Friday Watch

Night Trading 

• Asian equity indices are -.25% to +.50% on average.
• Asia Ex-Japan Investment Grade CDS Index 127.75 +2.25 basis points. 
• Asia Pacific Sovereign CDS Index 43.5 +.25 basis point.
• Bloomberg Emerging Markets Currency Index 69.02 +.01%. 
• S&P 500 futures +.30%. 
• NASDAQ 100 futures +.40%.

Morning Preview Links

Earnings of Note
Company/Estimate 

• None of note

Economic Releases 

8:30 am EST

• Advance Goods Trade Balance report for October is estimated at -$59.0B versus -$56.5B in September.
• Preliminary Wholesale Inventories MoM for October are estimated to rise +.2% versus a +.1% gain in September.

9:45 am EST

• Preliminary Markit US Services PMI for November is estimated at 54.8 versus 54.8 in October. 

Upcoming Splits 

• None of note

Other Potential Market Movers

• The UK GDP report could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 75% net long heading into the day.