Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 71.25 -.75 basis point.

• China Sovereign CDS 34.5 -.25 basis point.
  

• Bloomberg Emerging Markets Currency Index 59.83 unch.
• Bloomberg Global Risk-On/Risk Off Index 2,865.0 -2.0 points.
• Volatility Index(VIX) futures 19.35 +.61%.
• FTSE 100 futures -.25%.

• S&P 500 futures -.06%.

• NASDAQ 100 futures -.06%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (FLWS)/.19
• (ANF)/.77
• (ASO)/1.40
• (BURL)/1.50
• (DG)/2.61
• (DLTR)/1.02
• (FRO)/-.11
• (HAIN)/.39
• (SJM)/1.88
• (SAFM)/6.50
• (TITN)/.44
• (TD)/1.92
  

After the Close:

• (DELL)/2.04 
• (GPS)/.46
• (HPQ)/.84
• (MRVL)/.31
• (OLLI)/.55
• (PTON)/-.34
• (VMW)/1.64
• (WDAY)/.77
  

Economic Releases

8:30 am EST

• Initial Jobless Claims for last week are estimated to rise to 350K versus 348K the prior week.
• Continuing Claims are estimated to fall to 2764K versus 2820K prior. 
• 2Q GDP revisions.
  

11:00 am EST

• Kansas City Fed Manufacturing Activity Index for Aug. is estimated to fall to 25 versus 30 in July.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone Consumer Confidence report, 7Y T-Note auction, weekly Langer Consumer Comfort Index and the weekly EIA natural gas inventory report could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are slightly higher, boosted by technology 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 100% net long heading into the day.