Monday, November 28, 2022

Tuesday Watch

Evening Headlines


Fox News:
Zero Hedge:
Night Trading 
  • Asian equity indices are -.25% to +.75% on average.
  • Asia Ex-Japan Investment Grade CDS Index 144.25 -3.75 basis points. 
  • China Sovereign CDS 84.0 -2.25 basis points. 
  • China Iron Ore Spot 100.20 USD/Metric Tonne +2.9%
  • Bloomberg Emerging Markets Currency Index 47.49 +.07%.
  • Bloomberg Global Risk-On/Risk Off Index  47.3 +1.0%. 
  • Bloomberg US Financial Conditions Index -.61 +2.0 basis points.
  • Volatility Index(VIX) futures 23.5 +.2%.
  • Euro Stoxx 50 futures -.28%.
  • S&P 500 futures +.05%.
  • NASDAQ 100 futures +.06%  
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (HIBB)/2.49
  • (SJR)/.36
After the Close:
  • (CRWD)/.32
  • (HPE)/.57
  • (INTU)/1.20
  • (NTAP)/1.33
  • (WDAY)/.84
Economic Releases
9:00 am EST
  • The FHFA House Price Index MoM for Sept. is estimated to fall -1.2% versus a -.7% decline in Aug.
  • The S&P CoreLogic CS 20-City MoM SA for Sept. is estimated to fall -1.2% versus a -1.32% in Aug.
  • The S&P CoreLogic CS 20-City YoY NSA for Sept. is estimated to rise +10.5% versus a +13.1% gain in Aug.
10:00 am EST
  • Conference Board Consumer Confidence for Nov. is estimated fall to 100.0 versus 102.5 in Oct.
Upcoming Splits
  • (TECH) 4-for-1
Other Potential Market Movers
  • The Eurozone Consumer Confidence report, US weekly retail sales reports, Citi Basic Materials Conference, Citi Chemical Conference, Piper Sandler Healthcare Conference, (EMR) investor conference, (UNH) investor conference and the Wells Fargo TMT Summit 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 industrial and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

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