Night Trading
- Asian equity indices are -1.0% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 73.0 +1.75 basis points.
- China Sovereign CDS 50.5 +2.25 basis points.
- Bloomberg Emerging Markets Currency Index 65.64 -.10%.
- S&P 500 futures -.41%.
- NASDAQ 100 futures -.59%.
Earnings of Note
Company/Estimate
Before the Open:
- (BBY)/.87
- (BJ)/.25
- (HRL)/.45
- (MDT)/1.47
- (RY)/2.21
- (SINA)/.37
- (TK)/-.09
- (TTC)/1.21
- (TD)/1.68
- (WB)/.62
After the Close:
- (ADSK)/.47
- (DECK)/.06
- (HPE)/.36
- (HPQ)/.51
- (INTU)/5.39
- (LGF/A)/.22
- (ROST)/1.12
- (SPLK)/-.14
- (VSAT)/.07
Economic Releases
8:30 am EST
- Initial Jobless Claims are estimated to rise to 215K versus 212K the prior week.
- Continuing Claims are estimated to rise to 1666K versus 1660K prior.
9:45 am EST
- The preliminary Markit US Manufacturing PMI report for May is estimated to rise to 52.7 versus 52.6 in April.
- The preliminary Markit US Services PMI report for May is estimated to rise to 53.5 versus 53.0 in April.
10:00 am EST
- New Home Sales for April are estimated to fall to 675K versus 692K in March.
11:00 am EST
- The Kansas City Fed Manufacturing Activity Index for May is estimated to rise to 6.0 versus a reading of 5.0 in April.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Kaplan speaking, Fed's Barkin speaking, Fed's Daly speaking, Eurozone GDP/Manufacturing PMI reports, weekly EIA natural gas inventory report and the (WHR) investor day could also impact trading today.
BOTTOM LINE:
Asian indices are lower, weighed down by technology and industrial
shares in the region. I expect US stocks to open modestly lower and to
maintain losses into the afternoon. The Portfolio is 50% net long
heading into the day.
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