Night Trading
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 71.75 -.5 basis point.
- China Sovereign CDS 50.25 +.25 basis point.
- Bloomberg Emerging Markets Currency Index 66.82 unch.
- S&P 500 futures -.04%.
- NASDAQ 100 futures -.16%.
Earnings of Note
Company/Estimate
Before the Open:
- None of note
After the Close:
- (LULU)/.70
- (OXM)/1.21
- (RH)/1.53
Economic Releases
8:30 am EST
- The CPI MoM for May is estimated to rise +.1% versus a +.3% gain in April.
- The CPI Ex Food and Energy MoM for May is estimated to rise +.2% versus a +.1% gain in April.
- Real Avg Weekly Earnings YoY for May.
10:30 am EST
- Bloomberg
consensus estimates call for a weekly crude oil inventory decline of
-894,110 barrels versus a +6,771,000 barrel gain the prior week.
Gasoline supplies are estimated to rise by +468,130 barrels versus a
+3,205,000 barrel gain the prior week. Distillate inventories are
estimated to rise by +957,750 barrels versus a +4,572,000 barrel gain
the prior week. Finally, Refinery Utilization is estimated to rise by
+.51% versus a +.6% gain prior.
Upcoming Splits
- None of note
Other Potential Market Movers
- The China inflation data reports, $24B 10Y T-Note auction, weekly MBA Mortgage Applications report and the (CTXS) financial analyst meeting could also impact trading today.
BOTTOM LINE:
Asian indices are mostly lower, weighed down by commodity and
industrial shares in the region. I expect US stocks to open mixed and to
weaken into the afternoon, finishing modestly lower. The Portfolio is
50% net long heading into the day.
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