Wednesday, January 13, 2021

Thursday 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 -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 61.25 -1.25 basis points.
  • China Sovereign CDS 30.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 62.50 -.06%.
  • Bloomberg Global Risk-On/Risk Off Index 2,094.0 +43.0 points.
  • Volatility Index(VIX) futures 24.95 -.5%.
  • FTSE 100 futures +.31%.
  • S&P 500 futures +.24%.
  • NASDAQ 100 futures +.21%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (BLK)/8.26
  • (DAL)/-2.44
  • (TSM)/4.50
After the Close:
  • (PRGS)/.78
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 789K versus 787K the prior week.
  • Continuing Claims are estimated to fall to 5000K versus 5072K prior.
  • Import Price Index ex Petrol for Dec. is estimated to rise +.1% versus unch. in Nov.
  • Import Price Index YoY for Dec. is estimated to fall -.8% versus a -1.0% decline in Nov.
  • The Export Price Index MoM for Dec. is estimated to rise +.6% versus a +.6% gain in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell speaking, China Trade Balance report, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report and the (MNST) investor day could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and consumer shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.

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