Friday Watch

Night Trading 

• Asian equity indices are -.25% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 77.5 -.25 basis point. 
• Asia Pacific Sovereign CDS Index 13.0 -.25 basis point.
• Bloomberg Emerging Markets Currency Index 74.94 -.02%.
• FTSE 100 futures -.62%.
• S&P 500 futures -1.04%.
• NASDAQ 100 futures -1.15%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (GBX)/.97

Economic Releases

8:30 am EST

• The Change in Non-Farm Payrolls for March is estimated to fall to 185K versus 313K in February. 
• The Unemployment Rate is estimated to fall to 4.0% versus 4.1% in February.
• Average Hourly Earnings MoM for March are estimated to rise +.3% versus a +.1% gain in February.
  

3:00 pm EST

• Consumer Credit for February is estimated to rise to $15.5B versus $13.91B in January.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Powell speaking and the German Industrial Production report could also impact trading today.

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