Thursday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 87.0 -1.0 basis point.

• China Sovereign CDS 38.0 unch.
  

• Bloomberg Emerging Markets Currency Index 59.56 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 2,951.0 -12.0 points.
• Volatility Index(VIX) futures 19.9 +.85%.
• FTSE 100 futures +.22%.

• S&P 500 futures -.03%.

• NASDAQ 100 futures -.13%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (BIDU)/13.36
• (DDS)/1.69
  

After the Close:

• (ABNB)/-.23
• (COHR)/1.65
• (DASH)/.04
• (DIS)/.55
  

Economic Releases

8:30 am EST

• Initial Jobless Claims for last week are estimated to fall to 375K versus 385K the prior week.
• Continuing Claims are estimated to fall to 2900K versus 2930K prior.
• PPI Final Demand MoM for July is estimated to rise +.6% versus a +1.0% gain in June.
• PPI Ex Food and Energy MoM for July is estimated to rise +.5% versus a +1.0% gain in June.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The UK GDP report, Eurozone Industrial Production report, $27B 30Y T-Bond auction, weekly Langer Consumer Comfort Index, (IDXX) investor day and the (FEYE) August investor briefing 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 modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.