Monday, May 15, 2017

Tuesday Watch

Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 89.25 +.5 basis point
  • Asia Pacific Sovereign CDS Index 20.5 unch.
  • Bloomberg Emerging Markets Currency Index 72.94 +.08%.
  • S&P 500 futures +.01%. 
  • NASDAQ 100 futures +.04%.
Morning Preview Links

Earnings of Note
  • (DKS)/.54
  • (HD)/1.61
  • (SINA)/.26
  • (SPLS)/.17
  • (SSYS)/.05
  • (TJX)/.79
  • (WB)/.21
  • (JACK)/.91
  • (RRGB)/.57
  • (URBN)/.16
Economic Releases  
8:30 am EST
  • Housing Starts for April are estimated to rise to 1260K versus 1251K in March.
  • Building Permits for April are estimated to rise to 1270K versus 1260K in March.
9:15 am EST
  • Industrial Production MoM for April is estimated to rise +.4% versus a +.5% gain in March.
  • Capacity Utilization for April is estimated to rise to 76.3% versus 76.1% in March.
  • Manufacturing Production for April is estimated to rise +.4% versus a -.4% decline in March.
10:00 am EST
  • 1Q Mortgage Foreclosures.
  • 1Q Mortgage Delinquencies.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Trade Balance report, UK CPI report, US weekly retail sales reports, BofA Merrill Mining/Metals/Steel conference, Goldman Sachs Basic Materials conference, BofA Merrill Healthcare conference, Oppenheimer Tech/Internet/Communications conference, Needham Emerging Technology conference, (CAR) annual meeting, (AGN) investor day, (MAS) investor day and the (AMD) analyst day could also impact trading today.
BOTTOM LINE:  Asian indices are modestly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.

No comments: