Sunday, November 17, 2019

Monday Watch

Today's Headlines
Bloomberg:
  • Asia Stocks See Muted Start; Treasuries Hold Gains. Stocks saw a muted open to the week in Asia as investors await fresh developments on the U.S.-China trade front. Treasuries stabilized after advancing last week. Japanese and South Korean equities were little changed in early trading, while those in Australia dropped. U.S. futures were flat after the S&P 500 Index on Friday reached another record in a sixth week of gains, the longest streak in two years. White House economic adviser Larry Kudlow’s comment that U.S.-China talks were nearing final stages had given markets impetus Friday, though a mixed bag of retail sales and factory numbers in the U.S. weighed on the dollar. The Topix index was flat as of 9:11 a.m. in Tokyo. Australia’s S&P/ASX 200 Index dropped 0.5%. Hong Kong’s Hang Seng Index futures added 0.4% earlier. Futures on the S&P 500 Index were little changed.  
Wall Street Journal:
MarketWatch.com:
Fox News:
Zero Hedge:        
Night Trading
  • Asian indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 63.75 -.5 basis point.
  • China Sovereign CDS 38.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 65.68 unch.
  • FTSE 100 futures +.09%.
  • S&P 500 futures -.04%.
  • NASDAQ 100 futures -.02%.

Earnings of Note
Company/Estimate

Before the Open:
  • None of Note
After the Close:
  • (CRMT)/1.77
Economic Releases
10:00 am EST
  • The NAHB Housing Market Index for November is estimated at 71.0 versus 71.0 in October.
4:00 pm EST
  • Net Long-Term TIC Flows for September.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The RBA Minutes, JPMorgan TMT Conference and the (LRG) investor day could also impact trading today.
BOTTOM LINE: Asian indices are slightly lower, weighed down by commodity and consumer shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the week.

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