Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 82.25 -2.5 basis points. 

• Asia Pacific Sovereign CDS Index 11.0 +.5 basis point.

• Bloomberg Emerging Markets Currency Index 66.76 +.04%.

• FTSE 100 futures +.02%

• S&P 500 futures +.04%.

• NASDAQ 100 futures -.03%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (DE)/2.74

After the Close:

• None of note

Economic Releases 
10:00 am EST

• The Leading Index for July is estimated to rise +.4% versus a +.5% gain in June.

• Preliminary Univ. of Mich. Consumer Sentiment for August is estimated to rise to 98.0 versus 97.9 in July.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone CPI report could also impact trading today.

BOTTOM LINE:  Asian indices are higher, boosted by financial 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.