Tuesday, January 19, 2021

Wednesday 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 62.0 -1.25 basis points.
  • China Sovereign CDS 31.25 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 62.48 +.1%.
  • Bloomberg Global Risk-On/Risk Off Index 2,048.0 +47.0 points.
  • Volatility Index(VIX) futures 25.30 +.3%.
  • FTSE 100 futures +.44%.
  • S&P 500 futures +.22%.
  • NASDAQ 100 futures +.48%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (ASML)/2.46
  • (BK)/.91
  • (CBSH)/.93
  • (FAST)/.33
  • (MS)/1.28
  • (PG)/1.51
  • (TDY)/3.17
  • (USB)/.94
  • (UNH)/2.39
After the Close:
  • (AA)/.07
  • (DFS)/2.29
  • (JEF)/.59
  • (KMI)/.24
  • (UAL)/-6.42
  • (WTFC)/1.41
Economic Releases
10:00 am EST
  • The NAHB Housing Market Index for Jan. is estimated at 86.0 versus 86.0 in Dec.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Inauguration Day "ceremonies", UK inflation data report, Eurozone inflation data report, weekly MBA Mortgage Applications report and the B. Riley Oncology Investor Conference could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

No comments: