Sunday, August 18, 2019

Monday Watch

Today's Headlines
  • Asia Stocks Set to Start Week Higher; Yen Flat. Stocks in Asia were set for gains Monday following a bounce in U.S. equities as traders kick off a busy week for economic data and await commentary from the Federal Reserve chief. Futures pointed higher in Japan, Hong Kong and Australia. U.S. contracts rose after a positive close in the S&P 500 Index helped by speculation European officials will bolster stimulus if growth in the region continues to sputter. Treasuries yields recovered from multiyear lows Friday, after an inversion in the yield curve earlier in the week. The yen and yuan were steady early Monday. The S&P 500 Index gained 1.4%. Futures climbed 0.4% as of 8:25 a.m. in Tokyo. Futures on Japan’s Nikkei 225 rose 0.8%. Hang Seng futures earlier advanced 0.2%. Futures on Australia’s S&P/ASX 200 Index added 0.6%.  
Zero Hedge:    
Night Trading
  • Asian indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 66.50 -3.5 basis points.
  • China Sovereign CDS 52.0 -4.0 basis points.
  • Bloomberg Emerging Markets Currency Index 65.71 +.01%.
  • FTSE 100 futures +.29%.
  • S&P 500 futures +.37%.
  • NASDAQ 100 futures +.42%.

Earnings of Note

Before the Open:
  • (EL)/.54
  • (SINA)/.51
  • (WB)/.60
After the Close:
  • (BIDU)/.92
  • (FN)/.94
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone CPI report could also impact trading today.
BOTTOM LINE: Asian indices are higher, boosted by commodity and industrial 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 week.

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