Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 65.0 +.75 basis point.

• China Sovereign CDS 40.75 -1.0 basis point.

• Bloomberg Emerging Markets Currency Index 66.55 +.02%.

• S&P 500 futures -.02%.

• NASDAQ 100 futures -.01%.

Morning Preview Links 

Earnings of Note 
Company/Estimate

Before the Open:

• (AGCO)/.43
• (ABC)/1.96
• (APTV)/1.01
• (AVP)/.00
• (BERY)/.99
• (DLPH)/.53
• (DISCA)/.80
• (DNKN)/.62
• (FSS)/.26
• (GPN)/1.29
• (HBI)/.25
• (ICE)/.90
• (K)/.95
• (MUR)/.11
• (ZEUS)/.22
• (PH)/3.01
• (PWR)/.83
• (SAGE)/-3.19
• (BID)/-.18
• (SFM)/.41
• (SSYS)/.06
• (THS)/.12
• (VMC)/.37
• (W)/-1.60
• (WEX)/1.69
• (ZTS)/.79

After the Close:

• (ATVI)/.25
• (ANET)/2.07
• (BZH)/.06
• (CBS)/1.37
• (CTSH)/1.04
• (LOCO)/.15
• (EXPE)/-.36
• (FSLR)/-.12
• (FLS)/.34
• (FLR)/.53
• (GILD)/1.60
• (KLIC)/-.04
• (LGND)/29.89
• (MTZ)/.43
• (MELI)/-.13
• (MNST)/.43
• (RMAX)/.47 
• (SHAK)/.13
• (TRUP)/.01
• (X)/.19
• (OLED)/.32
• (UPLD)/.52
• (WYNN)/1.58

Economic Releases 
7:30 am EST

• Challenger Job Cuts YoY for April.
  

8:30 am EST

• Initial Jobless Claims for last week are estimated to fall to 215K versus 230K the  prior week.
• Continuing Claims are estimated to rise to 1660K versus 1655K prior.
• Preliminary 1Q Non-Farm Productivity is estimated to rise +2.2% versus a +1.9% gain in 4Q.
• Preliminary 1Q Unit Labor Costs is estimated to rise +1.5% versus a +2.0% gain in 4Q.
  

10:00 am EST

• Factory Orders for March are estimated to rise +1.5% versus a -.5% gain in February.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone Manufacturing PMI report, BoE meeting, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, ThinkEquity Conference and the (CAT) investor meeting could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity 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 75% net long heading into the day.