Thursday, October 27, 2022

Friday Watch

Night Trading 

  • Asian equity indices are -1.0% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 217.75 -2.5 basis points. 
  • China Sovereign CDS 116.50 -1.0 basis point.
  • Bloomberg Emerging Markets Currency Index 46.6 -.07%.  
  • Bloomberg Global Risk-On/Risk Off Index 44.3 +.1%. 
  • Bloomberg US Financial Conditions Index -1.12 +4.0 basis point.
  • Volatility Index(VIX) futures 27.4 +1.8%
  • Euro Stoxx 50 futures -.78%.
  • S&P 500 futures -.67%.
  • NASDAQ 100 futures -.92%  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ABBV)/3.56
  • (AB)/.58
  • (AON)/1.99
  • (B)/.49
  • (BLMN)/.34
  • (BAH)/1.13
  • (CRI)/1.71
  • (CHTR)/8.39
  • (CVX)/4.85
  • (CHD)/.65
  • (CL)/.73
  • (XOM)/3.80
  • (GNTX)/.38
  • (JKS)/.71
  • (LYB)/2.95
  • (NWL)/.47
After the Close:
  • None of note
Economic Releases
8:30 am EST
  • The 3Q Employment Cost Index is estimated to rise +1.2% versus a +1.3% gain in 2Q. 
  • Personal Income for Sept. is estimated to rise +.4% versus a +.3% gain in Aug.
  • Personal Spending for Sept. is estimated to rise +.4% versus a +.4% gain in Aug.
  • Real Personal Spending for Sept. is estimated to rise +.2% versus a +.1% gain in Aug.
  • The PCE Core MoM for Sept. is estimated to rise +.5% versus a +.6% gain in Aug.
10:00 am EST
  • Pending Home Sales MoM for Sept. is estimated to fall -4.0% versus a -2.0% decline in Aug.
  • Final Univ. of Mich. Consumer Sentiment readings.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German GDP report could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and transport shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% Net Long heading into the day.

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