Thursday, July 29, 2021

Friday Watch

Evening Headlines

Bloomberg:      
Wall Street Journal:
Fox News:
Zero Hedge:
Newsmax:
TheGatewayPundit.com:
The Epoch Times:  
Night Trading 
  • Asian equity indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 89.0 -.75 basis point.
  • China Sovereign CDS 39.0 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 60.27 -.01%.
  • Bloomberg Global Risk-On/Risk Off Index 2,655.0 -99.0 points.
  • Volatility Index(VIX) futures 20.6 +4.3%.
  • FTSE 100 futures -.51%.
  • S&P 500 futures -.61%.
  • NASDAQ 100 futures -1.14%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ABBV)/3.03
  • (AXL)/.03
  • (AON)/1.85
  • (B)/.44
  • (BLMN)/.68
  • (BAH)/.97
  • (CRI)/.79
  • (CAT)/2.41
  • (CBOE)/1.36
  • (CERN)/.75
  • (CHTR)/4.99
  • (CVX)/1.60
  • (CL)/.80
  • (DISH)/.86
  • (XOM)/.98
  • (IDXX)/2.04
  • (ITW)/2.09
  • (JCI)/.83
  • (LHX)/3.18 
  • (LYB)/5.62
  • (NWL)/.45
  • (PG)/1.08
  • (VFC)/.11
  • (WY)1.39
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • Employment Cost Index for 2Q is estimated to rise +.9% versus a +.9% gain in 1Q.
  • Personal Income for June is estimated to fall -.3% versus a -2.0% decline in May.
  • Personal Spending for June is estimated to rise +.7% versus unch. in May.
  • The PCE Core MoM for June is estimated to rise +.6% versus a +.5% gain in May.
9:45 am EST
  • The MNI Chicago PMI for July is estimated to fall to 64.1 versus 66.1 in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Housing Data report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by healthcare 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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