Monday, August 12, 2019

Tuesday Watch

Evening Headlines
Bloomberg:    
  • Stocks Slide to Extend to Asia as Treasuries Rally. Asian stocks looked set to follow their U.S. counterparts lower as political unrest in Hong Kong and Argentina added to trade concerns and fueled a rally in global bonds. The yen and gold climbed. Risk assets were pummeled and Treasury yields sank after authorities closed Hong Kong’s airport and a Chinese official said the city was at a “critical juncture.” Futures indicated markets will open lower in Tokyo when traders return from a holiday Monday, as well as in Sydney. Hong Kong futures dropped more than 1% after regular trading closed Monday. The S&P 500 Index retreated for a second day and now sits almost 5% below its all-time high. Futures on the Nikkei 225 fell 1.2% in Singapore. Hong Kong’s Hang Seng Index futures lost 1.2% earlier. Australia’s S&P/ASX 200 Index contracts declined 0.8%.  
Zero Hedge:
Night Trading 
  • Asian equity indices are -1.25% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 70.0 +3.0 basis points.
  • China Sovereign CDS 53.5 +2.75 basis points.
  • Bloomberg Emerging Markets Currency Index  65.98 -.01%.
  • FTSE 100 futures -.20%.
  • S&P 500 futures +.25%.
  • NASDAQ 100 futures +.25%.
Morning Preview Links 

Earnings of Note 
Company/Estimate

Before the Open:
  • (AAP)
  • (EAT)/1.34
  • (ELAN)/.26
  • (IIVI)/.66
  • (JD)/.54
After the Close:
  • (MYGN)/.48
  • (TLRY)/-.27
Economic Releases
6:00 am EST
  • The NFIB Small Business Optimism Index for July is estimated to rise to 104.0 versus 103.3 in June.
8:30 am EST
  • The CPI MoM for July is estimated to rise +.3% versus a +.1% gain in June.
  • The CPI Ex Food and Energy MoM for July is estimated to rise +.2% versus a +.3% gain in June.
  • Real Avg. Weekly Earnings YoY for July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone CPI report, German ZEW Index, weekly US retail sales reports, Susquehanna's Energy/Industrials/Airlines Conference, JPMorgan Auto Conference and the Wedbush PacGrow Healthcare Conference could also impact trading today.
BOTTOM LINE: Asian indices are lower, weighed down by industrial and financial shares in the region. I expect US stocks to open mixd and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

1 comment:

JC said...

Hi Gary,it has been a long time since I have commented. I have been continuing to follow your blog reading it every day. Thank you for the good work.
JC