Sunday, March 21, 2021

Monday Watch

Today's Headlines
Wall Street Journal:
  • Had bullish commentary on (LMT), (ELF), (SPLK) and (TSLA).
  • Had bearish commentary on (MAXR) and (IRDM).
Fox News:
Zero Hedge:     
Night Trading
  • Asian indices are -1.25% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 58.75 -1.0 basis point.
  • China Sovereign CDS 30.75 +1.75 basis points.
  • Bloomberg Emerging Markets Currency Index 60.80 +.53%.
  • Bloomberg Global Risk-On/Risk Off Index 2,794.0 -50.0 points.
  • Volatility Index(VIX) futures 23.66 +1.48%. 
  • Euro Stoxx 50 futures -.19%.
  • S&P 500 futures +.15%.
  • NASDAQ 100 futures +.11%

Earnings of Note

Before the Open:
  • None of note
After the Close:
  • (GES)/.56
  • (SNX)/1.57
Economic Releases
8:30 am EST
  • The Chicago Fed National Activity Index for Feb. is estimated to rise to .72 versus .66 in Jan. 
10:00 am EST
  • Existing Home Sales for Feb. is estimated to fall to 6.5M versus 6.69M in Jan.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell speaking, Fed's Bowman speaking, Fed's Quarles speaking, Eurzone Current Account report, Simmons Energy Conference, BofA Energy/Utilities Conference and the Piper Sandler Energy Conference could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and industrial 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 week.

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