Friday Watch

Night Trading

• Asian equity indices are unch. to +1.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 161.0 -5.0 basis points.
  
• Asia Pacific Sovereign CDS Index 137.75 -.75 basis point.
  
• FTSE-100 futures -.05%.
  
• S&P 500 futures -.27%.
  
• NASDAQ 100 futures -.19%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (JPM)/1.17
• (WFC)/.73
  

Economic Releases
8:30 am EST

• The Consumer Price Index for March is estimated to rise +.3% versus a +.4% gain in February.
• The CPI Ex Food & Energy for March is estimated to rise +.2% versus a +.1% gain in February.

9:55 am EST

• Preliminary Univ. of Mich. Consumer Confidence for April is estimated at 76.2 versus 76.2 in March.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Bernanke speaking, Fed's Dudley speaking and Eurozone inflation data could also impact trading today.
  

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial 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 75% net long heading into the day.