Night Trading
- Asian equity indices are -.75% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.0 unch.
- China Sovereign CDS 40.75 unch.
- Bloomberg Emerging Markets Currency Index 66.27 -.04%.
- S&P 500 futures +.21%.
- NASDAQ 100 futures +.12%.
Earnings of Note
Company/Estimate
Before the Open:
- (AXL)/.34
- (AMT)/1.68
- (DISH)/.65
- (FCAU)/.50
- (ITT)/.84
- (NWL)/.06
- (RUTH)/.45
- (SGMS)/-.05
- (VFC)/.59
After the Close:
- None of note
Economic Releases
8:30 am EST
- The Change in Non-Farm Payrolls for April is estimated to fall to 190K versus 196K in March.
- The Unemployment Rate for April is estimated at 3.8% versus 3.8% in March.
- Average Hourly Earnings MoM for April is estimated to rise +.3% versus a +.1% gain in March.
- The Advance Goods Trade Balance for March is estimated at -$73.0B versus -$70.9B in Feb.
- Wholesale Inventories MoM for March are estimated to rise +.2% versus a +.2% gain in Feb.
- Retail Inventories MoM for March are estimated to rise +.1% versus a +.3% gain in Feb.
10:00 am EST
- The ISM Non-Manufacturing Index for April is estimated to rise to 57.0 versus 56.1 in March.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Williams speaking, Fed's Bullard speaking, Fed's Clarida speaking and the Eurozone PPI report could also impact trading today.
BOTTOM LINE:
Asian indices are mostly lower, weighed down by industrial 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 75% net long heading into the day.
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