Night Trading
- Asian equity indices are unch. to +.50% on average.
- Asia Ex-Japan Investment Grade CDS Index 64.0 unch.
- Asia Pacific Sovereign CDS Index 42.0 -.25 basis point.
- Bloomberg Emerging Markets Currency Index 67.39 -.04%.
- S&P 500 futures +.01%
- NASDAQ 100 futures +.08%.
Earnings of Note
Company/Estimate
Before the Open:
- (ABT)/.62
- (ASML)/.48
- (BMI)/.37
- (BK)/.96
- (KSU)/1.44
- (MS)/1.17
- (PEP)/.93
- (TXT)/.69
- (USB)/1.00
After the Close:
- (AA)/-.14
- (BXS)/.55
- (CCI)/1.37
- (ETFC)/.93
- (KMI)/.25
- (LVS)/.86
- (PIR)/-.24
- (SLG)/1.70
- (URI)/3.04
Economic Releases
8:30 am EST
- The Trade Balance report for Feb. is estimated to widen to -$53.4B versus -.
10:00 am EST
- Wholesale Inventories MoM for Feb. is estimated to rise +.3% versus a +1.2% gain in Jan.
- Wholesale Trade Sales MoM for Feb. is estimated to rise +.3% versus a +.5% gain in Jan.
10:30 am EST
- Bloomberg
consensus estimates call for a weekly crude oil inventory gain of
+1,564,330 barrels versus a +7,029,000 barrel gain the prior week.
Gasoline supplies are estimated to fall by -1,720,750 barrels versus a
-7,710,000 barrel decline the prior week. Distillate inventories are
estimated to fall by -1,176,750 barrels versus a -116,000 barrel decline
the prior week. Finally, Refinery Utilization is estimated to rise by
+.89% versus a +1.1% gain prior.
2:00 pm EST
- U.S. Fed Beige Book.
Upcoming Splits
- None of note
Other Potential Market Movers
- The China Retail Sales/Industrial Production/GDP reports, UK Inflation data, weekly MBA Mortgage Applications report and the BofA Merrill Auto Summit could also impact trading today.
BOTTOM LINE:
Asian indices are mostly higher, boosted by industrial and technology
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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