Wednesday, October 27, 2021

Thursday Watch

Evening Headlines

Bloomberg:          
Wall Street Journal:
Fox News:   
CNBC.com:
MarketWatch.com:              
Zero Hedge:  
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are -.5% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 79.25 -2.5 basis points.
  • China Sovereign CDS 44.75 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 58.39 -.01%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,274.0 -66.0 points.
  • Volatility Index(VIX) futures 19.10 -1.3%.
  • FTSE 100 futures +.17%.
  • S&P 500 futures +.19%
  • NASDAQ 100 futures +.23%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AGCO)/1.85
  • (AB)/.86
  • (MO)/1.26
  • (AMT)/2.36
  • (BUD)/.57
  • (BAX)/.94
  • (CAT)/2.21
  • (CMCSA)/.75
  • (DBD)/.52
  • (FSS)/.46
  • (FCN)/1.48
  • (GPI)/9.04
  • (HSY)/2.00
  • (ITW)/2.02
  • (ICE)/1.23
  • (KDP)/.44
  • (LH)/4.90
  • (MA)/2.19
  • (MRK)/1.5
  • (TAP)/1.51
  • (NEM)/.73
  • (NOC)/5.98
  • (OSK)/.93
  • (PTEN)/-.44
  • (BTU)/-.07
  • (RS)/5.93
  • (SHOP)/1.20
  • (SWK)/2.47
  • (TROW)/3.31
  • (YUM)/1.08
After the Close:
  • (AMZN)/8.96
  • (AAPL)/1.24
  • (COLM)/1.29
  • (DECK)/3.90
  • (GILD)/1.77
  • (MSTR)/1.24
  • (MHK)/3.80
  • (SKYW)/1.23
  • (SBUX)/1.00
  • (SYK)/2.28
  • (X)/4.93
  • (WERN)/.95
  • (WDC)/2.44
  • (ZEN)/.17
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 289K versus 290K the prior week.
  • Continuing Claims are estimated to fall to 2420K versus 2481K prior.
  • 3Q GDP Annualized QoQ is estimated to rise +2.6% versus a +6.7% gain in 2Q.
  • 3Q Personal Consumption is estimated to rise +.8% versus a +12.0% gain in 2Q.
  • 3Q GDP Price Index is estimated to rise +5.3% versus a +6.1% gain in 2Q.
  • 3Q Core PCE QoQ is estimated to rise +4.4% versus a +6.1% gain in 2Q.
10:00 am EST
  • Pending Home Sales MoM for Sept. is estimated to rise +.5% versus a +8.1% gain in Aug.
11:00 am EST
  • Kansas City Fed Manufacturing Activity for Oct. is estimated to fall to 20.0 versus 22.0 in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Consumer Confidence report, ECB meeting, $62B 7Y T-Note auction, weekly EIA natural gas inventory report and the (HPE) analyst meeting could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 75% net long heading into the day.

No comments: