- Asian indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 101.25 +1.25 basis points.
- Asia Pacific Sovereign CDS Index 23.5 +2.25 basis points.
- Bloomberg Emerging Markets Currency Index 72.19 +.04%.
- S&P 500 futures -.04%.
- NASDAQ 100 futures -.05%.
Earnings of Note
8:30 am EST
- Empire Manufacturing for April is estimated to fall to 15.0 versus 16.4 in March.
10:00 am EST
- The NAHB Housing Market Index for April is estimated to fall to 70.0 versus 71.0 in March.
4:00 pm EST
- Net Long-Term TIC Flows.
- None of note
Other Potential Market Movers
- The China Retail/Industrial Profits/GDP reports and the RBA Minutes could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the week.