Thursday, August 30, 2018

Friday Watch

Night Trading 
  • Asian equity indices are -.5% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 81.5 +2.75 basis points. 
  • Asia Pacific Sovereign CDS Index 10.5 +.25 basis point
  • Bloomberg Emerging Markets Currency Index 65.44 -.26%.
  • FTSE 100 futures -.65%.
  • S&P 500 futures -.11%.
  • NASDAQ 100 futures -.06%.
Morning Preview Links

Earnings of Note

Before the Open:
  • (BIG)/.67
After the Close:
  • None of note
Economic Releases 
9:45 am EST
  • The Chicago Purchasing Manager for August is estimated to fall to 63.0 versus 65.5 in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Manufacturing PMI report and the Eurozone CPI  report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by technology and financial 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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