Wednesday, May 26, 2010

Thursday Watch


Night Trading
  • Asian indices are -.50% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 155.50 -5.0 basis points.
  • S&P 500 futures +.55%.
  • NASDAQ 100 futures +.54%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (NOVL)/.07
  • (OVTI)/.17
  • (JCG)/.57
  • (GES)/.49
  • (BCSI)/.40
  • (COST)/.66
  • (HNZ)/.59
  • (BIG)/.67
  • (TIF)/.37
Economic Releases
8:30 am EST
  • 1Q GDP is estimated to rise +3.4% versus a prior estimate of a +3.2% gain.
  • 1Q Personal Consumption is estimated to rise +3.8% versus a prior estimate of a +3.6% gain.
  • 1Q GDP Price Index is estimated to rise +.9% versus a prior estimate of a +.9% gain.
  • 1Q Core PCE is estimated to rise +.6% versus a prior estimate of a .6% gain.
  • Initial Jobless Claims for last week are estimated to fall to 455K versus 471K the prior week.
  • Continuing Claims are estimated to fall to 4613K versus 4625K prior.
Upcoming Splits
  • (IDSA) 3-for-2
Other Potential Market Movers
  • The Fed's Bullard speaking, $31 Bln 7-Year Treasury Note Auction, weekly EIA natural gas inventory report, Citi Healthcare Conference, UBS Oil/Gas Conference, Barclays Communications/Media/Technology Conference, (BRS) analyst meeting, (NEM) investor day, (NVLS) Q2 Mid-Quarter Update and the (AEL) investor day could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by real estate and automaker shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

4 comments:

Anonymous said...

Gary, are you going to post news again, I find your news scan to be second to none

Gary said...

Yes, I will do full posts again on Tuesday. Thanks.

Franz said...

The same for me, Gary.
Thanks for your effort.

Anonymous said...

Gary,
Will market go up rest of the day or keep put till tomorrow

thanks