Thursday, August 12, 2021

Friday Watch

Night Trading 

  • Asian equity indices are -.5% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 85.25 -1.75 basis points.
  • China Sovereign CDS 38.0 unch.
  • Bloomberg Emerging Markets Currency Index 59.63 -.02%.
  • Bloomberg Global Risk-On/Risk Off Index 2,792.0 -144.0 points.
  • Volatility Index(VIX) futures 19.5 +.27%.
  • FTSE 100 futures +.16%.
  • S&P 500 futures -.05%.
  • NASDAQ 100 futures -.02%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Import Price Index MoM for July is estimated to rise +.6% versus a +1.0% gain in June.
  • The Import Price Index ex Petrol for July is estimated to rise +.5% versus a +.7% gain in June.
  • The Export Price Index MoM for July is estimated to rise +.8% versus a +1.2% gain in June.
10:00 am EST
  • The Univ. of Mich. Consumer Sentiment Index for August is estimated at 81.2 versus 81.2 in July.
  • The Univ. of Mich. 1-Yr Inflation Expectations Index for August is estimated to fall to +4.6% versus +4.7% in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Inflation Data report and the Bloomberg US Economic Survey for Aug. could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by energy 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 100% net long heading into the day.

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