Sunday, January 13, 2019

Monday Watch

Today's Headlines
  • Asian Stocks to Start Mixed With Earnings in Focus. Asian stocks were poised for a mixed start on Monday, following the best week for regional stocks since the start of November, as investors awaited a raft of earnings and trade data from China. The yuan held recent gains. Futures indicated a small decline when equity trading begins in Hong Kong and Australia’s main index fluctuated at the open. Japan is closed for a holiday, so Treasuries won’t trade until the London open. U.S. equity futures slipped after the S&P 500 on Friday closed flat and the yield on 10-year Treasuries declined. Futures on Hong Kong’s Hang Seng slid 0.2 percent. Australia’s S&P/ASX 200 Index added 0.1 percent. Futures on the S&P 500 slid 0.3 percent.
Zero Hedge:  
Night Trading
  • Asian indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 89.50 +.25 basis point.
  • China Sovereign CDS 61.5 -1.75 basis points.
  • Bloomberg Emerging Markets Currency Index 67.88 -.05%.
  • FTSE 100 futures -.22%.
  • S&P 500 futures -.45%.
  • NASDAQ 100 futures -.49%.

Earnings of Note
Before the Open:
  • (C)/1.55
  • (SJR)/.31
After the Close:
  • None of note
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Trade Balance report, Deutsche Bank China Conference and the (AEO) business update could also impact trading today.
BOTTOM LINE: Asian indices are slightly lower, weighed down by financial and consumer 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.

1 comment:

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