Monday, October 11, 2021

Tuesday Watch

Evening Headlines

Wall Street Journal: 
Fox News:
Zero Hedge:
Night Trading 
  • Asian equity indices are -1.5% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 97.75 +9.0 basis points.
  • China Sovereign CDS 60.5 +8.5 basis points.
  • Bloomberg Emerging Markets Currency Index 58.50 +.07%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,236.0 -140.0 points.
  • Volatility Index(VIX) futures 22.0 +.66%.
  • FTSE 100 futures -.51%.
  • S&P 500 futures -.34%
  • NASDAQ 100 futures -.37%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (AZZ)/.65
  • (FAST)/.42
After the Close:
  • (PNFP)/1.55
  • (SGH)/1.60
Economic Releases
6:00 am EST
  • The NFIB Small Business Optimism for Sept. is estimated to fall to 99.5 versus 100.1 in Aug.
10:00 am EST
  • The JOLTS Job Openings report for Aug. is estimated to rise to 10950K versus 10934K in July.
Upcoming Splits
  • (MCHP) 2-for-1
Other Potential Market Movers
  • The Fed's Clarida speaking, G7/G20 Finance Ministers meetings, 3/10Y T-Note auctions, China Exports/Imports data, German ZEW Index, weekly US retail sales reports and the (HUBS) analyst day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are lower, weighed down by technology and consumer cyclical shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.

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