Wednesday, October 06, 2021

Thursday Watch

Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 90.0 +.75 basis point.
  • China Sovereign CDS 51.5 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 58.69 -.01%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,978.0 +2.0 points.
  • Volatility Index(VIX) futures 22.60 -.2%.
  • FTSE 100 futures n/a.
  • S&P 500 futures +.25%
  • NASDAQ 100 futures +.30%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (CAG)/.49
  • (HELE)/2.25
After the Close:
  • None of note
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY for Sept.
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 348K versus 362K the prior week.
  • Continuing Claims are estimated to fall to 2762K versus 2802K the prior week.
3:00 pm EST
  • Consumer Credit for Aug. is estimated to rise to $17.5B versus $17.0B in July.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Industrial Production report, weekly EIA natural gas inventory report, (LDOS) investor day and the (VMW) analyst meeting 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 100% net long heading into the day.

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