Monday, November 08, 2021

Tuesday Watch

Evening Headlines

Bloomberg:            
Wall Street Journal:
Fox News:   
CNBC.com:
MarketWatch    
Zero Hedge:  
Newsmax:
TheGatewayPundit.com:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 90.0 +4.5 basis points.
  • China Sovereign CDS 55.0 +5.5 basis points.
  • Bloomberg Emerging Markets Currency Index 58.21 -.01%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,157.0 +57.0 points.
  • Volatility Index(VIX) futures 20.66 +.78%.
  • Euro Stoxx 50 futures -.25%.
  • S&P 500 futures -.22%
  • NASDAQ 100 futures -.19%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (CAH)/1.35
  • (DHI)/3.39
  • (EBIX)/.50
  • (FSS)/.46
  • (HAIN)/.25
  • (IGT)/.24
  • (J)/1.56
  • (STWD)/.51
  • (SYY)/.87
  • (WKHS)/-.21
After the Close:
  • (COHR)/2.11
  • (COIN)/1.72
  • (DASH)/.11
  • (DOCS)/.21
  • (FLGT)/3.25
  • (TWNK)/.20
  • (JAZZ)/3.31
  • (DNUT)/.06
  • (PAAS)/.34
  • (RNG)/.33
  • (SGMS)/.39
  • (UPST)/.33
  • (WYNN)/-1.29
Economic Releases
8:30 am EST:
  • The NFIB Small Business Optimism Index for Oct. is estimated to rise to 99.5 versus 99.1 in Sept.
  • PPI Final Demand MoM for Oct. is estimated to rise +.6% versus a +.5% gain in Sept.
  • PPI Ex Food & Energy MoM for Oct. is estimated to rise +.5% versus a +.2% gain in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell speaking, Eurozone Trade Balance report, $39B 10Y T-Note auction, weekly US retail sales reports, Raymond James Insurance Conference, Berenberg US CEO Conference, Baird Industrial Conference, (HUN) investor day, (AVGO) investor day, (AA) investor day and the Bank of America Banking/Financials Conference could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.

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