Tuesday, November 21, 2017

Wednesday Watch

Night Trading 
  • Asian equity indices are +.50% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 77.0 -1.5 basis points. 
  • Asia Pacific Sovereign CDS Index 15.50 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 72.83 +.04%.
  • S&P 500 futures +.05%.
  • NASDAQ 100 futures +.09%.
Morning Preview Links

Earnings of Note
  • (DE)/1.43
  • (RMAX)/.51
  • (SFL)/.27
Economic Releases 
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 240K versus 249K the prior week.
  • Continuing Claims are estimated to rise to 1880K versus 1860K prior.
  • Durable Goods Orders for October are estimated to rise +.3% versus a +2.0% gain in September.
  • Durables Ex Transports for October are estimated to rise +.5% versus a +.7% gain in September.
  • Cap Goods Orders Non-Defense Ex-Air for October are estimated to rise +.6% versu sa +1.7% gain in September.
10:00 am EST
  • Final Univ. of Mich. Consumer Sentiment for November is estimated to rise to 98.0 versus 97.8 in October.
2:00 pm EST
  • FOMC Meeting Minutes.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Australia Construction Orders report, weekly Bloomberg Consumer Comfort Index and weekly MBA Mortgage Applications report could also impact trading today.
BOTTOM LINE:  Asian indices are higher, boosted by industrial and technology 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.

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