Wednesday, September 11, 2019

Thursday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 56.50 -1.5 basis points.
  • China Sovereign CDS 38.75 -1.25 basis points.
  • Bloomberg Emerging Markets Currency Index  65.71 +.05%.
  • FTSE 100 futures +.57%.
  • S&P 500 futures +.50%.
  • NASDAQ 100 futures +.76%.

Earnings of Note 

Before the Open:
  • (DLTH)/.11
  • (KR)/.41
  • (MCFT)/.81
After the Close:
  • (AVGO)/5.13
  • (ORCL)/.81
Economic Releases
8:30 am EST
  • The CPI MoM for August is estimated to rise +.1% versus a +.3% gain in July.
  • The CPI Ex Food and Energy MoM for August is estimated to rise +.2% versus a +.3% gain in July. 
  • Real Avg. Weekly Earnings YoY for August.
  • Initial Jobless Claims for last week are estimated to fall to 215K versus 217K the prior week.
  • Continuing Claims are estimated to rise to 1675K versus 1662K prior.
2:00 pm EST
  • The Monthly Budget Statement for Aug. is estimated at -$197.5B versus -$119.7B in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ECB rate decision, Eurozone Industrial Production report, ECB Press Conference, $16B 30Y T-Bond auction, weekly EIA natural gas inventory report, weekly Bloomberg Consumer Comfort Index, Democratic Presidential debate, (USB) investor day, (CRM) investor meeting, (CRL) investor day and the (MA) investment community meeting could also impact trading today.
BOTTOM LINE: Asian indices are higher, boosted by technology and industrial shares in the region. I expect US stocks to open higher and to maintain gains into the afternoon. The Portfolio is 100% net long heading into the day.

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