Thursday, October 30, 2014

GoPro - sell signals

Today I deleted GoPro (GPRO) for the Barchart Van Meerten New High portfolio for extremely poor price momentum:

1 hour Chart:


Barchart technical indicators:
  • 31.10% off its recent high
  • Below its 20 and 50 day moving averages
  • Relative Strength Index 41.60%
  • Recently traded at 67.77 which is below its 50 day moving average of 70.50




BARCHART MORNING CALL 10/30

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ14 -0.52%) this morning are down -0.43% ahead of U.S. Q3 GDP data that may show a slowdown in economic growth and European stocks are down -1.56% led by a slide in European bank stocks after the head of the Eurozone banking authority said that recent stress tests on banks weren't foolproof. European stocks fell even after Eurozone Oct economic confidence unexpectedly rose and after German Oct unemployment unexpectedly declined. Asian stocks closed mostly higher: Japan +0.67%, Hong Kong -0.49%, China +0.72%, Taiwan -0.18%, Australia +0.52%, Singapore +0.32%, South Korea +0.08%, India +0.92%. Japanese stocks closed higher, with the Nikkei Stock Index at a 3-week high, as exporters gained after the yen slipped to a 3-week low against the dollar, which boosts the earnings prospects of exporters. China's Shanghai Stock Index climbed to a 1-1/2 year high on speculation that the proposed trading link between the Hong Kong and Shanghai stock exchanges will spur foreign inflows into Chinese stocks. Commodity prices are mostly lower. Dec crude oil (CLZ14 -0.96%) is down -1.03%. Dec gasoline (RBZ14 -0.58%) is down -0.68%. Dec gold (GCZ14 -1.71%) is down -1.58%% at a 3-week low. Dec copper (HGZ14 -1.32%) is down -1.30%. Agriculture prices are higher. The dollar index (DXY00 +0.31%) is up +0.30% at a 3-week high. EUR/USD (^EURUSD) is down -0.32% at a 3-week low. USD/JPY (^USDJPY) is up +0.11% at a 3-week high. Dec T-note prices (ZNZ14 +0.09%) are up +2 ticks.
Eurozone Oct economic confidence unexpectedly rose +0.8 to 100.7, better than expectations of -0.2 to 99.7. The Oct business climate indicator rose +0.03 to 0.05 from a downward revised 0.02 in Sep, right on expectations.
German Oct unemployment unexpectedly fell -22,000, better than expectations of a +4,000 increase and the biggest decline in 6 months. The Oct unemployment rate remained unchanged at 6.7%, right on expectations and the lowest since data for a reunified Germany began in 1991.
UK Oct Lloyds business barometer fell -22 from Sep to 35, the lowest in 1-1/2 years.
UK Oct nationwide house prices rose +0.5% m/m and +9.0% y/y, better than expectations of +0.3% m/m and +8.5% y/y.
Japan Sep vehicle production fell -2.6% y/y, an improvement from the -6.7% y/y decline in Aug, but the third straight monthly decline.
U.S. STOCK PREVIEW
The market is expecting today’s weekly initial unemployment claims report to show a small +2,000 increase to 285,000 and for continuing claims to show a small +1,000 increase to 2.352 million. The market is expecting today’s first estimate for Q3 GDP growth to show an increase of +3.0% (q/q annualized). The Treasury today will sell $29 billion of 7-year T-notes, concluding this week’s $108 billion T-note package.
There are 47 of the S&P 500 companies that report earnings today with notable reports including: MasterCard (0.78), Xcel Energy (0.76), Marathon (2.29), CME Group (0.82), Time Warner (1.90), Johnson Controls (1.01), Kellog (0.92), Newmont Mining (0.16), Fluor (1.10), Starbucks (0.74), Expedia (1.74). Equity conferences during the remainder of this week include: GTEC (Government Technology Exhibition & Conference) 2014 on Tue-Thu.
OVERNIGHT U.S. STOCK MOVERS
Time Warner Cable (TWC +0.81%) reported Q3 EPS of $1.86, weaker than consensus of $1.90.
Level 3 (LVLT -0.93%) will replace Jabil Circuit (JBL -0.30%) in the S&P 500 as of the close of trading on November 4.
CME Group (CME +0.61%) reported Q3 EPS of 84 cents, higher than consensus of 82 cents.
Avis Budget (CAR -0.23%) reported Q3 EPS of $1.91, better than consensus of $1.80.
Baidu (BIDU -1.93%) reported Q3 EPS ex-items of $1.90, well above consensus of $1.69.
Williams (WMB +3.07%) reported Q3 EPS of 15 cents, weaker than consensus of 19 cents.
Con-way (CNW -0.53%) reported Q3 EPS of 78 cents, above consensus of 75 cents.
Norwegian Cruise Line (NCLH +1.19%) reported Q3 adjusted EPS of $1.11, better than consensus of $1.08, and then raised guidance on fiscal 2014 adjusted EPS to $2.28-$2.32, better than consensus of $2.26.
Kraft Foods (KRFT -0.59%) reported Q3 EPS ex-items of 78 cents, higher than consensus of 74 cents.
Fortune Brands (FBHS -0.52%) reported Q3 ex-items EPS of 55 cents, less than consensus of 56 cents.
Hanesbrands (HBI -0.15%) reported Q3 adjusted EPS of $1.73, above consensus of $1.68.
Allstate (ALL -0.40%) reported Q3 EPS of $1.39, higher than consensus of $1.33.
F5 Networks (FFIV -2.60%) reported Q4 EPS of $1.57, better than consensus of $1.48.
MetLife (MET +0.33%) reported Q3 operating EPS of $1.60, well above consensus of $1.38.
Visa (V -0.95%) rose 3% in after-hours trading after it reported Q4 adjusted EPS of $2.18, stronger than consensus of $2.10.
Century Aluminum (CENX -0.22%) reported Q3 EPS of 52 cents, right on consensus, although Q3 revenue of $500.6 million was better than consensus of $488.64 million.
Akamai (AKAM -1.64%) reported Q3 EPS of 62 cents, higher than consensus of 57 cents.
Whiting Petroleum (WLL +1.21%) reported Q3 adjusted EPS of $1.24, better than consensus of $1.22.
Unum Group (UNM -0.20%) reported Q3 adjusted EPS of 87 cents, weaker than consensus of 90 cents.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ14 -0.52%) this morning are down -8.50 points (-0.43%). The S&P 500 index on Wednesday fell back from a 1-month high and closed lower: S&P 500 -0.14%, Dow Jones -0.18%, Nasdaq -0.39%. The main bearish factor for stocks was the mildly hawkish FOMC post-meeting statement where the FOMC mentioned “solid job gains” with lower unemployment and that risks to the economy and the job outlook are “nearly balanced.” Bullish factors included (1) strength in energy producers as crude oil rallied and (3) strong Q3 stock earnings results with about 80% of reporting S&P 500 companies having beaten earnings estimates.
Dec 10-year T-notes (ZNZ14 +0.09%) this morning are up +2 ticks. Dec 10-year T-note futures prices on Wednesday slid to a 2-week low and closed lower: TYZ4 -16.00, FVZ4 -15.50. Bearish factors included (1) supply pressures as the Treasury auctions $108 billion of T-notes this week, and (2) the mildly hawkish post-FOMC statement where the FOMC said it sees “solid job gains” with lower unemployment and that underutilization of labor resources is gradually diminishing.
The dollar index (DXY00 +0.31%) this morning is up +0.254 (+0.30%) at a 3-week high. EUR/USD (^EURUSD) is down -0.0041 (-0.32%) at a 3-week low. USD/JPY (^USDJPY) is up +0.12 (+0.11%) at a 3-week high. The dollar index on Wednesday rallied to a 3-week high and closed higher. Closes: Dollar index +0.544 (+0.64%), EUR/USD -0.0102 (-0.80%), USD/JPY +0.735 (+0.68%). The main bullish factor was mildly hawkish FOMC statement where the FOMC said it sees “solid job gains” with lower unemployment, which increases the chances that the Fed will raise interest rates sooner rather than later.
Dec WTI crude oil (CLZ14 -0.96%) this morning is down -85 cents (-1.03%) and Dec gasoline (RBZ14 -0.58%) is down -0.0148 (-0.68%). Dec crude and Dec gasoline on Wednesday closed higher with Dec gasoline at a 2-week high. Closes: CLZ4 +0.78 (+0.96%), RBZ4 +0.0258 (+1.20%). Bullish factors included (1) the +2.06 million bbl increase in weekly EIA crude supplies, less than expectations of +3.8 million bbl, and (2) the -1.24 million bbl decline in weekly EIA gasoline inventories to a 23-month low of 203.14 million bbl, nearly double expectations of a -650,000 bbl draw.
GLOBAL EVENT CALENDAR10/30/2014
US0830 ETWeekly initial unemployment claims expected +2,000 to 285,000, previous +17,000 to 283,000. Weekly continuing claims expected +1,000 to 2.352 million, previous 38,000 to 2.351 million.
0830 ETQ3 GDP expected +3.0% q/q annualized, Q2 +4.6%. Q3 personal consumption expected +1.9%, Q2 +2.5%. Q3 GDP price index expected +1.4%, Q2 +2.1%, Q3 core PCE expected +1.4% q/q, Q2 +2.0% q/q.
0830 ETUSDA weekly Export Sales.
0900 ETFed Chair Janet Yellen delivers welcoming remarks to the Fed Boards National Summit on Diversity in the Economics Profession.
1300 ETTreasury auctions $29 billion 7-year T-notes.
JPN0000 ETJapan Sep vehicle production, Aug -6.7% y/y.
1930 ETJapan Sep jobless rate expected +0.1 to 3.6%. Sep job-to-applicant ratio expected unch at 1.10.
1930 ETJapan Sep overall household spending expected -4.3% y/y, Aug -4.7% y/y.
1930 ETJapan Sep national CPI expected +3.3% y/y, Aug +3.3% y/y. Sep national CPI ex-fresh food expected +3.0% y/y, Aug +3.1% y/y. Sep national CPI ex food & energy expected +2.2% y/y, Aug +2.3% y/y.
1930 ETJapan Oct Tokyo CPI expected +2.7% y/y, Sep +2.9% y/y. Oct Tokyo CPI ex-fresh food expected +2.5% y/y, Sep +2.6% y/y. Oct Tokyo CPI ex food & energy expected +2.0% y/y, Sep +2.0% y/y.
GER0455 ETGerman Oct unemployment change expected +4,000, Sep +12,000. Oct unemployment rate expected unch at 6.7%.
0900 ETGerman Oct CPI (EU harmonized) expected -0.1% m/m and +0.9% y/y, Sep unch m/m and +0.8% y/y.
UK0300 ETUK Oct nationwide house prices expected +0.3% m/m and +8.5% y/y, Sep -0.2% m/m and +9.4% y/y.
0530 ETUK Oct Lloyds business barometer, Sep 57.
2005 ETUK Oct GfK consumer confidence expected unch at -1.
EUR0600 ETEurozone Oct economic confidence expected -0.2 to 99.7, Sep 99.9. Oct business climate indicator expected 0.02 to 0.05, Sep 0.07.
0600 ETRevised Eurozone Oct consumer confidence, previous +0.3 to -11.1.
U.S. STOCK CALENDAR10/30/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Xcel Energy IncXEL USBef-mktQ3 2014 Earnings ReleaseQ3 20140.755
Air Products & Chemicals IncAPD USBef-mktQ4 2014 Earnings ReleaseQ4 20141.614
Marathon Petroleum CorpMPC USBef-mktQ3 2014 Earnings ReleaseQ3 20142.285
BorgWarner IncBWA USBef-mktQ3 2014 Earnings ReleaseQ3 20140.787
ConocoPhillipsCOP USBef-mktQ3 2014 Earnings ReleaseQ3 20141.206
Avon Products IncAVP USBef-mktQ3 2014 Earnings ReleaseQ3 20140.164
Ball CorpBLL USBef-mktQ3 2014 Earnings ReleaseQ3 20141.055
Allegion PLCALLE USBef-mktQ3 2014 Earnings ReleaseQ3 20140.641
L-3 Communications Holdings IncLLL USBef-mktQ3 2014 Earnings ReleaseQ3 20141.842
Pitney Bowes IncPBI USBef-mktQ3 2014 Earnings ReleaseQ3 20140.46
AmerisourceBergen CorpABC USBef-mktQ4 2014 Earnings ReleaseQ4 20141.052
SCANA CorpSCG USBef-mktQ3 2014 Earnings ReleaseQ3 20140.963
MasterCard IncMA USBef-mktQ3 2014 Earnings ReleaseQ3 20140.782
Fidelity National Information Services IncFIS USBef-mktQ3 2014 Earnings ReleaseQ3 20140.791
CME Group Inc/ILCME USBef-mktQ3 2014 Earnings ReleaseQ3 20140.823
Cigna CorpCI US6:00Q3 2014 Earnings ReleaseQ3 20141.825
Iron Mountain IncIRM US6:00Q3 2014 Earnings ReleaseQ3 20140.633
Time Warner Cable IncTWC US6:00Q3 2014 Earnings ReleaseQ3 20141.895
Host Hotels & Resorts IncHST US6:00Q3 2014 Earnings ReleaseQ3 20140.315
NiSource IncNI US6:30Q3 2014 Earnings ReleaseQ3 20140.159
Altria Group IncMO US7:00Q3 2014 Earnings ReleaseQ3 20140.68
American Tower CorpAMT US7:00Q3 2014 Earnings ReleaseQ3 20141.073
National Oilwell Varco IncNOV US7:00Q3 2014 Earnings ReleaseQ3 20141.542
Mosaic Co/TheMOS US7:00Q3 2014 Earnings ReleaseQ3 20140.58
Cardinal Health IncCAH US7:00Q1 2015 Earnings ReleaseQ1 20150.959
Johnson Controls IncJCI US7:00Q4 2014 Earnings ReleaseQ4 20141.008
Public Service Enterprise Group IncPEG US7:30Q3 2014 Earnings ReleaseQ3 20140.742
Invesco LtdIVZ US7:30Q3 2014 Earnings ReleaseQ3 20140.623
Pitney Bowes IncPBI US8:00Q3 2014 Earnings CallQ3 2014
Harman International Industries IncHAR US8:00Q1 2015 Earnings ReleaseQ1 20151.114
Kellogg CoK US8:00Q3 2014 Earnings ReleaseQ3 20140.921
MetLife IncMET US8:00Q3 2014 Earnings CallQ3 2014
Assurant IncAIZ US8:00Q3 2014 Earnings CallQ3 2014
Allegion PLCALLE US8:30Q3 2014 Earnings CallQ3 2014
Cigna CorpCI US8:30Q3 2014 Earnings CallQ3 2014
Iron Mountain IncIRM US8:30Q3 2014 Earnings CallQ3 2014
Time Warner Cable IncTWC US8:30Q3 2014 Earnings CallQ3 2014
American Tower CorpAMT US8:30Q3 2014 Earnings CallQ3 2014
Cardinal Health IncCAH US8:30Q1 2015 Earnings CallQ1 2015
Fidelity National Information Services IncFIS US8:30Q3 2014 Earnings CallQ3 2014
CME Group Inc/ILCME US8:30Q3 2014 Earnings CallQ3 2014
NiSource IncNI US9:00Q3 2014 Earnings CallQ3 2014
Altria Group IncMO US9:00Q3 2014 Earnings CallQ3 2014
Avon Products IncAVP US9:00Q3 2014 Earnings CallQ3 2014
Invesco LtdIVZ US9:00Q3 2014 Earnings CallQ3 2014
Noble Corp plcNE US9:00Q3 2014 Earnings CallQ3 2014
Unum GroupUNM US9:00Q3 2014 Earnings CallQ3 2014
MasterCard IncMA US9:00Q3 2014 Earnings CallQ3 2014
FMC CorpFMC US9:00Q3 2014 Earnings CallQ3 2014
National Oilwell Varco IncNOV US9:00Q3 2014 Earnings CallQ3 2014
Mosaic Co/TheMOS US9:00Q3 2014 Earnings CallQ3 2014
Allstate Corp/TheALL US9:00Q3 2014 Earnings CallQ3 2014
Range Resources CorpRRC US9:00Q3 2014 Earnings CallQ3 2014
BorgWarner IncBWA US9:30Q3 2014 Earnings CallQ3 2014
Williams Cos Inc/TheWMB US9:30Q3 2014 Earnings CallQ3 2014
Kellogg CoK US9:30Q3 2014 Earnings CallQ3 2014
Mattel IncMAT US9:30Analyst DayY 2014
Xcel Energy IncXEL US10:00Q3 2014 Earnings CallQ3 2014
Air Products & Chemicals IncAPD US10:00Q4 2014 Earnings CallQ4 2014
Marathon Petroleum CorpMPC US10:00Q3 2014 Earnings CallQ3 2014
Progressive Corp/ThePGR US10:00Investor Relations Conference Call
Lincoln National CorpLNC US10:00Q3 2014 Earnings CallQ3 2014
Host Hotels & Resorts IncHST US10:00Q3 2014 Earnings CallQ3 2014
Ball CorpBLL US11:00Q3 2014 Earnings CallQ3 2014
L-3 Communications Holdings IncLLL US11:00Q3 2014 Earnings CallQ3 2014
Public Service Enterprise Group IncPEG US11:00Q3 2014 Earnings CallQ3 2014
AmerisourceBergen CorpABC US11:00Q4 2014 Earnings CallQ4 2014
Ensco PLCESV US11:00Q3 2014 Earnings CallQ3 2014
Harman International Industries IncHAR US11:00Q1 2015 Earnings CallQ1 2015
Johnson Controls IncJCI US11:00Q4 2014 Earnings CallQ4 2014
ConocoPhillipsCOP US12:00Q3 2014 Earnings CallQ3 2014
Public Service Enterprise Group IncPEG US12:00Q3 2014 Media Conference Call
Murphy Oil CorpMUR US13:00Q3 2014 Earnings CallQ3 2014
SCANA CorpSCG US13:00Q3 2014 Earnings CallQ3 2014
Juniper Networks IncJNPR US13:00Investor DayY 2014
Western Union Co/TheWU US16:00Q3 2014 Earnings ReleaseQ3 20140.382
Mylan Inc/PAMYL US16:30Q3 2014 Earnings CallQ3 2014
Western Union Co/TheWU US16:30Q3 2014 Earnings CallQ3 2014
Expedia IncEXPE US16:30Q3 2014 Earnings CallQ3 2014
Republic Services IncRSG US17:00Q3 2014 Earnings CallQ3 2014
PerkinElmer IncPKI US17:00Q3 2014 Earnings CallQ3 2014
Starbucks CorpSBUX US17:00Q4 2014 Earnings CallQ4 2014
Eastman Chemical CoEMN US17:00Q3 2014 Earnings ReleaseQ3 20141.803
Mylan Inc/PAMYL USAft-mktQ3 2014 Earnings ReleaseQ3 20141.138
Newmont Mining CorpNEM USAft-mktQ3 2014 Earnings ReleaseQ3 20140.16
Fluor CorpFLR USAft-mktQ3 2014 Earnings ReleaseQ3 20141.096
Republic Services IncRSG USAft-mktQ3 2014 Earnings ReleaseQ3 20140.527
Microchip Technology IncMCHP USAft-mktQ2 2015 Earnings ReleaseQ2 20150.665
Crown Castle International CorpCCI USAft-mktQ3 2014 Earnings ReleaseQ3 20141.023
Mohawk Industries IncMHK USAft-mktQ3 2014 Earnings ReleaseQ3 20142.416
Public StoragePSA USAft-mktQ3 2014 Earnings ReleaseQ3 20142.064
Tesoro CorpTSO USAft-mktQ3 2014 Earnings ReleaseQ3 20142.16
PerkinElmer IncPKI USAft-mktQ3 2014 Earnings ReleaseQ3 20140.566
Starbucks CorpSBUX USAft-mktQ4 2014 Earnings ReleaseQ4 20140.743
Apartment Investment & Management CoAIV USAft-mktQ3 2014 Earnings ReleaseQ3 20140.513
Essex Property Trust IncESS USAft-mktQ3 2014 Earnings ReleaseQ3 20142.101
Expedia IncEXPE USAft-mktQ3 2014 Earnings ReleaseQ3 20141.742
Fluor CorpFLR US17:30Q3 2014 Earnings CallQ3 2014
Microchip Technology IncMCHP USQ2 2015 Earnings CallQ2 2015
Computer Sciences CorpCSC USQ2 2015 Earnings ReleaseQ2 20151.013
Equifax IncEFX USInvestor Meeting - ChicagoY 2014

Wednesday, October 29, 2014

US Physical Therapy - Chart of the Day

US Physical Therapy (USPH) is the Barchart Chart of the Day.  The outpatient clinic operator has a Trend Spotter buy signal, a Weighted Alpha of 41.40+ and gained 28.28% in the last year.

The Chart of the Day belongs to US Physical Therapy (USPH).  I found the stock by sorting the All Time High list for the best technical buy signals then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled another buy signal on 10/13 the stock gained 14.61%.

U.S. Physical Therapy, Inc. operates outpatient physical and occupational therapy clinics which provide post-operative care and treatment for a variety of orthopedic-related disorders and sports-related injuries.


Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 17.42% in the last month
  • Relative Strength Index 81.17%
  • Barchart computes a technical support level at 38.75
  • Recently traded at 42.16 with a 50 day moving average of 36.51
Fundaental factors:
  • Market Cap $514.77 million
  • P/E 25.51
  • Dividend yield 1.21%
  • Revenue expected to grow 13.00% this year and another 6.00% next year
  • Earnings are estimated to increase 16.60% this year, an additional 10.10% next year and continue to compound at an annual rate of 12.50% for the the next 5 years
  • Wall Street analysts issued 4 strong buy and 3 hold recommendations on the stock
The 50-100 day MACD Oscillator has been the best technical trading strategy on thus stock and should be used as your exit point.

Ameren Corp - Buy Signals

Today I added Ameren Corp (AEE) to the Barchart Van Meerten New High portfolio for very positive price momentum:


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 7.53% in the last month
  • Relative Strength Index 61.40%
  • Barchart computes a technical support level at 40.94
  • Recently traded at 41.15 with a 50 day moving average of 39.42


Cubesmart - Buy Signals

Today I added Cubesmart (CUBE) to the Barchart Van Meerten New High portfolio for very positive price momentum:


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 11.00% in the last month
  • Relative Strength Index 67.13%
  • Barchart computes a technical support level at 19.88
  • Recently traded at 19.96 with a 50 day moving average of 18.74


Cedar Shopping Centers - Buy Signals

Today I added Cedar Shopping Centers (CDR) to the Barchart Van Meerten Speculative portfolio for positive price momentum:


Barchart technical indicators:
  • 72% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 19 new highs and up 12.27% in the last month
  • Relative Strength Index 76.41%
  • Barchart computes a technical support level at 6.44
  • Recently traded at 6.67 with a 50 day moving average of 6.24


BARCHART MORNING CALL 10/29

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ14 -0.08%) this morning are down -0.16% ahead of the FOMC decision later today and European stocks are up +0.16% on better-than-expected earnings results from Total SA an Schneider Electric SE. Asian stocks closed mostly higher: Japan +1.46%, Hong Kong +1.27%, China +1.44%, Taiwan +1.48%, Australia -0.09%, Singapore +0.39%, South Korea +2.19%, India +0.81%. Japanese stocks rallied as the Nikkei Stock Index rose to a 1-1/2 week high after Japan's industrial output last month rose more than expected by the most in 8 months. The Shanghai Stock Index climbed to a 1-1/2 week high after Hong Kong's securities regulator said the preparatory work for a planned trade link with Shanghai had been completed, which boosted optimism that the link between the two exchanges will be launched sooner than expected. Commodity prices are mixed. Dec crude oil (CLZ14 +1.44%) is up +0.98%. Dec gasoline (RBZ14 +1.94%) is up +1.23%. Dec gold (GCZ14 -0.37%) is down -0.15%. Dec copper (HGZ14 -0.03%) is up +0.26% at a 2-week high. Agriculture and livestock prices are higher. The dollar index (DXY00 -0.03%) is unch. EUR/USD (^EURUSD) is up +0.02%. USD/JPY (^USDJPY) is down -0.06%. Dec T-note prices (ZNZ14 -0.04%) are down -2.5 ticks.
Japan Sep industrial production rose +2.7% m/m and +0.6% y/y, stronger than expectations of +2.2% m/m and -0.1% y/y with the +2.7% m/m gain the biggest monthly increase in 8 months.
UK Sep net consumer credit rose +0.9 billion pounds, more than expectations of +0.8 billion pounds.
UK Sep mortgage approvals increased by 61,300, less than expectations of 62,000.
UK Sep M4 money supply fell -0.7% m/m, the biggest decline in 6 months. On a year-over-year basis Sep M4 money supply fell -2.5% y/y, the sixth straight y/y decline and the largest annual decrease in 22 months.
U.S. STOCK PREVIEW
The markets are unanimously expecting the FOMC at its 2-day meeting that ends today to end QE3 with a final $15 billion cut.  The Treasury today will sell $15 billion of 2-year floating rate notes and $35 billion of 5-year T-notes.   Equity conferences during the remainder of this week include:  GTEC (Government Technology Exhibition & Conference) 2014 on Tue-Thu.
OVERNIGHT U.S. STOCK MOVERS
U.S. Steel (X +5.10%) rallied over 5% in after-hours trading after it reported Q3 adjusted EPS of $2.16, well ahead of consensus of $1.17.
Marriott (MAR +2.41%) reported Q3 EPS of 65 cents, higher than consensus of 62 cents.
McKesson (MCK -0.74%) reported Q2 adjusted EPS of $2.79, stronger than consensus of $2.73.
Ameriprise (AMP +1.52%) reported Q3 EPS ex-items of $2.24, well above consensus of $1.96.
Western Digital (WDC +0.14%) reported Q1 adjusted EPS of $2.10, higher than consensus of $2.03.
Wynn Resorts (WYNN +0.86%) reported Q3 adjusted EPS of $1.95, stronger than consensus of $1.84.
Owens-Illinois (OI +4.55%) reported Q3 adjusted EPS of 75 cents, better than consensus of 74 cents.
Edison International (EIX +1.46%) reported Q3 core EPS of $1.52, well ahead of consensus of $1.33.
Anadarko (APC +2.30%) reported Q3 adjusted EPS of $1.16, below consensus of $1.27.
Aflac (AFL +1.34%) rose 3% in after-hours trading after it reported Q3 EPS of $1.51, stronger than consensus of $1.43.
Fiserv (FISV +1.72%) reported Q3 adjusted EPS of 86 cents, higher than consensus of 84 cents.
Total System (TSS +1.53%) reported Q3 adjusted EPS of 56 cents, better than consensus of 52 cents.
Gilead (GILD +0.76%) reported Q3 EPS of $1.84, weaker than consensus of $1.92.
AMC Entertainment (AMC +3.43%) reported Q3 EPS of 8 cents, right on consensus, although Q3 revenue of $633.9 million ws below consensus of $639.89 million.
Facebook (FB +0.61%) reported Q3 EPS of 43 cents, higher than consensus of 40 cents.
Electronic Arts (EA +1.65%) jumped over 6% in after-hours trading after it reported Q2 adjusted EPS of 73 cents, well above consensus of 53 cents, and raised guidance on fiscal 2015 EPS view to $2.05 from $1.85, well ahead of consensus of $1.92.
PriceSmart (PSMT +4.37%) reported Q4 EPS of 73 cents, less than consensus of 74 cents.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ14 -0.08%) this morning are down -3.25 points (-0.16%). The S&P 500 index on Tuesday rose to a 1-month high and closed higher: S&P 500 +1.19%, Dow Jones +1.12%, Nasdaq +1.50%. Bullish factors included (1) the +5.5 point increase in U.S. Oct consumer confidence (Conference Board) to 94.5, stronger than expectations of +1.0 to 87.0 and the highest in 7 years, (2) the unexpected +6 point increase in the Oct Richmond Fed manufacturing index to 20, better than expectations of -3 to 11 and the highest in 3-3/4 years, and (3) strong Q3 stock earnings results with about 79% of reporting S&P 500 companies having beaten earnings estimates.
Dec 10-year T-notes (ZNZ14 -0.04%) this morning are down -2.5 ticks. Dec 10-year T-note futures prices on Tuesday closed lower: TYZ4 -6.00, FVZ4 -3.00. Bearish factors included (1) the larger-than-expected increase in U.S. Oct consumer confidence to a 7-year high, and (2) supply pressures as the Treasury auctions $108 billion of T-notes this week. Losses were contained after Sep durable goods orders and Aug S&P CaseShiller home prices both unexpectedly declined.
The dollar index (DXY00 -0.03%) this morning is unchanged. EUR/USD (^EURUSD) is up +0.0002 (+0.02%). USD/JPY (^USDJPY) is down -0.06 (-0.06%). The dollar index on Tuesday closed lower. Closes: Dollar index -0.087 (-0.10%), EUR/USD +0.00359 (+0.28%), USD/JPY +0.339 (+0.31%). Bearish factors included (1) the unexpected declines in U.S. Sep durable goods orders and Aug S&P CaseShiller home prices, which may prod the Fed into delaying an interest rate hike, and (2) long liquidation pressures in the dollar ahead of the conclusion of the FOMC meeting on Wednesday.
Dec WTI crude oil (CLZ14 +1.44%) this morning is up +80 cents (+0.98%) and Dec gasoline (RBZ14 +1.94%) is up +0.0265 (+1.23%). Dec crude and Dec gasoline on Tuesday closed higher. Closes: CLZ4 +0.42 (+0.52%), RBZ4 +0.0251 (+1.18%). Supportive factors included (1) a weaker dollar, and (2) the increase in Oct U.S. consumer confidence to a 7-year high. Gains were limited on expectations that Wednesday’s weekly EIA report will show a +3.8 million bbl jump in crude oil inventories.
GLOBAL EVENT CALENDAR10/29/2014
US0700 ETWeekly MBA mortgage applications, previous +11.6% with purchase sub-index -4.6% and the refi sub-index +23.3%.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $15 billion 2-year floating-rate notes.
1300 ETTreasury auctions $35 billion 5-year T-notes.
1400 ETFOMC meeting announcement: no change expected in fed funds rate target range of zero to 0.25%; QE3 expected to be cut by -$15 billion to zero to end the program.
UK0530 ETUK Sep net consumer credit expected +0.8 billion pounds, Aug +0.9 billion pounds.
0530 ETUK Sep mortgage approvals expected 62,000, Aug 64,200.
0530 ETUK Sep M4 money supply, Aug +0.3% m/m and -1.5% y/y.
U.S. STOCK CALENDAR10/29/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
WellPoint IncWLP US6:00Q3 2014 Earnings ReleaseQ3 20142.263
TE Connectivity LtdTEL US6:01Q4 2014 Earnings ReleaseQ4 20141
Praxair IncPX US6:02Q3 2014 Earnings ReleaseQ3 20141.622
Eaton Corp PLCETN US6:31Q3 2014 Earnings ReleaseQ3 20141.236
Wisconsin Energy CorpWEC US7:00Q3 2014 Earnings ReleaseQ3 20140.519
Hershey Co/TheHSY US7:00Q3 2014 Earnings ReleaseQ3 20141.081
DENTSPLY International IncXRAY US7:00Q3 2014 Earnings ReleaseQ3 20140.595
Garmin LtdGRMN US7:00Q3 2014 Earnings ReleaseQ3 20140.711
McGraw Hill Financial IncMHFI US7:10Q3 2014 Earnings ReleaseQ3 20140.938
Hess CorpHES US7:30Q3 2014 Earnings ReleaseQ3 20141.068
Automatic Data Processing IncADP US7:30Q1 2015 Earnings ReleaseQ1 20150.601
Southern Co/TheSO US7:30Q3 2014 Earnings ReleaseQ3 20141.071
Waste Management IncWM US7:30Q3 2014 Earnings ReleaseQ3 20140.677
Sealed Air CorpSEE US7:30Q3 2014 Earnings ReleaseQ3 20140.454
Kroger Co/TheKR US7:45Investor Meeting - Day 2Y 2014
Dun & Bradstreet Corp/TheDNB US8:00Q3 2014 Earnings CallQ3 2014
Owens-Illinois IncOI US8:00Q3 2014 Earnings CallQ3 2014
Exelon CorpEXC US8:00Q3 2014 Earnings ReleaseQ3 20140.715
Phillips 66PSX US8:00Q3 2014 Earnings ReleaseQ3 20141.746
Ralph Lauren CorpRL US8:01Q2 2015 Earnings ReleaseQ2 20152.052
WellPoint IncWLP US8:30Q3 2014 Earnings CallQ3 2014
Automatic Data Processing IncADP US8:30Q1 2015 Earnings CallQ1 2015
Sealed Air CorpSEE US8:30Q3 2014 Earnings CallQ3 2014
Express Scripts Holding CoESRX US8:30Q3 2014 Earnings CallQ3 2014
TE Connectivity LtdTEL US8:30Q4 2014 Earnings CallQ4 2014
Hershey Co/TheHSY US8:30Q3 2014 Earnings CallQ3 2014
DENTSPLY International IncXRAY US8:30Q3 2014 Earnings CallQ3 2014
CH Robinson Worldwide IncCHRW US8:30Q3 2014 Earnings CallQ3 2014
McGraw Hill Financial IncMHFI US8:30Q3 2014 Earnings CallQ3 2014
Aflac IncAFL US9:00Q3 2014 Earnings CallQ3 2014
Anadarko Petroleum CorpAPC US9:00Q3 2014 Earnings CallQ3 2014
AGL Resources IncGAS US9:00Q3 2014 Earnings CallQ3 2014
Ralph Lauren CorpRL US9:00Q2 2015 Earnings CallQ2 2015
Gannett Co IncGCI US9:00Acquisition of Cars.com by Gannett Co Inc Call
Goodyear Tire & Rubber Co/TheGT US9:00Q3 2014 Earnings CallQ3 2014
Ameriprise Financial IncAMP US9:00Q3 2014 Earnings CallQ3 2014
Kohl's CorpKSS US9:00Investor MeetingY 2014
Hess CorpHES US10:00Q3 2014 Earnings CallQ3 2014
Marriott International Inc/DEMAR US10:00Q3 2014 Earnings CallQ3 2014
Waste Management IncWM US10:00Q3 2014 Earnings CallQ3 2014
Eaton Corp PLCETN US10:00Q3 2014 Earnings CallQ3 2014
Boston Properties IncBXP US10:00Q3 2014 Earnings CallQ3 2014
Kimco Realty CorpKIM US10:00Q3 2014 Earnings CallQ3 2014
Garmin LtdGRMN US10:30Q3 2014 Earnings CallQ3 2014
Equity ResidentialEQR US11:00Q3 2014 Earnings CallQ3 2014
Exelon CorpEXC US11:00Q3 2014 Earnings CallQ3 2014
Praxair IncPX US11:00Q3 2014 Earnings CallQ3 2014
Newfield Exploration CoNFX US11:00Q3 2014 Earnings CallQ3 2014
Phillips 66PSX US11:00Q3 2014 Earnings CallQ3 2014
Cincinnati Financial CorpCINF US11:00Q3 2014 Earnings CallQ3 2014
Southern Co/TheSO US13:00Q3 2014 Earnings CallQ3 2014
Macerich Co/TheMAC US13:30Q3 2014 Earnings CallQ3 2014
Wisconsin Energy CorpWEC US14:00Q3 2014 Earnings CallQ3 2014
Unum GroupUNM US16:00Q3 2014 Earnings ReleaseQ3 20140.898
CBRE Group IncCBG US16:00Q3 2014 Earnings ReleaseQ3 20140.348
Kraft Foods Group IncKRFT US16:00Q3 2014 Earnings ReleaseQ3 20140.741
F5 Networks IncFFIV US16:05Q4 2014 Earnings ReleaseQ4 20141.481
Allstate Corp/TheALL US16:05Q3 2014 Earnings ReleaseQ3 20141.335
F5 Networks IncFFIV US16:30Q4 2014 Earnings CallQ4 2014
Akamai Technologies IncAKAM US16:30Q3 2014 Earnings CallQ3 2014
Visa IncV US17:00Q4 2014 Earnings CallQ4 2014
CBRE Group IncCBG US17:00Q3 2014 Earnings CallQ3 2014
Kraft Foods Group IncKRFT US17:00Q3 2014 Earnings CallQ3 2014
Murphy Oil CorpMUR USAft-mktQ3 2014 Earnings ReleaseQ3 20140.986
Visa IncV USAft-mktQ4 2014 Earnings ReleaseQ4 20142.097
Noble Corp plcNE USAft-mktQ3 2014 Earnings ReleaseQ3 20140.546
Akamai Technologies IncAKAM USAft-mktQ3 2014 Earnings ReleaseQ3 20140.566
FMC CorpFMC USAft-mktQ3 2014 Earnings ReleaseQ3 20140.96
Williams Cos Inc/TheWMB USAft-mktQ3 2014 Earnings ReleaseQ3 20140.187
Lincoln National CorpLNC USAft-mktQ3 2014 Earnings ReleaseQ3 20141.425
MetLife IncMET USAft-mktQ3 2014 Earnings ReleaseQ3 20141.38
Assurant IncAIZ USAft-mktQ3 2014 Earnings ReleaseQ3 20141.607
Range Resources CorpRRC USAft-mktQ3 2014 Earnings ReleaseQ3 20140.334
Goodyear Tire & Rubber Co/TheGT USQ3 2014 Earnings ReleaseQ3 20140.704