Sunday, July 15, 2018

Monday Watch

Night Trading
  • Asian indices are -.5% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 89.0 -2.75 basis points.
  • Asia Pacific Sovereign CDS Index 13.5 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 69.72 unch.
  • FTSE 100 futures -.10%
  • S&P 500 futures +.04%.
  • NASDAQ 100 futures +.05%.

Earnings of Note
Company/Estimate
Before the Open:
  • (BAC)/.59
  • (BLK)/6.57
  • (JBHT)/1.28
After the Close:
  • (NFLX)/.79
Economic Releases
8:30 pm EST
  • Empire Manufacturing for July is estimated to fall to 20.6 versus 25.0 in June.
  • Retail Sales Advance MoM for June is estimated to rise +.5% versus a +.8% gain in May.
  • Retail Sales Ex Autos MoM for June is estimated to rise +.4% versus a +.9% gain in May. 
  • Retail Sales Ex Autos and Gas for June is estimated to rise +.4% versus a +.8% gain in May.
10:00 am EST
  • Business Inventories for May is estimated to rise +.4% versus a +.3% gain in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The President's meeting with Putin and the China GDP/Industrial Production reports could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial 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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