Wednesday, December 07, 2022

Thursday Watch

Evening Headlines


Fox News:
Zero Hedge:
The Epoch Times:
Night Trading 
  • Asian equity indices are -.75% to unch. on average.
  • Asia Ex-Japan Investment Grade CDS Index 134.0 +2.5 basis points. 
  • China Sovereign CDS 76.25 -4.0 basis points. 
  • China Iron Ore Spot 106.5 USD/Metric Tonne +.3%.
  • Bloomberg Emerging Markets Currency Index 47.8 +.04%.
  • Bloomberg Global Risk-On/Risk Off Index  45.7 +.3%. 
  • Bloomberg US Financial Conditions Index -.66 unch.
  • Volatility Index(VIX) futures 25.4 +.8%.
  • Euro Stoxx 50 futures -.41%.
  • S&P 500 futures -.36%.
  • NASDAQ 100 futures -.44%  
Morning Preview Links

Earnings of Note 
Before the Open: 
  • (CIEN)/.07
  • (KFY)/1.41
After the Close:
  • (AVGO)/10.29
  • (CHWY)/-.06
  • (COO)/3.11
  • (COST)/3.16
  • (DUCU)/.42
  • (LULU)/1.96
  • (FIZZ)/.34
  • (RH)/4.69
  • (MTN)/-3.29
Economic Releases
8:30 am EST
  • Initial Jobless Claims for last week is estimated to rise to 230K versus 225K the prior week. 
  • Continuing Claims is estimated to rise to 1618K versus 1608K prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan GDP report, weekly EIA natural gas inventory report, (UL) investor event, (AVY) fireside chat, (XOM) corporate plan update, (DCO) investor day, (HAS) fireside chat and the (EW) investor conference could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are modestly lower, weighed down by financial and technology 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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