Monday, April 25, 2022

Tuesday Watch

Evening Headlines

Bloomberg:           
Wall Street Journal:
Fox News:   
Zero Hedge:
Newsmax:   
TheGatewayPundit.com: 
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 118.75 +2.75 basis points. 
  • China Sovereign CDS  79.0 +5.25 basis points.
  • Bloomberg Emerging Markets Currency Index 52.69 -.06%. 
  • Bloomberg Global Risk-On/Risk Off Index 4,093.0 -21.0 points.
  • Volatility Index(VIX) futures 27.2 -.4%.
  • Euro Stoxx 50 futures +1.11%.
  • S&P 500 futures -.03%.
  • NASDAQ 100 futures -.08%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (MMM)/2.31
  • (ARCH)/11.68
  • (ADM)/1.41
  • (AVY)/2.17
  • (GLW)/.50
  • (DHI)/3.50
  • (GE)/.19
  • (JBLU)/-.87
  • (NVR)/96.94
  • (PCAR)/1.54
  • (PII)/1.77
  • (RTX)/1.02
  • (SHW)/1.54
  • (UPS)/2.88
  • (VLO)/1.64
After the Close:
  • (GOOG)/25.68
  • (BYD)/1.20
  • (CNI)/1.39
  • (COF)/5.44
  • (CMG)/5.64
  • (CB)/3.48
  • (EW)/.57
  • (FFIV)/2.01
  • (GM)/1.67
  • (JNPR)/.32
  • (MANH)/.45
  • (MSFT)/2.20
  • (MDLZ)/.75
  • (NCR)/.63
  • (RHI)/1.46
  • (TER)/.89
  • (TXN)/2.19
  • (V)/1.65
  • (WH)/.64
Economic Releases
8:30 am EST
  • Durable Goods Orders for March is estimated to rise +1.0% versus a -2.1% decline in Feb.
  • Durables Ex Transports for March is estimated to rise +.6% versus a -.6% decline in Feb.
  • Cap Goods Orders Non-Defense Ex-Air for March is estimated to rise +.5% versus a -.2% decline in Feb.
9:00 am EST
  • The FHFA House Price Index MoM for Feb. is estimated to rise +1.5% versus a +1.6% gain in Jan.
  • The S&P CoreLogic CS 20-City MoM for Feb. is estimated to rise +1.5% versus a +1.79% gain in Jan.
10:00 am EST
  • The Conference Board Consumer Confidence Index for April is estimated to rise to 108.0 versus a reading of 107.2 in March.
  • The Richmond Fed Manufacturing Index for April is estimated to fall to 9 versus 13 in March.
  • New Home Sales for March is estimated to fall to 768K versus 772K in Feb.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The 2Y T-Note auction, US weekly retail sales reports and the (ELY) investor day could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

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