Tuesday, February 21, 2017

Wednesday Watch

Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 98.0 -3.25 basis points.
  • Asia Pacific Sovereign CDS Index 26.25 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 71.46 +.05%
  • S&P 500 futures +.02%. 
  • NASDAQ 100 futures +.06%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (CHS)/.04
  • (DISH)/.67
  • (EV)/.57
  • (MBLY)/.20
  • (TJX)/1.00
  • (TOL)/.35
  • (UTHR)/3.86
  • (WLH)/.67
  • (WWW)/.31
  • (CAKE)/.67
  • (CTRP)/.14
  • (ETE)/.29
  • (HPQ)/.37
  • (JACK)/1.25
  • (LB)/1.90
  • (NBR)/-.33
  • (SINA)/.54
  • (TSLA)/-.54
  • (RIG)/.06
  • (WB)/.28
Economic Releases
10:00 am EST
  • Existing Home Sales for January are estimated to rise to 5.55M versus 5.49M in December. 
2:00 pm EST
  • The FOMC Meeting Minutes for Feb. 1.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German IFO Index, Eurozone CPI report, $34B 5Y T-Note auction, weekly MBA mortgage applications report, weekly US retail sales reports, RBC Healthcare conference and the Barclays Industrial conference could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.

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