Thursday, June 01, 2017

Friday Watch

Night Trading 
  • Asian equity indices are +.25% to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 88.25 -2.5 basis points. 
  • Asia Pacific Sovereign CDS Index 19.25 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 73.21 +.01%.
  • S&P 500 futures +.18%.
  • NASDAQ 100 futures +.24%.
Morning Preview Links

Earnings of Note
  • (GOOS)/-.19
  • (HOV)/-.03
Economic Releases 
8:30 am EST
  • The Change in Non-Farm Payrolls for May is estimated to fall to 180K versus 211K.
  • The Unemployment Rate for May is estimated at 4.4% versus 4.4% in April.
  • Average Hourly Earnings MoM for May is estimated to rise +.2% versus a +.3% gain in April.
  • The Trade Deficit for April is estimated at -$46.1B versus -$43.7B in March.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone PPI report, ASCO-American Society of Clinical Oncology Annual Meeting, (ICE) Investor Day, (LOW) Annual Meeting and the (WMT) Annual Meeting could also impact trading today.
BOTTOM LINE:  Asian indices are higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.

No comments: