Sunday, August 28, 2016

Monday Watch

Posted by Gary .....at 10:06 PM
Night Trading
  • Asian indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 113.75 unch.
  • Asia Pacific Sovereign CDS Index 40.25 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 72.75 -.49%.
  • S&P 500 futures -.07%.
  • NASDAQ 100 futures -.15%.

Earnings of Note
Company/Estimate
  • (PAHC)/.37
  • (SCSC)/.71
  • (CTLT)/.53  
Economic Releases
8:30 am EST
  • Personal Income for July is estimated to rise +.4% versus a +.2% gain in June.
  • Personal Spending for July is estimated to rise +.3% versus a +.4% gain in June. 
  • The PCE Core MoM for July is estimated unch. versus a +.1% gain in June.
10:30 am EST
  • Dallas Fed Manufacturing Activity for August is estimated to fall to -3.0 versus -1.3 in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Unemployment rate and 2016 Steel Summit could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity 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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