Monday, June 13, 2022

Tuesday Watch

Evening Headlines

Bloomberg:       
Wall Street Journal:
Fox News:
CNBC.com:
MarketWatch:                      
Zero Hedge
Newsmax:  
TheGatewayPundit.com: 
 The Epoch Times:
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -3.0% to -2.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 134.0 +16.75 basis points. 
  • China Sovereign CDS 86.75 +10.5 basis points.
  • Bloomberg Emerging Markets Currency Index 50.61 -.04%.  
  • Bloomberg Global Risk-On/Risk Off Index 4,610.0 +27.0 points.
  • Volatility Index(VIX) futures 32.7 -.74%.
  • Euro Stoxx 50 futures n/a.
  • S&P 500 futures +.39%.
  • NASDAQ 100 futures +.56%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • None of note
After the Close:
  • None of note
Economic Releases
6:00 am EST
  • The NFIB Small Business Optimism Index for May is estimated to fall to 93.0 versus 93.2 in April.
8:30 am EST
  • PPI Final Demand MoM for May is estimated to rise +.8% versus a +.5% gain in April.
  • PPI Ex Food and Energy MoM for May is estimated to rise +.6% versus a +.4% gain in April. 
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Industrial Production report, German ZEW Index, weekly US retail sales reports, Deutsche Bank Auto Industry Conference, CSFB Communications Conference, Oppenheimer Consumer Growth/E-Commerce Conference, Deutsche Bank Consumer Conference, (ANF) investor day, (SNOW) investor day and the RBC Fin Tech Conference could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are sharply lower, weighed down by commodity and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

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