Tuesday, January 24, 2023

Wednesday Watch

Evening Headlines

Bloomberg:          

Fox News:
CNBC.com:
MarketWatch:              
Zero Hedge:
Newsmax:
Twitter: 
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 106.50 -.5 basis point. 
  • China Sovereign CDS 52.25 unch. 
  • China Iron Ore Spot 124.3 USD/Metric Tonne -1.1%.
  • Bloomberg Emerging Markets Currency Index 48.7 +.03%.
  • Bloomberg Global Risk-On/Risk Off Index  56.4 +.09%. 
  • Bloomberg US Financial Conditions Index .27 +1.0 basis point.
  • Volatility Index(VIX) futures 20.2 +1.3%.
  • Euro Stoxx 50 futures -.29%.
  • S&P 500 futures -.45%.
  • NASDAQ 100 futures -.79%.  
Morning Preview Links

Earnings of Note 
Company/Estimate 
 
Before the Open: 
  • (ABT)/.93
  • (ASML)/4.33
  • (T)/.58
  • (ADP)/1.94
  • (BA)/.20
  • (FCX)/.44
  • (GD)/3.54
  • (GPI)/10.73
  • (HTLD)/.30
  • (HES)/1.63
  • (KMB)/1.51
  • (NDAQ)/.65
  • (MNRO)/.43
  • (NEE)/.50
  • (NSC)/3.44
  • (PGR)/1.45
  • (TDY)/4.54
  • (TXT)/1.07
  • (USB)/1.14
After the Close:
  • (BOOT)/1.75
  • (CCI)/1.94
  • (CSX)/.47
  • (ETD)/.89
  • (FLEX)/.60
  • (IBM)/3.61
  • (LRCX)/10.00
  • (LVS)/-.10
  • (LEVI)/.30
  • (RJF)/2.28
  • (STX)/.09
  • (NOW)/2.02
  • (STLD)/3.64
  • (TER)/.75
  • (TSLA)/1.12
  • (URI)/10.29
Economic Releases
10:30 am EST
  • Bloomberg consensus estimates call for a weekly crude oil inventory gain of +704,000 barrels versus a +8,408,000 barrel gain the prior week. Gasoline supplies are estimated to rise by +1,304,430 barrels versus a +3,483,000 barrel gain prior. Distillate inventories are estimated to fall by -1,232,140 barrels versus a -1,939,000 barrel decline the prior week. Finally, Refinery Utilization is estimated to rise +1.64% versus a +1.2% gain prior.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Australia CPI report, 5Y T-Note auction, weekly MBA Mortgage Applications report, (KMI) investor day, (PLUG) business update and the TD Securities Mining Conference could also impact global trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and mining shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon.  The Portfolio is 50% net long heading into the day.

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