Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 87.0 -1.0 basis point. 

• Asia Pacific Sovereign CDS Index 18.25 -.5 basis point.

• Bloomberg Emerging Markets Currency Index 73.24 -.04%.

• S&P 500 futures -.04%.

• NASDAQ 100 futures -.03%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (SJM)/1.72

• (PAY)/.29

• (MTN)/4.88

Economic Releases 

8:30 am EST

• Initial Jobless Claims are estimated to fall to 240K versus 248K the prior week.

• Continuing Claims are estimated to rise to 1920K versus 115K prior.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The UK Snap Election results, James Comey testimony to Senate Intel Committee, ECB Press Conference, China Trade Balance report, 1Q Household Change in Net Worth, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, (BABA) investor day and the Citi SMid-Cap Conference could also impact trading today.

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