Thursday, March 16, 2017

Friday Watch

Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 88.0 -1.75 basis points.
  • Asia Pacific Sovereign CDS Index 26.25 -1.0 basis point
  • Bloomberg Emerging Markets Currency Index 71.95 -.01%
  • S&P 500 futures +.02%. 
  • NASDAQ 100 futures +.01%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (TIF)/1.38
Economic Releases
9:15 am EST 
  • Industrial Production MoM for February is estimated to rise +.2% versus a -.3% decline in January.
  • Capacity Utilization for February is estimated to rise to 75.5% versus 75.3% in January. 
  • Manufacturing Production for February is estimated to rise +.5% versus a +.2% gain in January. 
10:00 am EST
  • Preliminary Univ. of Mich. Consumer Sentiment for March is estimated to rise to 97.0 versus 96.3 in February.
  • The Leading Index for February is estimated to rise +.5% versus a +.6% gain in January. 
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The President Trump/Angela Merkel meeting at White House and the Eurozone Trade Balance report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 75% net long heading into the day.

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