Wednesday, February 23, 2022

Thursday Watch

Evening Headlines

Bloomberg:      
Wall Street Journal:
Fox News:  
CNBC.com:
Zero Hedge:
Newsmax:   
TheGatewayPundit.com: 
SKirsch.com:
Night Trading 
  • Asian equity indices are -1.75% to -1.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 104.25 +1.0 basis point. 
  • China Sovereign CDS 55.75 +1.25 basis points.
  • Bloomberg Emerging Markets Currency Index 54.28 -.02%. 
  • Bloomberg Global Risk-On/Risk Off Index 2,904.0 +26.0 points.
  • Volatility Index(VIX) futures 30.4 +2.3%.
  • Euro Stoxx 50 futures -1.46%.
  • S&P 500 futures -.7%.
  • NASDAQ 100 futures -.80%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (BABA)/16.05
  • (AEP)/.92
  • (AMT)/2.30
  • (AMWD)/.87
  • (BUD)/.80
  • (CARS)/.42
  • (DISCA)/.85
  • (DISH)/.87
  • (ELAN)/.17
  • (EXC)/.78
  • (FCN)/1.16
  • (IRM)/.64
  • (MRNA)/9.81
  • (NTES)/6.74
  • (NEM)/.77
  • (NKLA)/-.42
  • (PZZA)/.71
  • (PWR)/1.41
  • (RY)/2.73
  • (TNK)/-.80
  • (W)/-.70
After the Close:
  • (MDRX)/.32
  • (ADSK)/1.44
  • (BYND)/-.68
  • (SQ)/.22
  • (CVNA)/-.82
  • (COIN)/2.16
  • (DELL)/1.95
  • (EOG)/3.17
  • (INTU)/1.82
  • (MTZ)/1.28
  • (OXY)/1.10
  • (SFM)/.30
  • (VMW)/1.97
  • (ZS)/.11
Economic Releases
8:30 am EST
  • The Chicago Fed National Activity Index for Jan. is estimated to rise to .16 versus -.15 in Dec.
  • Initial Jobless Claims are estimated to fall to 235K versus 248K the prior week. 
  • Continuing Claims are estimated to  rise to 1580K versus 1593K prior.
10:00 am EST
  • New Home Sales for Jan. is estimated to fall to 803K versus 811K in Dec.
11:00 am EST
  • Kansas City Fed Manufacturing Activity Index for Feb. is estimated to rise to 25.0 versus 24.0 in Jan.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Waller speaking, German GDP report, 7Y T-Note auction, weekly EIA natural gas inventory report and the (PII) investor meeting 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 modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.

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