Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 57.25 +.25 basis point.

• China Sovereign CDS 29.25 +.5 basis point.

• Bloomberg Emerging Markets Currency Index 62.92 +.03%.
• Bloomberg Global Risk-On/Risk Off Index 2,818.0 +19.0 points.
• Volatility Index(VIX) futures 25.80 +.03%.
• FTSE 100 futures +.28%.

• S&P 500 futures +.06%.

• NASDAQ 100 futures +.03%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (B)/.33
• (DE)/2.15
• (FRO)/-.01
• (ITT)/.92
• (MGA)/2.03
  

After the Close:

• (BLUE)/-2.96
• (KBR)/.48
  

Economic Releases

9:45 am EST

• The Markit US Manufacturing PMI for February is estimated to fall to 58.7 versus 59.2 in Jan.
• The Markit US Services PMI for February is estimated to fall to 58.0 versus 58.3 in Jan.
  

10:00 am EST

• Existing Home Sales for Jan. is estimated to fall to 6.6M versus 6.76M in Dec.

Upcoming Splits

• (FIZZ) 2-for-1
  

Other Potential Market Movers

• The Eurozone PPI report 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 commodity and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.