Wednesday, November 18, 2020

Thursday Watch

Evening Headlines
Bloomberg:                             
Wall Street Journal:
Fox News: 
CNBC.com:
MarketWatch.com:         
Zero Hedge:
Newsmax:
@kylenabecker:

 @RealDonaldTrump: 

The Epoch Times:
Night Trading 
  • Asian equity indices are -.5% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 60.5 +.25 basis point.
  • China Sovereign CDS 32.0 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 61.16 -.08%.
  • Bloomberg Global Risk-On/Risk Off Index 1,046.0 +6.0 points.
  • Volatility Index(VIX) futures 24.85 -.10%
  • FTSE 100 futures -.94%.
  • S&P 500 futures -.04%.
  • NASDAQ 100 futures -.13%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (BJ)/.65
  • (CPB)/.91
  • (CSIQ)/-.24
  • (M)/-.82
  • (NTES)/2.93
  • (SINA)/.77
  • (PLCE)/.51
  • (WB)/.60
After the Close:
  • (HP)/-.75
  • (INTU)/.42
  • (POST)/.77
  • (ROST)/.62
  • (WSM)/1.48
  • (WDAY)/.67
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 700K versus 709K the prior week.
  • Continuing Claims are estimated to fall to 6400K versus 6786K prior.
10:00 am EST
  • The Leading Index for Oct. is estimated to rise +.7% versus a +.7% gain in Sept.
  • Existing Home Sales for Oct. is estimated to fall to 6.46M versus 6.54M in Sept.
11:00 am EST
  • Kansas City Fed Manufacturing Activity for Nov. is estimated to fall to 11.0 versus 13.0 in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Inflation Data report, Bloomberg Economic Expectations Index for Nov., weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, BofA Consumer/Retail Conference, Deutsche Bank Gaming/Loding/Leisure/Restaurant Conference, Canaccord Medtech/Diagnostics Forum, (DOV) investor meeting, (TRN) investor day and the JPMorgan Services Investor Conference could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are lower, weighed down by technology and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

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