Thursday, February 04, 2021

Friday Watch

Evening Headlines
Bloomberg:              
Wall Street Journal:
Fox News:   
CNBC.com:
MarketWatch.com: 
Zero Hedge:
Newsmax:
TheGatewayPundit.com:
The Epoch Times: 
Night Trading 
  • Asian equity indices are unch. to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 59.0 -.5 basis point.
  • China Sovereign CDS 29.75 unch.
  • Bloomberg Emerging Markets Currency Index 62.22 -.04%.
  • Bloomberg Global Risk-On/Risk Off Index 2,259.0 +10.0 points.
  • Volatility Index(VIX) futures 27.05 +1.15%.
  • FTSE 100 futures -.15%.
  • S&P 500 futures -.06%.
  • NASDAQ 100 futures -.10%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AON)/2.46
  • (BERY)/.97
  • (CAH)/1.45
  • (CBOE)/1.23
  • (EL)/1.69
  • (ITW)/1.77
  • (REGN)/8.29
  • (SNY)/1.17
  • (SPB)/.77
  • (UI)/1.77
  • (ZBH)/2.06
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for Jan. is estimated to rise to 100K versus -140K in Dec.
  • The Unemployment Rate for Jan. is estimated at 6.7% versus 6.7% in Dec.
  • Average Hourly Earnings MoM for Jan. is estimated to rise +.3% versus a +.8% gain in Dec. 
  • The Trade Balance for Dec. is estimated to rise to -$65.7B versus -$68.1B in Nov.
3:00 pm EST
  • Consumer Credit for Dec. is estimated to fall to $12.0B versus $15.274B in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German Factory Orders report could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial 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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