Thursday, July 16, 2020

Friday Watch

Evening Headlines
Bloomberg:  
  • Asia Stocks Set for Muted Start; Dollar Climbs: Markets Wrap. Asian stocks were poised for a muted start to Friday trading after weakness in technology shares weighed on the Wall Street session. The dollar climbed. Futures in Japan were flat, while contracts in Hong Kong and Australia edged higher. S&P 500 futures opened flat after earlier falling as Microsoft Corp. and Apple Inc. led losses, while Netflix Inc. slumped in after-hours trading after the streaming service reported fewer subscriber additions than forecast. Treasuries ticked up as American initial jobless claims posted their smallest weekly decline since March. Futures on the S&P 500 were little changed as of 7:01 a.m. in Tokyo. The index slipped 0.3% on Thursday. Futures on Japan’s Nikkei 225 were little changed. Hang Seng futures earlier rose 0.7%. Futures on Australia’s S&P/ASX 200 Index added 0.2%
Wall Street Journal:
Fox News:
CNBC.com:
Night Trading 
  • Asian equity indices are -.25%  to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 79.0 +.75 basis point.
  • China Sovereign CDS 44.25 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 60.69 unch.
  • FTSE 100 futures +.18%.
  • S&P 500 futures +.25%.
  • NASDAQ 100 futures +.63%.
Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:
  • (ALLY)/.26
  • (ALV)/-1.12
  • (BLK)/6.92
  • (ERIC)/.65
  • (FHN)/.21
  • (KSU)/1.14
  • (RF)/.07
  • (STT)/1.60
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • Housing Starts for June are estimated to rise to 1184K versus 974K in May.
  • Building Permits for June are estimated to rise to 1289K versus 1220K in May.
10:00 am EST
  • Univ. of Mich. Consumer Sentiment for July is estimated to rise to 79.0 versus 78.1 in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Inflation report, (LOW) fireside chat and the (F) fireside chat could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

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