Night Trading

• Asian equity indices are unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 125.0 -.25 basis points.

• Asia Pacific Sovereign CDS Index 86.0 -1.25 basis points.

• FTSE-100 futures +.15%.

• S&P 500 futures +.01%.

• NASDAQ 100 futures  +.08%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (PCP)/3.20
• (HAIN)/.86
• (REGN)/2.27
• (ICE)/2.61
• (DF)/.00
• (CBS).74
• (LPX)/-.06
• (DISH)/.43
• (CVC)/.05
• (WEN)/.05
• (CECO)/-.39
• (PCLN)/6.90
• (APA)/1.60
• (CSC)/1.04
• (SYMC)/.42
• (NWSA)/.43
• (JAZZ)/1.87
• (MNST)/.49
• (JOE)/-.01
• (ANDE)/1.03

Economic Releases
8:30 am EST

• Initial Jobless Claims are estimated to fall to 325K versus 344K the prior week.
• Continuing Claims are estimated to fall to 2758K versus 2771K prior. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Yellen speaking, Fed's Plosser speaking, Fed's Evans speaking, Fed's Bullard speaking, Fed's Taruillo speaking, ECB rate decision, BoE decision, ECB's Draghi speaking, China CPI/Trade Balance, $16B 30Y bond auction, Bloomberg US Economic Survey for May, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, (THC) annual meeting and the (BSX) investor day could impact trading today.

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