Wednesday, June 09, 2021

Thursday Watch

Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 84.0 +.75 basis point.
  • China Sovereign CDS 36.5 unch.
  • Bloomberg Emerging Markets Currency Index 61.75 +.01%.
  • Bloomberg Global Risk-On/Risk Off Index 3,282.0 +4.0 points.
  • Volatility Index(VIX) futures 20.37 -.62%.
  • FTSE 100 futures +.13%.
  • S&P 500 futures +.12%.
  • NASDAQ 100 futures +.12%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (JW/A)/.61
  • (FIZZ)/.41
  • (SIG)/1.27
After the Close:
  • (CHWY)/-.02
  • (PLAY)/-.18
Economic Releases
8:30 am EST
  • The CPI MoM for May is estimated to rise +.4% versus a +.8% gain in April.
  • The CPI Ex Food and Energy MoM for May is estimated to rise +.5% versus a +.9% gain in April.
  • Real Avg. Weekly Earnings YoY for May. 
  • Initial Jobless Claims for last week is estimated to fall to 370K versus 385K the prior week.
  • Continuing Claims are estimated to fall to 3650K versus 3771K prior.
12:00 pm EST
  • 1Q Household Change in Net Worth.
2:00 pm EST
  • The Monthly Budget Deficit for May is estimated at -$250.0B versus -$225.6B in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The ECB meeting, China New Loan data report, $24B 30Y T-Bond auction, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report and the (FEYE) June briefing 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 weaken into the afternoon, finishing modestly lower. The Portfolio is 75% net long heading into the day.

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