Wednesday, October 13, 2021

Thursday Watch

Evening Headlines

Wall Street Journal:
Fox News:  
Zero Hedge:
NY Post:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 94.0 +.5 basis point.
  • China Sovereign CDS 55.25 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 58.71 -.07%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,207.0 -12.0 points.
  • Volatility Index(VIX) futures 20.9 -.98%.
  • FTSE 100 futures +.51%.
  • S&P 500 futures +.32%
  • NASDAQ 100 futures +.43%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (BAC)/.70
  • (C)/1.79
  • (CMC)/1.28
  • (DPZ)/3.10
  • (MS)/1.68
  • (PGR)/.22
  • (TSM)/5.78
  • (USB)/1.16
  • (UNH)/4.42
  • (WBA)/1.02
  • (WFC)/.94
After the Close:
  • (AA)/1.80
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 320K versus 326K the prior week.
  • Continuing Claims are estimated to fall to 2670K versus 2714K prior.
  • PPI Final Demand MoM for Sept. is estimated to rise +.6% versus a +.7% gain in Aug.
  • PPI Ex Food and Energy MoM for Sept. is estimated to rise +.5% versus a +.6% gain in Aug.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Australia Unemployment report, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report, (HRL) investor update, (WBA) investor conference, (SAFM) investor event and the (LOW) fireside chat 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 consumer cyclical shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.

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