Wednesday, August 24, 2022

Thursday Watch

Evening Headlines

Bloomberg:              
Wall Street Journal:  
Fox News:
Zero Hedge:
TheGatewayPundit.com: 
SKirsch.com:
Night Trading 
  • Asian equity indices are unch. to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 137.5 -6.5 basis points. 
  • China Sovereign CDS 70.0 -4.0 basis points.
  • Bloomberg Emerging Markets Currency Index 48.72 +.02%.  
  • Bloomberg Global Risk-On/Risk Off Index 43.40 -.37%. 
  • Bloomberg US Financial Conditions Index -.28 +1.0 basis point
  • Volatility Index(VIX) futures 24.3 -.16%
  • Euro Stoxx 50 futures n/a.
  • S&P 500 futures +.08%.
  • NASDAQ 100 futures +.05%. 
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ANF)/.23
  • (BURL)/.21
  • (DG)/2.94
  • (DLTR)/1.62
  • (FRO)/.20
  • (HAIN)/.18
  • (HIBB)/2.16
  • (PTON)/-.77
  • (TITN)/.70
  • (TD)/2.04
After the Close:
  • (AFRM)/-.73
  • (DELL)/1.64
  • (GPS)/-.02
  • (MRVL)/.56
  • (ULTA)/4.96
  • (VMW)/1.58
  • (WDAY)/./80
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 252K versus 250K the prior week.
  • Continuing Claims is estimated to rise to 1441K versus 1437K prior.
  • 2Q GDP revisions.
11:00 am EST
  • Kansas City Fed Manufacturing Activity for Aug. is estimated to fall to 10.0 versus 13.0 in July.
Upcoming Splits
  • (TSLA) 3-for-1
  • (NDAQ) 3-for-1
Other Potential Market Movers
  • The German IFO Index, 7Y T-Note auction 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 mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.

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