Friday Watch

Night Trading 

• Asian equity indices are +.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 64.75 -.25 basis point.

• China Sovereign CDS 39.25 -.25 basis point.

• Bloomberg Emerging Markets Currency Index  65.64 +.03%.
• FTSE 100 futures +.20%.

• S&P 500 futures +.14%.

• NASDAQ 100 futures +.16%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (BIG)/-.20
• (GCO)/1.08

After the Close:

• None of note

Economic Releases 
8:30 am EST

• Two-Month Payroll Net revisions for Nov. 
• The Change in Non-Farm Payrolls for Nov. is estimated to rise to 184K versus 128K in Oct.
• The Unemployment Rate for Nov. is estimated at 3.6% versus 3.6% in Oct.
• Average Hourly Earnings MoM for Nov. is estimated to rise +.3% versus a +.2% gain in Oct.
  

10:00 am EST

• Wholesale Trade Sales MoM for Oct.
• Univ. of Mich. Consumer Confidence for Dec. is estimated to rise to 97.0 versus 96.8 in Nov.
  

3:00 pm EST

• Consumer Credit for Oct. is estimated to rise to $16.0B versus $9.513B in Sept.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Canadian unemployment rate, (WWD) investor conference and the (SON) investor conference could also impact trading today.

BOTTOM LINE: Asian indices are higher, boosted by industrial and technology shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.