Thursday, June 28, 2018

Friday Watch

Evening Headlines
  • Asia Stocks to Gain, Dollar Slips With Treasuries. Asian stocks looked set to advance on the final day of what’s been the worst quarter in nearly three years characterized by trade tensions between the U.S. and China. Treasuries retreated alongside the dollar. Equity futures in Japan, Hong Kong and Australia pointed to gains after technology stocks drove the S&P 500 Index higher. A gauge of emerging market stocks sank to the lowest level in 10 months, while West Texas Intermediate crude pushed above $73 a barrel. Futures on Japan’s Nikkei 225 rose 0.3 percent in Singapore. Futures on Hong Kong’s Hang Seng added 0.1 percent
Business Insider:
Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 95.5 +.75 basis point. 
  • Asia Pacific Sovereign CDS Index 14.75 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 69.33 +.05%.
  • FTSE 100 futures +.45%.
  • S&P 500 futures +.10%.
  • NASDAQ 100 futures +.04%.
Morning Preview Links

Earnings of Note

Before the Open:
  • (STZ)/2.44
  • (GBX)/115
Economic Releases
8:30 am EST
  • Personal Income for May is estimated to rise +.4% versus a +.3% gain in June.
  • Personal Spending for May is estimated to rise +.4% versus a +.6% gain in June.
  • The PCE Core MoM for May is estimated to rise +.2% versus a +.2% gain in April.
9:45 am EST
  • The Chicago Purchasing Manager for June is estimated to fall to 60.0 versus a reading of 62.7 in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone CPI report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the day.

No comments: