Monday, January 20, 2020

Tuesday Watch

Today's Headlines
Bloomberg:
  • Stocks Edge Lower With U.S. Futures; Oil Climbs. European stocks and U.S. equity futures edged lower on Monday as investors awaited a fresh batch of corporate earnings and some key central bank meetings this week. Crude oil rose following supply disruptions in Libya and Iraq. Activity was muted across most major markets because of a U.S. holiday. The Stoxx Europe 600 Index trimmed an earlier decline, though it remained modestly lower after spending the morning in the red. Contracts on the main American equity benchmarks also pared some earlier losses. Equities advanced in most of Asia, though shares slumped in Hong Kong and India. European bonds were mixed and range-bound, while the pound was slightly weaker ahead of U.K. jobs data due tomorrow. Brent crude jumped back above $65 a barrel as unrest hit key production regions. Iraq temporarily stopped output at an oil field on Sunday, while Libyan production almost ground to a halt after armed forces shut down a pipeline. Futures on the S&P 500 Index dipped 0.1% as of 1:45 p.m. London time. The Stoxx Europe 600 Index dipped 0.2%. The MSCI Asia Pacific Index was little changed. The MSCI Emerging Market Index decreased 0.1%.  
Wall Street Journal:
CNBC:
Zero Hedge: 
Night Trading
  • Asian indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 50.5 -1.0 basis point.
  • China Sovereign CDS 29.5 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 66.30 -.03%.
  • FTSE 100 futures -.35%.
  • S&P 500 futures +.01%.
  • NASDAQ 100 futures +.01%.

Earnings of Note
Company/Estimate

Before the Open:
  • (CMA)/1.75
  • (HAL)/.29
  • (PETS)/.30
After the Close:
  • (COF)/2.37
  • (IBM)/4.69
  • (NFLX)/.52
  • (AMTD)/.77
  • (UAL)/2.64
  • (ZION)/1.10
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The President's speech to World Economic Forum and the Eurozone ZEW Index could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are slightly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the week.

Weekly Outlook

BOTTOM LINE: I expect US stocks to finish the week mixed as global growth optimism, earnings outlooks and oil strength offset technical selling, less dovish FOMC commentary and profit-taking. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week.

Sunday, January 19, 2020

Today's Headlines

CNBC:
MarketWatch.com:  
Zero Hedge:

Saturday, January 18, 2020

Today's Headlines

Barron's:
  • Had bullish commentary on (DIS), (TSLA), (GSK), (BBBY), (RDFN), (C), (BIDU) and (SPOT).
  • Had bearish commentary on (AAPL) and (EBAY).
MarketWatch.com:
Zero Hedge: