Tuesday, December 20, 2016

Wednesday Watch

Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 123.25 unch.
  • Asia Pacific Sovereign CDS Index 37.75 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 69.36 -.05%
  • S&P 500 futures +.04%. 
  • NASDAQ 100 futures +.03%.
Morning Preview Links

Earnings of Note

  • (ACN)/1.49
  • (ATU)/.17
  • (FINL)/-.18
  • (LNN)/.62
  • (PAYX)/.56
  • (WGO)/.33
  • (AIR)/.35
  • (BBBY)/.98
  • (MLHR)/.54
  • (MU)/.29
  • (RHT)/.58
Economic Releases 
10:00 am EST
  • Existing Home Sales for November are estimated to fall to 5.5m versus 5.6m in October.
10:30 am EST
  • Bloomberg consensus estimates call for a weekly crude oil inventory decline of -2,432,500 barrels versus a -2,563,000 barrel decline the prior week. Gasoline supplies are estimated to rise by +1,033,700 barrels versus a +497,000 barrel gain the prior week. Distillate inventories are estimated to fall by -1,070,100 barrels versus a -762,000 barrel decline the prior week. Finally, Refinery Utilization is estimated to rise by +.31% versus a +.1% gain prior.
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The weekly MBA Mortgage Applications report could also impact trading today.
BOTTOM LINE:  Asian indices are slightly higher, boosted by commodity and industrial 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.

No comments: