Thursday, June 13, 2013

Friday Watch

Night Trading
  • Asian equity indices are unch. to +2.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 137.50 -5.0 basis points.
  • Asia Pacific Sovereign CDS Index 113.25 -5.75 basis points.
  • FTSE-100 futures +.39%.
  • S&P 500 futures -.28%.
  • NASDAQ 100 futures -.14%.
Morning Preview Links

Earnings of Note

Company/Estimate
  • (SFD)/.42
Economic Releases
8:30 am EST
  • The Producer Price Index for May is estimated to rise +.1% versus a -.7% decline in April.
  • The PPI Ex Food & Energy for May is estimated to rise +.1% versus a +.1% gain in April.
  • The 1Q Current Account Deficit is estimated to widen to -$111.3B versus -$110.4B in 4Q.
9:15 am EST
  • Industrial Production for May is estimated to rise +.2% versus a -.5% decline in April.
  • Capacity Utilization for May is estimated at 77.8% versus 77.8% in April.
  • Manufacturing Production for May is estimated to rise +.1% versus a -.4% decline in April.
9:55 am EST
  •  Preliminary Univ. of Mich. Consumer Confidence for June is estimated at 84.5 versus 84.5 in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Inflation data and Net Long-Term TIC Flows for April could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity 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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