Wednesday, January 30, 2019

Thursday Watch

Night Trading 
  • Asian equity indices are +.5% to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 80.5 -4.25 basis points
  • China Sovereign CDS 55.0 -3.25 basis points.
  • Bloomberg Emerging Markets Currency Index 68.67 +.16%.
  • FTSE 100 futures +.29%.
  • S&P 500 futures +.26%.
  • NASDAQ 100 futures +.52%.
Morning Preview Links

Earnings of Note
Company/Estimate
Before the Open:
  • (MO)/.95
  • (ABC)/1.51
  • (APTV)/1.21
  • (BAX)/.73
  • (CELG)/2.31
  • (COP[)/1.02
  • (ETN)/1.43
  • (GE)/.24
  • (IP)/1.59
  • (MA)/1.52
  • (NOC)/4.45
  • (PH)/2.42
  • (RTN)/2.87
  • (SHW)/3.55
  • (TSCO)/1.09
  • (UPS)/1.91
  • (VLO)/1.11
  • (YRCW)/.39
After the Close:
  • (AFL)/.94
  • (AMZN)/5.51
  • (CY)/.33
  • (DECK)/5.29
  • (MCK)/3.16
  • (POST)/.97
  • (SKYW)/1.07
  • (SYMC)/.39
  • (YUMC)/.08
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY for January.
8:30 am EST
  • The Employment Cost Index for 4Q is estimated to rise +.8% versus a +.8% gain in 3Q.
  • Initial Jobless Claims for last week are estimated to rise to 215K versus 199K the prior week.
  • Continuing Claims are estimated to rise to 1721K versus 1713K prior.
9:45 am EST
  • The Chicago Purchasing Manager report for January is estimated to fall to 61.5 versus 63.8 in Dec. 
10:00 am EST
  • New Home Sales for November are estimated to rise to 567K versus 544K in October.
4:00 pm EST
  • Net Long-Term TIC Flows for Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China PMI report, Eurozone GDP report, Japan Unemployment Rate report and the weekly Bloomberg Consumer Comfort Index could also impact trading today.
BOTTOM LINE:  Asian indices are higher, boosted by industrial and technology shares in the region. I expect US stocks to open mixed and to strengthen into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.

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