Tuesday, April 29, 2025

Wednesday Watch

Around X:

  • @ElonMusk
  • Last week, Treasury went live with its first automated payment verification system. In total, $334 million in improper payment requests were identified and rejected due to: -Missing budget codes -Invalid budget codes (i.e. the payment was not linked to the budget) -Budget codes with no authorization (i.e. the budget had already been fully spent). This is a big deal.
  • @ZeroHedge
  • @MarioNawful
  • THE INVISIBLE PUPPET MASTERS: AI'S DISTURBING NEW ROLE IN SHAPING MINDS. The revelation that University of Zurich researchers secretly deployed AI bots to manipulate Reddit users' opinions should chill anyone who values authentic human discourse. These weren't merely passive observers—they were digital persuaders that analyzed users' personal histories, fabricated identities, and crafted arguments specifically designed to change minds. Most troubling? 
  • TRUMP: PUTIN SAW WHAT HAPPENED WITH AFGHANISTAN AND WENT FOR UKRAINE. "I think if it weren't for me, he'd want the whole country. When I left, there was no chance this would happen. Biden got involved, and the war started. Putin saw Afghanistan—how incompetently others handled it. One of the greatest embarrassments in U.S. history." (video) 
  • TRUMP ON DOGE: WE FOUND A LOT OF FRAUD AND ENDED IT... SAVED BILLIONS OF DOLLARS. “We also found tremendous waste, fraud and abuse. As you know, we found a lot of fraud. There was a lot of fraud, fraudulent things were taking place, and we ended that, and those people are gonna be suffering because of it.” (video)
  • TRUMP: WE HAVE THOUSANDS OF MURDERERS WHO CAME IN ILLEGALLY. “I can't have a trial — a major trial — for every person that came in illegally. We have thousands of murderers that came in. They're gonna murder people. They already have murdered people in our country.” (video)
  • TRUMP: 11,888 MURDERERS CAME IN — SOME KILLED MORE THAN ONCE. “They were allowing people to come in from prisons, as you know, and you've heard me say it, but you've heard a lot of people say it. Prisons, mental institutions, gang members, murderers. We had many murderers—11,888. They think some murdered more than one person.” (video)
  • TRUMP: IN JUST THREE MONTHS, I’VE ALREADY STARTED FIXING BIDEN’S UNSUSTAINABLE TRADE DISASTER. "I've been here for three months. I've taken a trade deficit down to a number that's starting to get really good. What Biden did to this country—with open borders and every country ripping us off on trade—was not sustainable." (video)
  • TRUMP: WE WERE LOSING $5B A DAY ON TRADE—TARIFFS FIXED IT WITHOUT INFLATION. "This is what I campaigned on. We were losing $3 to $5 billion a day on trade—$1.5 to $2 trillion a year. I could’ve left it that way, but it would’ve led to an implosion. We had the best economy, no inflation, and took hundreds of billions from China in tariffs. We had to fix it." 
  • TRUMP: NO CUTS TO MEDICARE, SOCIAL SECURITY, OR MEDICAID — WE’RE INVESTING MORE. “We will always protect Medicare and Social Security for our great seniors with no cuts, and we will defend Medicaid for those great people who are in need. House Republicans are working to invest more money in Medicaid than we spend today.” 
  • TRUMP: NVIDIA, TSMC, AMAZON ARE POURING HUNDREDS OF BILLIONS INTO THE U.S. "My friend Jensen from Nvidia — they're spending, you know what Nvidia is? They're spending $500 billion. TSMC, the biggest chipmaker in the world by far from Taiwan — they're spending $200 billion in the United States. Amazon, $21 billion. Johnson & Johnson, $55 billion. The Mac, $20 billion. Merck, General Motors are putting in billions and billions of dollars, and many other companies.” (video)
  • @mercoglianos
  • @catturd
  • New Canadian PM Mark Carney: "We have an enormous opportunity to bring climate change into the heart of every financial decision." "We can deliver the net zero world that you've demanded, and that our future generations deserve." An entire country about to be destroyed over a hoax. (video)
  • @WallStreetApes
  • @Liz_Churchill10
  • @VigilantFox
  • @goddeketal
Night Trading 
  • Asian equity indices are -.25% to +.5% on average. 
  • Asia Ex-Japan Investment Grade CDS Index 94.75 +1.0 basis point. 
  • China Sovereign CDS 59.0 -1.25 basis points.
  • China Iron Ore Spot 98.4 USD/Metric Tonne -.06%
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.83 +.02%.
  • Bloomberg Emerging Markets Currency Index 37.0 -.01%.
  • Bloomberg Global Risk-On/Risk Off Index 59.8 +.4%.
  • US 10-Year Yield 4.16% -1.0 basis point.
  • Volatility Index(VIX) futures 23.6 +.8%.
  • Euro Stoxx 50 futures -.06%. 
  • S&P 500 futures -.39%. 
  • NASDAQ 100 futures -.59%.
Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and consumer discretionary shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.

Stocks Reversing Higher into Final Hour on US Global Trade Deal Hopes, Lower Long-Term Rates, Earnings Outlook Optimism, Pharma/Transport Sector Strength

Broad Equity Market Tone:

  • Advance/Decline Line: Substantially Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Around Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 23.9 -4.9%
  • S&P 500 Intraday % Swing .83 -46.4%
  • Bloomberg Global Risk On/Risk Off Index 60.8 +2.2% 
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.82 -.75%
  • Euro/Yen Carry Return Index 181.8 -.12%
  • Emerging Markets Currency Volatility(VXY) 8.6 -.2%
  • CBOE S&P 500 Implied Correlation Index 33.5 -3.0% 
  • ISE Sentiment Index 127.0 +2.0
  • Total Put/Call .91 +7.1%
  • NYSE Arms 1.36 +58.1%
  • NYSE Non-Block Money Flow -$206.9M 
Credit Investor Angst:
  • North American Investment Grade CDS Index 67.0 -.4%
  • US Energy High-Yield OAS 466.2 +2.8%
  • Bloomberg TRACE # Distressed Bonds Traded 275.0 +18.0
  • European Financial Sector CDS Index 71.1 +.9%
  • Deutsche Bank Subordinated 5Y Credit Default Swap 160.0 -3.0%
  • Italian/German 10Y Yld Spread 111.0 basis points unch.
  • Asia Ex-Japan Investment Grade CDS Index 94.6 +.8%
  • Emerging Market CDS Index 195.2 -.2%
  • Israel Sovereign CDS 102.4 +1.4%
  • China Corp. High-Yield Bond USD ETF(KHYB) 23.7 -.16%
  • 2-Year SOFR Swap Spread -24.0 basis points -.75 basis point
  • 3M T-Bill Treasury Repo Spread -6.5 basis point -3.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -1.75 +.25 basis point
  • MBS  5/10 Treasury Spread 158.0 +1.0 basis point
  • Bloomberg CMBS Investment Grade Bbb Average OAS 639.0 -1.0 basis point
  • Avg. Auto ABS OAS 77.0 -3.0 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 36.99 +.06% 
  • US 10-Year T-Note Yield 4.17% -3.0 basis points
  • 3-Month T-Bill Yield 4.28% -1.0 basis point
  • China Iron Ore Spot 98.4 USD/Metric Tonne -.06%
  • Dutch TTF Nat Gas(European benchmark) 31.9 euros/megawatt-hour -1.7%
  • Citi US Economic Surprise Index -6.2 -7.0 points
  • Citi Eurozone Economic Surprise Index -19.3 -7.1 points
  • Citi Emerging Markets Economic Surprise Index 13.5 +.2 point
  • S&P 500 Current Quarter EPS Growth Rate YoY(216 of 500 reporting) +15.1% -2.4 percentage points
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 275.67 -.09:  Growth Rate +12.2% unch., P/E 20.1 +.2
  • S&P 500 Current Year Estimated Profit Margin 13.40% -1.0 basis point
  • NYSE FANG+ Current Quarter EPS Growth Rate YoY(3 of 10 reporting) +43.2% unch.
  • NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 421.39 +.44: Growth Rate +21.9% +.2 percentage point, P/E 29.2 +.3
  • Bloomberg US Financial Conditions Index -.24 -3.0 basis points
  • Bloomberg Euro-Zone Financial Conditions Index .98 +1.0 basis point
  • Bloomberg Global Trade Policy Uncertainty Index 10.7 +.1
  • US Yield Curve 51.5 basis points (2s/10s) -1.0 basis point
  • US Atlanta Fed GDPNow Q1 Forecast -2.7% -20.0 basis points
  • US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 45.8% +2.5 percentage points
  • Cleveland Fed Inflation Nowcast Core PCE YoY +2.54% unch.: CPI YoY +2.35% unch.
  • 1-Year TIPS Spread 3.21 -5.0 basis points
  • 10-Year TIPS Spread 2.23 -3.0 basis points
  • Highest target rate probability for June 18th FOMC meeting: 57.2% (unch.) chance of 4.0%-4.25%. Highest target rate probability for July 30th meeting: 49.3%(+3.0 percentage points) chance of 3.75%-4.0%. (current target rate is 4.25-4.5%)
Overseas Futures:
  • Nikkei 225 Futures: Indicating +370 open in Japan 
  • China A50 Futures: Indicating -21 open in China
  • DAX Futures: Indicating +210 open in Germany
Portfolio:
  • Higher: On gains in my utility/tech/industrial/consumer discretionary sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges 
  • Market Exposure: Moved to 100% Net Long

Bull Radar

Style Outperformer:

  • Small-Cap Growth +1.1%
Sector Outperformers:
  • 1) Digital Health +2.4% 2) Pharma +1.9% 3) Cyber Security +1.6%
Stocks Rising on Unusual Volume:
  • KMSA, HIMS, HSAI, CECO, MTSR, THC, FOUR, TRS, VKTX, GPCR, CEP, OKTA, NE, CCK, SFD, VRNA, DYN, ZBRA, SBAC, CR, SEI, SHW, ATRC, CDNS, BHF, NWBI, HON, LH, DB, COCO, AWI, NVO, TWO, ABCB, AOS, OGN, CWH, SRRK, LTM, SXT and CADE
Stocks With Unusual Call Option Activity:
  • 1) WW 2) Z 3) AMCR 4) BULL 5) KMI
Stocks With Most Positive News Mentions:
  • 1) HIMS 2) CLVT 3) OMH 4) WW 5) KNSA
Sector ETFs With Most Positive Money Flow:
  • 1) XLP 2) XLF 3) IGV 4) KRE 5) XBI
Charts:

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:
  • (ADP)/2.97
  • (CAT)/4.35
  • (CHEF)/.19
  • (EME)/4.63
  • (ETSY)/.47
  • (FSS)/.73
  • (GRMN)/1.63
  • (WGS)/.06
  • (GNRC)/.96
  • (GSK)/1.04
  • (HES)/1.64
  • (HUM)/10.07
  • (ITW)/2.34
  • (IP)/.38
  • (MLM)/1.88
  • (NCLH)/1.09
  • (OSK)/2.05
  • (PAG)/3.28
  • (PEG)/1.44
  • (SMG)/3.93
  • (SWK)/.66
  • (TW)/.86
  • (VMC)/.86
  • (WDC)/1.11
  • (WING)/.86
  • (XPO)/.66
  • (YUM)/1.29
After the Close: 
  • (AFL)/1.67
  • (ALB)/-.65
  • (ALGN)/1.99
  • (ALL)/2.52
  • (AVB)/2.81
  • (CHRW)/1.05
  • (CP)/1.04
  • (CAKE)/.81
  • (CGNX)/.13
  • (CCI)/1.02
  • (EBAY)/1.34
  • (GH)/-.76
  • (KLAC)/8.09
  • (META)/5.23
  • (MET)/2.00
  • (MGM)/.47
  • (MSFT)/3.22
  • (MYRG)/1.20
  • (PPC)/1.33
  • (PRU)/3.18
  • (QCOM)/2.82
  • (HOOD)/.33
  • (SFM)/1.55
  • (RGR)/.65 
  • (WH)/.82
Economic Releases

8:15 am EST

  • The ADP Employment Change for April is estimated at +115K versus +155K in March.

8:30 am EST

  • 1Q GDP is estimated to rise +.2% versus a +2.4% gain in 4Q.
  • 1Q Personal Consumption is estimated to rise +1.2% versus a +4.0% gain in 4Q.
  • 1Q GDP Price Index is estimated to rise +3.1% versus a +2.3% gain in 4Q.
  • 1Q Core PCE Price Index QoQ is estimated to rise +3.2% versus a +2.6% gain in 4Q.
  • The 1Q Employment Cost Index is estimated to rise +.9% versus a +.9% gain in 4Q.

9:45 am EST

  • The MNI Chicago PMI for April is estimated to fall to 46.0 versus 47.6 in March.

10:00 am EST

  • Personal Income for March is estimated to rise +.4% versus a +.8% gain in Feb.
  • Personal Spending for March is estimated to rise +.6% versus a +.4% gain in Feb.
  • The Core PCE Price Index MoM for March is estimated to rise +.1% versus a +.4% gain in Feb. 
  • Pending Home Sales MoM for March is estimated to rise +1.0% versus a +2.0% gain in Feb.

Upcoming Splits

  • None of note
Other Potential Market Movers
  • The Atlanta Fed GDPNow Q2 update, Dallas Fed PCE for March, weekly MBA mortgage applications report, American Assoc. for Cancer Research Meeting, (WYNN) annual meeting, (KO) annual meeting, (POOL) annual meeting, (PHM) annual meeting, (NRG) annual meeting, (OLN) annual meeting and the (MRNA) annual meeting could also impact global trading tomorrow.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST

Morning Market Internals

NYSE Composite Index:

  • Volume Running +.1% Above 100-Day Average 
  • Nasdaq/NYSE Volume Ratio 35.4 +13.0
  • 3 Sectors Declining, 8 Sectors Rising
  • 50.9% of Issues Advancing, 46.3% Declining 
  • TRIN/Arms 1.03 +19.8%
  • Non-Block Money Flow -$180.1M
  • 23 New 52-Week Highs, 10 New Lows
  • 29.7% (-2.3%) of Issues Above 200-day Moving Average
  • Average 14-Day RSI 54.7 +1.8
Other:
  • Bloomberg Global Risk-On/Risk-Off Index 59.9 +.8%
  • Bloomberg Cyclicals/Defensives Index 228.2 -.4%
  • Russell 1000: Growth/Value 20,111.0 -.1%
  • CNN Fear & Greed Index 36.0 (FEAR) unch.
  • 1-Day Vix 18.4 -13.8%
  • Vix 25.0 -.6%
  • Total Put/Call .80 -5.8%

Monday, April 28, 2025

Tuesday Watch

Night Trading 

  • Asian equity indices are unch. to +.5% on average. 
  • Asia Ex-Japan Investment Grade CDS Index 93.75 -1.25 basis points. 
  • China Sovereign CDS 60.25 -1.25 basis points.
  • China Iron Ore Spot 98.3 USD/Metric Tonne -.11%
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.87 -.2%.
  • Bloomberg Emerging Markets Currency Index 37.0 -.01%.
  • Bloomberg Global Risk-On/Risk Off Index 59.6 +.2%.
  • US 10-Year Yield 4.21% unch.
  • Volatility Index(VIX) futures 23.6 -.5%.
  • Euro Stoxx 50 futures +.10%. 
  • S&P 500 futures +.10%. 
  • NASDAQ 100 futures +.15%.
Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology 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 day.

Stocks Reversing Slightly Higher into Final Hour on US Global Trade Deal Hopes, Lower Long-Term Rates, Short-Covering, Telecom/Biotech Sector Strength

Broad Equity Market Tone:

  • Advance/Decline Line: Slightly Lower
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 25.7 +3.6%
  • S&P 500 Intraday % Swing 1.44 +8.5%
  • Bloomberg Global Risk On/Risk Off Index 58.1 -2.5% 
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.87 +.74%
  • Euro/Yen Carry Return Index 182.1 -.6%
  • Emerging Markets Currency Volatility(VXY) 8.6 -2.2%
  • CBOE S&P 500 Implied Correlation Index 35.0 +1.0% 
  • ISE Sentiment Index 126.0 -20.0
  • Total Put/Call .87 +7.4%
  • NYSE Arms .82 -42.7%
  • NYSE Non-Block Money Flow -$103.4M 
Credit Investor Angst:
  • North American Investment Grade CDS Index 67.6 +1.8%
  • US Energy High-Yield OAS 453.4 +2.1%
  • Bloomberg TRACE # Distressed Bonds Traded 257.0 unch.
  • European Financial Sector CDS Index 70.5 -.7%
  • Deutsche Bank Subordinated 5Y Credit Default Swap 165.1 -1.8%
  • Italian/German 10Y Yld Spread 111.0 basis points +1.0 basis point
  • Asia Ex-Japan Investment Grade CDS Index 94.1 -1.9%
  • Emerging Market CDS Index 195.6 +1.2%
  • Israel Sovereign CDS 101.0 -1.8%
  • China Corp. High-Yield Bond USD ETF(KHYB) 23.9 +.15%
  • 2-Year SOFR Swap Spread -23.25 basis points +1.25 basis points
  • 3M T-Bill Treasury Repo Spread -3.0 basis point -4.0 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -2.0 -.5 basis point
  • MBS  5/10 Treasury Spread 157.0 unch.
  • Bloomberg CMBS Investment Grade Bbb Average OAS 640.0 -3.0 basis points
  • Avg. Auto ABS OAS 80.0 +5.0 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 37.0 +.13% 
  • US 10-Year T-Note Yield 4.21% -2.0 basis points
  • 3-Month T-Bill Yield 4.29% unch.
  • China Iron Ore Spot 98.5 USD/Metric Tonne +.04%
  • Dutch TTF Nat Gas(European benchmark) 32.4 euros/megawatt-hour -.1%
  • Citi US Economic Surprise Index .8 -.1 point
  • Citi Eurozone Economic Surprise Index -12.2 -4.4 points
  • Citi Emerging Markets Economic Surprise Index 13.3 +1.1 points
  • S&P 500 Current Quarter EPS Growth Rate YoY(181 of 500 reporting) +17.5% -.1 percentage point
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 275.76 +.33:  Growth Rate +12.2% +.1 percentage point, P/E 19.9 unch.
  • S&P 500 Current Year Estimated Profit Margin 13.41% unch.
  • NYSE FANG+ Current Quarter EPS Growth Rate YoY(3 of 10 reporting) +43.2% unch.
  • NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 420.95 +3.00: Growth Rate +21.7% +.8 percentage point, P/E 28.9 -.3
  • Bloomberg US Financial Conditions Index -.21 +5.0 basis points
  • Bloomberg Euro-Zone Financial Conditions Index .97 +4.0 basis points
  • Bloomberg Global Trade Policy Uncertainty Index 10.6 +.3
  • US Yield Curve 52.5 basis points (2s/10s) +2.5 basis points
  • US Atlanta Fed GDPNow Q1 Forecast -2.5% unch.
  • US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 43.3% +1.0 percentage point
  • Cleveland Fed Inflation Nowcast Core PCE YoY +2.54% unch.: CPI YoY +2.35% unch.
  • 1-Year TIPS Spread 3.26 +3.0 basis points
  • 10-Year TIPS Spread 2.26 -1.0 basis point
  • Highest target rate probability for June 18th FOMC meeting: 57.2% (unch.) chance of 4.0%-4.25%. Highest target rate probability for July 30th meeting: 49.3%(+3.0 percentage points) chance of 3.75%-4.0%. (current target rate is 4.25-4.5%)
Overseas Futures:
  • Nikkei 225 Futures: Indicating +120 open in Japan 
  • China A50 Futures: Indicating -10 open in China
  • DAX Futures: Indicating +201 open in Germany
Portfolio:
  • Slightly Higher: On gains in my utility/tech/industrial sector longs
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges and then covered some
  • Market Exposure: 75% Net Long

Bear Radar

Style Underperformer:

  • Large-Cap Growth +1.1%
Sector Underperformers:
  • 1) Semis -2.2% 2) Oil Service -1.1% 3) Software -1.1%
Stocks Falling on Unusual Volume: 
  • JHX, CIB, SRRK, CEP, BWLP, AVTR, SMLR, FWRG, BULL, INMD and GRPN
Stocks With Unusual Put Option Activity:
  • 1) SABR 2) ZTS 3) EQT 4) OMEX 5) PLUG
Stocks With Most Negative News Mentions:
  • 1) FLNC 2) RKLB 3) BBAI 4) UCTT 5) INMD
Sector ETFs With Most Negative Money Flow:
  • 1) SMH 2) KRE 3) PPH 4) XLB 5) ARKK

Bull Radar

Style Outperformer:

  • Mid-Cap Value -.1%
Sector Outperformers:
  • 1) Telecom +.8% 2) Shipping +.7% 3) Biotech +.6%
Stocks Rising on Unusual Volume:
  • PONY, CGON, ZYBT, CHA, SKBL, SMMT, OPRA, EWTX, BBWI, VRNA, ZK, PCRX, CLMT, EXTR, LI, OGN, SMG, BZ, CYD, SWTX, MTSR and MNSO
Stocks With Unusual Call Option Activity:
  • 1) ARRY 2) XP 3) PLUG 4) SPCE 5) SWTX
Stocks With Most Positive News Mentions:
  • 1) PLUG 2) CGON 3) BHVN 4) NIO 5) PROV
Sector ETFs With Most Positive Money Flow:
  • 1) IGV 2) BUG 3) XLE 4) XLV 5) XLC
Charts:

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:
  • (MO)/1.19
  • (AMT)/2.61
  • (ARCB)/.51
  • (AWI)/1.53
  • (AZN)/1.12
  • (EAT)/2.57
  • (KO)/.72
  • (CVLT)/.93
  • (GLW)/.51
  • (ETR)/.69
  • (GM)/2.68
  • (HLT)/1.61
  • (HON)/2.21
  • (JBLU)/-.63
  • (KHC)/.60
  • (LH)/3.74
  • (LGIH)/.63
  • (PCAR)/1.58
  • (PYPL)/1.16
  • (PFE)/.67
  • (REGN)/8.62
  • (RGEN)/.35
  • (RCL)/2.55
  • (SHW)/2.15
  • (SFD)/.48
  • (SPOT)/2.19
  • (SYY)/1.02
  • (THC)/3.12
  • (VRNA)/-.08
After the Close: 
  • (BKNG)/17.29
  • (BXP)/1.65
  • (EIX)/1.21
  • (EQR)/.94
  • (FSLR)/2.49
  • (MDLZ)/.66
  • (NBR)/-2.92
  • (PPG)/1.62
  • (STX)/1.74
  • (SNAP)/-.13
  • (SBUX)/.49
  • (LRN)/2.05
  • (V)/2.68
  • (WERN)/.12
  • (HTLD)/-.10
  • (UPS)/1.38
Economic Releases

8:30 am EST

  • The Advance Goods Trade Deficit for March is estimated at -$145.0B versus $147.9B in Feb.
  • Wholesale Inventories MoM for March is estimated to rise +.7% versus a +.3% gain in Feb.
  • Retail Inventories MoM for March is estimated to rise +.3% versus a +.1% gain in Feb.

9:00 am EST

  • The FHFA House Price Index MoM for Feb. is estimated to rise +.3% versus a +.2% gain in Jan.
  • The S&P CoreLogic CS 20-City MoM SA for Feb. is estimated to rise +.4% versus a +.46% gain in Jan.

10:00 am EST

  • JOLTS Job Openings for March is estimated to fall to 7498K versus 7568K in Feb.
  • The Conference Board Consumer Confidence Index for April is estimated to fall to 88.0 versus 92.9 in March.

Upcoming Splits

  • None of note
Other Potential Market Movers
  • The Atlanta Fed GDPNow Q1 update, weekly US retail sales reports, Texas Services Sector Outlook for April, weekly API crude oil stock report, American Assoc. for Cancer Research Meeting, (AXP) annual meeting, (BWA) annual meeting, (FLR) annual meeting, (CSCO) annual meeting, (PCAR) annual meeting, (IBM) annual meeting and the (CEG) annual meeting could also impact global trading tomorrow.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST