Wednesday, August 15, 2018

Thursday Watch

Night Trading 
  • Asian equity indices are -1.0% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 84.75 +2.75 basis points. 
  • Asia Pacific Sovereign CDS Index 10.5 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 66.37 -.14%.
  • FTSE 100 futures +.42%
  • S&P 500 futures -.04%.
  • NASDAQ 100 futures -.07%.
Morning Preview Links

Earnings of Note
Before the Open:
  • (JCP)/-.03
  • (JD)/.71
  • (WMT)/1.22
After the Close:
  • (AMAT)/1.16
  • (DDS)/-.45
  • (JWN)/.84
  • (NVDA)/1.85
  • (ZOES)/-.05
Economic Releases 
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 215K versus 213K the prior week.
  • Continuing Claims are estimated to fall to 1740K versus 1755K prior.
  • Philly Fed Business Outlook Index for August is estimated to fall to 22.0 versus 25.7 in July.
  • Housing Starts for July are estimated to rise to 1260K versus 1173K in June.
  • Building Permits for July are estimated to rise to 1310K versus 1273K in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Trade Balance report, Bloomberg Economic Expectations Index for August, weekly Bloomberg Consumer Comfort Index and EIA weekly natural gas inventory report could also impact trading today.
BOTTOM LINE:  Asian indices are mostly lower, weighed down by commodity and technology shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 75% net long heading into the day.

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