Monday, June 15, 2020

Tuesday Watch

Evening Headlines
Bloomberg:       
Wall Street Journal:
Fox News:
CNBC.com:
Zero Hedge:
Night Trading 
  • Asian equity indices are +1.75% to +2.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 87.75 -5.25 basis points.
  • China Sovereign CDS 49.0 -3.75 points.
  • Bloomberg Emerging Markets Currency Index 60.99 +.08%.
  • FTSE 100 futures +1.8%
  • S&P 500 futures +.82%.
  • NASDAQ 100 futures +.79%.
Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:
  • None of note
After the Close:
  • (HRB)/2.61
  • (ORCL)/1.16
Economic Releases 
8:30 am EST
  • Retail Sales Advance MoM for May is estimated to rise +8.0% versus -16.4%.
  • Retail Sales Ex Autos MoM for May is estimated to rise +5.2% versus a -17.2% decline in April.
  • Retail Sales Ex Autos and Gas for May is estimated to rise +5.0% versus a -16.2% decline in April.
9:15 am EST
  • Industrial Production MoM for May is estimated to rise +3.0% versus a -11.2% gain in April.
  • Capacity Utilization for May is estimated to rise to 66.9% versus 64.9% in April. 
  • Manufacturing Production for May is estimated to rise +5.0% versus a -13.7% decline in April.
10:00 am EST
  • Business Inventories for April is estimated to fall -1.0% versus a -.2% decline in March.
  • The NAHB Housing Market Index for June is estimated to rise to 45.0 versus 37.0 in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed Chairman Powell speaking, German Inflation report, UK Employment Change report and the JPMorgan Energy/Power/Renewables Conference could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by technology and transport shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 75% net long heading into the day.

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