Monday, April 15, 2019

Tuesday Watch

Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 64.0 -1.5 basis point.
  • Asia Pacific Sovereign CDS Index 42.25 -1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 67.46 -.06%.
  • S&P 500 futures +.04%
  • NASDAQ 100 futures +.08%.

Earnings of Note 
Company/Estimate
Before the Open:
  • (BAC)/.66
  • (BLK)/6.13
  • (CMA)/1.93
  • (JNJ)/2.04
  • (OMC)/1.10
  • (PGR)/1.35
  • (UNH)/3.60
After the Close:
  • (CSX)/.91
  • (IBM)/2.24
  • (MRTN)/.24
  • (NFLX)/.57(UAL)/.95
Economic Releases
9:15 am EST
  • Industrial Production MoM for March is estimated to rise +.2% versus a +.1% gain in Feb.
  • Manufacturing Production for March is estimated to rise +.1% versus a -.4% decline in Feb.
  • Capacity Utilization for March is estimated to rise to 79.1% versus 78.2% in Feb.
10:00 am EST
  • The NAHB Housing Market Index for April is estimated to rise to 63.0 versus 62.0 in March.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone ZEW Index, Eurozone Trade Balance report, RBA Minutes and the weekly US retail sales reports could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and commodity shares in the region. I expect US stocks to open mixed and to strengthen into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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