Friday Watch

Night Trading 

• Asian equity indices are -.50% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 137.25 -1.0 basis point. 
• Asia Pacific Sovereign CDS Index 56.50 +.25 basis point. 
• Bloomberg Emerging Markets Currency Index 72.93 +.05%. 
• S&P 500 futures +.08%. 
• NASDAQ 100 futures -.06%.

Morning Preview Links

Earnings of Note
Company/Estimate 

• (AAL)/1.19
• (AN)/.93
• (CAT)/.68
• (GE)/.19
• (GNTX)/.28
• (HON)/1.50
• (IPG)/.01
• (KMB)/1.51
• (LYB)/2.28
• (MCD)/1.16
• (SHOO)/.33
• (STI)/.75 

Economic Releases 
9:45 am EST

• The Preliminary Markit US Manufacturing PMI for April is estimated to rise to 52.0 versus 51.5 in March.

Upcoming Splits 

• None of note

Other Potential Market Movers

• The Eurozone Manufacturing PMI/GDP/CPI reports and the (NE) annual meeting could also impact trading today.

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