Monday, December 25, 2017

Tuesday Watch

Night Trading
  • Asian indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 68.0 -.25 basis point.
  • Asia Pacific Sovereign CDS Index 13.5 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 73.81 +.02%.
  • S&P 500 futures -.03%.
  • NASDAQ 100 futures -.10%.

Earnings of Note
  • None of note
Economic Releases   
9:00 am EST
  • The S&P CoreLogic CS 20-City MoM for October is estimated to rise +.8% versus a +.52% gain in September.
10:00 am EST
  • The Richmond Fed Manufacturing Index for December is estimated to fall to 21.0 versus 30.0 in November.
10:30 am EST
  • The Dallas Fed Manufacturing Activity Index for December is estimated to rise to 20.0 versus 19.4 in November.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The BoJ's Kuroda speaking and the 2Y T-Note auction could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer 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 week.

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