Thursday Watch

Night Trading 

• Asian equity indices are -.5% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 72.25 +.5 basis point.

• China Sovereign CDS 51.0 +.75 basis point.

• Bloomberg Emerging Markets Currency Index 66.63 unch.

• S&P 500 futures +.17%.

• NASDAQ 100 futures +.25%.

Morning Preview Links 

Earnings of Note 
Company/Estimate

Before the Open:

• (DLTH)/-.22

After the Close:

• (AVGO)/5.18

Economic Releases
8:30 am EST

• The Import Price Index MoM for May is estimated to fall -.2% versus a +.2% gain in April.
• The Import Price Index ex Petro MoM for May is estimated to fall -.2% versus a -.6% decline in April.
• The Export Price Index MoM for May is estimated to fall -.2% versus a +.2% gain in April.
• Initial Jobless Claims for last week are estimated to fall to 215K versus 218K the prior week.
• Continuing Claims are estimated to fall to 1660K versus 1682K prior.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone CPI report, $16B 30Y T-Note auction, Bloomberg June US Economic Survey, weekly Bloomberg Consumer Comfort Index and the (CPB) investor day could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.