Friday Watch

Night Trading

• Asian equity indices are -1.25% to -.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 134.50 +5.0 basis points.

• Asia Pacific Sovereign CDS Index 102.25 +2.25 basis points.

• FTSE-100 futures -.30%.

• S&P 500 futures +.16%.

• NASDAQ 100 futures  +.19%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (ANN)/.07

• (BWS)/.10

• (BKE)/1.21

• (CCL)/-.08

• (EBIX)/.32

• (HIBB)/.70

• (KWK)/-.03

Economic Releases
8:30 am EST

• PPI Final Demand for February is estimated to rise +.2% versus a +.2% gain in January.

• PPI Ex Food & Energy for February is estimated to rise +.1% versus a +.2% gain in January.

9:55 am EST

• Preliminary Univ. of Mich. Consumer Confidence for March is estimated to rise to 82.0 versus 81.6 in February.

Upcoming Splits

• (ADES) 2-for-1

Other Potential Market Movers

• The Fed's Fischer speaking, German CPI and the (H) investor meeting could also impact trading today.

BOTTOM LINE: Asian indices are lower, weighed down by technology and commodity shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.