Wednesday, April 07, 2021

Thursday Watch

Evening Headlines
Wall Street Journal:
Fox News:
Zero Hedge:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 68.0 +3.5 basis points.
  • China Sovereign CDS 36.0 +2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 60.55 -.04%.
  • Bloomberg Global Risk-On/Risk Off Index 3,203.0 +41.0 points.
  • Volatility Index(VIX) futures 20.85 -1.02%.
  • FTSE 100 futures +.23%.
  • S&P 500 futures +.21%.
  • NASDAQ 100 futures +.26%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (APOG)/.56
  • (CAG)/.58
  • (STZ)/1.52
After the Close:
  • (LEVI)/.24
  • (PSMT)/1.00
  • (WDFC)/1.32
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 680K versus 719K the prior week.
  • Continuing Claims are estimated to fall to 3638K versus 3794K prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German Factory Orders report, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report, (EXC) investor meeting, (CRWD) investor briefing and the (SMG) analyst day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.

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