Thursday, June 16, 2022

Friday Watch

Evening Headlines

Bloomberg:                 
Wall Street Journal:
Fox News:
Zero Hedge
Newsmax:  
TheGatewayPundit.com: 
The Epoch Times: 
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -2.25% to -1.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 140.75 +13.25 basis points. 
  • China Sovereign CDS 90.25 +11.5 basis points.
  • Bloomberg Emerging Markets Currency Index 50.74 -.13%.  
  • Bloomberg Global Risk-On/Risk Off Index 4,430.0 +228.0 points.
  • Volatility Index(VIX) futures 32.10 +.6%.
  • Euro Stoxx 50 futures -.32%.
  • S&P 500 futures +.12%.
  • NASDAQ 100 futures +.29%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
9:15 am EST
  • Industrial Production MoM for May is estimated to rise +.4% versus a +1.1% gain in April.
  • Capacity Utilization for May is estimated to rise to 79.2% versus 79.0% in April.
  • Manufacturing Production for May is estimated to rise +.3% versus a +.8% gain in April.
10:00 am EST
  • The Leading Index for May is estimated to fall -.4% versus a -.3% decline in April.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Powell speaking, EU Economic Finance Ministers Meeting and the (CNC) 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 commodity 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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