Sunday, November 10, 2019

Monday Watch

Today's Headlines
Bloomberg:
  • Stocks Edge Up in Asia With S&P 500 at Record. Stocks in Asia nudged higher and U.S. equity futures were steady as investors parsed the latest developments in the trade conflict and kept an eye on Alibaba’s Singles’ Day for a gauge of consumer health in China. Shares opened modestly higher in Tokyo and Sydney, while South Korean equities were little changed. Contracts on the S&P 500 were flat after the U.S. benchmark index eked out another record high on Friday, as Treasuries continued to decline. The 10-year yield ended the week at 1.94%. Veterans Day in the U.S. means no Treasuries trading. President Donald Trump said trade talks with China are moving along “very nicely” and Beijing wants a trade deal “much more than I do.” The offshore yuan was steady after five weeks of gains. Futures on the S&P 500 were little changed as of 9:03 a.m. in Tokyo. The underlying gauge added 0.3% on Friday. Australia’s S&P/ASX 200 Index added 0.5%. Japan’s Topix index advanced 0.3%. South Korea’s Kospi was flat.  
Wall Street Journal:
MarketWatch.com:
Zero Hedge:     
Night Trading
  • Asian indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 63.25 -1.5 basis points.
  • China Sovereign CDS 36.25 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 65.90 -.07%.
  • FTSE 100 futures -.02%.
  • S&P 500 futures -.23%.
  • NASDAQ 100 futures -.28%.

Earnings of Note
Company/Estimate

Before the Open:
  • None of Note
After the Close:
  • (FGEN)/-.57
  • (TDW)/-.29
  • (ICUI)/1.62
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The UK GDP report and the Credit Suisse Healthcare Conference could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the week.

No comments: