Sunday, December 08, 2019

Monday Watch

Today's Headlines
  • Asia Stocks Start Week Firmer; Treasuries Steady. Asian stocks kicked off the week with modest gains after U.S. equities rallied Friday on better-than-expected jobs data. Treasuries stabilized after declines. Equity benchmarks opened higher in Tokyo, Sydney and Seoul. Gains were modest with the key Dec. 15 U.S.-China tariff deadline looming with no specific plan for a trade deal. Weekend data showing a drop in Chinese exports underlined the stakes for growth. S&P 500 futures were flat after the index logged gains Friday after reports showing payrolls jumped the most since January, wages beat estimates and consumer sentiment increased. Treasury yields were steady after climbing above 1.80%. Japan’s Topix index rose 0.4% as of 9:11 a.m. in Tokyo. Australia’s S&P/ASX 200 Index rose 0.2%. Kospi index rose 0.2%. Hang Seng Index futures climbed 0.3% earlier. S&P 500 futures were little changed. The S&P 500 climbed 0.9% Friday.  
Wall Street Journal:
Zero Hedge:            
Night Trading
  • Asian indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 64.0 -.75 basis point.
  • China Sovereign CDS 37.75 -1.5 basis points.
  • Bloomberg Emerging Markets Currency Index 65.72 +.04%.
  • FTSE 100 futures -.33%.
  • S&P 500 futures -.14%.
  • NASDAQ 100 futures -.18%.

Earnings of Note
Before the Open:
  • (THO)/1.24
After the Close:
  • (CASY)/2.16
  • (CHWY)/-.13
  • (SFIX)/-.06
  • (TOL)/1.30
  • (MTN)/-2.99
Economic Releases
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China CPI report, 3Y T-Note auction, Raymond James Tech Conference, Cowen Energy Conference, UBS Media/Telecom/Communications/Tech Conference and the (SLG) investor conference could also impact trading today.
BOTTOM LINE: Asian indices are modestly higher, boosted 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.

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