate “a number” of illnesses among patrons who ate at the restaurant. Chipotle says there is no evidence to suggest the incident is related to previous E. coli cases.
AutoZone (AZO -1.16%) reported Q1 EPS of $ 8.29, higher than conensus of $ 8.24.
Comcast (CMCSA -0.63%) was rated a new ‘Buy’ at Nomura with a price target of $ 72.
Nike (NKE -0.55%) rose nearly 1% in after-hours trading after it said it signed NBA star LeBron James to a lifetime deal.
Casey’s General Stores (CASY +0.18%) rose nearly 1% in after-hours trading after it reported Q2 EPS of $ 2.00, well above consensus of $ 1.50, although Q2 revenue of $ 1.92 billion was below consensus of $ 1.96 billion.
H&R Block (HRB -0.54%) slid over 4% in after-hours trading after it reported Q2 revenue of $ 128 million, below consensus of $ 136.7 million.
United Natural Foods (UNFI +2.49%) dropped over 8% in after-hours trading after it reported Q1 EPS of 63 cents, below consensus of 68 cents, and then lowered guidance on fiscal 2015 adjusted EPS to $ 2.79-$ 2.89 from a prior estimate of $ 2.86-$ 2.98, weaker than consensus of $ 2.91.
Outerwall (OUTR -1.96%) plunged over 20% in after-hours trading after it lowered guidance on fiscal 2015 revenue to $ 2.17 billion-$ 2.19 billion from a previous forecast of $ 2.21 billion-$ 2.24 billion, below consensus of $ 2.22 billion.
Ventas (VTR +1.17%) was rated a new ‘Buy’ at Edward Jones.
HealthEquity (HQY +0.72%) fell 3% in after-hours trading after it reported Q3 adjusted EPS of 8 cents, better than consensus of 7 cents, but reported Q3 revenue of $ 30.6 million, below consensus of $ 31.1 million.
Smith & Wesson (SWHC +7.64%) climbed over 1% in after-hours trading on speculation its Q2 EPS results, to be released Tuesday, will be better than expected as recent mass shootings have boosted gun sales and have some lawmakers calling for more restrictions on firearms.
TherapeuticsMD (TXMD -4.95%) soared more than 40% in after-hours trading after the company said its trial of a hormonal treatment to reduce vaginal pain during intercourse for post-menopausal patients was successful.
Dec E-mini S&Ps (ESZ15 -0.91%) this morning are down -15.25 points (-0.73%). Monday’s closes: S&P 500 -0.70%, Dow Jones -0.66%, Nasdaq -0.48%. The S&P 500 on Monday closed lower on weakness in energy producers after the price of crude oil fell to a 6-3/4 year low. In addition, there was a slide in consumer discretionary companies led by a 10% plunge in Staples after the U.S. Federal Trade Commission said it would seek to block the Staples/Office Depot merger. Stock prices found support as airline stocks rallied on expectations that the plunge in fuel prices will boost airline profits.
Mar 10-year T-notes (ZNH16 +0.06%) this morning are down -0.5 of a tick. Monday’s closes: TYH6 +13.50, FVH6 +6.75. Mar T-notes on Monday closed higher on the slide in stocks, which boosted the safe-haven demand for T-notes, and on the slump in crude oil prices to a 6-3/4 year low, which reduced inflation expectations as the 10-year T-note breakeven inflation rate fell to a 2-week low.
The dollar index (DXY00 -0.07%) this morning is down -0.026 (-0.03%). EUR/USD (^EURUSD) is up +0.0023 (+0.21%). USD/JPY (^USDJPY) is down -0.27 (-0.22%). Monday’s closes: Dollar Index +0.301 (+0.31%), EUR/USD -0.0044 (-0.40%), USD/JPY +0.26 (+0.21%). The dollar index on Monday closed higher on carryover support from Friday’s stronger-than-expected U.S. Nov payrolls report, which bolstered the case for a Fed interest rate increase at next week’s FOMC meeting. In addition, there was weakness in EUR/USD after German Oct industrial production and Eurozone Dec Sentix investor confidence were both below expectations.
Jan crude oil (CLF16 -0.66%) this morning is up +36 cents (+0.96%) and Jan gasoline (RBF16 +0.32%) is up +0.0176 (+1.46%). Monday’s closes: CLF6 -2.34 (-5.85%), RBF6 -0.0581 (-4.57%). Jan crude oil and gasoline on Monday settled sharply lower with Jan crude at a 6-3/4 year low and Jan gasoline at a 2-week low. Crude oil prices continued to see downward pressure from last Friday’s failed OPEC meeting where OPEC made no pretense of any attempt to cut production and instead raised its production target.
|US||1000 ET||Oct JOLTS job openings expected -26,000 to 5.500 million, Sep +149,000 to 5.526 million.|
|1300 ET||Treasury auctions $ 24 billion 3-year T-notes.|
|JPN||0000 ET||Japan Nov eco watchers survey current expected +0.5 to 48.7, Oct 48.2. Nov eco watchers survey outlook expected +0.1 to 49.2, Oct 49.1.|
|1850 ET||Japan Oct machine orders expected -1.5% m/m and +0.6% y/y, Sep +7.5% m/m and -1.7% y/y.|
|UK||0300 ET||UK Nov Halifax house prices expected +0.2% m/m and +9.5% in the 3-months through Nov y/y, Oct +1.1% m/m and +9.7% in the 3-months through Oct.|
|0430 ET||UK Oct industrial production expected +0.1% m/m m/m and +1.2% y/y, Sep -0.2% m/m and +1.1% y/y.|
|0430 ET||UK Oct manufacturing production expected -0.2% m/m and unch y/y, Sep +0.8% m/m and -0.6% y/y.|
|EUR||0500 ET||Revised Eurozone Q3 GDP, previous +0.3% q/q and +1.6% y/y.|
|CHI||2030 ET||China Nov CPI expected +1.4% y/y, Oct +1.4% y/y. Nov PPI expected -6.0% y/y, Oct -5.9% y/y.|
|American Airlines Group Inc||AAL US||Bef-mkt||November 2015 Sales and Revenue Release – Traffic Results||2015|
|Toll Brothers Inc||TOL US||Bef-mkt||Q4 2015 Earnings Release||Q4 2015||0.831|
|John Wiley & Sons Inc||JW/A US||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.805|
|HD Supply Holdings Inc||HDS US||6:00||Q3 2016 Earnings Release||Q3 2016||0.653|
|AutoZone Inc||AZO US||7:00||Q1 2016 Earnings Release||Q1 2016||8.242|
|HD Supply Holdings Inc||HDS US||8:00||Q3 2016 Earnings Call||Q3 2016|
|H&R Block Inc||HRB US||8:30||Q2 2016 Earnings Call||Q2 2016|
|Home Depot Inc/The||HD US||9:00||Investor & Analyst Conference||Y 2015|
|Eli Lilly & Co||LLY US||9:00||Investment Community Meeting||Y 2015|
|L-3 Communications Holdings Inc||LLL US||9:00||Investor Meeting||Y 2015|
|AutoZone Inc||AZO US||10:00||Q1 2016 Earnings Call||Q1 2016|
|John Wiley & Sons Inc||JW/A US||10:00||Q2 2016 Earnings Call||Q2 2016|
|Toll Brothers Inc||TOL US||11:00||Q4 2015 Earnings Call||Q4 2015|
|Edwards Lifesciences Corp||EW US||16:00||Investor Conference – Day 1||Y 2015|
|United Continental Holdings Inc||UAL US||17:00||November 2015 Sales and Revenue Release – Operational Performance||2015|
|Costco Wholesale Corp||COST US||21:00||Q1 2016 Earnings Release||Q1 2016||1.172|
|Thor Industries Inc||THO US||Annual General Meeting|
|United Parcel Service Inc||UPS US||Roadshow – Boston||Y 2015|
|National Instruments Corp||NATI US||Investor Day – San Jose||Y 2015|
|Solera Holdings Inc||SLH US||Special Meeting – M&A Vote|