Wednesday, October 20, 2021

Thursday Watch

Night Trading 

  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 82.5 -1.25 basis points.
  • China Sovereign CDS 46.75 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 58.83 -.01%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,623.0 +1.0 point.
  • Volatility Index(VIX) futures 19.4 +.4%.
  • FTSE 100 futures n/a.
  • S&P 500 futures -.12%
  • NASDAQ 100 futures -.22%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ALK)/1.32
  • (AAL)/-1.03
  • (T)/.80
  • (AN)/4.20
  • (BX)/.91
  • (CROX)/1.86
  • (DHR)/2.15
  • (DOW)/2.55
  • (FCX)/.81
  • (GPC)/1.63
  • (KEY)/.57
  • (MMC)/1.00
  • (NUE)/7.42
  • (NVR)/88.77
  • (POOL)/3.87
  • (DGX)/3.06
  • (SNA)/3.37
  • (LUV)/-.27
  • (TSCO)/1.66
  • (TPH)/.89
  • (UNP)/2.50
  • (VLO)/.94
After the Close:
  • (OZK)/.96
  • (BJRI)/.12
  • (SAM)/4.20
  • (CSL)/2.75
  • (CMG)/6.32
  • (INTC)/1.11
  • (MAT)/.72
  • (OLN)/1.96
  • (PSMT)/.73
  • (RHI)/1.40
  • (SNAP)/.08
  • (WHR)/6.18
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 297K versus 293K the prior week.
  • Continuing Claims are estimated to fall to 2548K versus 2593K prior.
  • Philly Fed Business Outlook Index for Oct. is estimated to fall to 25.0 versus 30.7 in Sept.
10:00 am EST
  • The Leading Index for Sept. is estimated to rise +.4% versus a +.9% gain in Aug.
  • Existing Home Sales for Sept. is estimated to rise to 6.09M versus 5.88M in Aug.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Waller speaking, Eurozone PMI report, weekly EIA natural gas inventory report and the (SCHW) business update could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by commodity and healthcare shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.

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