Monday Watch

Today's Headlines

Bloomberg:

• Trade War Jaw-Jaw Returns With Fresh Talks: Global Economy Week.  

• China Has a Lot of Financial Opening Up to Do, Says Central Bank.

• Uber to Seal $3.1 Billion Deal to Buy Careem This Week. 

• Stocks to Drop in Asia, Yields Fall on Growth Woes. Stocks in Asia looked set to track heavy losses in U.S. equities as bond yields continued to march lower amid concerns that momentum is slowing in the global economy. The risk-off tone that built on Friday looks set to extend into Asia early Monday, as futures signaled losses for equities in Japan and Hong Kong, while Australian shares opened weaker. Australia’s 10-year bond yield hit an all-time low after the yield on Germany’s 10-year bonds tumbled below zero and a closely watched gauge of Treasuries inverted for the first time since 2007, underscoring the return to globally low long-term rates. U.S. equity futures showed little reaction to Special Counsel Robert Mueller’s decision to forgo an obstruction case against President Donald Trump. Futures on Japan’s Nikkei 225 declined 1.7 percent in Singapore late Friday. Hang Seng Index futures dropped 1.4 percent. Australia’s S&P/ASX 200 Index fell 1 percent. The S&P 500 Index decreased 1.9 percent Friday. Futures were little changed.

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

• Populists Run 68% of GDP, China Stimulus, Trade Jaw-Jaw: Eco Day.

Wall Street Journal:   

• Mueller Doesn’t Find Trump-Russia Conspiracy .

• iPad Mini...Air...Pro? Here’s How to Pick the Right iPad.

• Both Sides Hope for Political Fodder in Mueller Report.

• A First Step Toward Restoring Free Speech on Campus.

• With the iPhone Sputtering, Apple Bets Its Future on TV and News.

• Stock Market Rally Trips on Global Growth Fears.

• China’s Huge Bond Market Is Coming to an ETF Near You Soon.

• Islamic State’s Caliphate Is Gone, but Not Its Violent Extremism.

• Slowing Global Economy Raises Expectations Fed Will Cut Rates This Year.

Fox News:

• Probe finds no proof of Trump campaign collusion with Russia, no conclusion on obstruction: Barr letter.

• MICHAEL GOODWIN: Why Obama and Clinton should now be probed.

• White House claims victory after release of Mueller report summary.

CNBC:

• Read Attorney General William Barr’s summary of special counsel Robert Mueller’s findings.

Zero Hedge:   

• Trump "Totally Exonerated", Calls For Investigation Into "Illegal Takedown That Failed".

• Another Trade-Deal Obstacle Emerges: China Refuses To Budge On Cloud Computing.

• Impeachment Odds Implode As Mueller Report Clears Trump Of Collusion.

• Top Democrat: Mueller Report Doesn't Matter, "We Know There Was Collusion".

• Cancer-Causing Chemical Over Houston Channel Sends Hundreds To Hospital.

• The New Green Deal Is Not New. Not Green. Not A Deal.

• "We're Not In Beijing" - Italian Newspaper Slams Chinese Embassy For Trying To Intimidate Reporter.

• UK Coup Erupts: Theresa May Cabinet In Revolt, Plotting Her Imminent Overthrow.

• Record 4 Million Sign "Cancel Brexit" Petition: It Won't Change a Damn Thing.

• France Is The Socialist Future We Should Dread.

• Italy Defies West As It Officially Joins China's "Neocolonial Project".

Business Insider:

• This is China's playbook to pit EU countries against each other.

• Apple(AAPL) made 15 surprise announcements this week — here's everything it unveiled.

• Barbra Streisand apologizes after sparking outrage for saying Michael Jackson's accusers were 'thrilled' to be with him and the alleged abuse 'didn't kill them'.

Night Trading

• Asian indices are -1.25% to -.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 72.0 -.25 basis point

• China Sovereign CDS 48.5 +.75 basis point.

• Bloomberg Emerging Markets Currency Index 67.28 +.09%.

• FTSE 100 futures n/a.

• S&P 500 futures -.15%.

• NASDAQ 100 futures -.11%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (WGO)/.60

After the Close:

• (RHT)/1.01

Economic Releases
8:30 am EST

• The Chicago Fed National Activity Index for Feb. is estimated to rise to -.25 versus -.43 in Jan.
  

10:30 am EST

• The Dallas Fed Manufacturing Activity Index for March is estimated to fall to 9.6 versus 13.1 in February.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The German IFO Business Climate Index and the (AAPL) news/video service event could also impact trading today.

BOTTOM LINE: Asian indices are lowe, weighed dow by technology and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the week.