Tuesday, December 27, 2016

Wednesday Watch

Evening Headlines
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 113.25 -1.75 basis points.
  • Asia Pacific Sovereign CDS Index 37.25 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 69.63 +.02%
  • S&P 500 futures +.11%. 
  • NASDAQ 100 futures +.18%.
Morning Preview Links

Earnings of Note

  • None of note
Economic Releases
10:00 am EST
  • Pending Home Sales MoM for November are estimated to rise +.5% versus a +.1% gain in October. 
Upcoming Splits 
  • None of note
Other Potential Market Movers
  • The UK mortgage approvals report and the $34B 5Y T-Note auction could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by commodity and technology 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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