Friday Watch

Night Trading 

• Asian equity indices are unch. to +.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 95.5 +3.0 basis points. 
• Asia Pacific Sovereign CDS Index 15.0 unch.
• Bloomberg Emerging Markets Currency Index 69.66 unch.
• FTSE 100 futures +.25%.
• S&P 500 futures -.04%.
• NASDAQ 100 futures -.15%.

Morning Preview Links

Earnings of Note
Company/Estimate
Before the Open:

• None of note

After the Close:

• None of note
  

Economic Releases 
8:30 am EST

• The Trade Deficit for May is estimated at -$43.7B versus -$46.2B in April.
• The Change in Non-Farm Payrolls for June is estimated at 195K versus 223K in May.
• The Unemployment Report for June is estimated at 3.8% versus 3.8% in May.
• Average Hourly Earnings MoM for June is estimated to rise +.3% versu a +.3% gain in May.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The German Industrial Production report and US tariffs against China could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by consumer 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.