Thursday, January 09, 2020

Friday Watch

Night Trading 
  • Asian equity indices are +.5% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 54.0 -.75 basis point.
  • China Sovereign CDS 30.75  -.5 basis point.
  • Bloomberg Emerging Markets Currency Index  66.58 unch.
  • FTSE 100 futures n/a.
  • S&P 500 futures +.21%.
  • NASDAQ 100 futures +.25%.

Earnings of Note 
Company/Estimate
Before the Open:
  • (INFY)/9.78
After the Close:
  • None of note
Economic Releases  
8:30 am EST
  • The Change in Non-Farm Payrolls for Dec. is estimated to fall to 160K versus 266K in Nov.
  • The Unemployment Rate for Dec. is estimated at 3.5% versus 3.5% in Nov.
  • Average Hourly Earnings MoM for Dec. is estimated to rise +.3% versus a +.2% gain in Nov.
10:00 am EST
  • Wholesale Trade Sales MoM for Nov. is estimated to rise +.2% versus a -.7% decline in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The UK Trade Balance report, Bloomberg US Economic Survey for Jan. and the (FDX) Jan. economic update could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by technology 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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