Thursday Watch

 Night Trading 

• Asian equity indices are -.75% to unch. on average.

• Asia Ex-Japan Investment Grade CDS Index 66.0 +1.75 basis points.

• China Sovereign CDS 39.75 +1.0 basis point.

• Bloomberg Emerging Markets Currency Index 59.39 -.01%.
• Bloomberg Global Risk-On/Risk Off Index 338.0 +6.0 points.
• Volatility Index(VIX) futures 28.53 +1.17%
• FTSE 100 futures -.42%.

• S&P 500 futures -.30%.

• NASDAQ 100 futures -.64%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (SCHW)/.47
• (CMC)/.56
• (MS)/1.28
• (TSM)/4.27
• (WBA)/.96
  

After the Close:

• (ISRG)//2.05
• (MRTN)/.20
  

Economic Releases

8:30 am EST

• Empire Manufacturing for Oct. is estimated to fall to 14.0 versus 17.0 in Sept.
• Initial Jobless Claims for last week are estimated to fall to 825K versus 840K the prior week.
• Continuing Claims are estimated to fall to 10550K versus 10976K prior.
• The Import Price Index MoM for Sept. is estimated to rise +.3% versus a +.9% gain in Aug.
• The Import Price Index Ex Petrol for Sept. is estimated to rise +.5% versus a +.7% gain in Aug. 
• The Export Price Index MoM for Sept. is estimated to rise +.3% versus a +.5% gain in Aug.
• The Philly Fed Business Outlook Index for Oct. is estimated to fall to 14.8 versus 15.0 in Sept.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Town Halls with President Trump/Joe Biden, Fed's Quarles speaking, weekly Bloomberg Consumer Comfort Index, China Yuan Loans, weekly EIA natural gas inventory report and the (HPE) analyst meeting 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 technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.