Friday Watch

Night Trading 

• Asian equity indices are -.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 70.0 -1.25 basis points.

• China Sovereign CDS 47.5 -1.0 basis point.

• Bloomberg Emerging Markets Currency Index 65.91 -.05%.

• S&P 500 futures +.03%.

• NASDAQ 100 futures +.03%.

Morning Preview Links 

Earnings of Note 
Company/Estimate

Before the Open:

• (CAE)/.44
• (DE)/3.63

After the Close:

• None of note

Economic Releases
10:00 am EST

• The Leading Index for April is estimated to rise +.2% versus a +.4% gain in March.
• Preliminary Univ. of Mich. Consumer Sentiment for May is estimated at 97.2 versus 97.2 in April.
  

Upcoming Splits

• None of note

Other Potential Market Movers

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

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