Thursday, December 09, 2021

Friday Watch

Night Trading 

  • Asian equity indices are -.75% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 87.5 -1.5 basis points. 
  • China Sovereign CDS 45.5 -2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 53.52 -.06%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,570.0 -10.0 points.
  • Volatility Index(VIX) futures 23.7 +.4%.
  • Euro Stoxx 50 futures -.48%.
  • S&P 500 futures unch.
  • NASDAQ 100 futures +.02%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (ASO)/1.11
After the Close:
  • None of note
Economic Releases 
8:30 am EST
  • The CPI MoM for Nov. is estimated to rise +.7% versus a +.9% gain in Oct.
  • The CPI Ex Food and Energy MoM for Nov. is estimated to rise +.5% versus a +.6% gain in Oct.
  • Real Avg. Weekly Earnings YoY for Nov.
10:00 am EST
  • Univ. of Mich. Consumer Sentiment for Dec. is estimated to rise to 68.0 versus 67.4 in Nov.
2:00 pm EST
  • The Monthly Budget Deficit for Nov. is estimated at -$193.0B versus -$143.3B in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The UK Manufacturing Report, (HPE) fireside chat, (CNC) investor day and the (ADM) investor day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 1:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by energy and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.

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