Monday Watch

Today's Headlines

Bloomberg:

• China Wants Its Stock, Bond Markets to Step Up Funding Role.

• France’s Message for Capitalism Is Quite Simple: Adapt or Die.

• Asia Stocks Set for Gains as Focus Turns to Fed. Stocks in Asia looked set for gains Monday after a positive finish to a strong week for U.S. stocks led global equities to a five-month high. Shares in Sydney climbed and futures late Friday pointed higher for Tokyo and Hong Kong after the S&P 500 Index posted its best week since November. Treasuries rose Friday with the 10-year yield falling below 2.6 percent on soft economic data. The dollar drifted as focus turned to the Federal Reserve, which will likely reinforce its policy-pause stance later this week. Australia’s S&P/ASX 200 Index rose 0.2 percent. Futures on Japan’s Nikkei 225 added 0.5 percent in Singapore trading. Hang Seng futures rose 0.4 percent. The S&P 500 rose 0.5 percent Friday. Futures dipped 0.1 percent.   

• Five Things You Need to Know to Start Your Day.

• Saudis Say OPEC+ Will Do What's Needed to Keep Market Balanced.

• Fed and Friends to Sound Dovish: Global Economy Week.

Wall Street Journal:

• Future of Sports Is Interactive, Immersive and Intense.

• Kids, Don’t Become Success Robots.

• Ethiopian Airlines Black Boxes Showed ‘Clear Similarities’ With Lion Air Crash.

• New Zealand Shooter Likely Acted Alone.

• Colleges Rethink Athletic Special Admissions in Wake of Indictments.

• Many S&P 500 CEOs Got a Raise in 2018 That Lifted Their Pay to $1 Million a Month.

• Fed Could Show Greater Confidence in Extended Pause.

MarketWatch.com:

• Headwinds might turn into tailwinds soon for U.S. economy after shaky start to new year.

Fox News:

• Dems’ plan to split GOP over Mueller report didn’t play out how they wanted: top House Republican.

CNBC: 

• After comeback, the stock market is aligned with a historical pattern with perfect track record.

• 5G hasn't even arrived yet, but these ETFs based on the new technology are soaring.

• Market watcher who called the 2018 sell-off is going for growth again. Here’s why.

Zero Hedge:  

• May And Merkel Fiddle While Their Unions Burn.

• Trump Rips Steele For Using "Low Ratings" CNN 'Citizen Journalist' Article As Dossier Source.

• Deutsche And Commerzbank Begin Formal Merger Talks: This Is What The Combine Bank Will Look Like.

• Families Are Crossing Southern U.S. Border In Record Numbers.

• Social Media, Universal Basic Income, & Cashless Society: How China's Social Credit System Is Coming To America.

• Reuters Shelved 'Buff My Balls Beto' Hacker Story Until After 2018 Senate Race.

Business Insider:

• Facebook(FB), facing huge criticism over live streaming, says it removed 1.5 million videos of the New Zealand shooting in 24 hours.

Night Trading

• Asian indices are unch. to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 66.5 unch.

• China Sovereign CDS 46.75 +.75 basis point.

• Bloomberg Emerging Markets Currency Index 67.77 unch.

• FTSE 100 futures n/a.

• S&P 500 futures -.11%.

• NASDAQ 100 futures -.10%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (LL)/.16

• (OSTK)/.78
  

After the Close:

• (HQY)/.22

• (TLRY)/-.13

Economic Releases
10:00 am EST

• The NAHB Housing Market Index for March is estimated to rise to 63.0 versus 62.0 in February.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Japan Industrial Production report and the Eurozone Trade Balance report could also impact trading today.

BOTTOM LINE: Asian indices are mostly 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 75% net long heading into the week.