Sunday, December 04, 2022

Monday Watch

Today's Headlines

Wall Street Journal:
  • Had bullish commentary on (WHR), (LEN), (NVR), (DHI), (BOOT), (WDAY), (CDAY), (HUBS), (MAS), (ABBV) and (FBHS).
Fox News:
Zero Hedge:
Covid-19(Data, Maps, Graphs):
Night Trading
  • Asian indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 131.25 -1.0 basis point.
  • China Sovereign CDS 76.5 -1.75 basis points.
  • China Iron Ore Spot 108.6 USD/Metric Tonne +2.5%
  • Bloomberg Emerging Markets Currency Index 47.94 +.07%.
  • Bloomberg Global Risk-On/Risk Off Index 50.3 +.7%.
  • Bloomberg US Financial Conditions Index -.42 unch. 
  • Volatility Index(VIX) futures 24.1 +.9%. 
  • Euro Stoxx 50 futures +.08%.
  • S&P 500 futures -.16%.
  • NASDAQ 100 futures -.16%.

Earnings of Note

Before the Open:
  • None of note
After the Close:
  • None of note
Economic Releases 
10:00 am EST
  • Factory Orders for Oct. is estimated to rise +.7% versus a +.3% gain in Sept. 
  • ISM Services Index for Nov. is estimated to fall to 53.5 versus 54.4 in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone PMI report, Raymond James Tech Conference, UBS Media/Telecom/Tech Conference and the Goldman Industrials Conference could also impact 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 lower and to rally into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the week.

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