Tuesday Watch

Evening Headlines 

Bloomberg:                            

• China Tests Biden With South China Sea Tactic That Misled Obama.
• Mexico Seeks to Ban Outsourcing After Agreement With Business.
• Asia Stocks Set to Rise After U.S. High; Oil Drops: Markets Wrap.
• Top Democrats Float Alternative to Biden’s Corporate-Tax Plan.
  
• BlackRock Breaks Wall Street Ranks With Planned Racial Audit.  
• NYC Tops Weekly Dose Goal; U.K. Set for Reopening: Virus Update.
• U.S. Airlines Are Bringing Back More Pilots as Travel Demand Rebounds.  
• Automakers Want Aid Set Aside for Car-Grade U.S. Chip Production.

Wall Street Journal:

• Yellen Calls for Global Minimum Corporate Tax Rate.
• GOP Criticizes Corporate Pushback on Voting Laws.
• Anatomy of a Biden Tax Hike.
• China Looms Large in Biden Infrastructure Plan.
• China Creates Its Own Digital Currency, a First for Major Economy.

Fox News:  

• Kemp believes Abrams has buyer's remorse after MLB boycott over Ga. law, accuses her of profiting.
• Rand Paul on MLB-Georgia controversy: 'If they want to boycott us, let's boycott them'.
• More MLB backlash: Texas governor won't throw first pitch at Rangers' opening back.

CNBC.com:

• Tom Lee explains why he expects to see a ‘face-ripper rally’ in April.
• Google will stop using Oracle’s finance software and adopt SAP instead.
• March jobs report gives the Fed room to keep interest rates low, Jim Cramer says.
• The Fed could come under fire for easy policy while the economy soars and inflation rises.
• GM unveils electric Hummer SUV topping $110,000. 
• Tim Cook drops some hints on Apple’s car plans, shares what he thinks of Elon Musk and Tesla.

Zero Hedge:

• Credit Suisse Dumping Huge Archegos Blocks; Liquidating Millions In VIACS, VIPS And FTCH.
• Sen. Rubio Hammers Hypocrite MLB Commish, Asks: Will You Give Up Augusta Golf Club Membership?
• South Korea's LG Abandons Smartphones As Electric Vehicles Business Sees Explosive Growth.
• Is Outside Air COVID-Safe? Are Masks Needed Outdoors?
• Japan Poised To Allow Coast Guard To Fire On Chinese Vessels In New Legislation .
• Monetary Policy At A Crossroad: Policymakers Need To Break Promise Of Easy Money To Avoid Boom-Bust.
• "It Was Intentionally False": 60 Minutes Slammed For Fabricating "Pay-For-Play" Narrative Against Gov. DeSantis.
• Jobs To Reach Pre-Pandemic Levels By Year-End: BofA.
• New York Millionaires To Pay Highest Income Tax In The Country.
• The Hunter Biden Show: Why Biden's Most "Beautiful Thing" May Be Media Collusion.
• Prosecutors Ask Jurors To Dismiss George Floyd Autopsy Findings.
• "Gestapo Not Allowed Here!" Viral Video Shows Canadian Pastor Barring 'Covid Police' From Entering Church.
• Dollar Dumped; Crude Crushed; Bonds, Bitcoin, & Big-Tech Bid.

Newsmax:

• Arizona AG Invites Harris on Border Tour to See Troubles There Firsthand.
• Biden Says Higher Corporate Taxes Won't Harm US Economy.
• Soros Group Pledges $20M to Boost Biden Plan.
  

TheGatewayPundit.com:

• Psaki Refuses To Say if Joe Biden Will Stop Lying About Georgia’s New Election Law (VIDEO).
• Breaking: Democrat Sen. Joe Manchin Rejects Joe Biden’s Corporate Tax Increase – Says More Democrats Will Join Him.
• Tim Cook from Apple Condemns Voter ID Law in Georgia — Forgets It Takes a Valid ID to Get an Apple Card.
• United Airlines Inserts Itself Into Political Arena, Condemns Voter Integrity Laws.

The Epoch Times:

• Chinese Officials Trying to Dodge COVID-19 Vaccinations, Citing Health Reasons: Leaked Documents.
• Philippines Issues Tough Statement to China as South China Sea Tensions Intensify.

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading 

• Asian equity indices are -.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 63.25 -.5 basis point.

• China Sovereign CDS 32.75 unch.

• Bloomberg Emerging Markets Currency Index 60.44 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 3,176.0 +1.0 point.
• Volatility Index(VIX) futures 21.5 +.04%.
• FTSE 100 futures +.94%.

• S&P 500 futures -.02%.

• NASDAQ 100 futures +.13%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (GBX)/-.37
• (LNN)/.86
• (PAYX)/.92
  

After the Close:

• (PACW)/.91
  

Economic Releases

10:00 am EST

• JOLTS Job Openings for Feb. is estimated to fall to 6900 versus 6917 in Jan.
  

Upcoming Splits

• (AVNW) 2-for-1
  

Other Potential Market Movers

• The China Services PMI report, RBA rate decision, Eurozone Retail Sales report, weekly US retail sales reports, Wells Fargo Biotech Corporate Access Day and the (AMAT) investor meeting could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology 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.