Wednesday, December 09, 2020

Thursday Watch

Evening Headlines
Wall Street Journal:
Fox News:          
Zero Hedge:

The Epoch Times: 
Geller Report: 
Daily Caller:
NTD News:
Night Trading 
  • Asian equity indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 58.25 +.25 basis point.
  • China Sovereign CDS 29.5 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 62.22 +.03%.
  • Bloomberg Global Risk-On/Risk Off Index 1,344.0 +12.0 points.
  • Volatility Index(VIX) futures 24.20 -.72%
  • FTSE 100 futures -.08%.
  • S&P 500 futures +.10%.
  • NASDAQ 100 futures -.07%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (CIEN)/.63
  • (FIZZ)/.91
After the Close:
  • (AVGO)/6.20
  • (COST)/1.93
  • (PLAY)/-1.09
  • (LULU)/.87
  • (ORCL)/1.00
  • (NX)/.46
  • (MTN)/-3.66
Economic Releases
8:30 am EST:
  • Initial Jobless Claims for last week are estimated to rise to 725K versus 712K the prior week.
  • Continuing Claims are estimated to fall to 5210K versus 5520K prior.
  • The CPI MoM for Nov. is estimated to rise +.1% versus unch. in Oct.
  • The CPI Ex Food and Energy MoM for Nov. is estimated to rise +.1% versus unch. in Oct.
  • Real Avg. Weekly Earnings YoY for Nov.
12:00 pm EST
  • 3Q Household Change in Net Worth.
2:00 pm EST
  • The Monthly Budget Statement for Nov. is estimated at -$200.0B versus -$208.8B in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ECB decision/press conference, (PFE) covid vaccine approval FDA meeting, UK GDP report, $24B 30Y T-Note auction, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, (NTGR) analyst day, (EW) investor day and the (DIS) investor day could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly 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.

No comments: