Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 72.25 +.25 basis point. 

• China Sovereign CDS 51.5 -.25 basis point.

• Bloomberg Emerging Markets Currency Index 68.09 +.01%.

• FTSE 100 futures +.11%.

• S&P 500 futures -.08%.

• NASDAQ 100 futures -.12%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (AN)/1.16
• (B)/.82
• (COG)/.58
• (ITT)/.74
• (MGA)/1.60
• (RUTH)/.49
• (TDS)/.24
• (W)/-1.30

After the Close:

• None of note

Economic Releases

• None of note

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Williams speaking, Fed's Bullard speaking, Fed's Harker speaking, Fed's Quarles speaking, Fed's Clarida speaking, Eurozone GDP report and the Eurozone CPI report could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.