Wednesday, July 21, 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 +.25% to +1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 85.5 -.5 basis point.
  • China Sovereign CDS 38.25 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 59.92 +.02%.
  • Bloomberg Global Risk-On/Risk Off Index 2,854.0 +24.0 points.
  • Volatility Index(VIX) futures 20.10 -.04%.
  • FTSE 100 futures +.19%.
  • S&P 500 futures +.11%.
  • NASDAQ 100 futures +.16%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ABB)/.40
  • (ABT)/1.02
  • (ALK)/-.45
  • (AAL)/-1.72
  • (T)/.79
  • (BIIB)/4.60
  • (BX)/.77
  • (CLF)/1.51
  • (DHI)/2.81
  • (DHR)/2.05
  • (DPZ)/2.88
  • (DOW)/2.35
  • (FITB)/.81
  • (FCX)/.75
  • (GPC)/1.54
  • (NEM)/.77
  • (NUE)/4.78
  • (POOL)/5.48
  • (DGX)/2.85
  • (RS)/4.89
  • (SGMS)/.08
  • (SNA)/3.24
  • (LUV)/-.26
  • (UNP)/2.54
After the Close:
  • (OZK)/.92
  • (SAM)/6.91
  • (COF)/4.51
  • (CSL)/2.22
  • (FE)/.56
  • (INTC)/1.07
  • (RHI)/1.04
  • (SNAP)/-.01
  • (TWTR)/.07
  • (VRSN)/1.37
Economic Releases
8:30 am EST
  • The Chicago Fed National Activity Index for June is estimated to rise to .3 versus .29 in May.
  • Initial Jobless Claims for last week are estimated to fall to 350K versus 360K the prior week. 
  • Continuing Claims are estimated to fall to 3100K versus 3241K prior.
10:00 am EST
  • The Leading Index for June is estimated to rise +.9% versus a +1.3% gain in May.
  • Existing Home Sales for June is estimated to rise to 5.9M versus 5.8M in May.
11:00 am EST
  • Kansas City Fed Manufacturing Activity for July is estimated to fall to 25.0 versus 27.0 in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ECB meeting, Eurozone IFO Guidance, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report and the (SCHW) 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 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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