Thursday, October 07, 2021

Friday Watch

Night Trading 

  • Asian equity indices are +.25% to +1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 87.0 -3.0 basis points.
  • China Sovereign CDS 48.75 -2.75 basis points.
  • Bloomberg Emerging Markets Currency Index 58.74 -.03%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,920.0 -202.0 points.
  • Volatility Index(VIX) futures 22.2 +.5%.
  • FTSE 100 futures -.21%.
  • S&P 500 futures +.06%
  • NASDAQ 100 futures +.13%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Change in Non-Farm Payrolls for Sept. is estimated at 500K versus 235K in Aug.
  • The Unemployment Rate for Sept. is estimated to fall to 5.1% versus 5.2% in Aug.
  • Average Hourly Earnings MoM for Sept. is estimated to rise +.4% versus a +.6% gain in Aug.
10:00 am EST
  • Wholesale Trade Sales MoM for Aug. is estimated to rise +.9% versus a +2.0% gain in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The European Trade Data 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 commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

No comments: