Tuesday, February 18, 2020

Wednesday Watch

Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 47.5 -1.0 basis point.
  • China Sovereign CDS 34.5 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index  64.78 -.02%.
  • FTSE 100 futures +.56%.
  • S&P 500 futures +.21%.
  • NASDAQ 100 futures +.24%.

Earnings of Note 
Company/Estimate
Before the Open:
  • (ADI)/1.00
  • (DISH)/.54
  • (ELAN)/.23
  • (FDP)/-.03
  • (GRMN)/1.04
  • (GPC)/1.30
  • (NHI)/1.39
  • (OC)/1.13
  • (SOHU)/-.40
  • (SAH)/.88
  • (VIPS)/2.17
  • (WING)/.17
After the Close:
  • (ALB)/1.75
  • (Y)/8.51
  • (CRMT)/1.77
  • (CAR)/.50
  • (SAM)/1.75
  • (CAKE)/.61
  • (CYH)/-.46
  • (CPRT)/.66
  • (FOSL)/.77
  • (GDOT)/.11
  • (JACK)/1.38
  • (MOS)/.-.05
  • (NTES)/3.54
  • (STMP)/.98
  • (SNPS)/.92
  • (VMI)/1.84
  • (WMB)/.26
  • (ZG)/-.35
Economic Releases 
8:30 am EST
  • Housing Starts for Jan. is estimated to fall to 1425K versus 1608K in Dec.
  • Building Permits for Jan. is estimated to rise to 1450K versus 1416K in Dec.
  • PPI Final Demand MoM for Jan. is estimated to rise +.1% versus a +.1% gain in Dec.
  • PPI Ex Food and Energy MoM for Jan. is estimated to rise +.2% versus a +.1% gain in Dec.
2:00 pm EST
  • The Jan. 29 FOMC Meeting Minutes.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Barkin speaking, Fed's Kaplan speaking, Fed's Kashkari speaking, Fed's Bostic speaking, ECB decision/press conference, UK inflation data report, weekly US retail sales reports, weekly MBA Mortgage Applications report, Barclays Industrial Select Conference, Citi Industrials Conference and the (TROW) investor day could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are slightly higher, boosted by consumer and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.

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