Sunday, December 18, 2022

Monday Watch

Night Trading

  • Asian indices are -1.0% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 132.75 +3.75 basis points.
  • China Sovereign CDS 76.75 +1.75 basis points.
  • China Iron Ore Spot 110.2 USD/Metric Tonne -1.0%
  • Bloomberg Emerging Markets Currency Index 47.7 +.1%.
  • Bloomberg Global Risk-On/Risk Off Index 49.7 +.7%.
  • Bloomberg US Financial Conditions Index -.66 -7.0 basis points. 
  • Volatility Index(VIX) futures 24.5 -.94%. 
  • Euro Stoxx 50 futures +.47%.
  • S&P 500 futures +.24%.
  • NASDAQ 100 futures +.31%.

Earnings of Note
Company/Estimate

Before the Open:
  • None of note
After the Close:
  • (HEI)/.69
  • (SCS)/.18
Economic Releases 
10:00 Am EST
  • The NAHB Housing Market Index for Dec. is estimated to rise to 34.0 versus 33.0 in Nov.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The China Industrial Production report could also impact trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the week.

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