Wednesday, April 21, 2021

Thursday Watch

Night Trading 
  • Asian equity indices are +.5% to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 77.5 -4.5 basis points.
  • China Sovereign CDS 37.5 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 60.87 +.02%.
  • Bloomberg Global Risk-On/Risk Off Index 3,117.0 +43.0 points.
  • Volatility Index(VIX) futures 20.15 +.77%.
  • FTSE 100 futures +.27%.
  • S&P 500 futures -.23%.
  • NASDAQ 100 futures -.25%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ALK)/-3.75
  • (AAL)/-3.91
  • (AEP)/1.19
  • (T)/.79
  • (BIIB)/5.02
  • (BX)/.72
  • (CLF)/.34
  • (DHI)/2.18
  • (DHR)/1.69
  • (DOW)/1.06
  • (FCX)/.51
  • (GPC)/1.14
  • (HCA)/3.29
  • (NUE)/3.08
  • (ODFL)/1.59
  • (DGX)/3.75
  • (RS)/3.63
  • (SAP)/.86
  • (SNA)/3.07
  • (LUV)/1.87
  • (TSCO)/.96
  • (UNP)/2.14
  • (VLO)/-.77
After the Close:
  • (OZK)/.86
  • (INTC)/1.14 
  • (STX)/1.31
  • (SNAP)/-.05
Economic Releases
8:30 am EST
  • The Chicago Fed National Activity Index for March is estimated to rise to 1.25 versus -1.09 in Feb.
  • Initial Jobless Claims for last week are estimated to rise to 610K versus 576K the prior week. 
  • Continuing Claims are estimated to fall to 3640K versus 3731K prior.
10:00 am EST
  • The Leading Index for March is estimated to rise +1.0% versus a +.2% gain in Feb.
  • Existing Home Sales for March is estimated to fall to 6.14M versus 6.22M in Feb.
11:00 am EST
  • Kansas City Fed Manufacturing for April is estimated to rise to 28 versus 26 in March.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ECB Meeting, EU Services PMI report, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report, (GSX) investor day and the (SCHW) spring business update could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by technology and consumer shares in the region. I expect US stocks to open mixed and to strengthen into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

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