Monday, September 05, 2016

Tuesday Watch

Posted by Gary .....at 9:02 PM
Night Trading
  • Asian indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 111.25 -2.25 basis points.
  • Asia Pacific Sovereign CDS Index 37.5 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 72.56 +.03%.
  • S&P 500 futures -.01%.
  • NASDAQ 100 futures -.08%.

Earnings of Note
Company/Estimate
  • (MRVL)/.11
  • (CASY)/1.81
  • (PLAY)/.44 
Economic Releases
10:00 am EST
  • Labor Market Conditions Index for August.
  • ISM Non-Manufacturing Composite for August is estimated to fall to 55.0 versus 55.5 in July.
  • The IBD/TIPP Economic Optimism Index for September is estimated to fall to 48.1 versus 48.4 in August. 
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Williams speaking, RBA rate decision, Australia GDP report, weekly US retail sales report and Citi Tech Conference could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer 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 week.

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