Monday, October 12, 2020

Tuesday Watch

Evening Headlines
Bloomberg:  
Wall Street Journal:
Fox News:
CNBC.com:
MarketWatch.com:    
Zero Hedge:
Night Trading 
  • Asian equity indices are unch. to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 64.0 -.75 basis point.
  • China Sovereign CDS 38.25 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 59.63 -.07%.
  • Bloomberg Global Risk-On/Risk Off Index 485.0 +27.0 points.
  • Volatility Index(VIX) futures 28.69 +.40%
  • FTSE 100 futures +.09%.
  • S&P 500 futures -.33%.
  • NASDAQ 100 futures -.25%.
Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:
  • (AZZ)/.45
  • (BLK)/7.76
  • (C)/.85
  • (DAL)/-2.97
  • (FAST)/.38
  • (JNJ)/1.98
  • (JPM)/2.24
  • (EDU)/1.05
After the Close:
  • None of note
Economic Releases
6:00 am EST
  • The NFIB Small Business Optimism Index for Sept. is estimated to rise to 101.0 versus 100.2 in Aug. 
8:30 am EST
  • The CPI MoM for Sept. is estimated to rise +.2% versus a +.4% gain in Aug.
  • The CPI Ex Food and Energy MoM for Sept. is estimated to rise +.2% versus a +.4% gain in Aug.
  • Real Avg. Weekly Earnings YoY for Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ZEW Economic Sentiment Index, UK Unemployment Rate, German Inflation report, weekly US Retail Sales reports, (AAPL) iPhone event and the (AMZN) Prime Day could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly higher, boosted by commodity and biotechnology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finished mixed. The Portfolio is 50% net long heading into the day.

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