Monday Watch

Today's Headlines

Bloomberg: 

• Hong Kong Opposition Primaries Draw More Voters Than Expected.

• Europe Looks to ‘Messy’ Earnings That May Test Market’s Optimism.  

• Italy’s Bonds Are Euro Area’s ‘High-Yielding Play’ of the Summer.  

• Middle Eastern Markets Climb With Oil, Stimulus Eyed: Inside EM.  

• Push to Reopen U.S. Schools; New York Cases Steady: Virus Update.  

• Tesla Shaves $3,000 Off Model Y Price Months After Sales Start.  

• U.S. Education Chief DeVos Downplays Risk of Opening Schools.

Wall Street Journal:

• Connecticut Bet Big on the Suburbs. That Might Finally Pay Off.

• Coronavirus Clouds Earnings Outlook for Investors, Analysts.

• Fed, Treasury Disagreements Slowed Lending Plan.

• Political Neutrality Is What Made American Newspapers Great.

• How to Show That Black Lives Really Matter.

• Seattle’s Tax on Job Creation.

• OPEC, Allies Set to Ease Oil Cuts .

• Why China Isn’t Expected to Power a Global Recovery.

Barron's:

• Had bullish commentary on (AGR), (HRI), (TT), (NEP), (YETI), (REAL), (JWN) and (NOK).

• Had bearish commentary on (AAPL) and (NFLX).

Fox News:

• Conservatives rally around Goya amid calls for boycott over CEO's pro-Trump remarks.

• Protests providing ‘a setup’ to spread virus, Dr. Atlas says – but another factor is key as well.

• Mail carrier admits to altering mail-in requests to absentee ballots.

Zero Hedge: 

• Communist China's Silent War Against America.

• "Extremely Worrying": Nearly 90% Of Discharged COVID-19 Patients Have Symptoms Two Months After Falling Ill.

• Trump Admin Tells Minnesota Governor To Get Bent Over $16 Million Aid Request Following Riots.

• Coronavirus: The Under-40s Dilemma.

• The New Deal Is A Bad Old Deal.

• LA Teachers Union Says Schools Can't Reopen Unless Charter Schools Get Shut-Down, Police Defunded.

• World Economic Forum: The Institution Behind "The Great Reset".

• The Delusion Of A Seamless Reopening Is Being Obliterated.

• For First Time Since The Great Depression, Americans Must Wait In Line For The Most Basic Essential Items.

• Official COVID-19 Statistics Are Missing Something Critical.

• Shocking Video Shows Deranged Man Stabbing Multiple People On NYC Subway .

• Nordstrom Tells Landlords To Expect Just Half Their Rent Until January 2021.

• Trump: Something Big Will Happen With Venezuela & "We'll Be Very Much Involved".

• How The Pentagon Failed To Sell 'Bountygate' Hoax To US Intelligence.

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading

• Asian indices are n/a to n/a on average.

• Asia Ex-Japan Investment Grade CDS Index 80.75 n/a.

• China Sovereign CDS 45.25 n/a.

• Bloomberg Emerging Markets Currency Index 60.59 n/a.

• FTSE 100 futures n/a.

• S&P 500 futures n/a.

• NASDAQ 100 futures n/a.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (PEP)/1.25

After the Close:

• None of note

Economic Releases
2:00 pm EST

• The Monthly Budget Statement for June is estimated at -$863,0B versus -$398.8B in May.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The China Trade Balance report could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: I expect US stocks to open modestly higher and to maintain gains into the afternoon.  The Portfolio is 50% net long heading into the week.