Tuesday, November 01, 2022

Wednesday Watch

Evening Headlines

Bloomberg:                   
Fox News:
Zero Hedge:
TheGatewayPundit.com:
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -.25% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 225.75 -7.5 basis points. 
  • China Sovereign CDS 119.0 -7.75 basis points.
  • Bloomberg Emerging Markets Currency Index 46.5 -.09%.  
  • Bloomberg Global Risk-On/Risk Off Index 46.8 +.3%. 
  • Bloomberg US Financial Conditions Index -1.03 -2.0 basis points.
  • Volatility Index(VIX) futures 26.1 +.5%.
  • Euro Stoxx 50 futures +1.2%.
  • S&P 500 futures +.16%.
  • NASDAQ 100 futures +.25%  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ACIW)/.22
  • (ATI)/.53
  • (EAT)/-.61
  • (CHRW)/2.17
  • (GOOS)/.06
  • (CVS)/1.99
  • (DISH)/.58
  • (EL)/1.31
  • (FDP)/.10
  • (GNRC)/1.64
  • (HUM)/6.27
  • (JLL)/4.48
  • (ODP)/1.72
  • (ROK)/2.98
  • (SMG)/-1.99
  • (TUP)/.42
  • (UAA)/.16
  • (VSH)/.84
  • (VMC)/1.71
  • (YUM)/1.15
  • (ZBH)/1.56
After the Close:
  • (ALB)/6.99
  • (ALL)/-1.59
  • (APA)/1.78
  • (BKNG)/49.85
  • (CF)/3.32
  • (CTSH)/1.16
  • (EBAY)/.93
  • (FTNT)/.27
  • (TWNK)/.21
  • (IR)/.59
  • (IRBT)/1.25
  • (MRO)/1.18
  • (MET)/1.17
  • (MGM)?.13
  • (QCOM)/3.14
  • (RCII)/.89
  • (RGR)/1.14
  • (RIG)/-.17
  • (RGLD)/.72
  • (WERN)/.97
  • (YELL)/.35
  • (ZG)/.11
Economic Releases
8:15 am EST
  • The ADP Employment Change for Oct. is estimated at 180K versus 208K in Sept.
10:30 am EST
  • Bloomberg consensus estimates call for a weekly crude oil  inventory decline of -550,000 barrels versus a +2,588,000 barrel gain the prior week. Gasoline supplies are estimated to fall by -1,200,000 barrels versus a -1,478,000 barrel decline the prior week. Distillate inventories are estimated to fall by -500,000 barrels versus a +170,000 barrel gain the prior week. Finally, Refinery Utilization is estimated to rise by +.23% versus a -.6% decline prior.
2:00 pm EST:
  • The FOMC is expected to raise the benchmark Fed Funds Rate +75.0 bps to 3.75%-4.0%.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The weekly MBA Mortgage Applications report,  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 consumer and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% Net Long heading into the day.

No comments: