Wednesday, December 08, 2021

Thursday Watch

Evening Headlines

Wall Street Journal:
Fox News:
NY Post:
Zero Hedge:  
The Epoch Times:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 87.5 -.5 basis point. 
  • China Sovereign CDS 48.0 unch.
  • Bloomberg Emerging Markets Currency Index 53.80 unch. 
  • Bloomberg Global Risk-On/Risk Off Index 2,786.0 +43.0 points.
  • Volatility Index(VIX) futures 22.9 -.7%.
  • Euro Stoxx 50 futures +.14%.
  • S&P 500 futures -.07%
  • NASDAQ 100 futures -.07%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (CIEN)/.85
  • (HRL)/.50
After the Close:
  • (AVGO)/7.77
  • (CHWY)/-.04
  • (CMTL)/-.22
  • (COST)/2.64
  • (LESL)/.25
  • (LULU)/1.40
  • (MESA)/.12
  • (EDU)/.00
  • (ORCL)/1.11
  • (MTN)/-3.59
Economic Releases 
8:30 am EST
  • Initial Jobless Claims for last week are estimated to fall to 220K versus 222K the prior week.
  • Continuing Claims are estimated to fall to 1910K versus 1956K the prior week.
10:00 am EST
  • Wholesale Trade Sales MoM for Oct. is estimated to rise +1.0% versus a +1.1% gain in Sept.
12:00 pm EST
  • Household Change in Net Worth for 3Q.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Inflation Data report, 30Y T-Note auction, weekly EIA natural gas inventory report, Deutsche Bank Lithium/Battery Supply Chain Conference, Deutsche Bank AutoTech Conference(IRBT) investor day, (NTGR) analyst day and the (CVS) investor day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 1:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and biotech 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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