TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)


click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $1,960.00 dollars or +19.60 points, Emini ES ($ES_F) futures @ $0.00 dollars or +00.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,960.00 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=136&t=1936


Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Price Action Analysis via WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=250&t=2561

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.


click on the above image to view today's price action of key markets

4:10 pm: [BRIEFING.COM] The stock market began the new trading week on an unassuming note. The S&P 500 (+0.1%) added just over a point while the Nasdaq (-0.4%) and Russell 2000 (-0.8%) underperformed throughout the session.

The benchmark index started under modest pressure, but was able to finish near its best level of day with help from countercyclical sectors. News from overseas contributed to the early weakness as Japan's preliminary GDP report for Q3 revealed the second consecutive decline (-0.4%; expected 0.5%), meaning the country is now in recession. The news gave an overnight boost to the yen, but the currency was back to unchanged against the dollar (116.20) by the start of the U.S. session. The yen weakened a bit during the session, sending the dollar/yen pair to 116.50.

Although the S&P 500 started in the red, the index was back near its flat line in the first hour with help from comments made by European Central Bank President Mario Draghi. Mr. Draghi appeared in front of a European parliamentary committee and provided another reminder that the ECB stands ready to act if downside risks continue mounting.

The combination of Mr. Draghi's comments and the relative strength in countercyclical sectors kept the S&P 500 from dipping too far into the red. However, the index never climbed too far above its flat line either with participants reluctant to take on additional risk after an 11.2% rally over the past month. Below-average participation spoke to the cautious posture as fewer than 675 million shares changed hands at the NYSE floor.

As mentioned earlier, countercyclical sectors displayed strength with consumer staples (+0.6%), health care (+0.5%), and utilities (+1.3%) registering solid gains while the telecom services sector (-0.2%) underperformed.

The staples sector rallied behind Tyson Foods (TSN 43.01, +2.35), which spiked 5.8% in reaction to a bottom-line beat. Elsewhere, health care was underpinned by news indicating Actavis (ACT 247.94, +4.17) agreed to acquire Allergan (AGN 209.20, +10.55) for $219/share in cash and stock. Biotechnology displayed intraday strength, but the iShares Nasdaq Biotechnology ETF (IBB 288.84, +0.67) narrowed its gain to 0.2% by the close.

M&A activity was not isolated to the health care sector as Halliburton (HAL 49.23, -5.85) agreed to acquire Baker Hughes (BHI 65.23, +5.34) for $78.62/share, representing a 40.8% premium to BHI's price on October 10 before the initial offer was made. As for energy, the sector narrowed its loss to 0.4%, but still ended at the bottom of the leaderboard. Crude oil registered another decline, sliding 0.3% to $75.61/bbl.

The remaining growth-sensitive sectors settled closer to their flat lines, but the relative weakness among chipmakers kept the Nasdaq in the red throughout the session. The PHLX Semiconductor Index lost 0.5% while the technology sector shed 0.2%.

Treasuries ended near their lows with the 10-yr higher by a basis point at 2.33%.

Tomorrow, October PPI (Briefing.com consensus -0.2%) will be released at 8:30 ET while the NAHB Housing Market Index for November (consensus 55) will cross the wires at 10:00 ET.
Related Stories

InPlay from Briefing.com Briefing.com
Stock Market News for November 04, 2014 Zacks
Energy stocks help lift S&P 500 MarketWatch
US STOCKS-Wall St retreats off record peaks as energy, techs fall Reuters
US STOCKS SNAPSHOT-S&P 500 ends flat as energy weighs; Dow at record Reuters

Nasdaq Composite +11.8% YTD
S&P 500 +10.4% YTD
Dow Jones Industrial Average +6.5% YTD
Russell 2000 +0.1% YTD

3:35 pm: [BRIEFING.COM]

Crude oil remained in negative territory all day today, falling as low as $74.72/barrel. By the end of today's session, Dec crude closed 21 cents at $75.61/barrel
Natural gas futures surged higher today on current weather conditions/current outlook
As a results, Dec nat gas rose 8% to $4.34/MMBtu
Dec gold fell 0.7% to $1186.20/oz, while Dec silver -1.4% at $16.06/oz
Dec copper lost 1 cent to $3.04/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.1% with one hour remaining in the Monday session.

Investor s received just a few quarterly reports this morning and that will remain the case until the Q4 reporting period begins. Before then, the market will hear from some retail names that traditionally report late.

Following today's close, participants will hear from Urban Outfitters (URBN 30.89, +0.04) while tomorrow morning will be headlined by Dick's Sporting Goods (DKS 47.39, -0.51), Home Depot (HD 98.09, -0.15), and TJX (TJX 61.80, -0.52).

2:30 pm: [BRIEFING.COM] Quiet afternoon continues with the S&P 500 (+0.1%) hovering between its flat line and the session high.

Although the benchmark index remains little changed, the utilities sector (+1.3%) has strung together a solid session. The countercyclical sector has stayed in an uptrend since the opening bell to extend its quarterly advance to 7.6%. The rate-sensitive group is still down for November, but that decline has been narrowed to 0.3%.

On the flip side, the energy sector (-0.3%) has inched up off its low, but continues trading behind the remaining nine groups. Similarly, crude oil has narrowed its loss to 0.2% ($75.62/bbl).

2:00 pm: [BRIEFING.COM] The S&P 500 is back on its flat line after marking a fresh high during the past 30 minutes of the session. All in all, sideways action continues with the benchmark index remaining little changed.

Investors received just two data points today, but the remainder of the week will bring more economic data of note. The PPI report for October (Briefing.com consensus -0.2%) will be released tomorrow at 8:30 ET while Wednesday's data will include October Housing Starts (consensus 1.025 million) and the minutes from the FOMC Meeting that took place on October 29.

Another dose of economic news will cross the wires on Thursday with October CPI (Briefing.com consensus -0.1%) headlining the list.

1:35 pm: [BRIEFING.COM] Not a great deal of change in the market's complexion since the last update. For that matter, there hasn't been a great deal of change since Friday either as the U.S. stock market has continued its meandering ways without a lot of conviction from either buyers or sellers.

The S&P 500, up just over two points, is probing its best levels of the session, which has the markings of another consolidation trade and some vestiges of defensive positioning.

To the last point, today's best-performing sectors are the defensive-oriented utilities (+1.2%), health care (+0.7%), and consumer staples (+0.4%) sectors.

The Actavis (ACT 248.06, +4.29) acquisition of Allergan (AGN 209.36, +10.71) is helping to underpin the health care sector, but generally speaking, some festering concerns that the market is overbought and due for a pullback have presumably driven some participants into less volatile sectors in a capital preservation effort.

12:55 pm: [BRIEFING.COM] The Dow (+0.1%) and S&P 500 (unch) are little changed at midday while the Nasdaq (-0.3%) and Russell 2000 (-0.4%) underperform.

Equities began the new trading week under slight pressure after Japan's preliminary GDP report for Q3 revealed the second consecutive decline (-0.4%; expected 0.5%), meaning the country is now in recession. The news gave an overnight boost to the yen, but the currency was back to unchanged against the dollar (116.20) by the start of the U.S. session.

Despite starting in the red, the S&P 500 was able to return to its flat line with help from comments made by European Central Bank President Mario Draghi, who provided another reminder that the ECB stands ready to act if downside risks continue mounting.

Outside of the verbal support, the market has received a boost from the health care sector (+0.6%) after Actavis (ACT 248.06, +4.28) agreed to acquire Allergan (AGN 209.68, +11.03) for $219/share in cash and stock. Meanwhile, another countercyclical sector-consumer staples (+0.5%)-has been underpinned by Tyson Foods (TSN 42.94, +2.28) after the company beat bottom-line estimates.

Generally speaking, countercyclical groups have fared better than the growth-sensitive side, but even the cyclical sectors have shown some signs of life in recent action. Industrials and financials have returned to their flat lines after showing early weakness while energy (-0.7%) remains pressured.

The energy sector tumbled out of the gate with crude oil enduring another retreat ($75.20, -0.62). In addition, Halliburton (HAL 49.76, -5.32) has agreed to acquire Baker Hughes (BHI 66.00, +6.09) for $78.62/share, representing a 40.8% premium to BHI's price on October 10 when the initial offer was made.

Also of note, technology (-0.2%) has been pressured by chipmakers. The PHLX Semiconductor Index is lower by 0.7%, which has factored into the relative weakness of the Nasdaq.

Treasuries are on their lows with the 10-yr yield up two basis points at 2.34%.

Economic data was limited to Empire Manufacturing and Industrial Production:

The Empire Manufacturing Survey for November registered a reading of 10.2, which was above the prior month's reading of 6.2, but below the Briefing.com consensus estimate, which was pegged at 12.0
Industrial production declined 0.1% in October after increasing a downwardly revised 0.8% (from 1.0%) in September, while the Briefing.com consensus expected an increase of 0.2%
Manufacturing production increased 0.2% for a second consecutive month, which was roughly in-line with the softness reported in the Federal Reserve regional manufacturing surveys
Durable goods manufacturing production rose 0.1% in October, down from a 0.2% increase in September

12:30 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 hovering just two points below its flat line. Meanwhile, the Nasdaq Composite (-0.4%) has spent the past hour in a slow climb off its worst level of the day, but the index continues facing notable weakness among chipmakers (PHLX Semiconductor Index -0.8%).

For its part, the S&P 500 has been kept within six points of its flat line by the relative strength of health care (+0.5%) and consumer staples (+0.4%). Health care continues drawing strength from biotechnology and large components like Allergan (AGN 209.88, +11.23) while the staples sector received a pre-market boost from Tyson Foods (TSN 42.90, +2.24), who reported better than expected earnings.

11:55 am: [BRIEFING.COM] The S&P 500 (-0.1%) remains inside a narrow range as all six cyclical sectors display losses larger than the benchmark index.

The energy sector (-0.8%) fell to the bottom of the leaderboard at the start and remains there as crude oil ($75.10, -0.72) endures another retreat. This morning, Halliburton (HAL 50.06, -5.02) confirmed it has agreed to merge with Baker Hughes (BHI 66.07, +6.18) for $78.62/share, but the news has not stirred up other components of the sector that is now down 2.6% in November.

On the upside, the utilities sector (+0.8%) has narrowed its November loss to 0.7% while improving its market-leading Q4 gain to 7.1%.

11:30 am: [BRIEFING.COM] The Dow and S&P 500 have continued respecting narrow ranges near their flat lines, but the Nasdaq Composite (-0.7%) and Russell 2000 (-0.8%) have been unable to find support. The two indices tried to rebound from their opening lows, but that attempt has been foiled and followed by a new round of losses.

Both indices have been pressured by the underperformance of high-beta names while blue chip listings have held up well as evidenced by the relative strength in the Dow. UnitedHealth (UNH 96.18, +1.07) leads with a gain of 1.1% while another health care component-Pfizer (PFE 29.94, -0.40)-displays the largest loss. The stock trades lower by 1.3%.

Treasuries hover near their lows with the 10-yr yield up two basis points at 2.34%.

10:55 am: [BRIEFING.COM] The S&P 500 (-0.1%) has dipped back into the red after making a brief appearance in the green while the Nasdaq Composite (-0.3%) has slid to a new low for the day.

The index has been pressured by chipmakers with the PHLX Semiconductor Index trading lower by 1.0%. Meanwhile, large cap components of the tech sector (-0.2%) are more mixed with Apple (AAPL 114.50, +0.32) up 0.3% and Google (GOOGL 547.77, -7.42) down 1.3%.

Similar to technology, most of the remaining cyclical groups continue holding losses while materials (unch) outperform.

Also of note, the relative strength of health care (+0.5%) and consumer staples (+0.3%) has prevented the S&P 500 from sliding to a fresh low of its own.

10:35 am: [BRIEFING.COM]

Commodities are mostly lower this morning as the dollar index shows some strength
Crude oil futures have been in the red all day so far and are currently -1% at $75.07/barrel
Natural gas is the best performing commodity today, currently showing a gain of 4.1% at $4.18/MMBtu
Dec gold +0.1% at $1186.50/oz, while Dec silver is -1.1% at $16.13/oz
Dec copper is +0.02% at $3.02/lb

9:55 am: [BRIEFING.COM] The major averages have pulled away from their opening levels with the Russell 2000 turning positive. The S&P 500 continues holding a two-point loss, but only four sectors remain are down more than 0.1% at this juncture.

Energy (-0.8%), financials (-0.3%), and industrials (-0.3%) represent the only three decliners of note, while the fourth underperformer-telecom services (-0.4%)-accounts for just over 2.0% of the market. Meanwhile on the countercyclical side, the health care sector has extended its gain to 0.3%.

The news of Actavis (ACT 252.50, +8.73) agreeing to acquire Allergan (AGN 212.50, +13.85) has given a boost and so has the strength within the biotech group. The iShares Nasdaq Biotechnology ETF (IBB 289.89, +1.72) is higher by 0.6%.

9:40 am: [BRIEFING.COM] Equity indices began the trading week with modest losses amid weakness in the six cyclical sectors. The S&P 500 is lower by 0.1% with all six growth-sensitive groups trading in-line or behind the benchmark index.

The energy sector (-0.8%) is the weakest performer with crude oil continuing to exert pressure on the sector. Crude futures are lower by 1.2% at $74.92/bbl while a 0.4% gain in the Dollar Index (87.82, +0.30) has also provided a headwind for the commodity.

Meanwhile, the countercyclical sectors fare a bit better with consumer staples (+0.1%), health care (+0.3%), and utilities (+0.2%) holding modest gains while the telecom services sector (-0.2%) hovers in the red.

Treasuries have returned to unchanged with the 10-yr yield at 2.32%.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: -3.10. Nasdaq futures vs fair value: -6.80. The stock market is on track for a modestly lower open, but futures on the S&P 500 have climbed off their lows and currently trade three points below fair value. Futures have been under pressure since last evening when Japan reported its third quarter GDP, which contracted for the second consecutive quarter, indicating the country has slipped into recession. This has all but ensured a delay to the country's sales tax hike, which has been discussed in recent weeks. Prime Minister Shinzo Abe is expected to announce that delay on Tuesday.

Outside of the news from Japan, the week has gotten off to a relatively quiet start with Q3 earnings dwindling down. However, investors have received some company-specific headlines.

Baker Hughes (BHI 68.40, +8.50) is on track to open higher by 14.2% after agreeing to be acquired by Halliburton (HAL 51.66, -3.43) for $78.62/share, which represents a 40.8% premium to BHI's price on October 10, prior to the initial offer.

Elsewhere, CNBC has reported Actavis (ACT 238.00, -5.77) will buy Allergan (AGN 209.60, +10.95) for $219/share in cash and stock.

On the earnings front, Tyson Foods (TSN 42.39, +1.83) is on track to open higher by 4.5% after beating bottom line estimates and guiding in-line.

Treasuries hold slim gains with the 10-yr yield down one basis point at 2.31%.

Just reported, Industrial Production decreased 0.1% in October, which was below the 0.2% increase expected by the Briefing.com consensus. Industrial production for September was revised lower to show an increase of 0.8% (from 1.0%). Separately, capacity utilization hit 78.9% while the Briefing.com consensus expected a reading of 79.3%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: -4.30. The S&P 500 futures trade three points below fair value.

Markets fell across most of Asia. Japan reported its third quarter GDP, which contracted for the second consecutive quarter, indicating the country is in a recession. This has all but ensured a delay to the country's sales tax hike, which has been discussed in recent weeks. Prime Minister Shinzo Abe is expected to announce the delay on Tuesday. Elsewhere, Stock Connect debuted, allowing overseas investors access to stocks on Mainland China.

In economic data:
Japan's Q3 GDP fell 0.4% quarter-over-quarter (expected 0.5%; previous -1.9%) while the year-over-year reading contracted 1.6% (consensus 2.1%; prior -7.3%). GDP Price Index rose 2.1% year-over-year (expected 1.9%; prior 2.0%)
Hong Kong's Unemployment Rate held at 3.3%, as expected
Australia's New Motor Vehicle Sales fell 1.6% month-over-month (prior 2.9%)
New Zealand's Retail Sales rose 1.5% quarter-over-quarter (expected 0.9%; last 1.2%) while Core Retail Sales increased 1.4% quarter-over-quarter (consensus 1.0%; prior 1.2%)
India's trade deficit narrowed to $13.35 billion from $14.25 billion (expected deficit of $15.60 billion)

------

Japan's Nikkei tumbled 3.0% from seven-year highs on word the economy has slipped into recession. Only Toray Industries and Mitsubishi UFJ Financial finished in the black, adding 4.1% and 2.2%, respectively.
Hong Kong's Hang Seng opened strong, but ended lower by 1.2% with trade settling on the 50-day average. Hong Kong Exchanges was the biggest drag, falling 4.5% on the first day of Stock Connect.
China's Shanghai Composite shed 0.2%, but held near three-year highs. Automaker SAIC Motor saw solid gains, climbing 3.2%.
India's Sensex rallied 0.5% to an all-time high. Automakers were among the top performers as Tata Motors and Hero MotoCorp gained 4.1% and 2.2%, respectively.

Major European indices trade mostly higher after climbing off their lows. Bank of England MPC member Martin Weale said the situation in the eurozone is not as gloomy as some had feared and that companies were planning to raise wages.

Economic data was limited:
Eurozone trade surplus expanded to EUR17.70 billion from EUR15.40 billion (expected surplus of EUR16.00 billion)
Spain's trade deficit narrowed to EUR2.37 billion from EUR2.77 billion (expected deficit of EUR2.70 billion)
Italy's trade surplus narrowed to EUR2.01 billion from EUR2.06 billion (expected surplus of EUR2.68 billion)

------

Great Britain's FTSE is lower by 0.1%. Consumer names lag with J Sainsbury and Tesco down 2.2% and 1.4%, respectively. On the upside, miners Anglo American, BHP Billiton, and Rio Tinto are up between 1.1% and 2.2%.
In France, the CAC trades up 0.1% with ArcelorMittal in the lead. The steelmaker has added 2.1%. Utility stocks are mixed as Veolia Environnement trades up 2.0% while Electricite de France and GDF Suez are lower by 0.5% and 0.8%, respectively.
Germany's DAX is higher by 0.2% with help from ThyssenKrupp, which has jumped 2.6%. Utilities lag with E.On and RWE down 0.2% and 0.5%, respectively.
Spain's IBEX outperforms with a gain of 0.9%. Embattled engineering company Abengoa has surged 22.5% after boosting its debt target.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -6.30. The S&P 500 futures trade four points below fair value.

The Empire Manufacturing Survey for November registered a reading of 10.2, which was above the prior month's reading of 6.2. However, it was below the Briefing.com consensus estimate, which was pegged at 12.0.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -4.50. U.S. equity futures trade modestly lower amid cautious action overseas with the S&P 500 futures three points below fair value. Index futures have been confined to negative territory throughout the night with the early weakness coming after Japan reported its third quarter GDP, which contracted for the second consecutive quarter, indicating the country is in a recession. Index futures have been able to climb off their lows, but they continue holding roughly half of their early losses. As for the yen, the dollar/yen pair fell in reaction to the news, but has recovered entirely to 116.25.

Treasuries hold modest gains with the 10-yr yield down two basis points at 2.30%.

The Empire Manufacturing Report for November (Briefing.com consensus 12.0) will be released at 8:30 ET while October Industrial Production (consensus 0.0%) and Capacity Utilization (expected 79.2%) will be reported at 9:15 ET.

In U.S. corporate news of note:

Allergan (AGN 207.50, +8.85): +4.5% amid reports the company may be close to being acquired by Actavis (ACT 243.77, 0.00) for $215/share.
Baker Hughes (BHI 69.19, +9.22): +15.4% after agreeing to be acquired by Halliburton (HAL 52.51, -2.57) for $78.62/share, representing a 40.8% premium to BHI's price on October 10.
Dreamworks Animation (DWA 22.55, -3.47): -13.3% after the Wall Street Journal said the company's merger talks with Hasbro (HAS 55.50, +1.48) may be fading.
JD.com (JD 28.35, +1.34): +5.0% in reaction to better than expected revenue.
Tyson Foods (TSN 41.00, +0.34): +0.8% after beating bottom line estimates and guiding in-line.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -0.2%, Hong Kong's Hang Seng -1.2%, and Japan's Nikkei -3.0%
In economic data:
Japan's Q3 GDP fell 0.4% quarter-over-quarter (expected 0.5%; previous -1.9%) while the year-over-year reading contracted 1.6% (consensus 2.1%; prior -7.3%). GDP Price Index rose 2.1% year-over-year (expected 1.9%; prior 2.0%)
Hong Kong's Unemployment Rate held at 3.3%, as expected
Australia's New Motor Vehicle Sales fell 1.6% month-over-month (prior 2.9%)
New Zealand's Retail Sales rose 1.5% quarter-over-quarter (expected 0.9%; last 1.2%) while Core Retail Sales increased 1.4% quarter-over-quarter (consensus 1.0%; prior 1.2%)
India's trade deficit narrowed to $13.35 billion from $14.25 billion (expected deficit of $15.60 billion)
In news:
The contraction in Japan's GDP has all but ensured a delay to the country's sales tax hike, which has been discussed in recent weeks. Prime Minister Shinzo Abe is expected to announce the delay on Tuesday.

Major European indices trade in mixed fashion. France's CAC -0.1%, Great Britain's FTSE -0.1%, and Germany's DAX +0.1%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.6%
Economic data was limited:
Eurozone trade surplus expanded to EUR17.70 billion from EUR15.40 billion (expected surplus of EUR16.00 billion)
Spain's trade deficit narrowed to EUR2.37 billion from EUR2.77 billion (expected deficit of EUR2.70 billion)
Italy's trade surplus narrowed to EUR2.01 billion from EUR2.06 billion (expected surplus of EUR2.68 billion)
Among news of note:
Bank of England MPC member Martin Weale said the situation in the eurozone is not as gloomy as some had feared and that companies were planning to raise wages.

6:38 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -7.00.

6:38 am: [BRIEFING.COM] Nikkei...16,973.80...-517.00...-3.00%. Hang Seng...23,797.08...-290.30...-1.20%.

6:38 am: [BRIEFING.COM] FTSE...6,634.99...-19.20...-0.30%. DAX...9,211.78...-41.20...-0.40%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
@ http://twitter.com/wrbtrader @ http://stocktwits.com/wrbtrader

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