Wednesday, April 12, 2017

Thursday Watch

Night Trading 
  • Asian equity indices are -.75% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 100.0 +1.0 basis point
  • Asia Pacific Sovereign CDS Index 22.50 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 72.18 +.11%.
  • S&P 500 futures -.09%. 
  • NASDAQ 100 futures -.07%.
Morning Preview Links

Earnings of Note
  • (APOG)/.72
  • (C)/1.25
  • (INFY)/15.69
  • (JPM)/1.52
  • (TSM)/3.38
  • (WFC)/.97
Economic Releases
8:30 am EST 
  • PPI Final Demand MoM for March is estimated unch. versus a +.3% gain in February. 
  • PPI Ex Food and Energy MoM for March is estimated to rise +.2% versus a +.3% gain in February. 
  • Initial Jobless Claims are estimated to rise to 245K versus 234K the prior week.
  • Continuing Claims are estimated to fall to 2024K versus 2028K the prior week.  
10:00 am EST
  • Preliminary Univ. of Mich. Consumer Sentiment for April is estimated to fall to 96.5 versus 96.9 in March.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Australia Unemployment report, weekly Bloomberg Consumer Comfort Index and weekly EIA natural gas inventory report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by industrial and commodity 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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