Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 72.75 +.25 basis point.
- China Sovereign CDS 50.25 -.5 basis point.
- Bloomberg Emerging Markets Currency Index 66.37 +.03%.
- S&P 500 futures +.11%.
- NASDAQ 100 futures +.15%.
Earnings of Note
Company/Estimate
Before the Open:
- None of note
After the Close:
- (ADBE)/1.78
- (JBL)/.57
- (LZB)/.64
Economic Releases
8:30 am EST
- Housing Starts for May is estimated to rise to 1240K versus 1235K in April.
- Building Permits for May is estimated to fall to 1293K versus 1296K in April.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Eurozone PPI report, Eurozone ZEW Survey, Japan trade data report, weekly US retail sales reports, Oppenheimer Consumer Growth/E-Commerce Conference, JPMorgan Energy Conference and the Raymond James Life Sciences/MedTech Conference could also impact trading today.
BOTTOM LINE:
Asian indices are mostly higher, boosted by commodity and technology
shares in the region. I expect US stocks to open modestly higher and to
weaken into the afternoon, finishing modestly mixed. The Portfolio is
75% net long heading into the day.
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