Friday Watch

Night Trading 

• Asian equity indices are +.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 87.0 -3.0 basis points.

• China Sovereign CDS 48.75 -2.75 basis points.
  

• Bloomberg Emerging Markets Currency Index 58.74 -.03%. 
• Bloomberg Global Risk-On/Risk Off Index 2,920.0 -202.0 points.
• Volatility Index(VIX) futures 22.2 +.5%.
• FTSE 100 futures -.21%.

• S&P 500 futures +.06%

• NASDAQ 100 futures +.13%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• None of note
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST

• The Change in Non-Farm Payrolls for Sept. is estimated at 500K versus 235K in Aug.
• The Unemployment Rate for Sept. is estimated to fall to 5.1% versus 5.2% in Aug.
• Average Hourly Earnings MoM for Sept. is estimated to rise +.4% versus a +.6% gain in Aug.
  

10:00 am EST

• Wholesale Trade Sales MoM for Aug. is estimated to rise +.9% versus a +2.0% gain in July.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The European Trade Data report could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.