Monday, July 16, 2018

Tuesday Watch

Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 88.0 -1.0 basis point. 
  • Asia Pacific Sovereign CDS Index 13.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 69.78 -.02%.
  • FTSE 100 futures +.27%.
  • S&P 500 futures +.09%.
  • NASDAQ 100 futures +.07%.
Morning Preview Links

Earnings of Note
Company/Estimate
Before the Open:
  • (SCHW)/.58
  • (CMA)/1.68
  • (GS)/4.65
  • (JNJ)/2.07
  • (OMC)/1.54
  • (PGR)/1.11
  • (UNH)/3.04
After the Close:
  • (CSX)/.86
  • (IBKR)/.42
  • (MRTN)/.22
  • (UAL)/3.07
Economic Releases 
9:15 am EST
  • Industrial Production MoM for June is estimated to rise +.5% versus a -.1% decline in May.
  • Manufacturing Production for June is estimated to rise +.7% versus a -.7% decline in May.
  • Capacity Utilization for June is estimated to rise to 78.3% versus 77.9% in May.
10:00 am EST
  • The NAHB Housing Market Index for July is estimated at 68 versus 68 in June.
4:00 pm EST
  • Net Long-Term TIC Flows for May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell testifying to Senate, China New Home Price report, UK Unemployment report and the US weekly retail sales reports could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by technology and commodity shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 75% net long heading into the day.

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