Monday, June 04, 2018

Tuesday Watch

Evening Headlines
  • Asian Stocks Seen Mixed; Treasury Yields Gain: Markets Wrap. Asian stocks are set for a mixed start Tuesday after pacing a global rally as investors cast aside protectionist fears in favor of optimism over the U.S. economy. Treasuries fell, pushing yields up for a fourth consecutive trading session. Futures on Japan stock indexes rose after the yen declined, while they were lower in Australia and little changed in Hong Kong. The S&P 500 strengthened for a second day to reach its strongest since mid-March. Microsoft Corp. agreed to buy coding site GitHub for $7.5 billion, helping to push the Nasdaq Composite Index to a record high for the first time since March. The Stoxx Europe 600 Index climbed. The dollar fluctuated against major peers. Futures on the Nikkei 225 Stock Average rose 0.2 percent in Singapore.
    S&P/ASX 200 Index futures fell 0.4 percent. S&P 500 futures were little changed as of 7:06 a.m. in Tokyo
Business Insider:
Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 76.50 -.5 basis point
  • Asia Pacific Sovereign CDS Index 12.75 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 71.12 unch.
  • FTSE 100 futures -.12%.
  • S&P 500 futures -.01%.
  • NASDAQ 100 futures +.01%.
Morning Preview Links

Earnings of Note

Before the Open:
  • (GCO)/-.03
  • (GIII)/-.05
  • (HDS)/.63
  • (NAV)/.35
After the Close:
  • (AMBA)/.09
  • (OLLI)/.37
Economic Releases
10:00 am EST
  • JOLTS Job Openings for April is estimated to fall to 6350 versus 6550 in March. 
  • The ISM Non-Manufacturing Composite for May is estimated to rise to 57.6 versus 56.8 in April.
Upcoming Splits
  • (EXPO) 2-for-1
  • (PFBI) 5-for-4
Other Potential Market Movers
  • The China Services PMI report, Eurozone PMI report, weekly US retail sales reports, Baird Consumer/Tech/Services Conference, RBC Energy/Power Conference, (MDT) analyst day, (BLK) investor day, BofA Merrill Tech Conference, Jefferies Healthcare Conference, CSFB Energy Conference and the (HUM) investor meetings 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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