Monday, June 26, 2017

Tuesday Watch

Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 85.0 -3.5 basis points. 
  • Asia Pacific Sovereign CDS Index 19.0 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 72.91 -.02%.
  • S&P 500 futures +.01%.
  • NASDAQ 100 futures +.03%.
Morning Preview Links

Earnings of Note
  • (DRI)/1.15
  • (FDS)/1.84
  • (AVAV)/.99
  • (CAMP)/.27
  • (KBH)/.26
Economic Releases 
9:00 am EST
  • The S&P CoreLogic CS 20-City MoM for April is estimated to rise +.45% versus a +.87% gain in March.
10:00 am EST
  • The Conference Board Consumer Confidence Index is estimated to fall to 116.0 versus 117.9 in May.
  • The Richmond Fed Manufacturing Index for June is estimated to rise to 6.0 versus 1.0 in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Yellen speaking, Fed's Kashkari speaking, Fed's Williams speaking, Fed's Harker speaking, German retail sales report, weekly US retail sales reports, $34B 5Y T-Note auction, Macquarie Metals/Mining/Materials Conference, (MA) annual meeting and the (LPX) analyst day could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, weighed down 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 75% net long heading into the day.

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