Evening Headlines
Bloomberg:
- Asian Stocks Gain on Trade Deal; Yen Advances. Asian stocks climbed, tracking gains in U.S. shares, after President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war. The yen climbed and the dollar retained its losses. Equities from Tokyo to Hong Kong advanced after the S&P 500 Index rose to within 1 percent of a fresh record high, with the two sides agreeing to suspend new tariffs while negotiating over trade. The yield on 10-year Treasuries edged lower while the Japanese equivalent ticked up to levels matching those reached at the start of this week amid speculation the Bank of Japan is paving the way for a change in policy. The offshore yuan strengthened amid signs of further policy easing. Weak sales at Facebook dragged Nasdaq futures lower. Japan’s Topix index rose 0.8 percent as of 10:30 a.m. in Tokyo. Hong Kong’s Hang Seng Index gained 0.6 percent. The Shanghai Composite rose 0.1 percent. Australia’s S&P/ASX 200 Index fell 0.2 percent. South Korea’s Kospi index rose 0.9 percent. Futures on the S&P 500 Index slid 0.1 percent after the underlying gauge gained 0.9 percent Wednesday. Nasdaq futures sank 0.6 percent.
CNBC:
Zero Hedge:
Business Insider:
Night Trading
Earnings of Note
Company/Estimate
Before the Open:
Night Trading
- Asian equity indices are unch. to +.50% on average.
- Asia Ex-Japan Investment Grade CDS Index 78.75 -4.25 basis points.
- Asia Pacific Sovereign CDS Index 12.75 +.25 basis point.
- Bloomberg Emerging Markets Currency Index 70.17 +.08%.
- FTSE 100 futures +.24%
- S&P 500 futures -.17%.
- NASDAQ 100 futures -.67%.
Earnings of Note
Company/Estimate
Before the Open:
- (APD)/1.84
- (ALK)/1.63
- (ALXN)/1.70
- (AB)/.59
- (MO)/1.00
- (AAL)/1.59
- (BUD)/1.12
- (BAX)/.71
- (BWA)/1.10
- (BMY)/.87
- (CELG)/2.11
- (CME)/1.72
- (CMCSA)/.60
- (COP)/1.10
- (DHI)/1.08
- (IP)/1.10
- (LLL)/2.30
- (LEA)/4.99
- (MA)/2.53
- (MLM)/2.87
- (MCD)/1.92
- (MCK)/2.89
- (NEM)/.24
- (PX)/1.70
- (PHM)/.74
- (RTN)/2.36
- (LUV/1.24
- (UA)/-.08
- (VLO)/1.98
After the Close:
8:30 am EST
- (AFL)/.99
- (AMZN)/2.53
- (AMGN)3.56
- (BZH)/.39
- (CMG)/2.81
- (DECK)-1.42
- (EA)/.06
- (EXPE)/.90
- (FII)/.59
- (FSLR)/-.03
- (INTC)/.97
- (JNPR)/.44
- (LRCX)/4.94
- (SBUX)/.60
- (WDC)/3.51
8:30 am EST
- Advance Goods Trade Balance for June is estimated at -$67.0B versus -$64.8B in May.
- Preliminary Wholesale Inventories MoM for June is estimated to rise +.3% versus a +.6% gain in May.
- Retail Inventories MoM for June.
- Initial Jobless Claims for last week are estimated to rise to 215K versus 207K the prior week.
- Continuing Claims are estimated to fall to 1733K versus 1751K prior.
- Durable Goods Orders for June are estimated to rise +3.0% versus a -.4% decline in May.
- Durables Ex Transports for June are estimated to rise +.5% versus unch. in May.
- Cap Goods Orders Non-Defense Ex-Air for June are estimated to rise +.5% versus a +.3% gain in May.
- The Kansas City Fed Manufacturing Activity Index for July is estimated to fall to 25.0 versus 28.0 om June.
- None of note
Other Potential Market Movers
- The ECB Rate Decision/Press Conference, Japan CPI report, Australian Import/Export Price reports, weekly Bloomberg Consumer Comfort Index and the $30B 7Y T-Note auction could also impact trading today.