Night Trading
- Asian equity indices are -.25% to +.50% on average.
- Asia Ex-Japan Investment Grade CDS Index 64.25 +.25 basis point.
- China Sovereign CDS 41.75 +.5 basis point.
- Bloomberg Emerging Markets Currency Index 66.63 +.03%.
- S&P 500 futures +.24%.
- NASDAQ 100 futures +.58%.
Earnings of Note
Company/Estimate
Before the Open:
- (AAWW)/.85
- (ADP)/1.69
- (CLX)/1.48
- (CME)/1.60
- (CVS)/1.51
- (EL)/1.30
- (HLT)/.76
- (HUM)/4.30
- (IDXX)/1.05
- (JCI)/.30
- (LLL)/2.47
- (TAP)/.58
- (BTU)/.56
- (PBI)/.21
- (RCL)/1.11
- (SGMS)/-.05
- (SMG)/3.43
- (SEE)/.56
- (SO)/.72
- (S)/-.01
- (STRA)/1.43
- (UTHR)/2.61
- (YUM)/.82
After the Close:
- (ALL)/2.32
- (CAR)/-1.00
- (BLUE)/-2.83
- (CZR)/-.19
- (CF)/.33
- (CAKE)/.60
- (CRUS)/.12
- (ESV)/-1.30
- (STAY)/.15
- (HCP)/.43
- (H)/.29
- (KHC)/.61
- (CLI)/.41
- (MET)/1.27
- (OI)/53
- (PPC)/.34
- (PRU)/3.15
- (PSA)/2.52
- (QCOM)/.71
- (RGLD)/.44
- (SQ)/.08
- (WMB)/.22
- (XPO)/.41
Economic Releases
8:15 am EST
- The ADP Employment Change for April is estimated to rise to 180K versus 129K in March.
10:00 am EST
- ISM Manufacturing for April is estimated to fall to 55.0 versus 54.3 in March.
- ISM Prices Paid for April is estimated to rise to 55.0 versus 54.3 in March.
- Construction Spending MoM for March is estimated unch. versus a +1.0% gain in February.
2:00 pm EST
- The FOMC is expected to leave the benchmark Fed Funds Rate at 2.25-2.5%.
Afternoon
- Wards Total Vehicle Sales are estimated to fall to 17.0M versus 17.5 in March.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Economic Projections/Press Conference, weekly EIA energy inventory data and the weekly MBA Mortgage Applications report could also impact trading today.
BOTTOM LINE:
Asian indices are mostly higher, boosted by commodity and technology
shares in the region. I expect US stocks to open modestly higher and to
weaken into the afternoon, finishing mixed. The Portfolio is 100% net
long heading into the day.
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