Thursday, December 05, 2019

Friday Watch

Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 64.75 -.25 basis point.
  • China Sovereign CDS 39.25 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index  65.64 +.03%.
  • FTSE 100 futures +.20%.
  • S&P 500 futures +.14%.
  • NASDAQ 100 futures +.16%.
Morning Preview Links

Earnings of Note 
Before the Open:
  • (BIG)/-.20
  • (GCO)/1.08
After the Close:
  • None of note
Economic Releases 
8:30 am EST
  • Two-Month Payroll Net revisions for Nov. 
  • The Change in Non-Farm Payrolls for Nov. is estimated to rise to 184K versus 128K in Oct.
  • The Unemployment Rate for Nov. is estimated at 3.6% versus 3.6% in Oct.
  • Average Hourly Earnings MoM for Nov. is estimated to rise +.3% versus a +.2% gain in Oct.
10:00 am EST
  • Wholesale Trade Sales MoM for Oct.
  • Univ. of Mich. Consumer Confidence for Dec. is estimated to rise to 97.0 versus 96.8 in Nov.
3:00 pm EST
  • Consumer Credit for Oct. is estimated to rise to $16.0B versus $9.513B in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Canadian unemployment rate, (WWD) investor conference and the (SON) investor conference could also impact trading today.
BOTTOM LINE: Asian indices are 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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