Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 62.75 +.5 basis point.

• China Sovereign CDS 35.75 unch.

• Bloomberg Emerging Markets Currency Index 60.16 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 465.0 -12.0 points
• Volatility Index(VIX) futures 26.9 -.46%
• FTSE 100 futures +.17%.

• S&P 500 futures +.20%.

• NASDAQ 100 futures +.14%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (BIG)/2.70
• (HIBB)/1.15
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST

• Advance Goods Trade Balance report for July is estimated to widen to -$72.0B versus -$70.6B in June.
• Wholesale Inventories MoM for July is estimated to fall -.9% versus a -1.4% decline in June.
• Retail Inventories MoM for July is estimated to fall -1.1% versus a -2.6% decline in June.
• Personal Income for July is estimated to fall -.4% versus a -1.1% decline in June.
• Personal Spending for July is estimated to rise +1.5% versus a +5.6% gain in June.
• The PCE Core MoM for July is estimated to rise +.5% versus a +.2% gain in June.
  

9:45 am EST

• The MNI Chicago PMI for August is estimated to rise to 52.6 versus 51.9 in July.
  

Upcoming Splits

• (AAPL)/4-for-1
• (TSLA)/5-for-1
  

Other Potential Market Movers

• The Fed's Bullard speaking, Fed's Harker speaking, Fed's Mester speaking and the GFK Consumer Confidence Index could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly lower, weighed down 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.