Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 107.75 +.25 basis point. 

• China Sovereign CDS 61.0 -.75 basis point.
  

• Bloomberg Emerging Markets Currency Index 52.29 +.03%. 
• Bloomberg Global Risk-On/Risk Off Index 4,137.0 -69.0 points.
• Volatility Index(VIX) futures 24.4 +.35%.
• Euro Stoxx 50 futures +.05%.

• S&P 500 futures -.14%.

• NASDAQ 100 futures -.26%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• None of note
  

After the Close:

• None of note
  

Economic Releases

10:00 am EST

• Pending Home Sales MoM for Feb. is estimated to rise +1.0% versus a -5.7% decline in Jan. 
• Final Univ. of Michigan Consumer Sentiment readings.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Williams speaking, Fed's Daly speaking, Fed's Waller speaking, UK retail sales report and the (CHS) investor day could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.