Wednesday, October 05, 2022

Thursday Watch

Evening Headlines

Bloomberg:          
Wall Street Journal:
Fox News:
Zero Hedge:
Newsmax:  
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 171.0 +1.5 basis points. 
  • China Sovereign CDS 97.75 +2.5 basis points.
  • Bloomberg Emerging Markets Currency Index 47.47 +.11%   
  • Bloomberg Global Risk-On/Risk Off Index 48.05 -.6%. 
  • Bloomberg US Financial Conditions Index -.97 unch.
  • Volatility Index(VIX) futures 28.7 -1.1%
  • Euro Stoxx 50 futures n/a.
  • S&P 500 futures +.46%.
  • NASDAQ 100 futures +.61%  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ANGO)/-.02
  • (CAG)/.52
  • (STZ)/2.81
  • (MKC)/.73
After the Close:
  • (LEVI)/.37
  • (ACCD)/-.50
Economic Releases
7:30 am EST
  • Challenger Job Cuts YoY for Sept.
8:30 am EST
  • Initial Jobless Claims for last week are estimated to rise to 203K versus 193K the prior week.
  • Continuing Claims are estimated to rise to 1350K versus 1347K prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Cook speaking, Fed's Waller speaking, German Factory Orders report, weekly EIA natural gas inventory report, (NUVA) investor day and the ROTH Capital Healthcare Conference 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 technology and commodity shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 50% Net Long heading into the day.

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