Thursday, August 04, 2022

Friday Watch

Night Trading 

  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 151.0 +1.5 basis points. 
  • China Sovereign CDS 78.0 -2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 49.22 +.01%.  
  • Bloomberg Global Risk-On/Risk Off Index 3,383.0 +4.0 points.
  • Volatility Index(VIX) futures 25.3 +.3%
  • Euro Stoxx 50 futures n/a.
  • S&P 500 futures +.08%.
  • NASDAQ 100 futures +.09%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ACMR)/.03
  • (AXL)/.10
  • (DKNG)/-.85
  • (FLR)/.30
  • (GT)/.35
  • (SRCL)/.44
  • (LESL)/.74
  • (WDC)/1.74
After the Close:
  • None of note
Economic Releases
8:30 am EST:
  • The Change in Non-Farm Payrolls for July is estimated at 250K versus 372K in June.
  • The Unemployment Rate for July is estimated at 3.6% versus 3.6% in June.
  • Average Hourly Earnings MoM for July is estimated to rise +.3% versus a +.3% gain in June.
  • Labor Force Participation rate for July is estimated at 62.2% versus 62.2% in June.  
3:00 pm EST
  • Consumer Credit for June is estimated to rise to $26.0B versus $22.347B in May.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Economic Indicators could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial 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 50% net long heading into the day.

1 comment:

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