Friday Watch

Night Trading 

• Asian equity indices are -1.50% to -.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 130.5 +1.5 basis points.
• Asia Pacific Sovereign CDS Index 69.25 +1.0 basis point.
• Bloomberg Emerging Markets Currency Index 70.71 unch.
• S&P 500 futures +.26%.
• NASDAQ 100 futures +.23%.

Morning Preview Links 

Earnings of Note 
Company/Estimate

• (BIG)/.00
• (GCO)/1.30
• (HOV)/.10 

Economic Releases
8:30 am EST

• The Change in Non-Farm Payrolls for November is estimated to fall to 200K versus 271K in October.
• The Unemployment Rate for November is estimated at 5.0% versus 5.0% in October.
• Average Hourly Earnings for November are estimated to rise +.2% versus a +.4% gain in October.
• The Trade Deficit for October is estimated at -$40.5B versus -$40.81B in September. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Kocherlakota speaking, Fed's Bullard speaking, Fed's Harker speaking, OPEC Meeting, Eurozone retail sales data, German CPI report, (ITW) investor day and (NUS) investor day could also impact trading today.

BOTTOM LINE: Asian indices are lower, weighed down by commodity 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 25% net long heading into the day.