Tuesday, February 01, 2022

Wednesday Watch

Evening Headlines

Bloomberg:     
Wall Street Journal:
Fox News:
NY Post:
CNBC.com:
MarketWatch:     
Zero Hedge:
Newsmax:
TheGatewayPundit.com: 
The Epoch Times:
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are +1.0% to +1.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 91.0 unch. 
  • China Sovereign CDS 50.0 unch.
  • Bloomberg Emerging Markets Currency Index 54.49 -.02%. 
  • Bloomberg Global Risk-On/Risk Off Index 3,375.0 +39.0 points.
  • Volatility Index(VIX) futures 23.7 -.9%.
  • Euro Stoxx 50 futures +.75%.
  • S&P 500 futures +.45%.
  • NASDAQ 100 futures +.95%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ABBV)/3.28
  • (ABC)/2.58
  • (AVY)/2.12
  • (BSX)/.44
  • (EAT)/.51
  • (CHRW)/1.86
  • (DHI)/2.80
  • (EMR)/1.01
  • (HUM)/1.16
  • (IDXX)/1.72
  • (JCI)/.53
  • (ODFL)/2.27
  • (SAIA)/2.58
  • (TMO)/5.27
After the Close:
  • (AFL)/1.26
  • (ALGN)/2.73
  • (ALL)/2.77
  • (AVB)/2.25
  • (CTSH)/1.04
  • (KLIC)/1.90
  • (MXL)/.84
  • (MCK)/5.42
  • (FB)/3.83
  • (MET)/1.46
  • (QCOM)/3.00
  • (RRR)/.51
  • (YELL)/-.13
Economic Releases
8:15 am EST
  • The ADP Employment Change for January is estimated to fall to 184K versus 807K in Dec.
10:30 am EST
  • Bloomberg consensus estimates call for a weekly crude oil inventory  gain of +1,055,890 barrels versus a +2,377,000 barrel gain the prior week. Gasoline supplies are estimated to rise by +1,895,220 barrels versus a +1,297,000 barrel gain the prior week. Distillate inventories are estimated to fall by -1,237,000 barrels versus a -2,798,000 barrel decline the prior week. Finally, Refinery Utilization is estimated to rise by +.01% versus a -.4% decline prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone PPI report and the weekly MBA Mortgage Applications report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are higher, boosted by commodity and technology shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 100% net long heading into the day.

No comments: