Tuesday, October 12, 2021

Wednesday Watch

Evening Headlines

Wall Street Journal: 
Fox News:
Zero Hedge:
Night Trading 
  • Asian equity indices are -.5% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 93.5 -4.25 basis points.
  • China Sovereign CDS 55.5 -5.0 basis points.
  • Bloomberg Emerging Markets Currency Index 58.57 +.02%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,241.0 -29.0 points.
  • Volatility Index(VIX) futures 21.6 +.84%.
  • FTSE 100 futures -.15%.
  • S&P 500 futures -.16%
  • NASDAQ 100 futures -.19%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (BLK)/9.55
  • (DAL)/.17
  • (JPM)/3.00
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The CPI MoM for Sept. is estimated to rise +.3% versus a +.3% gain in Aug.
  • The CPI Ex Food and Energy MoM for Sept. is estimated to rise +.2% versus a +.1% gain in Aug.
  • Real Avg. Weekly Earnings YoY for Sept.
2:00 pm EST
  • The Sept. 22 FOMC Meeting Minutes.
Upcoming Splits
  • (MCHP) 2-for-1
Other Potential Market Movers
  • The Fed's Bowman speaking, Fed's Brainard speaking, China's Trade Data report, weekly MBA Mortgage Applications report,  30Y T-Bond auction and the Eurozone Industrial Production report 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 consumer cyclical shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

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