Wednesday, February 07, 2018

Thursday Watch

Night Trading 
  • Asian equity indices are -.25% to +.50% on average.
  • Asia Ex-Japan Investment Grade CDS Index 70.25 +1.0 basis point
  • Asia Pacific Sovereign CDS Index 12.0 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 75.30 +.04%.
  • FTSE 100 futures -.86%.
  • S&P 500 futures -.23%.
  • NASDAQ 100 futures -.08%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (ALXN)/1.27
  • (BWA)/1.01
  • (GOOS)/.47
  • (CAH)/1.16
  • (CBG)/.92
  • (CVS)/1.88
  • (GT)/.78
  • (HBI)/.52
  • (K)/.96
  • (MAS)/.43
  • (PTEN)/-.08
  • (PENN)/.17
  • (PM)/1.35
  • (REN)/4.60
  • (SEE)/.57
  • (SNA)/2.66
  • (TWTR)/.14
  • (TSN)/1.49
  • (VIAB)/.95
  • (WWE)/.19
  • (YUM)/.80
  • (ATVI)/.93
  • (AIG)/.75
  • (EXPE)/1.15
  • (HIG)/.78
  • (MHK)/3.32
  • (NWSA)/.19
  • (NVDA)/1.32
  • (OSTK)/.03
  • (SKX)/.13
  • (ZG)/.19
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 232K versus 230K the prior week.
  • Continuing Claims are estimated to fall to 1940K versus 1953K the prior week.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Kashkari speaking, Fed's George speaking, Govt funding deadline, China Trade report, $16B 30Y T-Note auction, WASDE crop report, Bloomberg Economic Survey for Feb., weekly Bloomberg Consumer Comfort Index, 4Q Mortgage Delinquencies/Foreclosures reports, weekly EIA natural gas inventory report, (BKE)/(LB) sales update and the (DNKN) analyst day could also impact trading today.
BOTTOM LINE:  Asian indices are mostly higher, boosted 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 50% net long heading into the day.

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