Night Trading
- Asian equity indices are -.75% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 65.25 +.75 basis point.
- China Sovereign CDS 43.50 +.5 basis point.
- Bloomberg Emerging Markets Currency Index 67.66 +.01%.
- S&P 500 futures -.24%.
- NASDAQ 100 futures -.37%.
Earnings of Note
Company/Estimate
Before the Open:
- (ADS)/3.95
- (BBT)/1.08
- (BX)/.52
- (DHR)/1.16
- (GPC)/1.65
- (HON)/2.08
- (MTB)/3.68
- (MS)/1.16
- (NVS)/1.21
- (NUE)/1.31
- (PM)/1.32
- (PPG)/1.83
- (SAP)/1.11
- (SNA)/3.21
- (STI)/1.45
- (TSM)/2.55
- (UNP)/2.14
- (UNH)/3.46
After the Close:
- (OZK)/.85
- (COF)/2.87
- (CRWD)/-.48
- (ETFC)/1.10
- (ISRG)/2.87
- (MSFT)/1.21
Economic Releases
8:30 am EST
- The Philly Fed Business Outlook Index for July is estimated to rise to 5.0 versus .3 in June.
- Initial Jobless Claims for last week are estimated to rise to 216K versus 209K the prior week.
- Continuing Claims are estimated to fall to 1700K versus 1723K prior.
10:00 am EST
- The Leading Index for June is estimated to rise +.1% versus unch. in May.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Williams speaking, Fed's Bostic speaking, Australia Unemployment Rate report, Japan CPI report, Bloomberg Economic Expectations Index for July, weekly Bloomberg Consumer Comfort Index and the weekly EIA natural gas inventory report could also impact trading today.
BOTTOM LINE:
Asian indices are mostly lower, weighed down by industrial and
financial shares in the region. I expect US stocks to open modestly
lower and to maintain losses into the afternoon. The Portfolio is 50%
net long heading into the day.
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