Sunday, October 17, 2021

Monday Watch

Night Trading
  • Asian indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 88.75 -6.75  basis points.
  • China Sovereign CDS 49.25 -4.75 basis points.
  • Bloomberg Emerging Markets Currency Index 58.76 -.05%.
  • Bloomberg Global Risk-On/Risk Off Index 3,411.0 -39.0 points.
  • Volatility Index(VIX) futures 20.2 +.36%. 
  • Euro Stoxx 50 futures +.02%.
  • S&P 500 futures -.08%.
  • NASDAQ 100 futures -.21%.

Earnings of Note
Company/Estimate

Before the Open:
  • (ACI)/.45
  • (PHG)/.39
  • (STT)/1.92
After the Close:
  • (HXL)/.09
  • (STLD)/4.89
  • (ZION)/1.36
Economic Releases
9:15 am EST
  • Industrial Production MoM for Sept. is estimated to rise +.2% versus a +.4% gain in Aug.
  • Capacity Utilization for Sept. is estimated to rise to 76.5% versus 76.4% in Aug.
  • Manufacturing Production for Sept. is estimated to rise +.1% versus a +.2% gain in Aug.
10:00 am EST
  • The NAHB Housing Market Index for Oct. is estimated to fall to 75.0 versus 76.0 in Sept.
4:00 pm EST
  • Net Long-Term TIC Flows for Aug.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Quarles speaking, (AAPL) Mac Event and the Bank of Canada survey data could also impact trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and industrial 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 week.

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