Sunday, October 13, 2019

Monday Watch

Today's Headlines
  • Stocks in Asia to Advance After Trade Progress. Asian stocks looked set to start the week higher after signs of progress in U.S.-China trade negotiations lifted U.S. equities Friday and sent Treasury yields higher, though sentiment may be capped as investors voiced skepticism on the accord. Equity futures pointed higher across Asia -- Japan will be shut for a holiday. On Friday, the S&P 500 Index climbed to within 1.8% of a record after President Donald Trump said the two sides agreed to the outlines of a deal that could be signed as early as next month. The yuan edged down after Friday’s advance. Futures on the S&P 500 Index rose 0.1% as of 6:10 a.m. in Hong Kong. The underlying gauge added 1.1% on Friday. Futures on Hong Kong’s Hang Seng Index rose 0.7%. Futures on Australia’s S&P/ASX 200 Index gained 0.5%.
Wall Street Journal:
Zero Hedge:    
Night Trading
  • Asian indices are +.5% to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 75.25 -2.75 basis points.
  • China Sovereign CDS 44.25 -2.25 basis points.
  • Bloomberg Emerging Markets Currency Index 65.64 -.01%.
  • FTSE 100 futures +.63%.
  • S&P 500 futures +.32%.
  • NASDAQ 100 futures +.38%.

Earnings of Note

Before the Open:
  • None of note
After the Close:
  • None of note
Economic Releases
  • None of note
Upcoming Splits
  • (ELS) 2-for-1
Other Potential Market Movers
  • The Eurozone Industrial Production report, WTO meeting regarding EU tariffs and the (THO) investor day 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 modestly higher and to maintain gains into the afternoon.  The Portfolio is 100% net long heading into the week.

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