Thursday, June 25, 2020

Friday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 86.5 +1.25 basis points.
  • China Sovereign CDS 50.25 -1.75 basis points.
  • Bloomberg Emerging Markets Currency Index 60.48 -.01%.
  • FTSE 100 futures +.85%.
  • S&P 500 futures +.12%.
  • NASDAQ 100 futures +.16%.
Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:
  • (APOG)/.19
After the Close:
  • (FIZZ)/.60
Economic Releases 
8:30 am EST
  • Personal Income for May is estimated to fall -6.0% versus a +10.5% gain in April.
  • Personal Spending for May is estimated to rise +9.0% versus a -13.6% decline in April.
  • The PCE Core MoM for May is estimated unch. versus a -.5% decline in April.
10:00 am EST
  • Final Univ. of Mich. Consumer Sentiment for June is estimated to rise to 79.2 versus 78.9 in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Mexico trade balance report could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and financial 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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