Monday, November 07, 2022

Tuesday Watch

Evening Headlines

Bloomberg:                 
Fox News:
Zero Hedge:
Newsmax:  
SKirsch.com:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 190.75 -21.0 basis points. 
  • China Sovereign CDS 93.75 -11.0 basis points.
  • Bloomberg Emerging Markets Currency Index 46.9 -.09%.  
  • Bloomberg Global Risk-On/Risk Off Index 52.2 +.5%. 
  • Bloomberg US Financial Conditions Index -.98 -1.0 basis point.
  • Volatility Index(VIX) futures 25.4 -.31%.
  • Euro Stoxx 50 futures +.19%.
  • S&P 500 futures +.11%.
  • NASDAQ 100 futures +.23%  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (CNHI)/.33
  • (DBD)/.24
  • (DD)/.79
  • (ELAN)/.16
  • (EXPD)/1.94
  • (HAIN)/.09
  • (IGT)/.31
  • (RIDE)/-.31
  • (NCLH)/-.69
  • (SAGE)/-2.19
  • (SPWR)/.08
After the Close:
  • (DDD)/-.08
  • (AFRM)/-.88
  • (AKAM)/1.22
  • (BIRD)/-.18
  • (AMC)/-.25
  • (DOX)/1.29
  • (BLNK)/-.47
  • (IAC)/-.46
  • (NWSA)/.13
  • (OXY)/2.45
  • (SFM)/.51
  • (DIS)/.56
Economic Releases
6:00 am EST
  • The NFIB Small Business Optimism Index for Oct. is estimated to fall to 91.4 versus 92.1 in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Mester speaking, 3Y T-Note auction, weekly US retail sales reports, Baird Industrial Conference, Morgan Stanley Industrial Conference, (ZM) investor day, (NUE) investor day, (NDAQ) investor day and the Morgan Stanley Chemicals/Ag/Packaging 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 financial and technology shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

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