Monday, September 03, 2018

Tuesday Watch

Night Trading
  • Asian indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 84.0 +2.5 basis points.
  • Asia Pacific Sovereign CDS Index 10.75 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 65.38 -.03%.
  • FTSE 100 futures -.29%
  • S&P 500 futures +.07%.
  • NASDAQ 100 futures +.06%.

Earnings of Note
Company/Estimate
Before the Open:
  • (CASY)/1.65
  • (CONN)/.41
After the Close:
  • (COUP)/-.09
  • (HQY)/.28
  • (RH)/1.75
  • (WDAY)/.25
Economic Releases
10:00 am EST
  • Construction Spending MoM for July is estimated to rise +.5% versus a -1.1% decline in June.
  • ISM Manufacturing for August is estimated to fall to 57.7 versus 58.1 in July.
  • ISM Prices Paid for August is estimated to fall to 69.5 versus 73.2 in July.
Afternoon
  • Wards Total Vehicle Sales for August are estimated to rise to 16.88M versus 16.68M in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Evans speaking, Supreme Court Confirmation Hearings, Eurozone PPI report, Barclays Consumer Staples Conference and the HC Wainwright Investment Conference could also impact trading today.
BOTTOM LINE: Asian indices are slightly lower, weighed down by consumer and metal/mining shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the week.

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