Tuesday, July 20, 2021

Wednesday Watch

Evening Headlines
Bloomberg:                  
Wall Street Journal:
Fox News: 
CNBC.com:
MarketWatch.com:        
Zero Hedge:
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are unch. to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 86.0 +.5 basis point.
  • China Sovereign CDS 38.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 59.70 +.02%.
  • Bloomberg Global Risk-On/Risk Off Index 2,607.0 +36.0 points.
  • Volatility Index(VIX) futures 21.40 -.4%.
  • FTSE 100 futures +.57%.
  • S&P 500 futures +.20%.
  • NASDAQ 100 futures +.08%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ANTM)/6.34
  • (ASML)/2.49
  • (BKR)/.16
  • (KO)/.56
  • (CMA)/1.60
  • (HOG)/1.18
  • (IPG)/.43
  • (JNJ)/2.29
  • (KNX)/.88
  • (NDAQ)/1.73
  • (NVR)/72.43
  • (SAP)/1.17
  • (STX)/1.88
  • (VZ)/1.30
After the Close:
  • (CCI)/1.63
  • (CSX)/.37
  • (DFS)/3.74
  • (KMI)/.19
  • (LSTR)/2.35
  • (LVS)/-.17
  • (SLG)/1.62
  • (THC)/1.07
  • (TXN)/1.85 
  • (VMI)/2.50
  • (WHR)/6.00
Economic Releases
10:30 am EST
  • Bloomberg consensus estimates call for a weekly crude oil inventory decline of -3,912,820 barrels versus a -7,896,000 barrel decline the prior week. Gasoline supplies are estimated to fall by -1,047,800 barrels versus a +1,038,000 barrel gain the prior week. Distillate inventories are estimated to rise by +1,161,100 barrels versus a +3,657,000 barrel gain the prior week. Finally, Refinery Utilization is estimated to rise by +.31% versus a -.4% decline prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Senate procedural vote on $1.2T infra bill, 20Y T-Bond auction and the weekly MBA Mortgage Applications report 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 consumer 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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