Wednesday, June 06, 2018

Thursday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 77.25 +.25 basis point
  • Asia Pacific Sovereign CDS Index 13.0 +.25 basis point
  • Bloomberg Emerging Markets Currency Index 71.15 -.02%.
  • FTSE 100 futures +.31%.
  • S&P 500 futures unch.
  • NASDAQ 100 futures +.05%.
Morning Preview Links

Earnings of Note
Before the Open:
  • (HOV)/-.05
  • (SJM)/2.19
  • (MTN)/6.10
After the Close:
  • (HOME)/.27
  • (AVGO)/4.74
  • (COO)/2.84
  • (PAY)/.28
  • (ZUMZ)/-.12
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 220K versus 221K the prior week.
  • Continuing Claims are estimated to rise to 1738K versus 1726K prior.
12:00 pm EST
  • 1Q Household Change in Net Worth.
3:00 pm EST
  • Consumer Credit for April is estimated at $14.0B versus $11.622B in March.
Upcoming Splits
  • (PFBI) 5-for-4
Other Potential Market Movers
  • The Japan GDP report, German Factory Orders report, Eurozone GDP report, Bloomberg June US Economic Survey, weekly Bloomberg Consumer Comfort Index, RBC Capital Mining/Materials Conference, Piper Jaffray Consumer Conference, Credit Suisse Chemical/Ag Conference, (RL) investor day and the (AIG) investor meeting could also impact trading today.
BOTTOM LINE:  Asian indices are higher, boosted by technology and financial 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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