Monday, June 12, 2017

Tuesday Watch

Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 85.5 -.25 basis point. 
  • Asia Pacific Sovereign CDS Index 17.75 unch.
  • Bloomberg Emerging Markets Currency Index 73.26 +.04%.
  • S&P 500 futures +.11%.
  • NASDAQ 100 futures +.14%.
Morning Preview Links

Earnings of Note
  • (JW/A)/.54
  • (HRB)/3.53
Economic Releases 
6:00 am EST
  • The NFIB Small Business Optimism Index for May is estimated at 104.5 versus 104.5 in April.
8:30 am EST
  • PPI Final Demand MoM for May is estimated unch. versus a +.5% gain in April.
  • PPI Ex Food & Energy MoM for May is estimated to rise +.1% versus a +.4% gain in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Dudley speaking, AG Jeff Sessions testimony to Senate Intel Committee, Senate Health Committee Hearing on drug costs, UK CPI report, German Zew Index, $12B 30Y T-Bond auction, weekly US retail sales reports, RBC Mining/Materials Conference, Piper Jaffray Consumer Conference, Deutsche Bank Consumer Conference, Goldman Sachs Healthcare Conference, Citi Industrials Conference and the Morgan Stanley Financials Conference 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 modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the day.

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