Friday Watch

Night Trading 

• Asian equity indices are +.25% to +1.0% on average.
• Asia Ex-Japan Investment Grade CDS Index 147.5 -1.0 basis point. 
• Asia Pacific Sovereign CDS Index 54.50 +.5 basis point.
• Bloomberg Emerging Markets Currency Index 71.40 +.15%. 
• S&P 500 futures +.07%. 
• NASDAQ 100 futures +.17%.

Morning Preview Links

Earnings of Note
Company/Estimate 

• None of note

Economic Releases  
8:30 am EST

• Housing Starts for May are estimated to fall to 1150K versus 1172K in April.
• Building Permits for May are estimated to rise to 1145K versus 1116K in April. 

Upcoming Splits 

• None of note

Other Potential Market Movers

• The Canadian CPI report and (ARIA) analyst day could also impact trading today.

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