Thursday, June 14, 2018

Friday Watch

Evening Headlines
  • Asian Stocks Set for Gains; Dollar Strengthens. Asian stocks are set to rise Friday after their U.S. and European counterparts closed higher. The dollar hit an 11-month high and 10-year Treasury yields retreated. Futures in Japan, Australia and Hong Kong all pointed to gains. The S&P 500 closed with a modest rise Thursday, while the Nasdaq Composite Index hit a record high. Earlier, European stocks jumped and the euro suffered its biggest drop in about two years after the region’s central bank delivered a somewhat dovish message to investors. Europe’s bonds rallied. The greenback strengthened against all major peers. Nikkei 225 futures rose 0.6 percent in Singapore. S&P/ASX 200 futures rose 0.5 percent. Hang Seng futures rose 0.2 percent.
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 77.0 -.5 basis point 
  • Asia Pacific Sovereign CDS Index 12.75 unch.
  • Bloomberg Emerging Markets Currency Index 69.90 -.09%.
  • FTSE 100 futures -.15%.
  • S&P 500 futures -.06%.
  • NASDAQ 100 futures -.03%.
Morning Preview Links

Earnings of Note

Before the Open:
  • (GOOS)/-.08
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • Empire Manufacturing for June is estimated to fall to 18.8 versus 20.1 in May.
9:15 am EST
  • Industrial Production MoM for May is estimated to rise +.2% versus a +.7% gain in April.
  • Manufacturing Production for May is estimated unch. versus a +.5% gain in April.
  • Capacity Utilization for May is estimated to rise to 78.1% versus 78.0% in April.
10:00 am EST
  • Preliminary Univ. of Mich. Consumer Sentiment for  June is estimated to rise to 98.5 versus 98.0 in May.
4:00 pm EST
  • Net Long-Term TIC Flows for April.
Upcoming Splits
  • (TREX) 2-for-1
  • (HBNC) 3-for-2
Other Potential Market Movers
  • The BoJ rate decision, Eurozone CPI report, US China tariff list announcement, (CNC) investor day and the (BLUE) business update conference call could also impact trading today.
BOTTOM LINE:  Asian indices are mostly 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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