Tuesday, June 12, 2018

Wednesday Watch

Evening Headlines
Bloomberg:    
  • Asian Stocks Set to Slip as Central Banks Meet: Markets Wrap. Asian stocks are poised to open in the red following a lackluster session in the U.S. as investors turn their attention to the major central bank meetings this week after shrugging off Tuesday’s North Korea summit. The dollar gained alongside Treasury yields. Futures were lower in Japan, Australia and Hong Kong. Though the S&P 500 Index recovered from session lows, volumes were below average. Safe-haven assets including the yen and gold edged lower amid the prospects of diminishing geopolitical risks after President Donald Trump and Kim Jong Un pledged to work toward peace on the Korean Peninsula. The British pound rose after Prime Minister Theresa May fended off a rebellion by pro-EU Conservatives and won a key Brexit vote, only to give up most of that gain. Futures on the Nikkei 225 Stock Average fell 0.3 percent in Singapore.
    Australia’s S&P/ASX 200 Index futures lost 0.1 percent. Hang Seng Index futures declined 0.4 percent. S&P 500 futures rose 0.1 percent as of 7:04 a.m. in Tokyo
    .
Zero Hedge:    
Business Insider:
Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 77.75 -1.0 basis point 
  • Asia Pacific Sovereign CDS Index 12.5 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 70.59 +.01%.
  • FTSE 100 futures -.03%.
  • S&P 500 futures +.22%.
  • NASDAQ 100 futures +.36%.
Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:
  • (KFY)/.70
After the Close:
  • (TLRD)/.48
Economic Releases
8:30 am EST
  • The PPI Final Demand MoM for May is estimated to rise +.3% versus a +.1% gain in April.
  • PPI Ex Food and Energy MoM for May is estimated to rise +.2% versus a +.2% gain in April. 
  • PPI Final Demand YoY for May is estimated to rise +2.8% versus a +2.6% gain in April.
10:30 am EST
  • Bloomberg consensus estimates call for a weekly crude oil inventory decline of -1,086,830 barrels versus a +2,072,000 barrel gain the prior week. Gasoline supplies are estimated to rise by +907,640 barrels versus a +4,603,000 barrel gain the prior week. Distillate supplies are estimated to rise by +373,640 barrels versus a +2,165,000 barrel gain the prior week. Finally, Refinery Utilization is estimated to fall by -.04% versus a +1.5% gain the prior week.
2:00 pm EST
  • The FOMC is expected to raise the benchmark Fed Funds Rate to 1.75%-2.0%.
Upcoming Splits
  • (TREX) 2-for-1
  • (HBNC) 3-for-2
Other Potential Market Movers
  • The Fed Press Conference, UK CPI report, weekly MBA Mortgage Applications report, JP Morgan Materials conference, UBS Industrials/Transport Conference and the (CUB) investor day could also impact trading today.
BOTTOM LINE:  Asian indices are slightly higher, boosted by technology and biotech 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 day.

1 comment:

Packers And Movers Jaipur said...

Excellent Post...I must thank you for this informative news....
Packers And Movers Jaipur