Monday, November 14, 2022

Tuesday Watch

Evening Headlines

Zero Hedge:
The Epoch Times:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 140.75 -8.75 basis points. 
  • China Sovereign CDS 76.0 +1.5 basis points.
  • Bloomberg Emerging Markets Currency Index 47.5 unch.
  • Bloomberg Global Risk-On/Risk Off Index 49.1 -.3%. 
  • Bloomberg US Financial Conditions Index -.73 +4.0 basis points.
  • Volatility Index(VIX) futures 25.2 -.8%.
  • Euro Stoxx 50 futures -.28%.
  • S&P 500 futures +.27%.
  • NASDAQ 100 futures +.40%  
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (ARMK)/.49
  • (BERY)/2.15
  • (ENR)/.79
  • (HD)/4.12
  • (DNUT)/.04
  • (SE)/-.95
  • (WMT)/1.32
After the Close:
  • (AAP)/3.34
Economic Releases
8:30 am EST
  • Empire Manufacturing for Nov. is estimated at -6.0 versus -9.1 in Oct.
  • PPI Final Demand MoM for Oct. is estimated to rise +.4% versus a +.4% gain in Sept.
  • PPI Ex Food and Energy MoM for Oct. is estimated to rise +.3% versus a +.3% gain in Sept.
  • PPI Final Demand YoY for Oct. is estimated to rise +8.3% versus an +8.5% gain in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Cook speaking, Fed's Barr speaking, Eurozone GDP report, China Retail Sales report, weekly US retail sales reports, Bloomberg US Economic Survey for Nov., Jefferies Healthcare Conference, RBC Tech/Media/Telecom Conference, Stifel Healthcare Conference, Stephens Investment Conference, Wolfe Healthcare Conference, (AFL) Analysts Briefing, (PLNT) investor day, (LMND) investor day and the Needham Networking/Communications/Security 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 healthcare 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 50% net long heading into the day.

No comments: