Monday, August 16, 2021

Tuesday Watch

Evening Headlines
Bloomberg:         
Wall Street Journal:
Fox News:
Zero Hedge:
Newsmax:
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are -.5% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 83.25 -1.75 basis points.
  • China Sovereign CDS 37.0 -.5 basis point.
  • Bloomberg Emerging Markets Currency Index 59.72 -.03%.
  • Bloomberg Global Risk-On/Risk Off Index 2,797.0 -16.0 points.
  • Volatility Index(VIX) futures 19.75 +.64%.
  • FTSE 100 futures +.11%.
  • S&P 500 futures -.16%.
  • NASDAQ 100 futures -.13%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (HD)/4.41
  • (SE)/-.49
  • (WMT)/1.57
After the Close:
  • (A)/.99
  • (CREE)/-.24
  • (JKHY)/.92
  • (LZB)/.57
Economic Releases
8:30 am EST
  • Retail Sales Advance MoM for July is estimated to fall -.2% versus a +.6% gain in June.
  • Retail Sales Ex Autos MoM for July is estimated to rise +.2% versus a +1.3% gain in June.
  • Retail Sales Ex Autos and Gas for July is estimated unch. versus a +1.1% gain in June.
9:15 am EST
  • Industrial Production MoM for July is estimated to rise +.5% versus a +.4% gain in June.
  • Capacity Utilization for July is estimated to rise to 75.7% versus 75.4% in June.
  • Manufacturing Production for July is estimated to rise +.7% versus a -.1% decline in June.
10:00 am EST
  • Business Inventories  for June is estimated to rise +.8% versus a +.5% gain in May.
  • The NAHB Housing Market Index for Aug. is estimated at 80.0 versus 80.0 in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The UK Employment Change, Eurozone GDP report, weekly US retail sales reports and the Deutsche Bank Transport Conference 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 consumer and healthcare 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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