Thursday, March 25, 2021

Friday Watch

Night Trading 
  • Asian equity indices are +.25% to +1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 64.0 -1.5 basis points.
  • China Sovereign CDS 34.0 unch.
  • Bloomberg Emerging Markets Currency Index 60.36 +.01%.
  • Bloomberg Global Risk-On/Risk Off Index 2,564.0 -30.0 points.
  • Volatility Index(VIX) futures 22.2 -.70%.
  • FTSE 100 futures n/a.
  • S&P 500 futures +.23%.
  • NASDAQ 100 futures +.35%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • Advance Goods Trade Deficit for Feb. is estimated at -$85.9B versus -$83.7B in Jan.
  • Retail Inventories MoM for Feb. is estimated to rise +.8% versus a -.6% decline in Jan.
  • Wholesale Inventories MoM for Feb. is estimated to rise +.8% versus a +1.3% gain in Jan.
  • Personal Income for Feb. is estimated to fall -7.2% versus a +10.0% gain in Jan.
  • Personal Spending for Feb. is estimated to fall -.8% versus a +2.4% gain in Jan. 
  • The PCE Core MoM for Feb. is estimated to rise +.1% versus a +.3% gain in Jan.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone GDP report and the UK retail sales 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 industrial and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

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