Thursday, October 21, 2021

Friday Watch

Night Trading 

  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 84.5 +2.0 basis points.
  • China Sovereign CDS 48.0 +1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 58.28 -.02%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,493.0 -44.0 points.
  • Volatility Index(VIX) futures 19.1 +2.0%.
  • FTSE 100 futures +.15%.
  • S&P 500 futures -.23%
  • NASDAQ 100 futures -.54%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AXP)/1.75
  • (ALV)/.89
  • (CLF)/2.23
  • (GNTX)/.37
  • (HCA)/4.01
  • (HON)/2.00
  • (RF)/.53
  • (SLB)/.36
  • (STX)/2.21
  • (VFC)/1.16
After the Close:
  • None of note
Economic Releases
9:45 am EST
  • Markit US Manufacturing PMI for Oct. is estimated to fall to 60.5 versus 60.7 in Sept. 
  • Markit US Services PMI for Oct. is estimated to rise to 55.2 versus 54.9 in Sept.
  • The Monthly Budget Deficit for Sept. is estimated at -$59.0B versus -$124.6B in Aug.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell speaking and the UK Retail Sales report 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 commodity 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 75% net long heading into the day.

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