Thursday, January 14, 2021

Friday Watch

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

NBC 10 Philadelphia:

  • These Are the Companies Taking a Stand on the U.S. Capitol Protest by Pulling Their Political Donations. Many of the country's biggest companies across industry sectors, from Ford Motor Co. to Airbnb to Boston Scientific, announced suspensions of all PAC donations. The list of companies pledging change, which continues to grow, included the financial services companies JPMorgan Chase, Goldman Sachs and Citigroup and the tech behemoths Microsoft, Facebook and Google. A host of other large companies, including Delta Air Lines, Wells Fargo, Walmart and Bank of America, said they would take the unprecedented events of last week into account when considering future political donations.
TheGatewayPundit.com:
The Epoch Times: 
ProtectTheVote.com: 
HereIsTheEvidence.com:
Night Trading 
  • Asian equity indices are -.5% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 61.5 +.25 basis point.
  • China Sovereign CDS 30.5 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 62.83 -.02%.
  • Bloomberg Global Risk-On/Risk Off Index 1,930.0 -23.0 points.
  • Volatility Index(VIX) futures 25.20 -.57%.
  • FTSE 100 futures +.04%.
  • S&P 500 futures -.06%.
  • NASDAQ 100 futures +.06%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (C)/1.31
  • (JPM)/2.65
  • (PNC)/2.57
  • (WFC)/.59
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • PPI Final Demand MoM for Dec. is estimated to rise +.4% versus a +.1% gain in Nov.
  • PPI Ex Food and Energy MoM for Dec. is estimated to rise +.2% versus a +.1% gain in Nov.
  • Empire Manufacturing for Jan. is estimated to rise to 6.0 versus a reading of 4.9 in Dec.
  • Retail Sales Advance MoM for Dec. is estimated unch. versus a -1.1% decline in Nov.
  • Retail Sales Ex Autos MoM for Dec. is estimated to fall -.2% versus a -.9% decline in Nov.
  • Retail Sales Ex Autos and Gas for Dec. is estimated to fall -.3% versus a -.8% decline in Nov.
9:15 am EST
  • Capacity Utilization for Dec. is estimated to rise to 73.6% versus 73.3% in Nov. 
  • Industrial Production for Dec. is estimated to rise +.5% versus a +.4% gain in Nov.
10:00 am EST
  • Business Inventories for Nov. is estimated to rise +.5% versus a +.7% gain in Oct.
  • Univ. of Mich. Consumer Sentiment for Jan. is estimated to fall to 79.7 versus 80.7 in Dec.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China GDP report could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and consumer 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.

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