Monday, April 12, 2021

Tuesday Watch

Evening Headlines
Wall Street Journal:
Fox News:   
Zero Hedge:
Night Trading 
  • Asian equity indices are +.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 72.5 +1.5 basis points.
  • China Sovereign CDS 38.0 unch.
  • Bloomberg Emerging Markets Currency Index 60.42 -.01%.
  • Bloomberg Global Risk-On/Risk Off Index 3,166.0 +38.0 points.
  • Volatility Index(VIX) futures 20.60 +.17%.
  • FTSE 100 futures +.01%.
  • S&P 500 futures +.04%.
  • NASDAQ 100 futures +.03%.
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (FAST)/.37
After the Close:
  • None of note
Economic Releases
6:00 am EST
  • The NFIB Small Business Optimism Index for March is estimated to rise to 98.3 from 95.8 in Feb.
8:30 am EST 
  • The CPI MoM for March is estimated to rise +.5% versus a +.4% gain in Feb.
  • The CPI Ex Food & Energy MoM for March is estimated to rise +.2% versus a +.1% gain in Feb.
  • Real Avg. Weekly Earnings YoY.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The UK Trade Balance report, weekly US retail sales reports and the 30Y T-Bond auction 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 technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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