Thursday, May 19, 2016

Friday Watch

Night Trading 
  • Asian equity indices are -.50% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 145.5 +.75 basis point. 
  • Asia Pacific Sovereign CDS Index 55.5 +1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 70.67 +.05%. 
  • S&P 500 futures +.25%. 
  • NASDAQ 100 futures +.34%.
Morning Preview Links

Earnings of Note

  • (BKE)/.57
  • (CPB)/.64
  • (DE)/1.48
  • (FL)/1.39
  • (HIBB)/1.20
Economic Releases 
10:00 am EST
  • Existing Home Sales for April are estimated to rise to 5.4M versus 5.22M in March. 
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The Fed's Tarullo speaking, Canadian inflation report, (CHK) annual meeting and the (JCP) annual meeting could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by consumer and commodity 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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