Monday, July 22, 2019

Tuesday Watch

Evening Headlines
Bloomberg:
  • Asia Stocks Edge Higher on Low Volumes; Oil Steady. Asian stocks opened modestly higher as investors brace for a busy week of U.S. corporate earnings and potential developments in trade negotiations. Oil stabilized after recent gains amid tensions in the Persian Gulf. Shares in Japan, Australia and South Korea edged higher. U.S. futures were little changed after gains in technology shares lifted stocks earlier. Trading has been thin across the region, with volumes below average. Treasury yields were little changed. The New Zealand dollar slipped after comments on monetary policy from the central bank. Japan’s Topix index was little changed as of 9:11 a.m. in Tokyo. Australia’s S&P/ASX 200 Index rose 0.2%. South Korea’s Kospi index added 0.2%. Hang Seng Index futures were little changed. S&P 500 Index futures were flat.  
Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 63.0 -1.0 basis point.
  • China Sovereign CDS 42.0 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index  67.72 -.04%.
  • S&P 500 futures +.10%.
  • NASDAQ 100 futures +.12%.
Morning Preview Links 

Earnings of Note 
Company/Estimate
Before the Open:
  • (ATI)/.34
  • (AN)/1.07
  • (BIIB)/7.53
  • (KO)/.62
  • (FITB)/.66
  • (HOG)/1.39
  • (HAS)/.50
  • (JBLU)/.57
  • (KMB)/1.62
  • (LMT)/4.75
  • (MLM)/3.12
  • (PCAR)/1.81
  • (PII)/1.65
  • (PHM)/.82
  • (DGX)/1.68
  • (SHW)/6.36
  • (SWK)/2.55
  • (TRV)/2.30
  • (UTX)/2.05
After the Close:
  • (CSL)/2.36
  • (CMG)/3.76
  • (CB)/2.56
  • (EEFT)/1.70
  • (IRBT)/.18
  • (MANH)/.35
  • (RHI)/.98
  • (TER)/.62
  • (TXN)/1.26
  • (V)/1.32
Economic Releases
9:00 am EST
  • The FHFA House Price Index MoM for May is estimated to rise +.4% versus a +.4% gain in April.
10:00 am EST
  • The Richmond Fed Manufacturing Index for July is estimated to rise to 5.0 versus 3.0 in June. 
  • Existing Home Sales MoM for June is estimated to fall -.3% versus a +2.5% gain in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Consumer Confidence report, Japan Machine Orders report, US weekly retail sales reports and the $40B 2Y T-Note auction could also impact trading today.
BOTTOM LINE: Asian indices are higher, boosted by industrial and technology shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

1 comment:

Karen G said...

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