Thursday, November 12, 2020

Friday Watch

Evening Headlines
Bloomberg:                           
Wall Street Journal:
Fox News: 
CNBC.com:
MarketWatch.com:            
Zero Hedge:
Night Trading 
  • Asian equity indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 59.75 +2.25 basis points.
  • China Sovereign CDS 30.25 +2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 60.75 -.05%.
  • Bloomberg Global Risk-On/Risk Off Index 868.0 -84.0 points.
  • Volatility Index(VIX) futures 26.60 +.09%
  • FTSE 100 futures -1.19%.
  • S&P 500 futures -.08%.
  • NASDAQ 100 futures +.14%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (DKNG)/-.63
  • (SPB)/1.28
  • (VIPS)/1.70
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • PPI Final Demand MoM for Oct. is estimated to rise +.2% versus a +.4% gain in Sept. 
  • PPI Ex Food & Energy MoM for Oct. is estimated to rise +.2% versus a +.4% gain in Sept.
10:00 am EST
  • Univ. of Mich. Consumer Sentiment for Nov. is estimated to rise to 82.0 versus 81.8 in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Yuan Data, Bloomberg Nov. US Economic Survey and the Eurozone GDP report could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

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