Night Trading
- Asian equity indices are -1.0.% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 66.0 +1.5 basis points.
- China Sovereign CDS 44.5 +3.5 basis points.
- Bloomberg Emerging Markets Currency Index 67.36 .
- NASDAQ 100 futures -.49%.
Earnings of Note
Company/Estimate
Before the Open:
After the Close:
Economic Releases
9:00 am EST
- The FHFA House Price Index MoM for April is estimated to rise +.2% versus a +.1% gain in March.
10:00 am EST
- The Richmond Fed Manufacturing Index for June is estimated to fall to 2.0 versus a reading of 5.0 in May.
- New Home Sales for May is estimated to rise to 684K versus 673K in April.
- The Conference Board Consumer Confidence Index for June is estimated to fall to 131.0 versus 134.1 in May.
Upcoming Splits
Other Potential Market Movers
- The
weekly US retail sales reports, Japan Trade Data report, $41B 5Y T-Note
auction and the Democrat Presidential Debate could also impact trading
today.
BOTTOM LINE:
Asian indices are mostly lower, weighed down by financial 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
75% net long heading into the day.