Night Trading
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 56.75 -2.75 basis points.
- China Sovereign CDS 33.0 -.5 basis point.
- Bloomberg Emerging Markets Currency Index 66.27 -.06%.
- FTSE 100 futures +.02%.
- S&P 500 futures -.01%.
- NASDAQ 100 futures -.02%.
Earnings of Note
Company/Estimate
Before the Open:
- (GIS)/.88
- (PAYX)/.68
- (TTC)/.45
After the Close:
- (ABM)/.63
- (MLHR)/.87
- (MU)/.48
Economic Releases
10:30 am EST
- Bloomberg
consensus estimates call for a weekly crude oil inventory decline of
-2,040,000 barrels versus a +822,000 barrel gain the prior week.
Gasoline supplies are estimated to rise by +2,062,500 barrels versus a
+5,405,000 barrel gain the prior week. Distillate inventories are
estimated to fall by -162,500 barrels versus a +4,118,000 barrel gain
the prior week. Finally, Refinery Utilization is estimated to rise by
+.79% versus a -1.3% decline prior.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Brainard speaking, UK Inflation Data report, weekly MBA Mortgage Applications report and the (AJG) investor meeting could also impact trading today.
BOTTOM LINE:
Asian indices are mostly higher higher, boosted by commodity and
technology 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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