Thursday, December 29, 2016

Friday Watch

Evening Headlines
Wall Street Journal:
Zero Hedge:
Business Insider:
Night Trading 
  • Asian equity indices are -.50% to -.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 121.75 +.5 basis point.
  • Asia Pacific Sovereign CDS Index 37.75 unch.
  • Bloomberg Emerging Markets Currency Index 69.97 +.26%
  • S&P 500 futures +.04%. 
  • NASDAQ 100 futures +.08%.
Morning Preview Links

Earnings of Note

  • None of note
Economic Releases
9:45 am EST
  • Chicago Purchasing Manager for December is estimated to fall to 57.0 versus 57.6 in November.     
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The China Current Account Balance report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by industrial and financial 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.

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