Thursday Watch

Night Trading 

• Asian equity indices are -.75% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 100.0 +1.0 basis point. 
• Asia Pacific Sovereign CDS Index 22.50 +.5 basis point.
• Bloomberg Emerging Markets Currency Index 72.18 +.11%.
• S&P 500 futures -.09%. 
• NASDAQ 100 futures -.07%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (APOG)/.72
• (C)/1.25
• (INFY)/15.69
• (JPM)/1.52
• (TSM)/3.38
• (WFC)/.97

Economic Releases

8:30 am EST 

• PPI Final Demand MoM for March is estimated unch. versus a +.3% gain in February. 
• PPI Ex Food and Energy MoM for March is estimated to rise +.2% versus a +.3% gain in February. 
• Initial Jobless Claims are estimated to rise to 245K versus 234K the prior week.
• Continuing Claims are estimated to fall to 2024K versus 2028K the prior week.  

10:00 am EST

• Preliminary Univ. of Mich. Consumer Sentiment for April is estimated to fall to 96.5 versus 96.9 in March.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Australia Unemployment report, weekly Bloomberg Consumer Comfort Index and weekly EIA natural gas inventory report could also impact trading today.

BOTTOM LINE:  Asian indices are mostly lower, weighed down by industrial and commodity 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.