Night Trading
- Asian equity indices are -1.0% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 68.75 +3.5 basis points.
- China Sovereign CDS 48.5 +4.75 basis points.
- Bloomberg Emerging Markets Currency Index 64.08 +.08%.
- FTSE 100 futures -.35%.
- S&P 500 futures +.60%.
- NASDAQ 100 futures +.75%.
Earnings of Note
Company/Estimate
Before the Open:
- (ANF)/1.23
- (BF/B)/.50
- (CPB)/.66
- (DLTR)/1.75
- (JW/A)/.54
- (NAV)/-.24
- (PLCE)/1.57
After the Close:
- (AEO)/.36
- (MRVL)/.16
- (SPLK)/.97
- (ZM)/.07
Economic Releases
8:15 am EST
- The ADP Employment Change for Feb. is estimated to fall to 170K versus 291K in Jan.
10:00 am EST
- The ISM Non-Manufacturing Index for Feb. is estimated to fall to 54.9 versus 55.5 in Jan.
10:30 am EST
- Bloomberg
consensus estimates call for a weekly crude oil inventory gain of
+2,865,830 barrels versus a +452,000 barrel gain the prior week.
Gasoline supplies are estimated to fall by -2,079,180 barrels versus a
-2,691,000 barrel decline the prior week. Distillate inventories are
estimated to fall by -1,887,730 barrels versus a -2,115,000 barrel
decline the prior week. Finally, Refinery Utilization is estimated to
fall by -.37% versus a -1.5% decline prior.
2:00 pm EST
- US Fed Beige Book report.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Eurozone Services PMI report, weekly MBA Mortgage Applications report, UBS Consumer/Retail Conference, Morgan Stanley Energy/Power Conference, (JCOM) analyst day, (ZEN) investor day and the (GE) investor call could also impact trading today.
Market Hours
Normal:
- 9:30 am - 4:00 pm EST
BOTTOM LINE:
Asian indices are mostly lower, weighed down by technology and
commodity shares in the region. I expect US stocks to open mixed and to
weaken into the afternoon, finishing modestly lower. The Portfolio is
25% net long heading into the day.
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