Friday Watch

Night Trading 

• Asian equity indices are -.50% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 84.50 unch. 
• Asia Pacific Sovereign CDS Index 21.0 -.25 basis point.
• Bloomberg Emerging Markets Currency Index 73.88 unch.
• S&P 500 futures +.01%.
• NASDAQ 100 futures -.15%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (ALV)/1.49
• (CL)/.72
• (ECA)/.03
• (FITB)/.42
• (GE)/.25
• (GNTX)/.32
• (HON)/1.78
• (KSU)/1.28
• (MCO)/1.33
• (NVR)/28.92
• (RF)/.24
• (SLB)/.30
• (STI)/.98

Economic Releases 

• None of note

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone Manufacturing PMI report and the Canadian inflation data could also impact trading today.

BOTTOM LINE:  Asian indices are mostly lower, weighed down by industrial and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the day.