Sunday, May 13, 2018

Monday Watch

Today's Headlines
  • Asian Stocks Set for Muted Start; Dollar Steady: Markets Wrap. Asian stocks are set for a muted start to trading Monday with futures in Japan, Australia and Hong Kong all little changed. Focus in the region turns to Malaysia, where markets open for the first time since last week’s historic election. U.S. stocks closed slightly higher Friday, capping their best week in two months amid growing conviction that inflation will remain tame and as trade tensions eased. The greenback finished the week little changed, while 10-year Treasury yields steadied below 3 percent. Emerging market shares posted their first weekly gain in four weeks. Futures on the Nikkei 225 Stock Average were down less than 0.1 percent in Singapore. Australia’s S&P/ASX 200 Index rose less than than 0.1 percent. Hong Kong Hang Seng Index futures added less than 0.1 percent. S&P 500 Index futures increased 0.2 percent as of 7:22 a.m. in Tokyo.
Night Trading
  • Asian indices are unch. to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 74.5 -1.0 basis point.
  • Asia Pacific Sovereign CDS Index 12.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 72.44 +.05%.
  • FTSE 100 futures -.06%.
  • S&P 500 futures +.27%.
  • NASDAQ 100 futures +.40%.

Earnings of Note
  • (MZOR)/-.04
  • (A)/.64
  • (ITRI)/.13
  • (TDW)/-.55
Economic Releases
  • None of note
Upcoming Splits
  • (HLF) 2-for-1
Other Potential Market Movers
  • The Fed's Mester speaking, Fed's Bullard speaking, Japan Bond Purchases report, Monthly OPEC oil market report, RBC Auto/Industrials/Transports Conference, JPMorgan Homebuilding/Building Products Conference, Piper Jaffray Institutions Conference and the (LPX) investor day could also impact trading today.
BOTTOM LINE: Asian indices are slightly 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 week.

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