From: Ike Groff Subject: Early Tour 9.25.14 Date: Thu, 25 Sep 2014 09:51:24 +0000 Inline-Images: image001.jpg: image002.png u,:pescription: Description: Good Morning ... European Markets up 20-90 bps (UK -0.13%, Greece +1.42%)... NKY +1.28%, SHCOMP +0.07%, HSI -0.64%, KOSPI -0.08%, TWSE -0.96%, ASX +0.12% EUR 1.2733 (-0.37%) JPY 109.26 (-0.20%) EUR/JPY 139.12 (-0.17%) AUD -0.87% NZD -1.49% RUB -0.71% US 10yr 2.555% Futures: Dow -3, Nasdaq -2, -1 DXY $85.33 (+29c) Crude $92.68 (-12c) Gold $1211.00 (-$8.50) Copper -0.64% Silver -0.92% Nat Gas -1.20% Asia markets mostly higher overnight with Japan leading as the JPY moved back > 109 level. The Nikkei finished at a new six year high as the currency helped give a boost to the exporters. Most of Japan goes ex-dividend tomorrow. Shanghai was firmer (hitting 19 months highs) on combination of the WSJ's PBOC speculation and retail actively buying on back of yesterday's new account opening stats. Both China and Hong Kong sold off mid-morning on reports that SAFE found almost $10 billion of fraudulent exports and said it will severely punish parties involved in the Qingdao fake trade issue. The SHCOMP did bounce slightly to close slightly positive but the HSI closed on the lows. Casinos underperformed on more bearish sell-side commentary. Taiwan underperformed as the TAIEX collapsed and dipped below the psychological 9,000 support to 4-month lows as Apple plays traded lower. European markets are rebounding today up 20-90 bps in general. In retail, is trading -3.5% on weaker gross margins. Nike reports today after the close in the US. Rosh Hashanah holiday today and tomorrow. SPA's off small = 1990.30 last. "'Jobless Claims / Durable Goods @ 8:30am, Markit US Services & Composite PMIs*** mSCHL reports before the open, MU & NKE report after the close today"' • Jabil Circuit swung to a loss but beat and raised outlook driven by Apple (trading +5%) • H.B. Fuller O3 earnings missed (gm's light) & s