Wednesday, September 01, 2021

Thursday Watch

Evening Headlines

Bloomberg:             
Wall Street Journal:  
Fox News:
CNBC.com: 
Zero Hedge:
Newsmax: 
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 65.25 -.5 basis point.
  • China Sovereign CDS 32.0 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 60.57 +.03%.
  • Bloomberg Global Risk-On/Risk Off Index 2,984.0 +7.0 points.
  • Volatility Index(VIX) futures 20.5 +.02%.
  • FTSE 100 futures +.20%.
  • S&P 500 futures +.10%
  • NASDAQ 100 futures +.10%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AEO)/.55
  • (CIEN)/.79
  • (DCI)/.66
  • (GCO)/.03
  • (GIII)/.10
  • (HRL)/.39
  • (PDCO)/.37
  • (SIG)/1.69
  • (TTC)/.79
After the Close:
  • (AVGO)/6.91
  • (COO)/3.29
  • (DOCU)/.40
  • (HPE)/.42
  • (MDB)/-.40
  • (OXM)/2.34
  • (NX)/.44
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY for Aug.
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 345K versus 353K the prior week.
  • Continuing Claims are estimated to fall to 2808K versus 2862K prior. 
  • The Trade Deficit for July is estimated at -$70.9B versus -$75.7B in June.
10:00 am EST
  • Factory Orders for July is estimated to rise +.3% versus a +1.5% gain in June.
  • Factory Orders Ex Transports for July is estimated to rise +.5% versus a +1.4% gain in June.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Services PMI report, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report and the (BF/A) investor day 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 rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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