Friday Watch

Night Trading

• Asian equity indices are -1.50% to -.50% on average.
• Asia Ex-Japan Investment Grade CDS Index 149.0 +5.0 basis points.
  
• Asia Pacific Sovereign CDS Index 144.0 +5.75 basis points.
• FTSE-100 futures -1.33%.
  
• S&P 500 futures -.60%.
  
• NASDAQ 100 futures -.55%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (CPB)/.38

Economic Releases
8:30 am EST

• The Change in Non-Farm Payrolls for August is estimated at 68K versus 117K in July.
• The Unemployment Rate for August is estimated at 9.1% versus 9.1% in July.
• Average Hourly Earnings for August is estimated to rise +.2% versus a +.4% gain in July.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• None of note
  

BOTTOM LINE: Asian indices are lower, weighed down by industrial and commodity 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.