Thursday, February 10, 2022

Friday Watch

Night Trading 

  • Asian equity indices are -1.75% to -.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 95.0 +1.0 basis point. 
  • China Sovereign CDS 54.0 +3.25 basis points.
  • Bloomberg Emerging Markets Currency Index 54.70 -.09%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,795.0 -5.0 points.
  • Volatility Index(VIX) futures 24.9 +1.3%.
  • Euro Stoxx 50 futures -1.3%.
  • S&P 500 futures -.48%.
  • NASDAQ 100 futures -.42%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (AB)/1.00
  • (AXL)/.03
  • (CERN)/.88
  • (CLF)/2.03
  • (D)/.91
  • (GT)/.43
  • (MGA)/.87
  • (NWL)/.32
  • (UAA)/.07
After the Close:
  • None of note
Economic Releases
10:00 am EST
  • The Univ. of Mich. Consumer Sentiment Index for Feb. is estimated to fall to 67.0 versus 67.2 in Jan. 
  • Univ. of Mich. 1Y Inflation Expectations for Feb. estimated at +5.0% versus +4.9% in Jan. 
  • PPI revisions. 
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Swiss CPI report, Bloomberg Feb. US Economic Survey and the (GDDY) investor day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are lower, weighed down by consumer and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

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