Friday Watch

Night Trading

• Asian equity indices are -.50% to +.50% on average.
• Asia Ex-Japan Investment Grade CDS Index 162.0 +7.0 basis points.
  
• Asia Pacific Sovereign CDS Index 133.75 +6.5 basis points.
• FTSE-100 futures +.65%.
  
• S&P 500 futures +.24%.
  
• NASDAQ 100 futures +.21%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (FINL)/.81

Economic Releases
8:30 am EST

• Personal Income for February is estimated to rise +.4% versus a +.3% gain in January.
• Personal Spending for February is estimated to rise +.6% versus a +.2% gain in January.
• The PCE Core for February is estimated to rise +.1% versus a +.2% gain in January.

9:45 am EST

• The Chicago Purchasing Manager Index for March is estimated to fall to 63.0 versus 64.0 in February.

9:55 am EST

• Final Univ. of Mich. Consumer Confidence for March is estimated to rise to 74.5 versus a prior estimate of 74.3.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurogroup meeting and NAPM-Milwaukee for March could also impact trading today.
  

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.