Friday Watch

Night Trading 

• Asian equity indices are -1.0% to -.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 78.0 +.75 basis point. 
• Asia Pacific Sovereign CDS Index 13.0 unch.
• Bloomberg Emerging Markets Currency Index 70.88 -.04%.
• FTSE 100 futures -.41%.
• S&P 500 futures -.10%.
• NASDAQ 100 futures -.25%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• None of note

After the Close:

• None of note

Economic Releases

10:00 am EST

• Wholesale Trade Sales MoM for April.
  

Upcoming Splits

• (PFBI) 5-for-4

Other Potential Market Movers

• The China Trade Data report, the Bloomberg June US Economic Survey and the G-7 Meetings could also impact trading today.

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