Sunday, February 24, 2019

Monday Watch

Today's Headlines
Night Trading
  • Asian indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 70.50 -1.75 basis points.
  • China Sovereign CDS 49.75 -1.75 basis points.
  • Bloomberg Emerging Markets Currency Index 68.29 +.12%.
  • FTSE 100 futures +.08%.
  • S&P 500 futures +.32%.
  • NASDAQ 100 futures +.40%.

Earnings of Note
Before the Open:
  • (CRI)/2.56
  • (MDR)/.18
  • (TEN)/1.43
After the Close:
  • (ETSY)/.28
  • (CRZO)/.55
  • (HTZ)/.90
  • (MOS)/.57
  • (RCIOI)/.20
  • (SHAK)/.03
  • (THC)/.29
  • (TEX)/.47
Economic Releases
8:30 am EST
  • The Chicago Fed National Activity Index for Jan.
10:00 am EST
  • Wholesale Inventories MoM for Dec. is estimated to rise +.4% versus a +.3% gain in Nov.
  • Wholesale Trade Sales MoM for Dec.
10:30 am EST
  • The Dallas Fed Manufacturing Activity Index for Feb. is estimated to rise to 4.8 versus 1.0 in Jan.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The 2/5-Year T-Note auctions, Mexico GDP report, Mobile World Congress, Morgan Stanley Tech/Media/Telecom Conference, JMP Securities Tech Conference, (ETH) investor meeting and the BofA Merrill Animal Health Summit could also impact trading today.
BOTTOM LINE: Asian indices are higher, boosted by technology 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 week.

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