Thursday, January 02, 2020

Friday Watch

Night Trading 
  • Asian equity indices are +.5% to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 53.0 unch.
  • China Sovereign CDS 30.75 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index  66.76 +.01%.
  • FTSE 100 futures +.36%.
  • S&P 500 futures +.07%.
  • NASDAQ 100 futures +.08%.

Earnings of Note 
Company/Estimate
Before the Open:
  • (LW)/.86
After the Close:
  • None of note
Economic Releases  
10:00 am EST
  • Construction Spending MoM for Nov. is estimated to rise +.4% versus a -.8% decline in Oct.
  • ISM Manufacturing for Dec. is estimated to rise to 49.0 versus 48.1 in Nov.
  • ISM Prices Paid for Dec. is estimated to rise to 47.5 versus 46.7 in Nov.
2:00 pm EST
  • FOMC Dec. 11th Meeting Minutes.
Afternoon:
  • Wards Total Vehicle Sales for Dec. is estimated to fall to 17.0M versus 17.09M in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German Unemployment rate could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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