Thursday, October 04, 2018

Friday Watch

Night Trading 
  • Asian equity indices are -1.0% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 81.75 +1.75 basis points. 
  • Asia Pacific Sovereign CDS Index 9.75 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 66.0 -.02%.
  • FTSE 100 futures -1.26%.
  • S&P 500 futures +.03%.
  • NASDAQ 100 futures +.01%.
Morning Preview Links

Earnings of Note
Company/Estimate
Before the Open:
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Trade Deficit for August is estimated at -$53.6B versus -$50.1B in July.
  • The Change in Non-Farm Payrolls for September is estimated to fall to 185K versus 201K in August.
  •  The Unemployment Rate for September is estimated to fall to 3.8% versus 3.9% in August.
  • Average Hourly Earnings MoM for September is estimated to rise +.3% versus a +.4% gain in August.
3:00 pm EST
  • Consumer Credit for August is estimated at $15.0B versus $16.64B in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Bostic speaking and German Factory Orders report could also impact trading today.
BOTTOM LINE:  Asian indices are lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the day.

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