Thursday, February 02, 2017

Friday Watch

Night Trading 
  • Asian equity indices are -.25% to +.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 112.0 -1.25 basis points.
  • Asia Pacific Sovereign CDS Index 32.25 unch.
  • Bloomberg Emerging Markets Currency Index 71.14 -.03%. 
  • S&P 500 futures -.19%. 
  • NASDAQ 100 futures -.16%.
Morning Preview Links

Earnings of Note

  • (AN)/.95
  • (CLX)/1.22
  • (HSY)/1.08
  • (HMC)/60.41
  • (LYB)/2.20
  • (PSX)/.46
  • (TUES)/.38
  • (WY)/.16 
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for January is estimated to rise to 175K versus 156K in December.
  • The Unemployment Rate for January is estimated at 4.7% versus 4.7% in December.
  • Average Hourly Earnings MoM for January is estimated to rise +.3% versus +.4% gain in December. 
10:00 am EST
  • The ISM Non-Manufacturing Composite for January is estimated to fall to 57.0 versus 57.2 in December.
  • Factory Orders for December are estimated to rise +.7% versus a -2.4% decline in November. 
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Evans speaking, Eurozone Services PMI report and President Trump's meeting with business execs(BX)/(JPM)/(DIS)/(IBM) could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by commodity and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

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