Wednesday, May 08, 2019

Thursday Watch

Night Trading 
  • Asian equity indices are -1.5% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 70.75 +2.25 basis points.
  • China Sovereign CDS 46.75 +1.5 basis points.
  • Bloomberg Emerging Markets Currency Index 66.04 -.08%.
  • S&P 500 futures -.55%.
  • NASDAQ 100 futures -.62%.

Earnings of Note 
Before the Open:
  • (BDX)/2.59
  • (CAH)/1.42
  • (CHH)/.75
  • (DUK)/1.25
  • (ELAN)/.23
  • (HAIN)/.21
  • (OSTK)/-.75
  • (SUP)/-.14
  • (TTD)/.24
  • (WWW)/.47
After the Close:
  • (DBX)/.06
  • (NWSA)/.00
  • (SYMC)/.39
  • (WYNN)/1.58
  • (YELP)/.28
  • (ZG)/-.19
Economic Releases
8:30 am EST
  • PPI Final Demand MoM for April is estimated to rise +.3% versus a +.6% gain in March.
  • PPI Ex Food and Energy MoM for April is estimated to rise +.2% versus a +.3% gain in March.
  • The Trade Deficit for March is estimated at -$50.1B versus -$49.4B in February.
  • Initial Jobless Claims for last week are estimated to fall to 220K versus 230K the prior week.
  • Continuing Claims are estimated to fall to 1670K versus 1671K prior.
10:00 am EST
  • Wholesale Trade Sales MoM for March is estimated to rise +.6% versus a +.3% gain in February.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The trade talks with Chinese Vice Premier Liu, Fed's Powell speaking, Fed's Evans speaking, Fed's Bostic speaking, China CPI report, House Hearing on drug pricing, 30Y T-Note auction, Bloomberg May US Economic Survey, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory data, Citi Car of the Future Symposium, (PRGO) investor day and the (FOXA) 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 lower and to maintain losses into the afternoon. The Portfolio is 50% net long heading into the day.

No comments: