Sunday, June 12, 2016

Monday Watch

Night Trading
  • Asian indices are -2.0% to -1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 144.0 +4.5 basis points.
  • Asia Pacific Sovereign CDS Index 53.0 +1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 71.80 -.12%.
  • S&P 500 futures -.37%.
  • NASDAQ 100 futures -.38%.

Earnings of Note
Company/Estimate
  • None of note
Economic Releases
6:00 am EST
  • NFIB Small Business Optimism for May is estimated to fall to 93.5 versus 93.6 in April.
8:30 am EST
  • The Import Price Index MoM for May is estimated to rise +.7% versus a +.3% gain in April.
  • Retail Sales Advance MoM for May are estimated to rise +.3% versus a +1.3% gain in April. 
  • Retail Tales Ex Autos MoM for May are estimated to rise +.4% versus a +.8% gain in April.
  • Retail Sales Ex Autos and Gas for May are estimated to rise +.2% versus a +.6% gain in April.  
10:00 am EST
  • Business Inventories for April are estimated to rise +.2% versus a +.4% gain in March.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Australian inflation report, OPEC monthly update, Stifel Industrials Conference, (GWW) May sales, (AAPL) WWDC and the (JCI) analyst day could also impact trading today.
BOTTOM LINE: Asian indices are lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the week.

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