Monday, November 27, 2017

Tuesday Watch

Night Trading 
  • Asian equity indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 74.50 -2.25 basis point
  • Asia Pacific Sovereign CDS Index 14.25 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 73.39 -.03%.
  • S&P 500 futures -.1%.
  • NASDAQ 100 futures -.1%.
Morning Preview Links

Earnings of Note
  • (CBK)/-.08
  • (ADSK)/-.13
  • (CENT)/.09
  • (MRVL)/.33
  • (NUAN)/.15
Economic Releases 
8:30 am EST
  • Advance Goods Trade Balance for October is estimated at -$65.0B versus -$64.1B in September.
  • Wholesale Inventories MoM for October is estimated to rise +.4% versus a +.3% gain in September.
9:00 am EST
  • The FHFA House Price Index for September is estimated to rise +.5% versus a +.7% gain in August.
  • S&P CoreLogic CS 20-City MoM for September is estimated to rise +.3% versus a +.45% gain in August.
10:00 am EST
  • The Conference Board Consumer Confidence Index for November is estimated to fall to 124.0 versus 125.9 in October.
  • The Richmond Fed Manufacturing Index for November is estimated to rise to 14.0 versus 12.0 in October.
Upcoming Splits
  • (CGNX) 2-for-1
Other Potential Market Movers
  • The Jerome Powell Fed Chair Confirmation Hearing, $28B 7Y T-Note auction, NRF release of Thanksgiving weekend sales data, weekly US retail sales reports, Germany GfK Consumer Confidence report, Piper Jaffray Healthcare Conference, Citi Basic Materials Conference, CSFB Aerospace Industrials Conference and the (UNH) Investor Conference could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by energy and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the day.

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