Don’s Notebook February 8, 2018

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Wednesday’s heavy selling into the U.S. close seemed to affect potential recovery in Asia.

  • MSCI Asia Pacific Index gained 0.2 percent
  • Japan’s Topix index closed 0.9 percent higher as the yen weakened against the dollar

In Europe, the Stoxx 600 Index was 0.7 percent lower at 5:45 a.m. Eastern Time with real estate and mining shares leading the losses.

The US Senate is ready to pass a budget deal today avoiding government shutdown, suspending the federal debt ceiling until March 1, 2019 and adding nearly $300 billion for government programs. There is some opposition from members of the House of Representatives.

U.S. government debt remains under pressure, with the yield on the 10-year Treasury at 2.833 percent after the auction yesterday, and ahead of today’s $16 billion sale of 30-year obligations.

Important announcements today:

  • Just after the Market opening, initial jobless claims posted a readings of 221,000 new claims in the first week of February which takes the 4-week average to 224,500 which is a 45-year low.
  • Earnings announcements from notables Grubhub, Kellogg, Yum! Brands, Tyson Foods and Twitter
  • Dunkin’ Brands host an investor and analyst day
  • The EIA Natural Gas Report and the Bloomberg Consumer Confidence Index are due this morning.
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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.