Wednesday, June 08, 2016

Thursday Watch

Night Trading 
  • Asian equity indices are -.50% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 138.5 -.25 basis point. 
  • Asia Pacific Sovereign CDS Index 51.5 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 72.89 +.08%
  • S&P 500 futures -.12%. 
  • NASDAQ 100 futures -.09%.
Morning Preview Links

Earnings of Note

  • (CBK)/-.10
  • (SJM)/1.19
  • (HRB)/3.17
  • (KFY)/.54
  • (MFRM)/-.04
Economic Releases
8:30 am EST
  • Initial Jobless Claims are estimated to rise to 270K versus 267K the prior week.
  • Continuing Claims are estimated to fall to 2171K versus 2172K prior.
10:00 am EST
  • Wholesale Inventories MoM for April are estimated to rise +.1% versus a +.1% gain in March.
  • Wholesale Trade Sales MoM for April are estimated to rise +1.1% versus a +.7% gain in March. 
12:00 pm EST
  • Household Change in Net Worth for 1Q. 
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The German Trade Balance report, $12B 30Y T-Bond auction, Citi Small/Mid-Cap Conference, (EAT) investor day and the (SNCR) investor day 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 50% net long heading into the day.

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