Thursday, June 15, 2017

Friday Watch

Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 83.5 +1.25 basis points. 
  • Asia Pacific Sovereign CDS Index 17.25 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 73.04 -.04%.
  • S&P 500 futures +.11%.
  • NASDAQ 100 futures +.16%.
Morning Preview Links

Earnings of Note
  • None of note
Economic Releases 
8:30 am EST
  • Housing Starts for May are estimated to rise to 1220K versus 1172K in April.
  • Building Permits for May are estimated to rise to 1249K versus 1229K in April.
10:00 am EST 
  • The Labor Market Conditions Index for May is estimated to fall to 3.0 versus 3.5 in April. 
  • Preliminary Univ. of Mich. Consumer Sentiment for June is estimated to fall to 97.0 versus 97.1 in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Kaplan speaking, Eurozone CPI report, FTSE Russell Reconstitution List Updates, (GLW) Investor Meeting and the (CNC) Investor Day could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by industrial and technology 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.

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