Thursday, May 25, 2017

Friday Watch

Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 90.5 unch
  • Asia Pacific Sovereign CDS Index 19.25 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 73.04 -.05%.
  • S&P 500 futures -.09%.
  • NASDAQ 100 futures -.01%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (BIG)/.99
Economic Releases 
8:30 am 
  • 1Q GDP is estimated to rise +.9% versus a prior estimate of a +.7% gain.
  • 1Q Personal Consumption is estimated to rise +.4% versus a prior estimate of a +.3%  gain.
  • The 1Q GDP Price Index is estimated to rise +2.3% versus a prior estimate of a +2.3% gain.
  • The 1Q Core PCE is estimated to rise +2.0% versus a prior estimate of a +2.0% gain.
  • Preliminary Durable Goods Orders for April are estimated to fall by -1.5% versus a +1.7% gain in March.
  • Preliminary Durables Ex Transports for April are estimated to rise +.4% versus a +.8% gain in March.
  • Preliminary Cap Goods Orders Non-Defense Ex-Air for April are estimated to rise +.5% versus a +.5%Gain in March.
10:00 am EST
  • Final Univ. of Mich. Consumer Sentiment for May is estimated to fall to 97.5 versus a prior estimate of 97.7.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan inflation data could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by commodity 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 75% net long heading into the day.

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