Night Trading
- Asian equity indices are -3.0% to -2.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 61.75 +5.25 basis points.
- China Sovereign CDS 46.5 +5.5 basis points.
- Bloomberg Emerging Markets Currency Index 63.68 +.02%.
- FTSE 100 futures n/a.
- S&P 500 futures +.22%.
- NASDAQ 100 futures +.23%.
Earnings of Note
Company/Estimate
Before the Open:
- (AES)/.33
- (CYOU)/.58
- (FL)/1.58
- (SOHU)/-.40
- (SUP)/-.29
- (W)/-2.62
After the Close:
- None of note
Economic Releases
8:30 am EST
- Advance Goods Trade Balance for Jan. is estimated at -$68.5B versus -$68.3B in Dec.
- Wholesale Inventories MoM for Jan. is estimated to rise +.1% versus a -.2% decline in Dec.
- Retail Inventories MoM for Jan. is estimated to rise +.2% versus unch. in Dec.
- Personal Income for Jan. is estimated to rise +.4% versus a +.2% gain in Dec.
- Personal Spending for Jan. is estimated to rise +.3% versus a +.3% gain in Dec.
- The PCE Core MoM for Jan. is estimated to rise +.2% versus a +.2% gain in Dec.
Upcoming Splits
- None of note
Other Potential Market Movers
- The German Unemployment Rate report could also impact trading today.
Market Hours
Normal:
- 9:30 am - 4:00 pm EST
BOTTOM LINE:
Asian indices are sharply lower, weighed down by technology and
commodity shares in the region. I expect US stocks to open lower and to
rally into the afternoon, finishing mixed. The Portfolio is 25% net long
heading into the day.
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