Thursday Watch

Night Trading 

• Asian equity indices are unch. to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 111.5 -1.5 basis points. 

• China Sovereign CDS  69.75 -1.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 53.27 -.10%. 
• Bloomberg Global Risk-On/Risk Off Index 4,820.0 +40.0 points.
• Volatility Index(VIX) futures 23.0 -.18%.
• Euro Stoxx 50 futures +.1%.

• S&P 500 futures +.4%.

• NASDAQ 100 futures +.6%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ABB)/.33
• (ALK)/-1.51
• (AAL)/-2.41
• (T)/.78
• (AN)/5.25
• (BX)/1.10
• (DHR)/2.66
• (DOW)/2.05
• (FCX)/.89
• (GPC)/1.68
• (HTLD)/.19
• (HRI)/1.96
• (KEY)/.49
• (NUE)/7.32
• (PM)/1.49
• (POOL)/3.09
• (DGX)/3.00
• (SNA)/3.66
• (TSCO)/1.42
• (UNP)/2.57
  

After the Close:

• (SAM)/1.70
• (FE)/.61
• (ISRG)/1.08
• (PPG)/1.11
• (SNAP)/.01
• (SIVB)/5.58
  

Economic Releases

8:30 am EST

• Philly Fed Business Outlook Index for April is estimated to fall to 21.7 versus 27.4 in March.
• Initial Jobless Claims for last week are estimated to fall to 180K versus 185K the prior week.
• Continuing Claims are estimated to fall to 1459K versus 1475K prior.
  

10:00 am EST

• The Leading Index for March is estimated to rise +.3% versus a +.3% gain in Feb.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Powell speaking, Fed's Bullard speaking, Japan CPI report, weekly EIA natural gas inventory report and the (SCHW) spring update 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 consumer and industrial 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.