Friday Watch

Night Trading 

• Asian equity indices are +.25% to +1.0% on average.
• Asia Ex-Japan Investment Grade CDS Index 88.25 -2.5 basis points. 
• Asia Pacific Sovereign CDS Index 19.25 -.5 basis point.
• Bloomberg Emerging Markets Currency Index 73.21 +.01%.
• S&P 500 futures +.18%.
• NASDAQ 100 futures +.24%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (GOOS)/-.19
• (HOV)/-.03

Economic Releases 

8:30 am EST

• The Change in Non-Farm Payrolls for May is estimated to fall to 180K versus 211K.
• The Unemployment Rate for May is estimated at 4.4% versus 4.4% in April.
• Average Hourly Earnings MoM for May is estimated to rise +.2% versus a +.3% gain in April.
• The Trade Deficit for April is estimated at -$46.1B versus -$43.7B in March.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone PPI report, ASCO-American Society of Clinical Oncology Annual Meeting, (ICE) Investor Day, (LOW) Annual Meeting and the (WMT) Annual Meeting could also impact trading today.

BOTTOM LINE:  Asian indices are 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 100% net long heading into the day.