Wednesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 67.0 +.25 basis point. 

• China Sovereign CDS 45.75 -1.5 basis points.

• Bloomberg Emerging Markets Currency Index 67.93 unch.

• FTSE 100 futures -.31%.

• S&P 500 futures -.21%.

• NASDAQ 100 futures -.23%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (ANF)/1.15
• (BJ)/.36
• (BF/B)/.45
• (DLTR)/1.92
• (DCI)/.51
• (THO)/1.02

After the Close:

• (CASY)/.96

Economic Releases
8:15 am EST

• The ADP Employment Change for  Feb. is estimated to fall to 190K versus 213K in Jan.

8:30 pm EST

• The Trade Balance for Dec. is estimated to widen to -$57.9B versus -$49.2B in Nov.

2:00 pm EST

• US Fed Beige Book report.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Mester speaking, Australia GDP report, weekly EIA energy inventory data, weekly MBA Mortgage Applicatins report, (XOM) investor day, (ZUMZ) monthly sales release, (LOGI) investor day, (EL) investor day, Huawei CFO extradition hearing and the (TTD) investor day could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by financial and industrial 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.