Markets around the world remain mixed after the long holiday weekend but US futures are firmly in the red at this 6AM hour as Friday’s jobs report generates corporate profit concerns. This week will see the kickoff of the first quarter earnings season when AA reports on Wednesday. Across the commodity markets, gold jumped 1.7% as traders turned away from equities. Oil is seeing healthy gains on the view that last week’s Iranian nuclear deal won’t immediately produce more crude supply from that country. The US dollar is stable after having taken a dip on the jobs report.

ON THE ECONOMIC CALENDAR:

8:30AM: Gallup US Consumer Spending Measure

9:45AM: PMI Services Index

10AM: Labor Market Condition Index

10AM: ISM Non Manufacturing Index

12:30PM: TD Ameritrade IMX

NEWS:

WYNN: The leading proxy-advisory firm, ISS, on Sunday, advised shareholders to protest governance support issues at the casino operator by voting against all board nominees, including dissident nominee Elaine Wynn, the former wife of the company’s CEO, reports the wsj

VTR: AHS: Ventas to acquire Ardent Health Services for $1.75B in cash

EDR: sees fall same-community portfolio revenue up 2.5-3.5%

RDY: GILD: Dr Reddys in deal with Gilead to distribute, hep C drug, sofosbuvir in India

GILD: RBC Capital out positive on Gilead earnings expectation

O: announces 5M share secondary offering

TRUE: reports dealership growth: 38% higher over last year

WBAI: suspends all online lottery sales in China, reports rpnewswire

GOOG: GOOGL: Google in talks with mobile operators for cheap overseas calls, report the telegraph

AMGN: European Commission approves expanded use of Vectibix

AAPL: iWatch could be delayed in Switzerland due to patent issues, reports appleinsider

QURE: announces deal with BMY which includes Bristol-Myers acquiring an initial equity stake of 4.9% in UniQure

TSLA: First-Quarter Car Deliveries Rise Above 10,000: looks to accelerate volume gains for the rest of the year, reports the wsj

ANALYSTS RATINGS CHANGES

UPGRADES:

LL: upgrade; market perform to outperform: Raymond James: $40

VMW: upgrade: neutral to buy: Nomura: $95

LB: upgrade: neutral to buy: Mizuho: pt raised from $92 to $108

TIF: neutral to buy: Monness Crespi: $103

IMAX: upgrade; hold to buy: Canaccord: pt raised from $35 to $38

MAT: upgrade: hold to buy: B Riley

COH: upgrade; underperform to market perform: Telsey: $45

MSFT: upgrade: market perform to outperform: Wells Fargo

DOWNGRADES:

QCOM: downgrade: outperform to market perform: FBR: pt cut from $80 to $72

Z: downgrade; overweight to equal weight: Barcalys: $!05

INITIATIONS:

PCLN: initiated: buy: Argu: $1480

PRICE TARGET CHANGES: