Friday Watch

Night Trading

• Asian equity indices are -1.0% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 146.0 +4.0 basis points.

• Asia Pacific Sovereign CDS Index 113.50 +2.0 basis points.

• FTSE-100 futures +.32%.

• S&P 500 futures +.19%.

• NASDAQ 100 futures +.18%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (BMY)/.43
• (HON)/1.22
• (KSU)/1.10
• (KMB)/1.39
• (PG)/1.20
• (SWK)/1.29
• (STT)/1.20
• (GWW)/2.63

Economic Releases

• None of note

Upcoming Splits

• None of note

Other Potential Market Movers

• The Italian retail sales report could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.