Monday, June 27, 2016

Monday Watch

Night Trading
  • Asian indices are -.50% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 150.75 +10.25 basis points.
  • Asia Pacific Sovereign CDS Index 55.0 +4.25 basis points.
  • Bloomberg Emerging Markets Currency Index 71.15 -.17%.
  • S&P 500 futures -.36%.
  • NASDAQ 100 futures -.38%.

Earnings of Note
  • None of note
Economic Releases
8:30 am EST
  • The Advance Goods Trade Balance for May is estimated at -$59.5B versus -$57.5B in April.
9:45 am EST
  • Preliminary Markit US Services PMI for June is estimated to rise to 52.0 versus 51.3 in May.
10:30 am EST
  • The Dallas Fed Manufacturing Activity Index for June is estimated to rise to -15.0 versus -20.8 in May.
Upcoming Splits
  • (CORE) 2-for-1
Other Potential Market Movers
  • The ECB's Draghi speaking, German retail sales report and the JPMorgan Energy Conference could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the week.

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