Thursday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 79.25 +.5 basis point. 

• Asia Pacific Sovereign CDS Index 13.5 +.25 basis point.

• Bloomberg Emerging Markets Currency Index 75.10 +.01%.

• FTSE 100 futures +.02%.

• S&P 500 futures +.12%.

• NASDAQ 100 futures +.30%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (ANGO)/.19

• (STZ)/1.74

• (FINL)/.58

• (WOR)/.75

• (TITN)/-.14

• (MOV)/.26

• (LNN)/.59

Economic Releases
8:30 am EST

• Personal Spending for February is estimated to rise +.2% versus a +.2% gain in January.

• Personal Income for February is estimated to rise +.4% versus a +.4% gain in January.

• The PCE Core MoM for February is estimated to rise +.2% versus a +.3% gain in January.

• Initial Jobless Claims for last week are estimated to rise to 230K versus 229K the prior week.

• Continuing Claims are estimated to rise to 1870K versus 1828K prior.

9:45 am EST

• The Chicago Purchasing Manager report for March is estimated to rise to 62.0 versus 61.9 in February.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Harker speaking, Japan Unemployment report, Japan Industrial Production report, UK GDP report, weekly Bloomberg Consumer Comfort Index and the Sidoti Spring Conference could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by pharma and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the day.