Friday Watch

Night Trading 

• Asian equity indices are -1.0% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 80.25 +3.75 basis points. 

• China Sovereign CDS 57.50 +3.5 basis points.

• Bloomberg Emerging Markets Currency Index 68.33 -.04%.

• FTSE 100 futures -.03%.

• S&P 500 futures -.33%.

• NASDAQ 100 futures -.42%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (CLF)/.59

• (GT)/.69

• (HAS)/1.68

• (PCG)/.61

• (PSX)/2.89

After the Close:

• (CCJ)/.23

Economic Releases

• None of note

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone Trade Balance report could also impact trading today.

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