Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 78.75 +1.0 basis point. 

• Asia Pacific Sovereign CDS Index 10.25 unch.

• Bloomberg Emerging Markets Currency Index 66.18 -.06%.

• FTSE 100 futures unch.

• S&P 500 futures +.01%.

• NASDAQ 100 futures +.02%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (ANF)/-.04

• (BURL)/.96

• (CPB)/.24

• (CIEN)/.36

• (DG)/1.50

• (DLTR)/1.16

• (PERY)/.15

• (SIG)/.18

• (TD)/1.63

After the Close:

• (AMBA)/.13

• (COO)/3.07

• (LULU)/.49

• (NTNX)/-.22

• (ULTA)/2.41

Economic Releases 
8:30 am EST

• The PCE Core MoM for July is estimated to rise +.2% versus a +.1% gain in June.

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

• Personal Spending for July is estimated to rise +.4% versus a +.4% gain in June. 

• Initial Jobless Claims for last week are estimated to rise to 213K versus 210K the prior week.

• Continuing Claims are estimated to rise to 1730K versus 1727K prior.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone Industrial Production report, German Unemployment report, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report and the (BOX) analyst day could also impact trading today.

BOTTOM LINE:  Asian indices are modestly higher, boosted by technology 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.