Night Trading
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 63.75 +.5 basis point.
- China Sovereign CDS 42.5 +2.0 basis points.
- Bloomberg Emerging Markets Currency Index 67.73 -.01%.
- S&P 500 futures +.22%.
- NASDAQ 100 futures +.24%.
Earnings of Note
Company/Estimate
Before the Open:
- None of note
After the Close:
- None of note
Economic Releases
8:30 am EST
- PPI Final Demand MoM for June is estimated unch. versus a +.1% gain in May.
- PPI Ex Food and Energy MoM for June is estimated to rise +.2% versus a +.4% gain in May.
Upcoming Splits
- None of note
Other Potential Market Movers
- The China Trade Balance report and the Bloomberg July US Economic Survey could also impact trading today.
BOTTOM LINE:
Asian indices are mostly higher, boosted by industrial and technology
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 day.
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