Thursday Watch

Night Trading 

• Asian equity indices are -.75% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 69.75 -.5 basis point. 

• China Sovereign CDS 49.75 +.25 basis point.

• Bloomberg Emerging Markets Currency Index 68.38 -.06%.

• FTSE 100 futures -.74%.

• S&P 500 futures -.13%.

• NASDAQ 100 futures -.15%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (ABB)/.33
• (BUD)/.96
• (CARS)/.57
• (FSS)/.31
• (FRO)/.18
• (ICPT)/-2.49
• (JCP)/.18
• (PRTY)/1.09
• (PDCO)/.38
• (BID)/1.48
• (JD)/-.27

After the Close:

• (DDD)/.07
• (ALRM)/.24
• (ADSK)/.42
• (DELL)/1.85
• (GPS)/.69
• (MAR)/1.40
• (JWN)/1.42
• (NTNX)/-.25
• (SPLK)/.76
• (SRCL)/.95
• (VMW)/1.88
• (WDAY)/.32
• (ZS)/-.01

Economic Releases
8:30 am EST

• Initial Jobless Claims for last week are estimated to rise to 220K versus 216K the prior week.
• Continuing Claims are estimated to rise to 1737K versus 1725K prior 
• Advance 4Q GDP QoQ is estimated to rise +2.2% versus a +3.4% gain in 3Q.
• Advance 4Q Personal Consumption is estimated to rise +3.0% versus a +3.5% gain in 3Q.
• Advance 4Q GDP Price Index is estimated to rise +1.7% versus a +1.8% gain in 3Q.
• Advance 4Q Core PCE QoQ is estimated to rise +1.6% versus a +1.6% gain in 3Q.

9:45 am EST

• Chicago Purchasing Manager for February is estimated to rise to 57.5 versus 56.7 in January.

11:00 am EST

• The Kansas City Fed Manufacturing Index for Feb. is estimated to rise to 6.0 versus 5.0 in January.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone CPI report, China Manufacturing PMI report, Japan Unemployment Rate/CPI reports, weekly Bloomberg Consumer Comfort Index, weekly EIA natural gas inventory report, Keefe Bruyette Woods Cards/Payments/Financial Tech symposium,  (CR) investor day, (WAT) investor day and the (PGR) 4Q Investor Event could also impact trading today.

BOTTOM LINE:  Asian indices are mostly lower, weighed down by consumer 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.