Thursday, October 06, 2022

Friday Watch

Evening Headlines

Bloomberg:        
Fox News:
Zero Hedge:
Newsmax:  
TheGatewayPundit.com:
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -1.0% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 180.25 +9.25 basis points. 
  • China Sovereign CDS 100.0 +2.25 basis points.
  • Bloomberg Emerging Markets Currency Index 47.18 -.04%   
  • Bloomberg Global Risk-On/Risk Off Index 47.87 +.62%. 
  • Bloomberg US Financial Conditions Index -1.04 -1.0 basis point.
  • Volatility Index(VIX) futures 29.82 -.08%
  • Euro Stoxx 50 futures -.38%.
  • S&P 500 futures -.1%.
  • NASDAQ 100 futures -.16%  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for Sept. is estimated to fall to 250K versus 315K in Aug.
  • The Unemployment Rate for Sept. is estimated at 3.7% versus 3.7% in Aug.
  • Average Hourly Earnings MoM for Sept. is estimated to rise +.3% versus a +.3% gain in Aug.
10:00 am EST
  • Wholesale Trade Sales MoM for Aug. is estimated to rise +.5% versus a -1.4% decline in July.
3:00 pm EST
  • Consumer Credit for Aug. is estimated to rise to $25.0B versus $23.811B in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Trade Data report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% Net Long heading into the day.

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