Wednesday, December 06, 2017

Thursday Watch

Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 73.25 +.25 basis point
  • Asia Pacific Sovereign CDS Index 14.0 unch.
  • Bloomberg Emerging Markets Currency Index 73.13 -.04%.
  • S&P 500 futures +.21%.
  • NASDAQ 100 futures +.36%.
Morning Preview Links

Earnings of Note
  • (CIEN)/.50
  • (DG)/.94
  • (JKS)/-.02
  • (TTC)/.29
  • (COO)/2.66
  • (FNSR)/.30
  • (UNFI)/.60
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY for November.
8:30 am EST:
  • Initial Jobless Claims for last week are estimated to rise to 240K versus 238K the prior week.
  • Continuing Claims are estimated to fall to 1919K versus 1957K prior.
12:00 pm EST
  • 3Q Household Change in New Worth.
3:00 pm EST
  • Consumer Credit for October is estimated to fall to $17.0B versus $20.83B in September.
Upcoming Splits
  • (PATK) 3-for-2
Other Potential Market Movers
  • The Eurozone Industrial Production report, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, (PSMT) monthly sales report, (ANDE) investor day, (EW) investor conference, (SYY) investor day and the (FITB) investor day could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by financial and industrial shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon.  The Portfolio is 75% net long heading into the day.

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