Thursday, April 25, 2019

Friday Watch

Night Trading 
  • Asian equity indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 65.0 +1.0 basis point.
  • China Sovereign CDS 42.25 +1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 66.47 +.07%.
  • S&P 500 futures -.10%.
  • NASDAQ 100 futures -.02%.

Earnings of Note 
Company/Estimate
Before the Open:
  • (AAL)/.50
  • (ADM)/.62
  • (AZN)/.84
  • (ALV)/1.60
  • (AN)/.92
  • (B)/.69
  • (BLMN)/.73
  • (COG)/.65
  • (CVX)/1.33
  • (CL)/.66
  • (XOM)/.74
  • (BEN)/.63
  • (GT)/.12
  • (LEA)/4.11
  • (LYB)/2.18
  • (SNE)/26.29 
  • (TEN)/.95
  • (WY)/.10
  • (ZBH)/1.86
After the Close:
  • None of note
Economic Releases 
8:30 am EST
  • 1Q GDP is estimated to rise +2.3% versus a +2.2% gain in 4Q. 
  • 1Q Personal Consumption is estimated to rise +1.0% versus a +2.5% gain in 4Q.
  • The 1Q GDP Price Index is estimated to rise +1.2% versus a +1.7% gain in 4Q.
  • The 1Q Core PCE is estimated to rise +1.3% versus a +1.8% gain in 4Q.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Australia PPI report and the (SCHW) Business update could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to strengthen into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.

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