Thursday Watch

Night Trading 

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

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

• China Sovereign CDS 39.5 +.75 basis point.

• Bloomberg Emerging Markets Currency Index  65.49 +.03%.
• FTSE 100 futures +.11%.

• S&P 500 futures -.08%.

• NASDAQ 100 futures -.11%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (AZZ)/.56
• (BF/B)/.52
• (DG)/1.38
• (JILL)/.10
• (KR)/.49
• (SIG)/-1.09
• (TIF)/.85
• (TD)/1.74

After the Close:

• (COO)/3.27
• (CRWD)/-.12
• (KFY)/.81
• (OKTA)/-.12
• (ULTA)/2.14
• (ZUMZ)/.60

Economic Releases
7:30 am EST

• Challenger Job Cuts YoY for Nov.
  

8:30 am EST

• Initial Jobless Claims for last week are estimated to rise to 215K versus 213K the prior week.
• Continuing Claims are estimated to rise to 1660K versus 1640K prior.
• The Trade Deficit for Oct. is estimated at -$48.6B versus -$52.5B in Sept.
  

10:00 am EST

• Factory Orders for Oct. are estimated to rise +.3% versus a -.6% decline in Sept.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Quarles speaking, Eurozone retail sales report, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, Goldman Sachs Auto Conference, BofA Merrill Solar/Alt Energy Symposium, (WFC) analyst meeting, (WMB) analyst day, (EW) investor day and the (BIIB) Aducanumab Phase 3 Topline results could also impact trading today.

BOTTOM LINE: Asian indices are higher, boosted by commodity 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 75% net long heading into the day.