Thursday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 74.0 +.5 basis point. 

• China Sovereign CDS 50.0 +6.0 basis points. (new series)

• Bloomberg Emerging Markets Currency Index 68.32 +.06%.

• FTSE 100 futures -.4%.

• S&P 500 futures +.14%.

• NASDAQ 100 futures +.22%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (ATU)/.17
• (CSIQ)/1.16
• (CMC)/.27
• (CAG)/.49
• (DRI)/1.75
• (GIII)/.43
• (LE)/.41

After the Close:

• (CTAS)/1.72
• (JEF)/.24
• (NKE)/.65
• (SCHL)/-.27

Economic Releases
8:30 am EST

• The Philly Fed Business Outlook Index for March is estimated to rise to 4.8 from -4.1 in February.
• Initial Jobless Claims for last week are estimated to fall to 225K versus 229K the prior week. 
• Continuing Claims are estimated to fall to 1770K versus 1776K prior.
  

10:00 am EST

• The Leading Index for February is estimated to rise +.1% versus a -.1% decline in January.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Australia Unemployment Rate, BoE Meeting and the weekly EIA natural gas inventory report could also impact trading today.

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