Wednesday Watch

Night Trading 

• Asian equity indices are +.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 78.5 -.25 basis point. 

• Asia Pacific Sovereign CDS Index 16.50 unch.

• Bloomberg Emerging Markets Currency Index 73.38 +.07%.

• S&P 500 futures +.03%.

• NASDAQ 100 futures +.06%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (OZRK)/.74
• (BLK)/5.53
• (DAL)/1.54
• (FAST)/.50

Economic Releases 

10:00 am EST

• JOLTS Job Openings for August are estimated to fall to 6135K versus 6170K in July.

2:00 pm EST

• FOMC Meeting Minutes.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Evans speaking, $24B 3Y T-Note auction, $20B 10Y T-Note auction, weekly MBA Mortgage Applications report and the (KR) investor conference could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by industrial and technology 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.