Friday Watch

Night Trading 

• Asian equity indices are -1.0% to -.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 81.75 +1.75 basis points. 
• Asia Pacific Sovereign CDS Index 9.75 +.5 basis point.
• Bloomberg Emerging Markets Currency Index 66.0 -.02%.
• FTSE 100 futures -1.26%.
• S&P 500 futures +.03%.
• NASDAQ 100 futures +.01%.

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 August is estimated at -$53.6B versus -$50.1B in July.
• The Change in Non-Farm Payrolls for September is estimated to fall to 185K versus 201K in August.
•  The Unemployment Rate for September is estimated to fall to 3.8% versus 3.9% in August.
• Average Hourly Earnings MoM for September is estimated to rise +.3% versus a +.4% gain in August.
  

3:00 pm EST

• Consumer Credit for August is estimated at $15.0B versus $16.64B in July.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Bostic speaking and German Factory Orders report could also impact trading today.

BOTTOM LINE:  Asian indices are lower, weighed down by technology 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.