Thursday, July 16, 2015

Friday Watch

Night Trading
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 105.75 -1.75 basis points.
  • Asia Pacific Sovereign CDS Index 59.0 -.75 basis point.
  • S&P 500 futures -.02%.
  • NASDAQ 100 futures +.30%.

Earnings of Note
Company/Estimate
  • (ALV)/1.55
  • (CMA)/.75
  • (GE)/.29
  • (HON)/1.49
  • (JBHT)/.90
  • (KSU)/1.02
  • (PGR)/.55
  • (STI)/.81
  • (GWW)/3.05
Economic Releases
8:30 am EST
  • Housing Starts for June are estimated to rise to 1106K versus 1036K in May.
  • Building Permits for June are estimated to fall to 1150K versus 1275K in May.
  • The CPI for June is estimated to rise +.3% versus a +.4% gain in May.
  • The CPI ex Food & Energy for June is estimated to rise +.2% versus a +.1% gain in May. 
  • Real Avg Weekly Earnings YoY for June.
10:00 am EST
  • Preliminary Univ. of Mich. Consumer Sentiment for July is estimated to fall to 96.0 versus 96.1 in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The (BURL) annual meeting could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by real estate and consumer shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.

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