Monday, December 13, 2021

Tuesday Watch

Night Trading 

  • Asian equity indices are -1.0% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 84.5 -.25 basis point. 
  • China Sovereign CDS 44.0 +.5 basis point.
  • Bloomberg Emerging Markets Currency Index 53.42 -.05%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,568.0 +22.0 points.
  • Volatility Index(VIX) futures 23.0 -.8%.
  • Euro Stoxx 50 futures +.25%.
  • S&P 500 futures +.2%.
  • NASDAQ 100 futures +.15%. 
Morning Preview Links

Earnings of Note 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases 
6:00 am EST
  • The NFIB Small Business Optimism Index for Nov. is estimated to rise to 98.4 versus 98.2 in Oct.
8:30 am EST
  • The PPI Final Demand MoM for Nov. is estimated to rise +.5% versus a +.6% gain in Oct.
  • PPI Ex Food and Energy MoM for Nov. is estimated to rise +.4% versus a +.4% gain in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Housing Index, Eurozone Industrial Production report, US weekly retail sales reports, (FAST) investor day and the (CPB) 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 mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

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