Monday, December 06, 2021

Tuesday Watch

Evening Headlines

Wall Street Journal:
Fox News: 
NY Post:
Zero Hedge:  
Night Trading 
  • Asian equity indices are +.25% to +1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 92.0 -1.5 basis points. 
  • China Sovereign CDS 51.75 -.75 basis point.
  • Bloomberg Emerging Markets Currency Index 53.28 -.07%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,022.0 +80.0 points.
  • Volatility Index(VIX) futures 26.3 -1.7%.
  • Euro Stoxx 50 futures +.21%.
  • S&P 500 futures +.25%
  • NASDAQ 100 futures +.20%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (AZO)/21.08
  • (CONN)/.60
After the Close:
  • (AVAV)/.64
  • (CASY)/2.93
  • (CHPT)/.-13
  • (PLAY)/.13
  • (SFIX)/-.14
  • (TOL)/2./50
Economic Releases 
8:30 am EST
  • The Trade Balance for Oct. is estimated at -$66.8B versus -$80.9B in Sept.
3:00 pm EST
  • Consumer Credit for Oct. is estimated to fall to $25.0B versus $29.913B in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China export data, 3Y T-Note auction, weekly US retail sales reports, Barclays Tech/Media/Telecom Conference, Truist Industrials/Services Summit, Citi Consumer Conference and the Goldman Financial Services Conference could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 1:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by financial 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 75% net long heading into the day.

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