Wednesday, August 18, 2021

Thursday Watch

Night Trading 
  • Asian equity indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 78.5 -5.5 basis points.
  • China Sovereign CDS 35.5 -2.0 basis points.
  • Bloomberg Emerging Markets Currency Index 59.56 -.05%.
  • Bloomberg Global Risk-On/Risk Off Index 2,395.0 -9.0 points.
  • Volatility Index(VIX) futures 21.4 -1.4%.
  • FTSE 100 futures -.57%.
  • S&P 500 futures +.02%.
  • NASDAQ 100 futures +.06%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (BJ)/.65
  • (EL)/.50
  • (KSS)/1.26
  • (M)/.18
  • (WOOF)/.19
  • (USCR)/1.42
After the Close:
  • (AMAT)/1.78
  • (ROST)/.96
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 364K versus 375K the prior week.
  • Continuing Claims are estimated to fall to 2800K versus 2866K prior.
  • Philly Fed Business Outlook Index for Aug. is estimated to rise to 23.3 versus 21.9 in July.
10:00 am EST
  • The Leading Index for July is estimated to rise +.7% versus a +.7% gain in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Inflation Data report, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report, 2Q Mortgage Delinquencies/MBA Mortgage Foreclosures reports and the (UHAL) investor meeting could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are lower, weighed down by commodity and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 75% net long heading into the day.

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