Wednesday, March 08, 2017

Thursday Watch

Night Trading 
  • Asian equity indices are -.75% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 95.25 +2.25 basis points.
  • Asia Pacific Sovereign CDS Index 27.50 +.5 basis point
  • Bloomberg Emerging Markets Currency Index 70.72 -.02%
  • S&P 500 futures +.05%. 
  • NASDAQ 100 futures +.02%.
Morning Preview Links

Earnings of Note
  • (SPLS)/.25
  • (SIG)/4.01
  • (SHLD)/-2.85
  • (IGT)/.52
  • (PRTY)/.74
  • (SSYS)/.05 
  • (ULTA)/2.13
  • (PAY)/.20
  • (ZUMZ)/.67
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY for February. 
8:30 am EST
  • Import Price Index MoM for February is estimated to rise +.1% versus a +.4% gain in January. 
  • Initial Jobless Claims for last week are estimated to rise to 238K versus 223K the prior week.
  • Continuing Claims are estimated to fall to 2062K versus 2066K prior.  
12:00 pm EST 
  • The Household Change in Net Worth for 4Q.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ECB rate decision, WASDE crop report, $12B 30Y T-Bond auction, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report and the Susquehanna Semi/Storage/Tech Conference could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by energy 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 day.

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