Wednesday, November 03, 2021

Thursday Watch

Evening Headlines

Bloomberg:        
Wall Street Journal:
Fox News:   
CNBC.com:
Zero Hedge:  
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are +.25% to +1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 81.25 -1.5 basis points.
  • China Sovereign CDS 46.5 +.25 basis point.
  • Bloomberg Emerging Markets Currency Index 58.08 +.03%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,505.0 +56.0 points.
  • Volatility Index(VIX) futures 19.7 -.4%.
  • Euro Stoxx 50 futures +.6%.
  • S&P 500 futures +.1%
  • NASDAQ 100 futures +.31%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AES)/.44
  • (APD)/2.49
  • (ABC)/2.36
  • (APTV)/.32
  • (BDX)/2.45
  • (BLUE)/-2.65
  • (CARS)/.44
  • (DISH)/.90
  • (DUK)/1.80
  • (IRM)/.63
  • (K)/.93
  • (MRNA)/9.42
  • (MUR)/.18
  • (PZZA)/.71
  • (PH)/3.70
  • (PENN)/.91
  • (PWR)/1.46
  • (REGN)/9.94
  • (VIAC)/.76
  • (VMC)/1.65
  • (W)/.02
  • (ZBH)/1.76
  • (ZTS)/1.11
After the Close:
  • (ABNB)/.85
  • (AIG)/.91
  • (BGS)/.57
  • (BILL)/-.21
  • (CVNA)/-.28
  • (NET)/-.04
  • (CGNX)/.45
  • (ED)/1.48
  • (DDOG)/.06
  • (DBX)/.35
  • (LOCO)/.22
  • (EOG)/2.05
  • (FSLR)/.60
  • (FTNT)/.94
  • (ILMN)/1.22
  • (IAC)/-.34
  • (MTZ)/1.70
  • (MELI)/1.26
  • (MCHP)/1.06
  • (MNST)/.67
  • (NWSA)/.15
  • (OXY)/.57
  • (PTON)/-1.14
  • (QDEL)/3.07
  • (RDFN)/-.19
  • (SHAK)/-.06
  • (SWKS)/2.54
  • (SFM)/.40
  • (SQ)/.37
  • (STMP)/1.65
  • (UBER)/-.16
  • (OLED)/1.08
  • (YELP)/.48
Economic Releases
7:30 am EST:
  • Challenger Job Cuts YoY for Oct.
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 275K versus 281K the prior week.
  • Continuing Claims are estimated to fall to 2150K versus 2243K prior. 
  • 3Q Non-Farm Productivity is estimated to fall -3.1% versus a +2.1% gain in 2Q.
  • 3Q Unit Labor Costs are estimated to rise +7.0% versus a +1.3% gain in 2Q.
  • The Trade Balance for Sept. is estimated at -$80.2B versus -$73.3B in Aug.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Bank of England rate decision, OPEC meeting, Eurozone Factory Orders report, weekly Langer Consumer Comfort Index, weekly EIA natural gas inventory report and the (CS) investor day 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 technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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