Thursday, September 05, 2019

Friday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 58.75 -1.75 basis points.
  • China Sovereign CDS 40.75 -3.0 basis points.
  • Bloomberg Emerging Markets Currency Index  65.56 +.01%.
  • FTSE 100 futures +.01%.
  • S&P 500 futures +.30%.
  • NASDAQ 100 futures +.30%.

Earnings of Note 
Company/Estimate

Before the Open:
  • (GCO)/-.01
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for Aug. is estimated at 160K versus 164K in July.
  • The Unemployment Rate for Aug. is estimated at 3.7% versus 3.7% in July. 
  • Average Hourly Earnings MoM for August is estimated to rise +.3% versus a +.3% gain in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell speaking, Eurozone GDP report and the Eurozone Industrial Production report could also impact trading today.
BOTTOM LINE: Asian indices are higher, boosted by technology and industrial 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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