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THE U.S. DAYBOOK: U.S. DAYBOOK & OVERNIGHT: CenturyLink, Tesla; Lennar Earnings

(Bloomberg) — European stocks are little changed after rising for eight sessions in a row, while cyclical sectors such as mining and banks add to recent gains. U.S. stock-index futures also little changed, Asian shares advance. The dollar rises for a second day. Manufacturing data, Lennar earnings due later. U.S. MARKETS:

  • S&P 500 futures up 0.06% to 2,527.75
  • Brent Futures up 0.04% to $56.14/bbl
  • Gold spot down 0.01% to $1,270.96
  • U.S. Dollar Index up 0.1% to 93.65

WHAT TO WATCH:

  • TOP OVERNIGHT NEWS:
    • White House Rules Out North Korea Talks After Tillerson Remarks
    • Tesla Falters With Model 3 as Initial Output Trails Forecast
    • Qatar Fund Is Said to Weigh Asset Sales as It Looks Homeward
    • CenturyLink Wins U.S. Antitrust Approval to Buy Level 3
    • Equifax Says Additional 2.5m U.S. Consumers Potentially Impacted
    • Shell Saidni to Seek Sale of Stake in $1.4 Billion Wind Farm
    • Refresco Gets $1.9 Billion Takeover Bid From PAI Partners
    • Irish Said to Face Rebuke for Slow Recovery of Apple Cash
    • Conaway Says He Anticipates Tech Cos. to Accept Hearing Invites
    • Altria: Court-Ordered TV,Newspaper Ads on Smoking to Start Nov 26
    • U.S. Is Said to Weigh Further Wells Fargo Sanction: Reuters
    • FSOC Releases Justification for Ending AIG’s SIFI Designation
    • Lake Charles LNG Operational Date Pushed Back One Year
    • Waymo Seeks Uber Trial Delay to Dig Deeper Into New Evidence
    • Australia Selects Lockheed Martin’s Aegis System for Frigates
    • Vegas Shooting Seen Slowing NRA-Backed Gun Legislation: Politico
    • Nordstrom Is Said to Turn Down Commitments From Lenders: NYP
    • Saudi Arabia Is Said to Plan Russia Deals, Deepening Energy Ties
    • Fannie-Freddie Regulator Used U.S. Resources on Personal Travel
    • White House Accused of ‘Softness’ as Tax Plan Hits Early Bumps
  • ANALYST ACTIONS
    • (ASTE): Astec Industries Raised to Outperform at Baird, PT $65
    • (AYI): Acuity Brands Raised to Market Perform at JMP
    • (BJRI): BJ’s Restaurants New Hold at Stifel, PT $32
    • (BOJA): Bojangles’ New Hold at Stifel, PT $16
    • (BREW): Craft Brew Alliance New Positive at Susquehanna, PT $22
    • (BWLD): Buffalo Wild Wings New Hold at Stifel, PT $115
    • (CCO CN): Cameco Cut to Sector Underperform at Scotiabank, PT C$10
    • (CFW CN): Calfrac Well Services Raised to Buy at Cormark, PT C$7
    • (CHRW): C.H. Robinson Cut to Market Perform at BMO, PT $77
    • (CHUY): Chuy’s Holdings New Hold at Stifel, PT $23
    • (CMG): Chipotle New Hold at Stifel, PT $345
    • (CRC): California Resources New In-line at Imperial, PT $12
    • (CRM): ExactTarget LLC New Buy at Buckingham, PT $36
    • (CZZ): Cosan Ltd Raised to Buy at Nau Securities, PT $10
    • (DNR): Denbury Resources New In-line at Imperial, PT $2
    • (DPZ): Domino’s New Buy at Stifel, PT $235
    • (DRI): Darden New Buy at Stifel, PT $92
    • (EAT): Brinker New Hold at Stifel, PT $36
    • (FIZZ): National Beverage New Neutral at Susquehanna, PT $135
    • (FRPT): Freshpet New Neutral at Susquehanna, PT $15
    • (FWONA): Liberty-Formula One New Neutral at JPMorgan, PT $38
    • (HD): Home Depot New Buy at Gordon Haskett, PT $189
    • (JACK): Jack in the Box New Hold at Stifel, PT $105
    • (LOGM): LogMeIn Raised to Outperform at Baird, PT $130
    • (LOW): Lowe’s New Accumulate at Gordon Haskett, PT $88
    • (MCD): McDonald’s New Hold at Stifel, PT $160
    • (MMX CN): Maverix Metals New Outperform at National Bank, PT C$2.10
    • (MSA): MSA Safety Cut to Neutral at Baird, PT $80
    • (NOG): Northern Oil and Gas New In-line at Imperial, PT $1
    • (PJC/A CN): Jean Coutu Raised to Equal-weight at Barclays, PT C$24
    • (PZZA): Papa John’s New Hold at Stifel, PT $65
    • (REXX): Rex Energy Cut to Sector Perform at RBC, PT $3
    • (RRGB): Red Robin New Hold at Stifel, PT $62
    • (SCMP): Sucampo Cut to Neutral at Mizuho, PT $12
    • (TRAK CN): Lateral Gold New Speculative Buy at Echelon Wealth, PT C$1.50
    • (TXRH): Texas Roadhouse New Buy at Stifel, PT $55
    • (WDO CN): Wesdome Gold Mines Raised to Outperform at National Bank, PT C$4
    • (WEN): Wendy’s New Buy at Stifel, PT $18
    • (WING): Wingstop New Hold at Stifel, PT $35
    • (WST): West Pharma New Equal-weight at Stephens, PT $99
    • (YUM): Yum New Buy at Stifel, PT $88

EARNINGS: (All ests. EPS. All times ET) Previews here

  • PRE-MKT
    • AZZ (AZZ US) 6:30am 44c
    • Lennar (LEN US) 6am $1.00
    • Paychex (PAYX US) 8:30am 60c
  • POST-MKT
    • Novagold Resources (NG CN) 5:22pm (3c)

GOVERNMENT:

  • Government Agenda

ECONOMIC DATA (All times ET):

  • Wards Total Vehicle Sales, est. 17.2m, prior 16m
  • Wards Domestic Vehicle Sales, est. 13m, prior 12.5m

CENTRAL BANKS (All times ET):

  • Nothing major scheduled

CORPORATE EVENTS:

  • Extraordinary Shareholders Meeting: AHT US, BLD US, DHI US, F US, FOR US, INTU US, PG US, SHW US, SWX US, TDS US
  • Other Events: AHT US, BLD US, F US, FOR US, INTU US, PG US, SHW US, SWX US, TDS US
  • Sales Results: F US
  • Other/M&A: CSL US

CONFERENCES:

  • Bank of America Merrill Lynch Building & Infrastructure Conference: SUM US
  • Deutsche Bank Leveraged Finance Conference: PRTY US
  • Deutsche Bank U.S. Leveraged Finance Conference: AMKR US, BGS US, BLL US, BYD US, CLMT US, CLW US, CPE US, CSTM US, EGL US, GFF US, KEM US, LAUR US, LGF/A US, MDCA US, MSCC US, NAV US, NXST US, OUT US, RHP US, SBGI US, SPB US, STAY US
  • European Utility Week Conference: NXPI US
  • Global Gaming Conference – Panel: 328245Z US, AGYS US, MGM US
  • Helitech International Conference: COL US
  • IPAA Oil & Gas Investment Symposium: PDCE US
  • Japan Pack Trade Show: NDSN US
  • NetApp Insight Investor Summit: NTAP US
  • Oil & Gas Investment Symposium: CHPE US

BLOOMBERG TV SCHEDULE:

  • 04:07 Richard Turnill (Global Chief Investment Strategist) BlackRock
  • 04:30 Willem Sels (Chief Market Strategist) HSBC
  • 05:00 James Bevan (CIO) CCLA Investment Management
  • 06:00 John Normand (Head of currencies, commodities and internation…) JPMorgan Chase
  • 06:30 Brian Wieser (Senior Research Analyst) Pivotal Research
  • 07:00 Robert Sinche (Global Strategist) Amherst Pierpont Securities LLC
  • 07:00 Laura Rosner (Senior Economist.) macro policy perspectives
  • 07:40 Margaret Gage “Maggie” (Director) Credit Suisse Securities USA LLC
  • 08:00 Michael Shaoul (Chairman/CEO/Portfolio Manager) Marketfield Asset Management LLC
  • 08:20 Janice D Schakowsky (Illinois Congresswoman (D)) (US)House of Representatives
  • 08:40 Brad Setser (Senior Fellow) Council on Foreign Relations/NY
  • 09:00 Michael Purves (Chief Global Strategist/Head:Equity Derivatives Strategy) Weeden & Co LP
  • 09:38 Scott Keogh (President) Audi of America Inc
  • 09:40 James Albertine (Senior Analyst:Autos) Consumer Edge Research LLC
  • 10:00 Larry Fink (Chairman/CEO) BlackRock Financial Mgmt Inc
  • 10:15 Joseph Cusick (Senior Market Analyst) Optionsxpress Holdings Inc
  • 11:30 Mark Wiedman (Senior Mng Dir/Global Head:iShares) BlackRock Inc
  • 11:40 Matthew R Shay “Matt” (President/CEO) Natl Retail Federation
  • 12:10 James E Millstein (CEO/Founder) Millstein & Co LP
  • 12:50 Jonathan Neman (Co-CEO/Co-Founder) Sweetgreen Inc
  • 13:00 Libby Cantrill (Exec VP/Head:Public Policy) Pacific Investment Mgmt Co
  • 13:45 William E McGlashan Jr “Bill” (CO- Founder) TPG Growth LLC (PE General Partner)
  • 14:30 Richie Prager (Senior Mng Dir/Head:Trading, Liquidity) BlackRock Financial Management Inc
  • 15:30 Daniel Solender (Partner/Portfolio Mgr/Head:Municipals) Lord Abbett & Co LLC
  • 15:45 Neil Dutta (Head:US Economics) Renaissance Macro Research LLC
  • 16:00 Jeremy Siegel (Professor:Finance) Wharton School of the University of Pennsylvania
  • 16:30 Robert Edward Latta “Bob” (Ohio Congressman (R)) (US)House of Representatives
  • 17:30 David M Zaslav (President/CEO) Discovery Communications Inc
  • 17:30 Walter S Isaacson (President/CEO) Aspen Institute Inc/The
  • 23:00 William E McGlashan Jr “Bill” (CO-Founder) TPG Growth LLC (PE General Partner)

OTHER EUROPEAN NEWS SINCE THE U.S. CLOSE:

  • Ryanair Adds Fewest Customers Since March After Scrapped Flights
  • Spain’s Crisis Deepens as Catalonia Secession Clock Ticks Down
  • May’s Brexit Budget Offer Is Said to Be Conditional on Trade
  • EU Demands More U.K. Brexit Clarity Before Approving Trade Talks
  • U.K. Construction Unexpectedly Shrinks as Confidence Weakens
  • UBS Starts French JV for Family Office, Private Equity
  • Uber’s New CEO Flies to London to Fight One of Many Fires

EUROPEAN ECO DATA (All times ET):

  • 3am: (SP) Sept. Unemployment MoM Net (’000s), actual 27.9, est. 21.5, prior 46.4
  • 4:30am: (UK) Sept. Markit/CIPS UK Construction PMI, actual 48.1, est. 51.1, prior 51.1

WHAT HAPPENED IN EUROPEAN MARKETS:

  • STOXX Europe 600 unchanged at 390.12
  • German 10Y yield rose 3.4 bps to 0.485%
  • Euro up 0.08% to $1.1742
  • Brent Futures up 0.04% to $56.14/bbl
  • Italian 10Y yield rose 4.5 bps to 1.863%
  • Spanish 10Y yield rose 1.7 bps to 1.711%

OTHER ASIA NEWS SINCE THE U.S. CLOSE:

  • Anil Ambani’s Telecom Unit Heads for Record Low as Merger Fails
  • Kansai Electric Bellwether for Koike’s ‘Party of Hope’
  • China Stock Rally Finds a New Gear as Shares Soar Most in a Year
  • Offshore Yuan Near Seven-Week Low Amid Holidays, Dollar Strength
  • Mobike, Ofo Investors Are Said in Talks to Merge China Startups
  • Steel Boom Drives 400% Surge for Suppliers of Critical Niche
  • India Bond-Related Flows Keeping Rupee Losses in Check: Traders
  • Japan’s Corporate Foreign Bond Issuance Hits Record on M&A
  • Japan Shares Set Fresh Two-Year Highs as U.S. Data Spur Optimism

ASIAN ECO DATA (All times ET):

  • 1am: (IN) Sept. Nikkei India PMI Mfg, actual 51.2, prior 51.2
  • 1:30am: (AU) Sept. Commodity Index AUD, actual 120.8, prior 120.2, revised 120.8
  • 1:30am: (AU) Sept. Commodity Index SDR YoY, actual 18.3%, prior 20.1%, revised 20.8%
  • 4:30am: (HK) Aug. Retail Sales Value YoY, actual 2.7%, est. 3.5%, prior 4.0%
  • 8:30pm: (JN) Sept. Nikkei Japan PMI Services, prior 51.6
  • 8:30pm: (JN) Sept. Nikkei Japan PMI Composite, prior 51.9

WHAT HAPPENED IN ASIAN MARKETS:

  • MXAP up 0.5% to 162.19
  • MXAPJ up 0.6% to 534.62
  • Nikkei up 1.1% to 20,614.07
  • Topix up 0.7% to 1,684.46
  • Hang Seng Index up 2.3% to 28,173.21
  • Shanghai Composite up 0.3% to 3,348.94
  • Sensex up 0.6% to 31,483.30
  • Australia S&P/ASX 200 down 0.5% to 5,701.44
  • Kospi up 0.9% to 2,394.47

To contact the reporter on this story: Chiara Remondini in Milan at cremondini@bloomberg.net Brian Lysaght

About Makkaba Co., Ltd.

Makkaba Co., Ltd.

Hotline: (+84)(0) 904935786; Tel.: (+84) (0)28.35208726
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