Monday, July 11, 2016

Tuesday Watch

Night Trading 
  • Asian equity indices are unch. to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 129.75 -3.75 basis points.
  • Asia Pacific Sovereign CDS Index 50.50 -2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 72.46 +.08%
  • S&P 500 futures +.08%. 
  • NASDAQ 100 futures +.12%.
Morning Preview Links

Earnings of Note

  • (FAST)/.48
  • (AIR)/.43
  • (ADTN)/.23
Economic Releases  
6:00 am EST
  • The NFIB Small Business Optimism Index for June is estimated to rise to 93.9 versus 93.8 in May. 
10:00 am EST:
  • Wholesale Inventories MoM for May are estimated to rise +.2% versus a +.6% gain in April.
  • Wholesale Trade Sales MoM for May are estimated to rise +.5% versus a +1.0% gain in April.
  • JOLTS Job Openings for May are estimated to fall to 5650 versus 5788 in April. 
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The Fed's Bullard speaking, Fed's Tarullo speaking, Fed's Mester speaking, Fed's Kashkari speaking, German CPI report, Japan Industrial Production report, OPEC monthly update, weekly US retail sales reports, $20B 10Y T-Note auction, Semicon West, USDA WASDA report, Cantor Healthcare Conference and the (ENTG) analyst meeting could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted 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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