Monday, February 18, 2019

Tuesday Watch

Today's Headlines
  • Asian Stocks Mixed; Treasury Yields Edge Higher. Asian stocks traded mixed Tuesday with little direction after a muted session in Europe and a holiday in the U.S. The dollar steadied while Treasury yields edged higher. Shares in Japan were little changed and fell in Korea, while Australian equities posted modest gains. Global trade remained foremost in investors’ minds as the European Union vowed prompt retaliation if the U.S. imposes tariffs on imported vehicles, with trans-Atlantic trade tensions showing no signs of easing. Earlier, European shares edged higher. Oil advanced to trade close to its highest in almost three months. Japan’s Topix Index fell 0.1 percent at 9:15 a.m. in Tokyo. S&P/ASX 200 rose 0.2 percent. Kospi Index fell 0.8 percent. The Stoxx Europe 600 Index gained 0.2 percent to the highest in almost 19 weeks. S&P 500 futures were little changed.
Zero Hedge:    
Night Trading
  • Asian indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 74.0 -2.0 basis points.
  • China Sovereign CDS 53.0 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 67.95 -.04%.
  • FTSE 100 futures +.13%.
  • S&P 500 futures -.04%.
  • NASDAQ 100 futures +.15%.

Earnings of Note
Before the Open:
  • (AAP)/1.13
  • (AAWW)/2.92
  • (EXPD)/.85
  • (FDP)/.12
  • (GPC)/1.32
  • (MDT)/1.24
  • (SAGE)/-2.92
  • (TEX)/.47
  • (RIG)/-.24
  • (WMT)/1.33
After the Close:
  • (CRMT)/.99
  • (CXO)/1.12
  • (HLF)/.60
  • (LZB)/.55
  • (TXRH)/.41
Economic Releases
10:00 am EST
  • The NAHB Housing Market Index for Feb. is estimated to rise to 59.0 versus 58.0 in Jan.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China mid-level trades talks, German ZEW Index, Japan trade data report and the (JEC) investor day could also impact trading today.
BOTTOM LINE: Asian indices are mostly 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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