Monday, March 29, 2021

Tuesday Watch

Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 63.5 -.5 basis point.
  • China Sovereign CDS 34.25 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 59.89 -.09%.
  • Bloomberg Global Risk-On/Risk Off Index 2,826.0 +15.0 points.
  • Volatility Index(VIX) futures 22.0 -.01%.
  • FTSE 100 futures +.32%.
  • S&P 500 futures +.06%.
  • NASDAQ 100 futures +.10%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (ANGO)/-.02
  • (FDS)/2.74
  • (MKC).59
After the Close:
  • (BB)/.03
  • (CHWY)/-.10
  • (LULU)/2.49
  • (PVH)/-.23
Economic Releases
8:30 am EST
  • The FHFA House Price Index MoM for Jan. is estimated to rise +1.2% versus a +1.1% gain in Dec.
  • The S&P CoreLogic CS 20-City MoM for Jan. is estimated to rise +1.2% versus a +1.25% gain in Dec.
10:00 am EST
  • The Conference Board Consumer Confidence Index for March is estimated to rise to 96.7 versus 91.3 in Feb.
Upcoming Splits
  • (SHW) 3-for-1
Other Potential Market Movers
  • The Fed's Quarles speaking, China Manufacturing PMI report, German Inflation Data report, Eurozone Economic Sentiment, weekly US retail sales reports, BofA Automotive Summit and the Scotiabank Telecom/Media/Tech Conference could also impact trading today.
Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly higher, boosted by industrial and technology 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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