Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 55.25 -1.5 basis points.
- China Sovereign CDS 32.25 -.75 basis point.
- Bloomberg Emerging Markets Currency Index 66.27 +.03%.
- FTSE 100 futures +.05%.
- S&P 500 futures -.05%.
- NASDAQ 100 futures -.04%.
Earnings of Note
Company/Estimate
Before the Open:
- (ACN)/1.99
- (APOG)/.76
- (CAG)/.57
- (DRI)/1.07
- (RAD)/.15
- (SAFM)/-1.01
After the Close:
- (NKE)/.58
- (SCHL)/1.77
- (AIR)/.60
Economic Releases
8:30 am EST
- The Current Account Deficit for 3Q is estimated at -$122.0B versus -$128.2B in 2Q.
- The Philly Fed Business Outlook Index for Dec. is estimated to fall to 8.0 versus 10.4 in Nov.
- Initial Jobless Claims for last week are estimated to fall to 225K versus 252K the prior week.
- Continuing Claims are estimated to rise to 1676K versus 1667K prior.
10:00 am EST
- The Leading Index for Nov. is estimated to rise +.1% versus a -.1% decline in Oct.
- Existing Home Sales for Nov. is estimated to fall to 5.44M versus 5.46M in Oct.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Japan Inflation Data report, Bloomberg Economic Expectations Index for Dec., weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report and the (MCK) sell-side analyst meeting could also impact trading today.
BOTTOM LINE:
Asian indices are slightly lower, weighed down by consumer 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
100% net long heading into the day.
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