Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 75.0 +.25 basis point.
- China Sovereign CDS 44.25 +.25 basis point.
- Bloomberg Emerging Markets Currency Index 61.33 -.03%.
- FTSE 100 futures -.27%.
- NASDAQ 100 futures +.09%.
Morning Preview Links
Earnings of Note
Company/Estimate
Before the Open:
- (AAN)/.82
- (ADP)/.96
- (BA)/-2.63
- (BSX)/-.02
- (BCO)/-.12
- (BG)/1.31
- (CME)/1.64
- (DISH)/.57
- (ETN)/.53
- (FSS)/.31
- (FDP)/.63
- (GD)/2.17
- (GE)/-.09
- (GM)/-1.76
- (HES)/-1.12
- (LHX)/2.58
- (NSC)/1.36
- (OC)/.28
- (R)/-1.31
- (SMG)/3.43
- (SHOP)/.01
- (SPOT)/-.36
- (TROW)/2.03
- (UTHR)/3.28
- (WING)/.29
After the Close:
- (AEM)/.17
- (NLY)/.22
- (APA)/-1.01
- (ADM)/.51
- (AVB)/2.27
- (CERN)/.61
- (CAKE)/-1.10
- (CGNX)/.11
- (CTSH)/.69
- (CCI)/1.43
- (KLIC)/.15
- (LRCX)/3.91
- (ORLY)/4.10
- (PYPL)/.88
- (PPC)/.12
- (QCOM)/.71
- (RJF)/.97
- (NOW)/1.02
- (SFM)/.38
- (RGR)/1.23
- (TDOC)/-.22
- (URI)/1.93
- (WERN)/.40
- (YUMC)/.23
Economic Releases
8:30 am EST
- Advance Goods Trade Balance for June is estimated at -$75.4B versus -$74.3B in May.
- Wholesale Inventories MoM for June is estimated to fall -.5% versus a -1.2% decline in May.
- Retail Inventories MoM for June is estimated to fall -2.7% versus a -6.1% decline in May.
10:00 am EST
- Pending Home Sales MoM for June is estimated to rise +15.0% versus a +44.3% gain in May.
10:30 am EST
- Bloomberg
consensus estimates call for a weekly crude oil inventory decline of
-171,270 barrels versus a +4,892,000 barrel gain the prior week.
Gasoline supplies are estimated to fall by -1,195,640 barrels versus a
-1,802,000 barrel decline the prior week. Distillate inventories are
estimated to rise by +533,820 barrels versus a +1,074,000 barrel gain
the prior week. Finally, Refinery Utilization is estimated to rise by
+.37% versus a -.2% decline prior.
2:00 pm EST
- The FOMC is expected to leave the benchmark Fed Funds Rate at .00%-.25%.
Upcoming Splits
Other Potential Market Movers
- The
FOMC press conference, House Hearing on Internet Platforms, UK Housing
Data report and the weekly MBA Mortgage Applications report could also
impact trading today.
Market Hours
Normal:
BOTTOM LINE:
Asian indices are mostly lower, weighed down by industrial and
technology shares in the region. I expect US stocks to open mixed and to
weaken into the afternoon, finishing modestly lower. The Portfolio is
50% net long heading into the day.
