Thursday Watch

Night Trading 

• Asian equity indices are -.25% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 103.0 unch. 

• Asia Pacific Sovereign CDS Index 24.75 +.5 basis point.

• Bloomberg Emerging Markets Currency Index 72.07 +.01%.

• S&P 500 futures +.06%. 

• NASDAQ 100 futures +.06%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (ABB)/.27

• (ADS)/3.86

• (BBT)/.73

• (BX)/.68

• (BK)/.80

• (DHR)/.84

• (DHI)/.59

• (KEY)/.28

• (NUE)/1.13

• (NVR)/20.81

• (PPG)/1.32

• (DGX)/1.18

• (SHW)/2.07

• (SNA)/2.34

• (TRV)/2.38

• (VZ)/.96

• (BGG)/.82

• (MAT)/-.17

• (MXIM)/.52

• (NCR)/.46

• (RHI)/.58

• (V)/.79

• (WERN)/.20

Economic Releases

8:30 am EST 

• Initial Jobless Claims for last week are estimated to rise to 240K versis 234K the prior week.

• Continuing Claims are estimated to fall to 2024K versus 2028K prior.

• The Philly Fed Business Outlook Index for April is estimated to fall to 25.5 versus 32.8 in March. 
  

10:00 am EST

• The Leading Index for March is estimated to rise +.2% versus a +.6% gain in February. 
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Powell speaking, German PPI report, weekly Bloomberg Consumer Comfort Index, Bloomberg Economic Expectations Index for April, weekly EIA natural gas inventory report, (VALE) general meeting and the (IRM) investor day 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 modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.