Wednesday, April 28, 2021

Thursday Watch

Evening Headlines
Bloomberg:           
Wall Street Journal:
Fox News:
CNBC.com:
MarketWatch.com:       
Zero Hedge:
Newsmax:
TheGatewayPundit.com:
The Epoch Times:
Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 81.5 unch.
  • China Sovereign CDS 38.0 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 61.26 +.05%.
  • Bloomberg Global Risk-On/Risk Off Index 3,213.0 -1.0 point.
  • Volatility Index(VIX) futures 19.6 -.3%.
  • FTSE 100 futures +.06%.
  • S&P 500 futures +.33%.
  • NASDAQ 100 futures +.62%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AGCO)/1.11
  • (ATI)-.25
  • (ADS)/3.09
  • (AB)/.76
  • (MO)/1.04
  • (AMT)/2.28
  • (BAX)/.64
  • (BLMN)/.32
  • (BMY)/1.82
  • (BC)/1.44
  • (CAT)/1.88
  • (CTXS)/1.43
  • (CMCSA)/.58
  • (DISH)/.84
  • (DPZ)/2.93
  • (FCN)/1.34
  • (GNRC)/1.85
  • (HSY)/1.80
  • (ICE)/1.24
  • (IP)/.64
  • (KHC)/.60
  • (LH)/7.43
  • (MA)/1.56
  • (MCD)/1.80
  • (MRK)/1.63
  • (TAP)/.01
  • (NEM)/.91
  • (NOC)/5.45
  • (OSTK)/.04
  • (PH)/3.71
  • (RCL)/-4.62
  • (SWI)/.19
  • (STRA)/1.56
  • (TROW)/2.87
  • (VC)/.32
After the Close:
  • (AEM)/.69
  • (AMZN)/9.55
  • (BZH)/.57
  • (CRUS)/.71
  • (DLR)/1.57
  • (ETH)/.47
  • (FSLR)/.77
  • (FWRD)/.62
  • (GILD)/2.08
  • (KLAC)/3.59
  • (MVIS)/-.02
  • (MHK)/2.79 
  • (SKYW)/.68
  • (SWKS)/2.35
  • (TRUP)/-.01
  • (TWTR)/.14
  • (X)/1.13
  • (VRTX)/2.70
  • (WDC)/.68
  • (ZEN)/.12
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 540K versus 547K the prior week.
  • Continuing Claims are estimated to fall to 3590K versus 3674K prior.
  • 1Q GDP is estimated to rise +6.7% versus a +4.3% gain in 4Q.
  • 1Q personal consumption is estimated to rise +10.5% versus a +2.3% gain in 4Q.
  • The 1Q Core PCE QoQ is estimated to rise +2.4% versus a +1.3% gain in 4Q.
10:00 am EST
  • Pending Home Sales MoM for March is estimated to rise +4.4% versus a -10.6% decline in Feb.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone CPI report, weekly Langer Consumer Comfort Index and the weekly EIA natural gas inventory report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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