Thursday, January 07, 2021

Friday Watch

Evening Headlines
Wall Street Journal:
Fox News:       
Zero Hedge:
The Epoch Times:
Night Trading 
  • Asian equity indices are +.5% to +1.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 57.0 -.75 basis point.
  • China Sovereign CDS 28.25 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 62.57 -.08%.
  • Bloomberg Global Risk-On/Risk Off Index 1,886.0 +2.0 points.
  • Volatility Index(VIX) futures 24.9 -.5%.
  • FTSE 100 futures +.08%.
  • S&P 500 futures +.36%.
  • NASDAQ 100 futures +.33%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • None of Note
After the Close:
  •  None of note
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for Dec. is estimated to fall to 50K versus 245K in Nov.
  • The Unemployment Rate for Dec. is estimated to rise to 6.8% versus 6.7% in Nov.
  • Average Hourly Earnings MoM for Dec. is estimated to rise +.2% versus a +.3% gain in Nov.
3:00 pm EST
  • Consumer Credit for Nov. is estimated to rise to $9.0B versus $7.228B in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed Vice Chair Clarida speaking and the Eurozone Trade Balance report could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial 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.

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