Tuesday, December 27, 2022

Wednesday Watch

Evening Headlines


 Wall Street Journal:
Fox News:
Zero Hedge:
Night Trading 
  • Asian equity indices are -1.0% to -.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 131.25 -2.5 basis points. 
  • China Sovereign CDS 78.25 unch. 
  • China Iron Ore Spot 113.95 USD/Metric Tonne +.5%.
  • Bloomberg Emerging Markets Currency Index 47.67 unch.
  • Bloomberg Global Risk-On/Risk Off Index  56.5 -.14%. 
  • Bloomberg US Financial Conditions Index -.41 -2.0 basis points.
  • Volatility Index(VIX) futures 23.5 -.01%.
  • Euro Stoxx 50 futures -.23%.
  • S&P 500 futures -.06%.
  • NASDAQ 100 futures -.11%.  
Morning Preview Links

Earnings of Note 
Before the Open: 
  • None of note
After the Close:
  • (CALM)/4.24
Economic Releases
10:00 am EST
  • The Richmond Fed Manufacturing Index for Dec. is estimated to fall to -10 versus -9 in Nov.
  • Pending Home Sales MoM for Nov. is estimated to fall -1.0% versus a -4.6% decline in Oct.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Japan Foreign Investment report, 5Y Y-Note auction and the weekly 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 lower, weighed down by consumer 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 50% net long heading into the day.


Anonymous said...

happy new year
Thank you for all

Gary said...

Happy New Year to you, as well. Thanks for reading!