Mar E-mini S&Ps (ESH17 -0.21%) are down -0.21% and European stocks are down -0.42% as increased French election risks fuel long liquidation is stocks. Apr COMEX gold (GCJ17 +0.14%) is up +0.13% at a 1-week high and government bond prices are higher on increased safe-haven demand as the 10-year German bund yield slid to a 1-week low of 0.299% after French Socialist Party presidential candidate Harmon said he has already talked with far-left candidate Melenchon to discuss a single candidacy. Based on the latest polls, a merger between these two candidates may increase the chance of the likelihood of Le Pen versus Melenchon/Harmon in second round elections. The monthly Ipsos poll shows that show National Front candidate Le Pen ahead with 26% compared with 14.5% for Harmon and only 12% for Melenchon. Weakness in crude oil prices has also weakened energy producing stocks with Mar WTI crude oil (CLH17 -0.43%) down -0.43%. Asian stocks settled mostly lower: Japan -0.58%, Hong Kong -0.31%, China -0.85%, Taiwan -0.12%, Australia -0.18%, Singapore +0.35%, South Korea -0.03%, India +0.59%. A slide in Japanese exporters led the Nikkei Stock Index down to a 1-week low as the stronger yen reduced earnings prospects after USD/JPY dropped to a 1-week low.
The dollar index (DXY00 +0.17%) is up +0.27%. EUR/USD (^EURUSD) is down -0.25%. USD/JPY (^USDJPY) is down -0.31% at a 1-week low.
Mar 10-year T-note prices (ZNH17 +0.21%) are up +7.5 ticks.
Key U.S. news today includes: (1) Jan leading indicators (expected +0.5%, Dec +0.5%).
Notable S&P 500 earnings reports today include: Deere (consensus $ 0.55), Moody’s (1.14), Fluor (0.81), Spectra Energy (0.31), VF Corp (0.97), JM Smucker (2.01), Campbell Soup (0.88), Leucadida National (0.23), DENTSPLY STRONA (0.65).
U.S. IPO’s scheduled to price today: none.
Equity conferences: none.
Avis Budget Group (CAR -12.05%) was dowmgraded to ‘Neutral’ from ‘Outperform’ at Credit Suisse with a target price of $ 38.
DaVita (DVA -0.29%) gained almost 2% in after-hours trading after it reported Q4 adjusted EPS of 98 cents, higher than consensus of 90 cents
Arista Networks (ANET -0.50%) rallied 9% in after-hours trading after it reported Q4 adjusted EPS of $ 1.04, better than consensus of 82 cents, and said it sees Q1 revenue of $ 320 million-$ 330 million, above consensus of $ 304.2 million.
Nu Skin Enterprises (NUS +0.25%) slumped 7% in after-hours trading after it reported Q4 EPS of 69 cents, below consensus of 80 cents, and said it sees Q1 EPS of 47 cents-51 cents, weaker than consensus of 55 cents.
Brookdale Senior Living (BKD +0.98%) gained 1% in after-hours trading after Dow Jones reported that Ventas was in talks to buy all or part of the company.
WebMD Health (WBMD +0.39%) rose nearly 3% in after-hours trading after it reported Q4 EPS of 73 cents, better than consensus of 67 cents, and said it is exploring strategic alternatives for the company.
Trade Desk (TTD +5.34%) gained over 2% in after-hours trading after it reported Q4 adjusted EPS of 33 cents, above consensus of 22 cents, and said it sees 2017 revenue of $ 270 million, higher than consensus of $ 247.1 million.
Lennox International (LII +5.27%) fell 3% in after-hours trading after it cancelled out of the Barclays conference in Miami next week, citing back surgery to the CFO.
Cohu (COHU +2.02%) jumped 9% in after-hours trading after it reported Q4 adjusted EPS of 24 cents, well above consensus of 9 cents.
Impinj (PI -3.10%) dropped 7% in after-hours trading after it said it sees a Q1 adjusted profit of 1 cent to a loss of -6 cents, weaker than consensus for a profit of 2 cents.
Cognex (CGNX +0.70%) rallied over 4% in after-hours trading after it reported Q4 EPS continuing operations of 43 cents, better than consensus of 29 cents.
Allscripts Healthcare Solutions (MDRX -0.08%) lost 2% in after-hours trading after it reported Q4 adjusted EPS of 14 cents, below consensus of 15 cents.
TrueCar (TRUE -0.67%) surged 13% in after-hours trading after it said it sees 2017 revenue of $ 315 million-$ 320 million, higher than consensus of $ 308.6 million.
Airgain (AIRG -4.78%) climbed over 6% in after-hours trading after it reported Q4 EPS of 12 cents, better than consensus of 10 cents.
Flowserve (FLS -0.76%) slid 4% in after-hours trading after it said it sees 2017 adjusted EPS of $ 1.55-$ 1.85, weaker than consensus of $ 2.13.
TimkenSteel (TMST +1.49%) rose 6% in after-hours trading after it said it sees improving sentiment across all markets and expects Q1 shipments to be up +40% q/q.
Cytokinetics (CYTK -1.31%) jumped over 8% in after-hours trading after it reported Q4 revenue of $ 33.1 million, double expectations of $ 16.3 million.
Mar E-mini S&Ps (ESH17 -0.21%) this morning are down -5.00 points (-0.21%). Thursday’s closes: S&P 500 -0.09%, Dow Jones +0.04%, Nasdaq -0.03%. The S&P 500 on Thursday closed lower on a continued lack of details from the Trump administration about its tax and fiscal plans, which fueled long liquidation in stocks, and on the jump in the VIX volatility index to a 2-week high, which also boosted long liquidation in equities. Bullish factors included the +4.6% increase in U.S. Jan building permits to 1.285 million (stronger than expectations of +0.2% to 1.23 million and the highest in 14 months) and the unexpected +19.7-point jump in the Feb Philadelphia Fed business outlook survey to 43.3 (stronger than expectations of -5.6 to 18.0 and the highest in 33 years).
Mar 10-year T-notes (ZNH17 +0.21%) this morning are up +7.5 ticks. Thursday’s closes: TYH7 +15.50, FVH7 +9.50. Mar 10-year T-notes on Thursday closed higher on some short-covering after T-note prices failed to break below their 1-3/4 month long consolidation range and on inceased safe-haven demand with the slide in stock prices.
The dollar index (DXY00 +0.17%) this morning is up +0.27 (+0.27%). EUR/USD (^EURUSD) is down -0.0027 (-0.25%). USD/JPY (^USDJPY) is down -0.35 (-0.31%) at a 1-week low. Thursday’s closes: Dollar index -0.74 (-0.73%), EUR/USD +0.0073 (+0.69%), USD/JPY -0.92 (-0.81%). The dollar index on Thursday closed lower on a lack of specifics from the Trump administration on its tax or fiscal policies, which spurred long liquidation in the dollar, and safe-haven demand for the yen with the weakness in stocks.
Mar WTI crude oil prices (CLH17 -0.43%) this morning are down -23 cents (-0.43%) and Mar gasoline (RBH17 -1.82%) is down -0.0271 (-1,78%) at a 1-week low. Thursday’s closes: Mar crude +0.25 (+0.47%), Mar gasoline -0.0232 (-1.50%). Mar crude oil and gasoline on Thursday settled mixed with Mar gasoline at a 1-week low. Crude oil prices were undercut by negative carry-over from Wednesday’s EIA data that showed excesssive U.S. fuel supplies after EIA crude inventories rose +9.527 million bbl to a record 518.1 million bbl and EIA gasoline supplies rose +2.846 million bbl to a record 259 million bbl.
|Friday, Feb 17|
|US||1000 ET||Jan leading indicators expected +0.5%, Dec +0.5%.|
|Tuesday, Feb 21|
|US||0850 ET||Minneapolis Fed President Neel Kashkari (voter) participates in a discussion about the economy and the role of the Federal Reserve at a meeting of the Financial Planning Association of Minnesota in Golden Valley, MN.|
|0945 ET||Feb Markit manufacturing PMI expected -0.4 to 54.6, Jan +0.7 to 55.0. Feb Markit services PMI expected -0.1 to 55.5, Jan +1.7 to 55.6.|
|1100 ET||USDA weekly grain export inspections.|
|1200 ET||Philadelphia Fed President Patrick Harker (voter) speaks on the economic outlook at the Wharton School of the University of Pennsylvania.|
|1300 ET||Treasury auctions 2-year T-notes.|
|Deere & Co||DE US||Bf-mkt||Q1 2017 Earnings Release||Q1 2017||0.541|
|DENTSPLY SIRONA Inc||XRAY US||Bf-mkt||Q4 2016 Earnings Release||Q4 2016||0.65|
|Moody’s Corp||MCO US||Bf-mkt||Q4 2016 Earnings Release||Q4 2016||1.151|
|Fluor Corp||FLR US||Bf-mkt||Q4 2016 Earnings Release||Q4 2016||0.734|
|Spectra Energy Corp||SE US||Bf-mkt||Q4 2016 Earnings Release||Q4 2016||0.306|
|VF Corp||VFC US||6:55||Q4 2016 Earnings Release||Q4 2016||0.968|
|JM Smucker Co/The||SJM US||7:00||Q3 2017 Earnings Release||Q3 2017||2.006|
|Campbell Soup Co||CPB US||7:15||Q2 2017 Earnings Release||Q2 2017||0.879|
|JM Smucker Co/The||SJM US||8:00||Q3 2017 Earnings Call||Q3 2017|
|Hasbro Inc||HAS US||8:00||Investor Meeting||Y 2017|
|VF Corp||VFC US||8:30||Q4 2016 Earnings Call||Q4 2016|
|Campbell Soup Co||CPB US||9:00||Q2 2017 Earnings Call||Q2 2017|
|Fluor Corp||FLR US||9:00||Q4 2016 Earnings Call||Q4 2016|
|DENTSPLY SIRONA Inc||XRAY US||9:30||Q4 2016 Earnings Call||Q4 2016|
|Harman International||HAR US||Annual General Meeting – M&A Vote||Y 2017|
|Leucadia National Corp||LUK US||Q4 2016 Earnings Release||Q4 2016||0.23|
|Whole Foods Market Inc||WFM US||Annual General Meeting|
|Xcel Energy Inc||XEL US||Fixed Income Meeting||Y 2017|