Monday, June 25, 2018

Tuesday Watch

Night Trading 
  • Asian equity indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 85.75 +4.75 basis points. 
  • Asia Pacific Sovereign CDS Index 14.0 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 69.86 -.02%.
  • FTSE 100 futures +.17%.
  • S&P 500 futures +.06%.
  • NASDAQ 100 futures -.11%.
Morning Preview Links

Earnings of Note

Before the Open:
  • (FDS)/2.13
  • (JKS)/.23
  • (LEN)/.44
  • (SCHN)/1.18
After the Close:
  • (AVAV)/.52
  • (SONC)/.49
Economic Releases
9:00 am EST
  • S&P CoreLogic CS 20-City MoM for April is estimated to rise +.4% versus a +.53% gain in March.
10:00 am EST
  • The Richmond Fed Manufacturing Index for June is estimated to fall to 15.0 versus 16.0 in May. 
  • Consumer Confidence for June is estimated at 128.0 versus 128.0 in May.
Upcoming Splits
  • (HEI) 5-for-4
Other Potential Market Movers
  • The Fed's Kaplan speaking, $34B 2Y T-Note auction, Eurozone 10Y Bond auction, weekly US retail sales reports and the (AKAM) analyst day could also impact trading today.
BOTTOM LINE:  Asian indices are lower, weighed down by industrial and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the day.

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