Friday Watch

Night Trading 

• Asian equity indices are -.50% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 161.75 -4.75 basis points.
• Asia Pacific Sovereign CDS Index 37.5 +.25 basis point.
• Bloomberg Emerging Markets Currency Index 69.50 -.01%. 
• S&P 500 futures +.03%. 
• NASDAQ 100 futures -.04%.

Morning Preview Links

Earnings of Note
Company/Estimate

• None of note

Economic Releases
10:00 am EST

• New Home Sales for November are estimated to rise to 575K versus 563K in October.
• Final Univ. of Mich. Consumer Sentiment for December is estimated at 98.0 versus a prior estimate of 98.0. 

Upcoming Splits 

• None of note

Other Potential Market Movers

• The German GfK report could also impact trading today.

BOTTOM LINE:  Asian indices are mostly lower, weighed down by financial and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.