Sunday, January 08, 2023

Monday Watch

Today's Headlines

Bloomberg:                           
Wall Street Journal:
Fox News:
CNBC:
Zero Hedge:   
MarketWatch.com:            
NewsMax:  
TheGatewayPundit.com:  
Twitter:
OpenVAERS:
SKirsch.com:
Covid-19(Data, Maps, Graphs):
Night Trading
  • Asian indices are +.25% to +1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 114.0 -5.75 basis points.
  • China Sovereign CDS 59.5 -6.0 basis points.
  • China Iron Ore Spot 116.6 USD/Metric Tonne -1.1%
  • Bloomberg Emerging Markets Currency Index 47.9 +.15%.
  • Bloomberg Global Risk-On/Risk Off Index 54.6 +.09%.
  • Bloomberg US Financial Conditions Index -.16 +5.0 basis points. 
  • Volatility Index(VIX) futures 22.8 -.56%. 
  • Euro Stoxx 50 futures +.60%.
  • S&P 500 futures +.28%.
  • NASDAQ 100 futures +.33%.

Earnings of Note
Company/Estimate

Before the Open:
  • (AYI)/3.02
  • (CMC)/1.96
After the Close:
  • (AZZ)/.79
  • (JEF)/.51
  • (PSMT)/.89
  • (WDFC)/.98
Economic Releases
3:00 pm EST
  • Consumer Credit  for Nov. is estimated to fall to $25.0B versus $27.08B in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Bostic speaking, German Industrial Production report, Needham Growth Conference and the JPMorgan Healthcare Conference could also impact trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by technology and consumer shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 75% net long heading into the week.

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