Sunday, August 19, 2018

Monday Watch

Today's Headlines
  • Asia Stocks Set for Mixed Start; Dollar Holds Loss . Asian equities looked set for a mixed open Monday as traders look for clues from earnings reports, developments in the trade war and a meeting of central bankers in Jackson Hole to gauge the outlook for growth. Futures indicated Hong Kong shares may open with small declines, while Japan was poised for a muted start to the week. The dollar held on to losses sustained last week, with the 10-year Treasury yield at 2.86 percent. The yuan steadied after stemming its recent declines amid signs China is propping up the currency just as it prepares to restart trade negotiations with the U.S. Futures on Japan’s Nikkei slid 0.1 percent in most recent trading late Friday. Futures on Hong Kong’s Hang Seng Index dropped 0.4 percent. Futures on Australia’s S&P/ASX 200 Index rose 0.5 percent.
Zero Hedge:    
Night Trading
  • Asian indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 82.5 +.25 basis point.
  • Asia Pacific Sovereign CDS Index 11.0 unch.
  • Bloomberg Emerging Markets Currency Index 66.61 -.05%.
  • FTSE 100 futures +.11%
  • S&P 500 futures +.09%.
  • NASDAQ 100 futures +.15%.

Earnings of Note
Before the Open:
  • (EL)/.56
  • (ZOES)/-.04
After the Close:
  • (FN)/.75
  • (NDSN)/1.60
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone PPI report and the (EFX) investor meeting could also impact trading today.
BOTTOM LINE: Asian indices are slightly 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 week.

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