Trading day in one post 06.09.2017

Overview of Asian Stock Markets: The sentiment of the Asian markets remained negative as investors continue to be cautious due to the situation in North Korea. Japan's Nikkei 225 declined by 0.22%. ASX 200 declined by 0.41% and Kospi declined by 0.38%. In China, Hang Seng Index fell by 1.03%. Shanghai Composite is down 0.28%, and Shenzhen Composite is also on red territory with a decline of 0.22%.

Currency market: Uncertainty around the United States and North Korea has a negative impact on the dollar. Yesterday Neel Kashkari said that interest rate rises could have harmed the economy, which also has a negative impact on the USD. It is likely that the decline will continue in the short term. The yen was among the strongest currencies in the Asian session, as market uncertainty persisted. It is currently trading around 108.71 against the dolalr and is only 1% of its highest price for the year. AUD is down against  its crosses after worse country GDP data. It is Currently traded at levels around 0.7979 against USD.

Commodity Markets: Oil has begun to recover from last week's fall after the Texas refineries that were shut down by Hurricane Harvey have begun work again. Currently it is traded at around $ 48.55 a barrel. All this has negatively affected the gasoline futures  which are trading down by 1.42% to $ 1.67 per gallon. Gold declined by less than 0.1% during the Asian session after it reached its highest price for the year yesterday. Uncertainty in the markets remains, and we can expect a new rise in precious metal. Currently it is traded at levels around $1337.87.

The European Stock Market: The moods before the opening of European markets seem mixed. In pre-market trade, the French CAC has a 3 point decrease, DAX has an 8 point rise and UKX has a 3 point increase.

US stock market: Markets tumble as Dow closes more than 200 points lower. U.S. equities fell on Tuesday, the first trading day of the week, as tension between North Korea and the West sent jitters down Wall Street. The Dow Jones industrial average recorded its biggest one-day drop since Aug. 17, falling 234.2 points to close at 21,753.31, with United Technologies and Goldman Sachs contributing the most to the losses. The S&P 500 pulled back 0.8 percent —its worst day since Aug. 17 — to 2,457.07, with financials posting their worst day since May 17. The Nasdaq composite declined 0.9 percent to close at 6,375.57 as shares of Apple, Amazon, Facebook and Alphabet all dropped.

Economic calendar:

09:00 - Germany - Factory orders

15:30 - USA - Trade Balance

15:30 - Canada - Import / Export

15:30 - Canada - Trade Balance

15:30 - Canada - Labor productivity

16:45 - USA - Services PMI

17:00 - USA - ISM Non-Manufacturing PMI

17:00 - Canada - Interest Rate Decision

21:00 - USA - Beige Book

US Equity Upgrades
• ALEXION (ALXN) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
• C.H. ROBINSON (CHRW) UPGRADED TO NEUTRAL FROM SELL AT UBS
• FORMULA ONE GROUP (FWONA) UPGRADED TO BUY FROM NEUTRAL AT CITI
• HORACE MANN (HMN) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT KEEFE BRUYETTE
• LULULEMON (LULU) UPGRADED TO POSITIVE FROM NEUTRAL AT SUSQUEHANNA
• MUELLER WATER (MWA) UPGRADED TO OUTPERFORM FROM NEUTRAL AT BOENNING & SCATTERGOOD
• NAUTILUS (NLS) RESUMED WITH A BUY FROM NEUTRAL AT B. RILEY
• NAVIENT (NAVI) UPGRADED TO BUY FROM NEUTRAL AT COMPASS POINT
• NMI HOLDINGS (NMIH) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT KEEFE BRUYETTE
• PATTERSON-UTI (PTEN) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
• PROLOGIS (PLG) UPGRADED TO BUY FROM HOLD AT SUNTRUST
• REPSOL (REPYY) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
• SKYWORKS (SWKS) UPGRADED TO BUY FROM SELL AT CITI
• TECH DATA (TECD) UPGRADED TO BUY FROM NEUTRAL AT NORTHCOAST
• U.S. Steel (X) upgraded to Buy from Neutral at BofA/Merrill
• XOMA (XOMA) UPGRADED TO OUTPERFORM FROM NEUTRAL AT WEDBUSH

US Equity Downgrades
• ALLISON TRANSMISSION (ALSN) DOWNGRADED TO SELL FROM HOLD AT DEUTSCHE BANK
• AVALONBAY (AVB) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
• CALUMET SPECIALTY (CLMT) PRODUCTS DOWNGRADED TO NEUTRAL FROM BUY AT JANNEY CAPITAL
• ROCKWELL COLLINS (ROC) DOWNGRADED TO NEUTRAL FROM BUY AT BUCKINGHAM
• TELEFONICA (TEF) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
• VIACOM (VIAB) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO

US Equity Initiations
• AKAMAI (AKAM) INITIATED WITH A NEUTRAL AT CREDIT SUISSE
• ALLISON TRANSMISSION (ALSN) INITIATED WITH A NEUTRAL AT BUCKINGHAM
• AUTOZONE (AZO) REINSTATED WITH A BUY AT BOFA/MERRILL
• BASIC ENERGY BAS) RESUMED WITH AN OUTPERFORM AT EVERCORE ISI
• CARLISLE (CSL) INITIATED WITH A BUY AT BUCKINGHAM
• CARTER'S (CRI) INITIATED WITH A BUY AT GOLDMAN SACHS
• CHECK POINT (CHKP) INITIATED WITH A NEUTRAL AT CREDIT SUISSE
• CMS (CMS) ENERGY INITIATED WITH A NEUTRAL AT GUGGENHEIM
• DOWDUPONT (DWDP) INITIATED WITH A BUY AT UBS
• DOWDUPONT (DWDP) INITIATED WITH A POSITIVE AT SUSQUEHANNA
• DOWDUPONT (DWDP) INITIATED WITH AN OUTPERFORM AT MACQUARIE
• ENERGY RECOVERY (ERII) INITIATED WITH AN OUTPERFORM AT JMP SECURITIES
• FLOOR & DECOR (FND) REINSTATED WITH A BUY AT BOFA/MERRILL
• FORTINET (FTNT) INITIATED WITH AN UNDERPERFORM AT CREDIT SUISSE
• HELIX ENERGY (HLX) INITIATED WITH A NEUTRAL AT BOFA/MERRILL
• HORTONWORKS (HDP) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
• KEY ENERGY (KEG) RESUMED WITH AN IN-LINE AT EVERCORE ISI
• LIGAND (LGND) ASSUMED WITH A BUY AT H.C. WAINWRIGHT
• LOWE'S (LOW) REINSTATED WITH A BUY AT BOFA/MERRILL
• LULULEMON (LULU) UPGRADED TO POSITIVE AT SUSQUEHANNA
• MERITOR (MTOR) INITIATED WITH A BUY AT BUCKINGHAM
• MICHAELS (MIK) REINSTATED WITH A BUY AT BOFA/MERRILL
• OFFICE DEPOT (ODP) REINSTATED WITH A BUY AT BOFA/MERRILL
• OLLIE'S BARGAIN OUTLET (OLLI) REINSTATED WITH A BUY AT BOFA/MERRILL
• ONEOK (OKE) REINSTATED WITH AN EQUAL WEIGHT AT BARCLAYS
• ORACLE (ORCL) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
• OWENS-ILLINOIS (OI) INITIATED WITH A NEUTRAL AT UBS
• PACCAR (PCAR) INITIATED WITH A NEUTRAL AT BUCKINGHAM
• PALO ALTO NETWORKS (PANW) INITIATED WITH AN UNDERPERFORM AT CREDIT SUISSE
• PALO ALTO NETWORKS (PANW) UPGRADED TO BUY FROM HOLD AT ARGUS
• RANGER ENERGY (RNGR) INITIATED WITH A SECTOR PERFORM AT SCOTIA HOWARD WEIL
• RANGER ENERGY (RNGR) INITIATED WITH AN EQUAL WEIGHT AT BARCLAYS
• RANGER ENERGY (RNGR) INITIATED WITH AN OUTPERFORM AT EVERCORE ISI
• RED HAT (RHT) INITIATED WITH A NEUTRAL AT CREDIT SUISSE
• RPC, INC. (RES) INITIATED WITH AN EQUAL WEIGHT AT BARCLAYS
• SANTANDER CONSUMER (SC) UPGRADED TO POSITIVE FROM NEUTRAL AT SUSQUEHANNA
• SERVICENOW (NOW) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
• SPLUNK (SPLK) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
• VMWARE (VMW) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
• WABCO (WBC) INITIATED WITH A NEUTRAL AT BUCKINGHAM
• YOGAWORKS (YOGA) INITIATED WITH A BUY AT GUGGENHEIM
• YOGAWORKS (YOGA) INITIATED WITH A BUY AT ROTH CAPITAL
• YOGAWORKS (YOGA) INITIATED WITH AN OUTPERFORM AT COWEN

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