Thursday, March 12, 2020

Friday Watch

Night Trading 
  • Asian equity indices are -6.5% to -5.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 164.0 +54.5 basis points.
  • China Sovereign CDS 84.75 +12.25 basis points.
  • Bloomberg Emerging Markets Currency Index  60.82 -.26%.
  • Euro Stoxx 50 futures -3.5%.
  • S&P 500 futures -1.5%.
  • NASDAQ 100 futures -2.3%.

Earnings of Note 
Company/Estimate
Before the Open:
  • (BKE)/.87
  • (JBL)/.67
  • (KKS)/1.45
  • (LK)/-.13
  • (OSTK)/-.47
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Import Price Index MoM for Feb. is estimated to fall -1.0% versus unch. in Jan.
  • The Export Price Index MoM for Feb. is estimated to fall -.4% versus a +.7% gain in Jan.
10:00 am EST
  • Preliminary Univ. of Mich. Consumer Sentiment for March is estimated to fall to 95.0 versus 101.0 in Feb.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German IFO Business Climate Index, Bloomberg US Economic Survey for March and the (ITW) investor day could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are sharply lower, weighed down by technology and industrial shares in the region. The Portfolio is 25% net long heading into the day.

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