Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 73.75 -1.25 basis points.

• China Sovereign CDS 43.75 -.5 basis point.

• Bloomberg Emerging Markets Currency Index 61.33 -.07%.
• FTSE 100 futures +.08%.

• S&P 500 futures -.08%.

• NASDAQ 100 futures -.03%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (AGCO)/.08
• (ALXN)/2.58
• (AMT)/1.94
• (BUD)/.36
• (APTV)/-1.36
• (MT)/-.11
• (AZN)/.92
• (BAX)/.71
• (BC)/.44
• (CG)/.36
• (CI)/5.16
• (CLF)/-.51
• (CMCSA)/.55
• (COP)/-.58
• (DBD)/-.19
• (DNKN)/.49
• (DD)/.58
• (ELAN)/.07
• (LLY)/1.60
• (FLR)/.25
• (FCN)/1.04
• (GNRC)/.88
• (GPC)/.92
• (ICE)/1.04
• (IGT)/-.61
• (IP)/.39
• (K)/.94
• (KHC)/.65
• (MA)/1.18
• (TAP)/.64
• (NEM)/.31
• (NOC)/5.28
• (ODFL)/1.07
• (PBI)/-.01
• (PG)/1.01
• (RCL)/-4.55
• (SWK)/1.28
• (UPS)/1.08
• (VLO)/-1.40
• (YUM)/.54

After the Close:

• (GOOG)/8.25
• (AMZN)/1.62
• (AAPL)/2.07
• (DECK)/-1.13
• (EA)/.79
• (FB)/1.38
• (F)/-1.17
• (GILD)/1.46
• (MGM)/-1.71
• (SHAK)/-.38
• (SPG)/2.23
• (SKYW)/-.21
• (SYK)/.57
• (X)/-2.79
• (XLNX)/.64
• (ZEN)/.10

Economic Releases

8:30 am EST

• Advance 2Q GDP is estimated to fall -34.5% versus a -5.0% decline in 1Q.
• Advance 2Q Personal Consumption is estimated to fall -34.5% versus a -6.8% decline in 1Q.
• Advance 2Q GDP Price Index is estimated unch. versus a +1.4% gain in 1Q.
• Advance 2Q Core PCE QoQ is estimated to fall -.9% versus a +1.7% gain in 1Q.
• Initial Jobless Claims for last week are estimated to rise to 1430K versus 1416K the prior week.
• Continuing Claims are estimated to rise to 16250K versus 16197K prior.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The German GDP report, weekly Bloomberg Consumer Comfort Index and the weekly EIA natural gas inventory report could also impact trading today.

Market Hours

Normal:

• 9:30 am - 4:00 pm EST
  

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