Thursday, October 28, 2021

Friday Watch

Evening Headlines

Bloomberg:          
Wall Street Journal:
Fox News:   
Zero Hedge:  
Newsmax:  
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 80.25 +1.0 basis point.
  • China Sovereign CDS 45.25 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 58.36 +.03%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,202.0 -94.0 points.
  • Volatility Index(VIX) futures 19.0 +1.9%.
  • FTSE 100 futures +.03%.
  • S&P 500 futures -.32%
  • NASDAQ 100 futures -.64%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ABBV)/3.22
  • (B)/.50
  • (CRI)/1.73
  • (CBOE)/1.43
  • (CERN)/.82
  • (CHTR)/5.80
  • (CVX)/2.19
  • (CL)/.80
  • (XOM)/1.52
  • (LYB)/5.73
  • (NWL)/.50
  • (PSX)/1.93
  • (RCL)/-4.00
  • (WY)/.56
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Employment Cost Index for 3Q is estimated to rise +.9% versus a +.7% gain in 2Q.
  • Personal Income for Sept. is estimated to fall -.3% versus a +.2% gain in Aug.
  • Personal Spending for Sept. is estimated to rise +.6% versus a +.8% gain in Aug.
  • The PCE Core MoM for Sept. is estimated to rise +.2% versus a +.3% gain in Aug.
9:45 am EST
  • The MNI Chicago PMI for Oct. is estimated to fall to 63.5 versus 64.7 in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Housing Data report, (ALGN) investor day and the (JW/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 industrial 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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