Sunday, August 05, 2018

Monday Watch

Today's Headlines
Bloomberg: 
  • Yuan Steadies After PBOC, Asia Stocks Set to Gain. The yuan held on to its gains after a surprise move by the central bank to make it more expensive to bet against the currency triggered a rally in China’s currency. Asian stocks pointed to a small advance as earnings seasons rolls on. The offshore yuan maintained Friday’s gains when the People’s Bank of China announced a rule tweak in a bid to ease pressure on the yuan. Equity futures signaled a higher open for markets in Japan, Hong Kong and Australia ahead of results from regional heavyweights HSBC Holdings Plc and Softbank Group Corp. U.S. shares rose Friday, when the yield on 10-year Treasuries slipped to 2.95 percent. The Canadian dollar declined after Saudi Arabia froze all trade and investments with Canada. Futures on Japan’s Nikkei 225 were up 0.3 percent in Singapore. Futures on Australia’s S&P/ASX 200 advanced 0.3 percent. Futures on Hong Kong’s Hang Seng Index rose 0.7 percent. FTSE China A50 futures climbed 0.8 percent.  
MarketWatch.com:
Zero Hedge:              
Night Trading
  • Asian indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 83.0 +.75 basis point.
  • Asia Pacific Sovereign CDS Index 10.75 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 69.47 unch.
  • FTSE 100 futures +.12%
  • S&P 500 futures +.04%.
  • NASDAQ 100 futures +.07%.

Earnings of Note
Company/Estimate
Before the Open:
  • (CAH)/.93
  • (JEC)/1.21
  • (NWL)/.78
  • (BID)/1.55
  • (TSN)/1.36
After the Close:
  • (BRKS)/.43
  • (HTZ)/-.25
  • (LGND)/2.38
  • (MTW)/.24
  • (MAR)/1.38
  • (MOS)/.38
  • (OSTK)/-.82
  • (THC)/.23
  • (WTW)/.88
  • (ZG)/.10
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German Factory Orders report, Iran sanctions taking hold and (FAST) June sales report could also impact trading today.
BOTTOM LINE: Asian indices are modestly 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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