Monday, October 04, 2021

Tuesday Watch

Evening Headlines

Wall Street Journal: 
Fox News: 
Zero Hedge:
NY Times:
Night Trading 
  • Asian equity indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 84.25 unch.
  • China Sovereign CDS 47.5 +1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 58.85 -.01%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,642.0 -23.0 points.
  • Volatility Index(VIX) futures 23.63 -.09%.
  • FTSE 100 futures +.47%.
  • S&P 500 futures +.01%
  • NASDAQ 100 futures +.12%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The Trade Deficit for Aug. is estimated to widen to -$70.7B versus -$70.1B in July.
10:00 am EST
  • The ISM Services Index for Sept. is estimated to fall to 59.9 versus 61.7 in Aug.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Quarles speaking, RBA rate decision and the weekly US retail sales reports could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and healthcare shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.

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