Monday, March 15, 2021

Tuesday Watch

Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 60.75 +1.0 basis point.
  • China Sovereign CDS 31.0 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 61.42 +.01%.
  • Bloomberg Global Risk-On/Risk Off Index 2,949.0 +1.0 point.
  • Volatility Index(VIX) futures 24.2 +.93%.
  • FTSE 100 futures -.20%.
  • S&P 500 futures -.08%.
  • NASDAQ 100 futures +.02%.
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (JBL)/.82
After the Close:
  • (COUP)/-.11
  • (CRWD)/.08
  • (LEN)/1.74
Economic Releases
8:30 am EST
  • The Import Price Index MoM for Feb. is estimated to rise +1.0% versus a +1.4% gain in Jan.
  • The Export Price Index MoM for Feb. is estimated to rise +1.0% versus a +2.5% gain in Jan.
  • Retail Sales Advance MoM for Feb. is estimated to fall -.5% versus a +5.3% gain in Jan.
  • Retail Sales Ex Autos MoM for Feb. is estimated to rise +.2% versus a +5.9% gain in Jan.
  • Retail Sales Ex Autos and Gas for Feb. is estimated to fall -.5% versus a +6.1% gain in Jan.
9:15 am EST
  • Industrial Production MoM for Feb. is estimated to rise +.3% versus a +.9% gain in Jan.
  • Capacity Utilization for Feb. is estimated to fall to 75.5% versus 75.6% in Jan.
  • Manufacturing Production for Feb. is estimated to rise +.2% versus a +1.0% gain in Jan.
10:00 am EST
  • Business Inventories for Jan. is estimated to rise +.3% versus a +.6% gain in Dec.
  • The NAHB Housing Market Index for March is estimated at 84 versus 84 in Feb.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German ZEW Index, $24B 20Y Treasury auction, weekly US retail sales reports, BofA Industrials Conference, UBS Energy Conference, Oppenheimer Healthcare Conference,  could also impact trading today.
Market Hours
Normal:
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly 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 100% net long heading into the day.

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