Night Trading
- Asian equity indices are -.25% to +.15% on average.
- Asia Ex-Japan Investment Grade CDS Index 75.75 +1.0 basis point.
- China Sovereign CDS 47.25 -1.0 basis point.
- Bloomberg Emerging Markets Currency Index 65.46 +.01%.
- FTSE 100 futures +.16%.
- S&P 500 futures -.05%.
- NASDAQ 100 futures -.10%.
Earnings of Note
Company/Estimate
Before the Open:
- (ACN)/1.71
- (ATU)/.18
- (CAG)/.39
- (FDS)/2.46
After the Close:
- (CAMP)/.12
- (MU)/.48
- (PRGS)/.68
- (MTN)/-2.56
Economic Releases
8:30 am EST
- Advance Goods Trade Balance for Aug. is estimated at -$73.4B versus -$72.3B in July.
- Retail Inventories MoM for August is estimated to rise +.1% versus a +.8% gain in July.
- Wholesale Inventories MoM for Aug. is estimated to rise +.1% versus a +.2% gain in July.
- Initial Jobless Claims for last week are estimated to rise to 212K versus 208K the prior week.
- Continuing Claims are estimated to rise to 1666K versus 1661K prior.
10:00 am EST
- Pending Home Sales MoM for Aug. is estimated to rise +1.0% versus a -2.5% decline in July.
11:00 am EST
- Kansas City Fed Manufacturing Activity for Sept. is estimated to rise to -4 versus -6 in Aug.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Vice Chair Clarida speaking, Japan CPI report, $32B 7Y T-Note auction, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, (BAM) investor day and (DELL) business update could also impact trading today.
BOTTOM LINE:
Asian indices are mostly higher, boosted by technology and industrial
shares in the region. I expect US stocks to open mixed and to rally into
the afternoon, finishing modestly higher. The Portfolio is 75% net long
heading into the day.
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