Thursday, January 21, 2021

Friday Watch

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

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.
The Epoch Times:
Night Trading 
  • Asian equity indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 60.25 -.75 basis point.
  • China Sovereign CDS 30.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 62.66 -.04%.
  • Bloomberg Global Risk-On/Risk Off Index 2,216.0 +21.0 points.
  • Volatility Index(VIX) futures 24.85 +1.33%.
  • FTSE 100 futures +.01%.
  • S&P 500 futures -.16%.
  • NASDAQ 100 futures -.23%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (ALLY)/1.06
  • (BLMN)/.04
  • (KSU)/1.92
  • (EDU)/.33
  • (RF)/.42
  • (SLB)/.17
After the Close:
  • None of note
Economic Releases
9:45 am EST
  • The Markit US Manufacturing PMI for Jan. is estimated to fall to 56.5 versus 57.1 in Dec.
  • The Markit US Services PMI for Jan. is estimated to all to 53.4 versus 54.8 in Dec. 
10:00 am EST
  • Existing Home Sales for Dec. is estimated to fall to 6.56M versus 6.69M in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone PMI report could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and energy 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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