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                                           Here's What You missed LAST Week                                                                                                           

                                                          CENTRAL BANKERS & RETAILERS WILL DOMINATE THE NEWS

November 13—17, 2017 Central Bankers have rarely spoken at so many venues, and even less frequently, jointly, at single events but they willl this week, culminating in a panel that boasts FOMC Chief Yellen, ECB Chief Draghi, BoJ Chief Kuroda, and BoE Chief Carney, at 11am (Frankfurt time) panelists at the ECB's Conference on Central Banlk Communication. They'll all be at different stages of boasting that their central bank medicine is working, Yellen & BoE's Carney likely to espouse the view that their recent rate rises should be followed by more increases.

Meantime, the Earnings Calendar is dominated by Retailers reporting, and they won't put forward the positive spin the central bankers weave. Even with the worst performing department stores out of this week's picture, having reported previously, the schedule dominated by the better performing TJMaxx,  Ross Dress For Less, and Walmart, slow growth remains the watchword, with Target and Walmart spending small fortunes to boost comparable sales into positive territory. It's obvious to us, though not at all within central bank conversation, yet, that the rise in sales on the internet has tremendously reduced inflationary fluctuations and may, in fact, have spelled the end of inflation, altogether. There's no greater price suppression than the "net," which is why the IMF Statistical Forum on Measuring the Digital Economy, includes the  panel, "Could Corrected Measusres of the Digital Economy Help Us Find the Missing Growth?" Yes, I'd answer, along with the reason inflation has been AWOL for so long.

Last week, the wobble we foresaw arrived on schedule. With no big news until the next earnings cycle, unless Congress passes the Republican's Tax Cut measures, stocks are left with a near guaranteed rate hike in December, and end of year, and the selling concurrent with leveling the books before the holidays. All in, upside will be tougher to manage, without positive news on the tax cut front, and that won't be a smooth ride. It's not just that the cuts favor corporations, which most consumers see as the "fat cats," it's the fact that eliminating local and state taxes will cause many in the middle class to pay substantially higher federal taxes under the Republican plan. Furthermore, the whole fight about lower the deductibility of mortgage interest to "only" $500K strikes another blow at people who are shopping for houses that cost substantially less than that--harder as they are to find, now. Expect more distance to be put in below the highs. It's become the November thing, because it didn't happen in September & October, as it usually does.  

ECONOMIC: (Highlights, only, below. Full International Economic Calendar includes links, here)
SUNDAY, 11/12
    OVERNIGHT into US Mon. a.m. et:
        World Economic Forum Annual Meeting on Global Future Councils (Dubai UAE)
        Japan Oct PPI + Domestic Corporate Goods Price Index
        Fed’s Harker on Balance Sheet Normalization @Global Independence Center Central Banking Series: Japan (Tokyo)
        ECB’s Constancio opens 20th
Euro Finance Week (Frankfurt DE thru 16th)

MONDAY, 11/13
US Q3 Mortgage Delinquencies & Foreclosures
US Treasury Auctions $42B 3-, & $36B 6-month Bills
Reuters Global Investment Outlook 2018 (NY, London, Hong Kong & Singapore)
BoJ’s Kuroda speaks (Zurich)
US Monthly Treasury Budget
    OVERNIGHT into US Tues a.m. et:
        China Oct Retail Sales, Fixed Asset Investments
, Industrial Production
        Fed’s Evans on "The Future of Odyssean & Delphic Guidance @ECB’s Central Bank Communications Conference (3:05am et) ECB’s Lautenschlaeger also speaks (Frankfurt)
        UK Oct CPI, Retail Price Index, PPI Input & Output, Sept House Price Index
        German ZEW Nov Economic Survey, Q3 (P) GDP, Oct CPI, Wholesale Price Index
        FOMC Chief Yellen on panel with ECB’s Draghi, BoJ’s Kuroda & BoE’s Carney @ECB Conference on
Central Bank Communication (11am local time Frankfurt, thru 15th) Other speakers at the conference are from BoC, GS, UniCredit, BIS, IMF, Brookings Institution, Reuters
        Eurozone (P) Q3 GDP

TUESDAY, 11/14
NFIB Small Business Nov Optimism Index
Fed’s Bullard on US Economy & Monetary Policy @Economic Update Breakfast w/Q&A from Ass’n for Corporate Growth & St Louis Federal Reserve (Lousiville KY 8:15am et)
ECB’s Coeure speaks at Brussels Conference
US Oct PPI—Final Demand
Redbook weekly Store Sales Snapshot
Fed’s Bostic speaks on Eco Outlook & Monetary Policy @35th Annual Business & Economic Forum Auburn Univ., Chamber of Commerce & Committee 100 (Montgomery AL)
Milken Institute Partnering for Cures (San Francisco)
     OVERNIGHT into US Wed. a.m. et:
         Japan Q3 (P) GDP, Domestic Consumption, Business Spending
         Fed’s Evans panelist on current conditions & monetary policy @UBS European Conference w/Q&A (London 3am et)
         UK Oct Jobless Claims/ILO Sept Unemployment Rate/Change/Hourly Earnings
        Eurozone Sept Unemployment Rate & Trade Balance
        ECB’s Praet & BoE’s Haldane speak @Central Bank Communications Event (Frankfurt)

WEDNESDAY, 11/15
MBA weekly Mortgage/Refinance Applications
US Oct CPI
US Oct Retail Sales
Canada/Teranet/National Bank Oct Home Price Index + Existing Home Sales
Empire State NY Fed Manufacturing Survey
NY Fed Exec V.P. Held speaks @Jt Meeting of the Administration & Banking Law Cmtes (NY)
US Sept Business Inventories
Dementia & Democracy: America’s Aging Judges & Politicians (Cambridge MA)
EIA weekly Petroleum/Gasoline/Distillates Stats (w/e 11/10)
BoC’s Dpty Gov Wilkins speaks @Money Marketeers of NYU (NY 5:30pm)
    OVERNIGHT into US Thurs. a.m. et:
        BoE’s Carney, Broadbent & Haldane
speak @
BoE’s Future Forum (a.m Session Liverpool) Future Forum Afternoon speakers: Carney, Cunliffe, Place, Ramsden
        French Q3 Unemployment Rate
        EU 25 Oct New Car Registrations
        UK Oct Retail Sales


THURSDAY, 11/16
U.S. weekly Jobless Claims
Philly Fed Current Conditions & Business Outlook
US Oct Import/Export Prices
Fed’s Mester, John B Taylor, Charles Plosser, Mickey Levy (Berenberg), Kevin Warsh speak at Cato Institute 35th Annual
Monetary Conference (D.C. 9:10am) John Taylor speaks later
IMF Statistical Forum—Measuring the Digital Economy "Could Corrected Measures of the Digital Economy Help Us Find the Missing Growth?" (D.C.)
US Oct Industrial Production/Capacity Utilization
NAHB Oct Housing Market Index

EIA weekly Natural Gas Report
Fed's Williams opens Fed Reserve Bk of San Francisco 2017 Asia Economic Policy Conference themed "Monetary Policy Challenges in a Changing Global Environment." (thru 17th)
US Treasury Auctions reopened $11B 10-year TIPS
Martin Feldstein, Mickey Levy (Berenberg), & Kevin Warsh share panel @Cato Institute on "Normalizing Monetary Policy"
Fed Gov Brainard
keynotes FinTech Risks & Opportunities: An Interdisciplinary Approach @Jt U.M. Law School + US Treasury Dept Office of Financial Research (3:45pm Ann Arbor MI thru 17th)
    OVERNIGHT into US Fri. a.m. et:
         ECB's Constancio
speaks (Ottawa Canada)
         ECB’s Draghi+Bundesbank’s Weidmann
speak at Banking Conference (Frankfurt)

FRIDAY, 11/17:
US Oct Housing Starts/Building Permits

Canada Oct CPI
K.C. Fed Manufacturing Index
Baker-Hughes weekly US/North American Rig Count (1pm et)
US Office of Financial Research Dir. Richard Berner Closes U.M. FinTech Conf (3pm)
Fed’s Williams speaks with reporters

SATURDAY, 11/18
China Oct Property Prices


EARNINGS: (We no longer separate pre-market from post market releases because it was just too burdensome to do. We ignore "the" in a company name unless it’s integral to the ticker, which is rare. We embolden those tickers we expect to attract the most attention.)

MONDAY, 11/13: WUBA, AGRO, ACM, AKER, USAS, ABY, LIFE, CASI, DHT, DLNG, MRAM, DAVE, FCSC, FTEO, GNUS, HOLI, JD, JNCE, LUNA, MAMS, MTNB, MSEO, MPO, MPVD, MYOV, NMM, NVCN, PAM, TEUM, PBR, FENG, PRQR, SSC, SLNO, STDY, TEO, TST, TSN, XBIO

TUESDAY, 11/14: AAP, ARA, AMRS, APTO, ARMK, AST, BZH, BKYI, CATS, CDTI, CIG, DQ, DRIO, DKS, ESDI, ENSV, ENZY, EROS, ESE, EVOK, FGL, FOMX, GFF, HD, IGT, ISR, JKS, KLIC, LIQT, MTSI, MGIC, MDLY, MBT, NEPT, OCX, QRHC, REXX, ROSE, SNMP, SMI, SRAX, SORL, SSYS, SUNW, SYNC, TJX, URGN, VBLT, WPRT, YRD, YY

WEDNESDAY, 11/15: PLCE, CSCO
, EDAP, HI, HMLP, JASO, KMDA, LB, LTM, MTOR, NTAP, NTES, NXTD, PERY, SBH, SFS, SR, TGT, STKS, VRS, XGTI

THURSDAY, 11/16: CRMT, AMAT, BERY, BBY, BRC, CATO, CORI, GPS, HP, SJM, KTEC, MANU, MATW, NGVC, POST, QIWI, ROST, STNG, SCVL, SPB, SPLK, SSI, SYPR, VIA, WMT, WSM

FRIDAY, 11/17: ANF, BKE, DXLG, EHIC, SFUN, FL, HIBB, LXFT

EVENTS:
CONTINUING SUNDAY 11/12
AAO/APAO Ophthalmology Annual (New Orleans LA thru 14th)
Am. Heart Ass’n Scientific Sessions (Anaheim CA thru 14th)
ADDF (Alzheimer’s Drug Discovery Foundation) Exhibit at SFN (Washington DC thru 15th)
SFN Society for Neuroscience 2017—New Ways to Study the Brain (Washington DC thru 15th)
AAD Hands on Cosmetic Dermatology (Chicago IL)
SITC Society for Immunotherapy of Cancer (Nat’l Harbor MD)
51st Annual Felaban Assembly (LatAm bankers –Miami FL thru 14th)
Credit Suisse Entrepreneur Trip to India (thru 11/20)

STARTING SUNDAY 11/12
EEI/AGA Executive Fall Accounting
Summit (Miami FL thru 15th)
AH&LA @HX –Hotel Experience (NY thru 13th)
129th NARUC Annual Meeting (Baltimore MD thru 15th)
AAPS Pharmaceutical Scientists (San Diego CA thru 15th)
ABA National Agricultural Bankers Conference (Milwaukee WI thru 15th)
SC Supercomputing (Denver CO thru 11/16)
48th AAGL Congress on Minimally Invasive Gynecology (D.C. thru 16th)
CAHF California Health Facilities Convention/Expo (Palm Springs CA thru 15th)
EORTC Children’s European Leukemia Group Meeting (Rome Italy thru 13th)
Dubai Air Show (Dubai UAE thru 16th)

MONDAY, 11/13
UBS Global Technology Conference (San Francisco CA thru 15th)
NRF NCCR (Nat’l Council of Chain Restaurants) Annual + Privacy Meeting (DC thru 16th)
IEEE Int’l 5G Automotive Summit (Santa Clara CA thru 16th)
Blockchain for Gov’t & Federal Contractors Federal Market Forecast/Conf (Arlington VA)
CME Group (CME) 10th Annual Global Financial Leadership Conference (Naples FL thru 15th)
B Riley & FBR Meetings at NAREIT’s REITWorld (Dallas)
ICCAD Computer-Aided Design (Irvine CA thru 16th)
Barclays Women in Business Forum (NY thru 14th)
NYAS Antibody-Drug Conjugates: Oncology & Beyond (NY)
CFRA Current Financial Reporting Issues Conference (NY thru 14th)
Goldman Sachs 9th Annual CEEMA 1x1 Conference (London thru 14th)
Superbugs & Superdrugs: A focus on Antibacterials (London thru 14th)
Nomura Shinka Autumn Japanese Corporate Day (London thru 14th)
AMOA Amusement Attraction Operators Ass’n (Orlando FL thru 17th)
UBS Australasia Conference (Sydney Australia thru 14th)
JPMorgan Global TMT Conference in Asia (Hong Kong)
MEDICA Live (Dusseldorf Germany thru 16th)
8th World Orphan Drug Congress (Barcelona Spain thru 15th)
Macquarie Childcare Industry Forum (Sydney Australia)
BAC/MER MENA Conference (Dubai UAE thru 15th)
CLSA India Forum (Gurgaon India thru 15th)
QCon Int’l Software Development Conference/Workshops (San Francisco thru 17th)
AerCap Holdings NV (AER) Investor Day (NY)
Cleveland-Cliffs Inc (CLF) marketing with B Riley (Chicago)
FICO (FICO) World: The Decisions Conference (Austin TX thru 17th)
FTI Consulting (FCN) Investor Day (10am et)
GE (GE) Analyst Meeting with new CEO/CB John Flannery
Meta Financial Group (CASH) marketing with B Riley (Boston & NY)
PacWest Bancorp (PACW) Marketing with Stephens (Dallas, Houston)
Rockwell (ROK) Process Solutions Users & Automation Fair (Houston TX thru 14th)
SAP (SAP) TechEd (Barcelona Spain thru 16th)
Travelers (TRV) Investor Relations (9:30am et)

TUESDAY, 11/14
Morgan Stanley Global Chemicals & Agriculture Conference (Boston MA thru 15th)
Goldman Sachs Industrials Conference (Boston MA thru 15th)
JPM Ultimate Services Investor Conference (NY)
Citi NAREIT REITWeek 2017 (Dallas TX thru 15th)
Bernstein Healthcare Services Disruptors Conference (Boston)
BAC/MER Future of Financials Conference (NY thru 15th)
Stifel Healthcare Conference (NY thru 15th)
Needham & Co Networking & Security Conference (NY)
NAREIT’s REITWeek Annual Convention (Dallas TX thru 16th)
Credit Suisse 4th Annual Homebuilding & Building Products Conference (NY)
13th Annual Personalized Medicine Conference (Boston MA thru 16th)
NAFCD + NBMDA Annual (builders & building products distributors) Convention (Colorado Springs CO thru 16th)
NYAS Antibody Drug Conjugates: Oncology & Beyond (NY)
FirstEnergy Energy Growth Conference (Toronto Ont Canada thru 15th)
UBS European Conference (London thru 15th)
RBC Capital Senior Gold Conference (London)
RBC TMT Deep Dive Conference (Toronto)
Wolfe Research Global Quantitative & Macro Investment Conference (NY)
Wolfe Research 2017 Tax Policy Lunch hosted by Chris Senyek
Bradesco 7th BBI Annual CEO Forum (NY thru 15th)
SAE Range Extenders for Electric Vehicles Symposium (Detroit MI thru 15th)
DigiWORLD & Game Summit Europe (Montpellier France thru 16th)
OIDA Funding Accelerator Speed Mtgs +OSA Illumination Optics Incubator (D.C. thru 17th)
Billboard Touring Conference & Awards (Beverly Hills CA thru 15th)
Deutsche Bank dbAccess MENA Healthcare Conference (Dubai)
TV in the Cloud + CDN World Summit (London thru 16th)
BioCentury China Healthcare Summit (Shanghai China thru 15th)
ACI Worldwide (ACIW) Analyst Day (8:30am et)
Autodesk (ADSK) University (Las Vegas thru 16th)
enPro Industries Inc (NPO) marketing with B Riley (Toronto & Boston)
Ingredion (INGR) Inc Analyst Day (8am ct)
Ligand Pharmaceuticals (LGND) Analyst Day (5:30pm est)
PacWest Bancorp (PACW) marketing with Stephens (Kansas City)
Charles Schwab (SCHW) IMPACT (Chicago thru 17th)
Talend (TLND) Analyst Day (9am et)

WEDNESDAY, 11/15
Goldman Sachs 2017 Industrials Conference (NY)
UBS Industrials & Transportation Conference (NY thru 16th)
Barclays Global Automotive Conference (NY thru 16th)
Goldman Sachs Global Natural Resources (London thru 16th)
RBC Capital Markets Midstream (formerly MLP) Conference (Dallas thru 16th)
Sandler O’Neill Partners East Coast Financial Services Conference (Naples FL thru 17th)
MoffettNathanson Software Forum (San Francisco CA)
Hart Energy DUG Eagle Ford (San Antonio TX thru 17th)
3rd ROTH Technology Corporate Access Day (NY)
Distributed Solar Summit (Los Angeles CA thru 17th)
Three Part Advisors Southwest IDEAS Conference (Dallas TX thru 16th)
Building Industry Show (Costa Mesa CA thru 16th)
Society for Neuro-Oncology Annual (San Francisco)
CSIA Executive Collaborative Robots, Robot Safety + Advanced Vision Conference (Boston thru 16th IDTechEx Show: Printed Electronics USA, Electric Vehicles +co-Located Energy Harvesting Storage & Graphene LIVE & Sensors & Wearable (Santa Clara CA thru 16th)
Jefferies London Healthcare Conference (London thru 16th)
Citi 2017 Chile Conference (Santiago Chile)
Morgan Stanley European TMT Conference (Barcelona Spain thru 17th)
Morgan Stanley 16th Annual Asia Pacific Summit (Singapore)
World Preclinical Congress (Lisbon Portugal thru 17th)
BAC/MER MENA Conference (Dubai thru 16th)
Credit Suisse Entrepreneurs Fact Finding Mission (Philippines & Cambodia thru 26th)
MiSK Global Forum (Riyadh Saudi Arabia thru 16th)
UBS India Conference (Mumbai India thru 17th)
CA (CA) World Financial Analyst Track (Las Vegas)
IBM (IBM) CEO Rometty speaks @Econommic Club of NY (NY)
IBM (IBM) Engineering for the Internet of Things (New Orleans LA thru 17th)
Intuit (INTU) Quickbooks Connect (San Jose CA thru 17th)
Limelight Networks (LLNW) Investor Meetings (Atlanta)
Nautilus Inc (NLS) marketing on the West Coast with B Riley & Co
Newtek Business Services (NEWT) Analyst/Investor Day (9:15am et)
Vanguard Shareholder Meeting (Scottsdale AZ)

THURSDAY, 11/16
BAC/MER Global Energy Conference (Miami FL thru 17th)
William Blair Financial Technology & Services Summit (Boston)
NYU Schack Institute 48th Capital Markets in Real Estate (NY)
MKM Partners Entertainment, Leisure & Consumer Technology Conf. (NY)
7th Annual Needham & Co SaaS 1x1 Conference (NY)
Stephens Healthcare Services Field Trip to ADUS, HLTH, CSU (Dallas)
Deutsche Bank Lithium Supply Chain & Energy Storage Conference (NY)
GMP Securities Montreal Energy 1x1 Symposium (Montreal QC Canada)
Stephens Restaurant/Consumer Investor Trip to CHUY, PLAY, DF, WING (Dallas)
8th Annual Craig-Hallum Alpha Select Conference (NY)
2017 Headache Symposium (Phoenix AZ thru 19th)
UBS Global Hedge Fund Conference (London)
RBC Fund & Corporate Services Forum (London)
Deutsche Bank dbAccess Japan Conference (London thru 17th)
Morgan Stanley European TMT Conference (Barcelona Spain thru 17th)
Macquarie India Conference (Mumbai India thru 17th)
Nomura Asian High Yield Corporate Day (Hong Kong thru 17th)
Bayer Health FDA to review its NDA 209367 for cirpofloxacin inhalation powder for reduction of non-cystic fibrosis bronchiectasis in adult patients
CalAmp Corp (CAMP) marketing w/B Riley (Dallas)
Coca-Cola Company (KO) Investor Day
Dunkin Donuts (DNKN) webcast to discuss FASB impact of ASC606 in January 2018 to reconcile US GAAP & Int’l Accounting (IFRS) Rules on revenue recognition
*Liberty Interactive (LVNTA) Investor Meeting (9:10am et)
*Liberty Media Corp (LSXMA) Investor Meeting (1pm et)
Quaker Chemical Corp (KWR) marketing w/B Riley (NY)
RH (RH) West Palm Beach Investor Day (2pm et)
Rockwell Automation (ROK) Investor Meeting (1pm cst)
splunk>live! (SPLK) Conference (Dallas)
Starwood Property Trust Inc (STWD) marketing with B Riley (Charlotte NC)
Tesla (TSLA) debuting its electric truck (8pm pt)
Voyager Therapeutics (VYGR) R&D Day (2pm et)
17th Latin Grammy Awards (Univision TV & Radio 8pm)

FRIDAY, 11/17
CanaccordGenuity Medical Technology & Diagnostics Forum (NY)
22nd Perspectives in Thoracic Oncology @Int’l Congress on Hematology (NY thru 18th)
e-Cigs Summit (London)
CME Group (CME) Tour Championship (Naples FL thru 20th)
Crane Company (CR) Management meets with Wolfe Research Clients (Stamford CT)
EA (EA) releases "Star Wars Battlefront II" for PS4 & Xbox, Xbox One & Origin
MOVIES OPENING: "Justice League," starring Ben Affleck, Gal Gadot, Jason Momoa, Ezra Miller Robin Wright, Amy Adams, Henry Cavill, Diane Lane, Jeremy Irons, Diane Lane, Billy Crudup, J.K. Simmons via Warner Bros (TWX), who couldn’t possibly have stuffed the cast with any more stars if it tried. "WONDER," based on a NY Times bestseller, with Julia Roberts, Owen Wilson, Mandy Patinkin, distributed by Lionsgate (LGF.A). "Roman J. Israel Esq" starring Denzel Washington, Colin Farrell, via Sony Pictures (SNE). "The Star," an animated first Christmas story with voices of Steven Heun, Kristin Chenoweth, Zachary Levi, Gina Rodriguez, Tyler Perry, Christopher Plummer, Keegan-Michael Key, Patrician Heaton, Kris Kristofferson, Ving Rhames, Mariah Carey, Oprah Winfrey, from Sony Pictures Animation (SNE). "Mudbound" with Carey Muliggan, Garrett Hedlund, Jason Clarke, Jonathan Banks, Mary J Blige, directed & co-written by Dee Rees (Pariah) from a novel by Hillary Jordan, to undergo limited release in theaters, via Netflix (NFLX).    EARLIER 2017 COMMENTS HERE

Sandi Lynne 2017 Nothing contained in this commentary should be construed as a recommendation to buy or sell any security. The opinions expressed are the author’s alone, and should be just one factor in more complete due diligence.

                                                                           Enjoy last week's highlights. I'm retired, now, and prepare what I like, when I want,

Regards
  Sandi Lynne

       (c) 1998--2017 Sandi Lynne