Thursday, October 14, 2021

Friday Watch

Night Trading 

  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 92.25 -1.75 basis points.
  • China Sovereign CDS 54.0 -1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 58.71 -.02%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,174.0 -74.0 points.
  • Volatility Index(VIX) futures 20.1 +.5%.
  • FTSE 100 futures +.08%.
  • S&P 500 futures +.10%
  • NASDAQ 100 futures +.12%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (BMI)/.50
  • (SCHW)/.81
  • (GS)/9.94
  • (JBHT)/1.78
  • (PNC)/3.64
  • (PLD)/1.03
  • (SXT)/.81
  • (TFC)/1.20
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • Empire Manufacturing for Oct. is estimated to fall to 25.0 versus 34.3 in Sept.
  • Retail Sales Advance MoM for Sept. is estimated to fall -.2% versus a +.7% gain in Aug.
  • Retail Sales Ex Autos MoM for Sept. is estimated to rise +.5% versus a +1.8% gain in Aug.
  • Retail Sales Ex Autos and Gas for Sept. is estimated to rise +.4% versus a +2.0% gain in Aug.
  • The Import Price Index MoM for Sept. is estimated to rise +.6% versus a -.3% decline in Aug.
  • The Import Price Index  ex Petrol for Sept. is estimated to rise +.2% versus a -.1% decline in Aug.
  • The Export Price Index MoM for Sept. is estimated to rise +.7% versus a +.4% gain in Aug.
10:00 am EST
  • Business Inventories for Aug. is estimated to rise +.6% versus a +.5% gain in July.
  • Univ. of Mich. Consumer Sentiment for Oct. is estimated to rise to 73.0 versus 72.8 in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China retail sales report and the (RIO) 3Q operations review 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 75% net long heading into the day.

No comments: