Thursday, September 10, 2020

Friday Watch

Evening Headlines
Bloomberg:              
Wall Street Journal:
Fox News:
CNBC.com:
MarketWatch.com:       
Zero Hedge:
Night Trading 
  • Asian equity indices are -1.0% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 59.5 +.75 basis point.
  • China Sovereign CDS 37.25 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 60.51 +.03%.
  • Bloomberg Global Risk-On/Risk Off Index 51.0.0 +7.0 points.
  • Volatility Index(VIX) futures 32.80 +.38%
  • FTSE 100 futures -.46%.
  • S&P 500 futures +.44%.
  • NASDAQ 100 futures +.55%.
Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:
  • (KR)/.54
After the Close:
  • None of note
Economic Releases
8:30 am EST:
  • The CPI MoM for August is estimated to rise +.3% versus a +.6% gain in July.
  • The CPI Ex Food and Energy MoM for August is estimated to rise +.2% versus a +.6% gain in July.
  • Real Avg. Weekly Earnings YoY for August.
2:00 pm EST
  • Monthly Budget Statement for Aug. is estimated to widen to -$235.4B versus -$200.3B in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Money Supply report, Goldman Biotech Symposium, Bloomberg Sept. US Economic Survey and the UBS Covid-19 Vaccine Symposium could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and commodity 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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