Monday, January 04, 2021

Tuesday Watch

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

The Epoch Times:
Washington Times: 
  • Ossoff's China ties compound Democratic Party's Hunter Biden, Swalwell woes. The Perdue campaign connected the dots in a digital ad with news clips of critics, including Sen. Marsha Blackburn, Tennessee Republican, raising concerns about Mr. Ossoff’s company receiving payments from PCCW Media, which is owned in part by China Unicom, a Chinese state-run telecommunications provider.
Daily Caller:
NTD News:
Night Trading 
  • Asian equity indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 56.75 +.75 basis point.
  • China Sovereign CDS 28.75 +.75 basis point.
  • Bloomberg Emerging Markets Currency Index 62.95 +.06%.
  • Bloomberg Global Risk-On/Risk Off Index 1,172.0 +18.0 points.
  • Volatility Index(VIX) futures 27.0 -.46%
  • FTSE 100 futures -.16%.
  • S&P 500 futures +.24%.
  • NASDAQ 100 futures +.22%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
10:00 am EST
  • ISM Manufacturing for Dec. is estimated to fall to 56.8 versus 57.5 in Nov.
  • Wards Total Vehicle Sales for Dec. is estimated to rise to 15.8M versus 15.55M in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The GA special Senate election, weekly US retail sales reports and the Eurozone Retail Sales 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 industrial and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

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