Monday, August 27, 2018

Tuesday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 78.0 -2.0 basis points. 
  • Asia Pacific Sovereign CDS Index 10.5 unch.
  • Bloomberg Emerging Markets Currency Index 66.86 -.04%.
  • FTSE 100 futures +.55%
  • S&P 500 futures +.17%.
  • NASDAQ 100 futures +.27%.
Morning Preview Links

Earnings of Note
Before the Open:
  • (BMO)/2.26
  • (BBY)/.83
  • (BJ)/.30
  • (DSW)/.47
  • (HAIN)/.26
  • (TIF)/1.01
After the Close:
  • (HRB)/-.77
  • (SCVL)/.55
Economic Releases 
8:30 am EST
  • The Advance Goods Trade Balance for July is estimated to widen to -$69.0B versus -$67.9B in June.
  • Wholesale Inventories MoM for July are estimated to rise +.2% versus a +.1% gain in June.
  • Retail Inventories MoM for July.
9:00 am EST
  • The S&P CoreLogic CS 20-City MoM for June is estimated to rise +.2% versus a +.2% gain in May.
10:00 am EST
  • The Richmond Fed Manufacturing Index for August is estimated to fall to 17.0 versus 20.0 in July.
  • Conference Board Consumer Confidence for August is estimated to fall to 126.6 versus 127.4 in July. 
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone M3 Money Supply report, $37B 5Y T-Note auction, AZ Senate primary, weekly US retail sales reports, (HSY) analyst day and the Jefferies Semi/Hardware/Communications Conference could also impact trading today.
BOTTOM LINE:  Asian indices are higher, boosted by industrial and industrial shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon.  The Portfolio is 100% net long heading into the day.

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