Thursday, November 24, 2016

Friday Watch

Night Trading 
  • Asian equity indices are -.25% to +.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 127.75 +2.25 basis points. 
  • Asia Pacific Sovereign CDS Index 43.5 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 69.02 +.01%
  • S&P 500 futures +.30%
  • NASDAQ 100 futures +.40%.
Morning Preview Links

Earnings of Note
  • None of note
Economic Releases 
8:30 am EST
  • Advance Goods Trade Balance report for October is estimated at -$59.0B versus -$56.5B in September.
  • Preliminary Wholesale Inventories MoM for October are estimated to rise +.2% versus a +.1% gain in September.
9:45 am EST
  • Preliminary Markit US Services PMI for November is estimated at 54.8 versus 54.8 in October. 
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The UK GDP report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 75% net long heading into the day.

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