Monday, December 19, 2022

Tuesday Watch

Night Trading 

  • Asian equity indices are -.75% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 133.0 +.25 basis point. 
  • China Sovereign CDS 77.25 +.5 basis point. 
  • China Iron Ore Spot 108.2 USD/Metric Tonne +.6%.
  • Bloomberg Emerging Markets Currency Index 47.6 -.05%.
  • Bloomberg Global Risk-On/Risk Off Index  49.8 +.12%. 
  • Bloomberg US Financial Conditions Index -.55 -3.0 basis points.
  • Volatility Index(VIX) futures 24.1 +.13%.
  • Euro Stoxx 50 futures -.13%.
  • S&P 500 futures +.10%.
  • NASDAQ 100 futures +.16%.  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (FDS)/3.63
  • (GIS)/1.06
After the Close:
  • (AIR)/.68
  • (BB)/-.07
  • (NKE)/.65
  • (WOR)/.61
Economic Releases
8:30 am EST
  • Housing Starts for Nov. is estimated to fall to 1400K versus 1425K in Oct.
  • Building Permits for Nov. is estimated to fall to 1480K versus 1526K in Oct.
9:00 am EST
  • Bloomberg US Economic Survey for Dec.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The PBOC decision and the weekly US retail sales reports could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer 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 25% net long heading into the day.

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