Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 79.5 -.5 basis point.

• China Sovereign CDS 36.75 -.75 basis point.

• Bloomberg Emerging Markets Currency Index 61.08 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 3,134.0 -55.0 points.
• Volatility Index(VIX) futures 21.55 -.34%.
• FTSE 100 futures +.57%.

• S&P 500 futures +.17%.

• NASDAQ 100 futures +.39%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (AXL)/.26
• (CCJ)/-.08
• (CI)/4.40
• (DKNG)/-.46
• (ELAN)/.23
• (FLR)/.03
• (ITT)/.87
• (LEA)/2.95
• (NKLA)/-.34
• (UI)/2.31
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST

• Two-Month Payroll Net Revision.
• The Change in Non-Farm Payrolls for April is estimated at 1000K versus 916K in March.
• The Unemployment Rate for April is estimated to fall to 5.8% versus 6.0% in March.
• Average Hourly Earnings MoM for April is estimated unch. versus a -.1% decline in March.
  

10:00 am EST

• Wholesale Trade Sales MoM for March is estimated to rise +1.0% versus a -.8% decline in Feb.

3:00 pm EST

• Consumer Credit for March is estimated at $20.0B versus $27.578B in Feb.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone Trade Data, 1Q Mortgage Delinquencies/Foreclosures reports and (CL) annual meeting could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are modestly 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 75% net long heading into the day.