Friday Watch

Night Trading 

• Asian equity indices are -.75% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 139.5 +1.0 basis point. 
• Asia Pacific Sovereign CDS Index 52.0 +.5 basis point.
• Bloomberg Emerging Markets Currency Index 72.36 -.16%. 
• S&P 500 futures -.11%. 
• NASDAQ 100 futures -.11%.

Morning Preview Links

Earnings of Note
Company/Estimate 

• None of note

Economic Releases
10:00 am EST

• Preliminary Univ. of Mich. Consumer Sentiment for June is estimated to fall to 94.0 versus 94.7 in May. 
  

2:00 pm EST

• The Monthly Budget Deficit for May is estimated at -$56.0B. 

Upcoming Splits 

• None of note

Other Potential Market Movers

• The Canadian unemployment rate, USDA WASDE report and the (DAL) annual meeting could also impact trading today.

BOTTOM LINE:  Asian indices are mostly 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.