Wednesday, August 03, 2022

Thursday Watch

Night Trading 

  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 149.5 -2.75 basis points. 
  • China Sovereign CDS 80.5 -7.75 basis points.
  • Bloomberg Emerging Markets Currency Index 49.03 +.03%.  
  • Bloomberg Global Risk-On/Risk Off Index 3,500.0 +85.0 points.
  • Volatility Index(VIX) futures 25.3 +.4%
  • Euro Stoxx 50 futures +.19%.
  • S&P 500 futures +.02%.
  • NASDAQ 100 futures -.05%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (APD)/2.61
  • (BABA)/10.50
  • (ATI)/.37
  • (APTV)/.60
  • (BDX)/2.50
  • (CHH)/1.45
  • (CI)/5.49
  • (COP)/3.85
  • (CROX)/2.69
  • (DDOG)/.15
  • (DUK)/1.08
  • (LLY)/1.71
  • (ICE)/1.27
  • (IRM)/.72
  • (JCI)/.84
  • (K)/1.05
  • (RIDE)/-.45
  • (MUR)/1.54
  • (MYGN)/.02
  • (PZZA)/.75
  • (PH)/4.70
  • (PENN)/.50
  • (PWR)/1.53
  • (SHAK)/-.02
  • (VMC)/1.65
  • (W)/-1.88
  • (YETI)/.68
  • (ZTS)/1.22
After the Close:
  • (AES)/.31
  • (Y)/18.15
  • (AMC)/-.23
  • (AMGN)/4.33
  • (BYND)/-1.14
  • (SQ)/.16
  • (CVNA)/-1.98
  • (CHGG)/.33
  • (NET)/-.01
  • (ED)/.59
  • (DASH)/-.02
  • (DBX)/.37 
  • (EOG)/2.790
  • (EXPE)/1.59
  • (LYFT)/-.05
  • (MTW)/.30
  • (MTZ)/.72
  • (MNST)/.70
  • (PSA)/3.92
  • (RMAX)/.64
  • (SWKS)/2.35
  • (SYNA)/3.67
  • (TRIP)/.26
  • (OLED)/1.05
  • (XPO)/1.51
  • (YELP)/.46
  • (ZG)/.34
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY  for July.
8:30 am EST:
  • The Trade Deficit for June is estimated at -$80.0B versus -$85.5B in May.
  • Initial Jobless Claims for last week are estimated to rise to 260K versus 256K the prior week.
  • Continuing Claims are estimated to rise to 1383K versus 1359K prior.  
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Mester speaking, Eurozone retail sales report, BofE rate decision and the weekly EIA natural gas inventory report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly higher, boosted by industrial 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 50% net long heading into the day.

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