Thursday, December 07, 2017

Friday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 73.25 unch
  • Asia Pacific Sovereign CDS Index 14.25 +.25 basis point
  • Bloomberg Emerging Markets Currency Index 72.89 -.03%.
  • S&P 500 futures +.01%.
  • NASDAQ 100 futures +.09%.
Morning Preview Links

Earnings of Note
  • None of note
Economic Releases
8:30 am EST:
  • The Change in Non-Farm Payrolls for November is estimated to fall to 195K versus 261K in October.
  • The Unemployment Rate for November is estimated to remain at 4.1%.
  • Average Hourly Earnings MoM for November is estimated to rise +.3% versus unch. in October.
10:00 am EST
  • Wholesale Trade Sales MoM for October are estimated to rise +.3% versus a +1.32% gain in September.
  • Preliminary Univ. of Mich. Consumer Confidence for December is estimated to rise to 99.0 versus 98.5 in November.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Govt. funding deadline, China Trade Balance report and the (STRA) investor day could also impact trading today.
BOTTOM LINE:  Asian indices are higher, boosted by technology and industrial 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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