Friday Watch

Night Trading

• Asian equity indices are -1.0% to unch. on average.

• Asia Ex-Japan Investment Grade CDS Index 135.0 +1.0 basis point.

• Asia Pacific Sovereign CDS Index 100.75 -1.0 basis point. 

• FTSE-100 futures +.04%.

• S&P 500 futures -.21%.

• NASDAQ 100 futures +.07%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (B)/.52

• (DTE)/1.21

• (ETN)/1.12

• (LEA)/1.32

• (LM)/.89

• (NWL)/.49

• (PG)/1.05

• (SHW)/2.64

• (SPG)/2.16

• (UPS)/1.15

• (WY)/.22

Economic Releases
8:30 am EST

• Durable Goods Orders for September are estimated to rise +2.3% versus a +.1% gain in August. 

• Durables Ex Transports for September are estimated to rise +.5% versus a -.1% decline in August. 

• Cap Goods Orders Non-defense Ex Air for September are estimated to rise +1.0% versus a +1.5% gain in August.

9:55 am EST

• Final Univ. of Mich. Consumer Confidence for October is estimated to fall to 75.0 versus a prior estimate of 75.2.

10:00 am EST

• Wholesale Inventories for August are estimated to rise +.3% versus a +.1% gain in July.

• Wholesale Trade Sales for August are estimated to rise +.3% versus a +.1% gain in July.

Upcoming Splits

• None of note

Other Potential Market Movers

• The G7 meeting and UK GDP report could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.