Sunday, June 02, 2019

Monday Watch

Night Trading
  • Asian indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 81.0 +4.25 basis points.
  • China Sovereign CDS 61.25 +4.25 basis points.
  • Bloomberg Emerging Markets Currency Index 65.98 +.14%.
  • FTSE 100 futures -.46%.
  • S&P 500 futures -.57%.
  • NASDAQ 100 futures -.78%.

Earnings of Note
Company/Estimate

Before the Open:
  • (BOX)/-.05
  • (COUP)/-.04
After the Close:
  • None of note
Economic Releases
10:00 am EST
  • The ISM Manufacturing Index for May is estimated to rise to 53.0 versus 52.8 in April.
  • The ISM Prices Paid Index for May is estimated to rise to 51.0 versus 50.0 in April.
  • Construction Spending MoM for April is estimated to rise +.5% versus a -.9% decline in March.
Afternoon
  • Wards Total Vehicle Sales for May is estimated to rise to 16.8M versus 16.4M in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The President's visit to the UK, Fed's Bullard speaking, China Manufacturing PMI report, Eurozone PMI report, Goldman Lodging/Gaming/Restaurant/Leisure Conference, (AAPL) WWDC 2019 and the BIO International Convention could also impact trading today.
BOTTOM LINE: Asian indices are mostly 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 25% net long heading into the week.

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