Wednesday, May 16, 2018

Thursday Watch

Evening Headlines
Business Insider:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 76.0 unch. 
  • Asia Pacific Sovereign CDS Index 13.0 +.75 basis point.
  • Bloomberg Emerging Markets Currency Index 71.71 -.02%.
  • FTSE 100 futures +.03%.
  • S&P 500 futures +.04%.
  • NASDAQ 100 futures +.04%.
Morning Preview Links

Earnings of Note

Before the Open:
  • (DDS)/2.77
  • (TK)/-.08
  • (PLCE)/2.21
  • (WMT)/1.12
After the Close:
  • (AMAT)/1.15
  • (JWN)/.45
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week is estimated to rise to 215K versus 211K the prior week.
  • Continuing Claims are estimated to fall to 1780K versus 1790K prior. 
  • The Philly Fed Business Outlook Index for May is estimated to fall to 21.0 versus 23.2 in April.
 10:00 am EST
  • The Leading Index for April is estimated to rise +.4% versus a +.3% gain in March.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Kashkari speaking, Australia Unemployment report, Bloomberg Economic Expectations Index for May, weekly Bloomberg Consumer Comfort Index and the (ZEN) analyst day 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 weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the day.

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