Friday Watch

Night Trading

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

• Asia Ex-Japan Investment Grade CDS Index 132.0 +.25 basis point.

• Asia Pacific Sovereign CDS Index 107.25 +1.25 basis points. 

• FTSE-100 futures +.03%.

• S&P 500 futures +.22%.

• NASDAQ 100 futures +.42%.

Morning Preview Links

Earnings of Note
Company/Estimate

• None of note

Economic Releases

• None of note

Upcoming Splits

• None of note

Other Potential Market Movers

• The China Manufacturing PMI, Italy/Spain bond auctions and the Eurozone CPI could also impact trading today.

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