Tuesday, March 09, 2021

Wednesday Watch

Evening Headlines
Wall Street Journal:
Fox News:
Zero Hedge:
The Epoch Times:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 63.5 -1.0 basis point.
  • China Sovereign CDS 34.25 -1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 60.72 -.06%.
  • Bloomberg Global Risk-On/Risk Off Index 2,692.0 +72.0 points.
  • Volatility Index(VIX) futures 26.81 +.34%.
  • FTSE 100 futures -.38%.
  • S&P 500 futures -.09%.
  • NASDAQ 100 futures -.07%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (CPB)/.84
  • (SINA)/.86
  • (TUP)/.77
  • (UNFI)/.81
  • (VRA)/.39
After the Close:
  • (AMC)/-3.13
  • (CLDR)/.11
  • (ORCL)/1.11
Economic Releases
8:30 am EST
  • The CPI MoM for Feb. is estimated to rise +.4% versus a +.3% gain in Jan.
  • The CPI Ex Food and Energy MoM for Feb. is estimated to rise +.2% versus unch. in Jan.
  • Real Avg. Weekly Earnings YoY.
2:00 pm EST
  • The Monthly Budget Statement for Feb. is estimated to widen to -$305.0B versus -$235.3B in Jan.
Upcoming Splits
  • (VRNS) 3-for-1
Other Potential Market Movers
  • The German ZEW Index, 10Y T-Note auction, weekly MBA Mortgage Applications report, BofA Refining Conference, (AVY) investor day, (LHX) investor briefing, (VZ) investor day and the (GE) investor outlook could also impact trading today.
Market Hours
  • 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 75% net long heading into the day.

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