Thursday, August 24, 2023

Friday Watch

Night Trading 

  • Asian equity indices are -1.0% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 130.0 +8.0 basis points. 
  • China Sovereign CDS 83.75 +4.5 basis points.
  • China Iron Ore Spot 112.3 USD/Metric Tonne +.4%.
  • Bloomberg Emerging Markets Currency Index 43.1 -.17%.
  • Bloomberg Global Risk-On/Risk Off Index 68.9 +.9%. 
  • Bloomberg US Financial Conditions Index 26.0 -4.0 basis points.
  • Volatility Index(VIX) futures 17.9 -.6%.
  • Euro Stoxx 50 futures -.19%.
  • S&P 500 futures +.13%.
  • NASDAQ 100 futures +.02%.  
Morning Preview Links

BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the day.

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