Sunday, May 06, 2018

Monday Watch

Today's Headlines
  • Asian Stocks Mixed at Open; Dollar Pares Gains: Markets Wrap. Equity benchmarks in Japan fluctuated and gained in Australia. Hong Kong futures climbed alongside S&P 500 Index futures. The MSCI Asia Pacific declined for a second consecutive week last week. Oil hovered closer to $70 a barrel as traders braced for a re-imposition of some U.S. sanctions on Iran. Treasuries were little changed. Topix index fell 0.1 percent as of 9:09 a.m. in Tokyo. S&P/ASX 200 rose 0.7 percent. Hang Seng Index futures gained 0.7 percent. Futures on the S&P 500 rose 0.2 percent.
Night Trading
  • Asian indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 75.25 -1.5 basis points.
  • Asia Pacific Sovereign CDS Index 12.5 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 72.62 +.03%.
  • FTSE 100 futures +.84%.
  • S&P 500 futures +.13%.
  • NASDAQ 100 futures +.34%.

Earnings of Note
  • (CTSH)/1.06
  • (GCI)/.03
  • (LPX)/.69
  • (PETS)/.47
  • (SYY)/.63
  • (TSN)/1.31
  • (CENT)/.84
  • (HTZ)/-1.27
  • (MOS)/.27
  • (MYGN)/.27
  • (ZG)/.06
Economic Releases
3:00 pm EST
  • Consumer Credit for March is estimated to rise to $16.0B versus $10.601B in February.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Evans speaking, Fed's Barkin speaking, Fed's Kaplan speaking, NAFTA talks in Washington, China Foreign Reserves report, German Retail Sales report, Morgan Stanley Energy Conference and the (PSMT) monthly sales report 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 mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the week.

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