Wednesday, January 06, 2021

Thursday Watch

Evening Headlines
Wall Street Journal:
Fox News:    
Zero Hedge:
The Epoch Times:
Night Trading 
  • Asian equity indices are -.25% to +1.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 57.75 unch.
  • China Sovereign CDS 28.5 unch.
  • Bloomberg Emerging Markets Currency Index 63.14 -.05%.
  • Bloomberg Global Risk-On/Risk Off Index 1,642.0 +61.0 points.
  • Volatility Index(VIX) futures 25.5 -3.1%.
  • FTSE 100 futures +.59%.
  • S&P 500 futures +.61%.
  • NASDAQ 100 futures +.88%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (AYI)/1.86
  • (ANGO)/-.02
  • (BBBY)/.21
  • (CCL)/-1.84
  • (CAG)/.74
  • (STZ)/2.24
  • (HELE)/3.01
  • (LNN)/.75
  • (FIZZ)/.71
  • (WBA)/1.04
After the Close:
  • (MU)/.68
  • (PSMT)/.67
  • (WDFC)/1.03
Economic Releases
7:30 am EST
  • The Challenger Job Cuts YoY report for Dec.
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 803K versus 787K the prior week.
  • Continuing Claims are estimated to fall to 5300K versus 5219K prior. 
  • The Trade Deficit for Nov. is estimated to widen to -$67.3B versus -$63.1B in Oct.
10:00 am EST
  • The ISM Services Index for Dec. is estimated to fall to 54.5 versus 55.9 in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Consumer Confidence report, China Trade Balance report, weekly EIA natural gas inventory report and the weekly Bloomberg Consumer Comfort Index could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.