Thursday Watch

Night Trading 

• Asian equity indices are unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 77.25 unch.

• China Sovereign CDS 48.25 -3.0 basis points.

• Bloomberg Emerging Markets Currency Index 59.37 +.05%.
• Bloomberg Global Risk-On/Risk Off Index 146.0 -18.0 points.
• Volatility Index(VIX) futures 32.45 -1.29%
• FTSE 100 futures +.29%.

• S&P 500 futures +.41%.

• NASDAQ 100 futures +.41%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (BBBY)/-.29
• (CAG)/.57
• (STZ)/2.51
• (PEP)/1.49
  

After the Close:

• None of note
  

Economic Releases

7:30 am EST

• Challenger Job Cuts YoY for Sept.
  

8:30 am EST

• Initial Jobless Claims for last week are estimated to fall to 850K versus 870K the prior week.
• Continuing Claims are estimated to fall to 12200K versus 12580K the prior week.
• Personal Income for Aug. is estimated to fall -2.5% versus a +.4% gain in July.
• Personal Spending for Aug. is estimated to rise +.8% versus a +1.9% gain in July.
• The PCE Core MoM for Aug. is estimated to rise +.3% versus a +.3% gain in July.
  

10:00 am EST

• Construction Spending MoM for Aug. is estimated to rise +.7% versus a +.1% gain in July.
• ISM Manufacturing for Sept. is estimated to rise to 56.4 versus a reading of 56.0 in Aug.
• ISM Prices Paid for Sept. is estimated to fall to 58.8 versus 59.5 in Aug. 

Afternoon:

• Wards Total Vehicle Sales for Sept. are estimated to rise to 15.7M versus 15.19M in Aug.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Bowman speaking, Eurozone PMI report, weekly Bloomberg Consumer Comfort Index and the (TWLO) investor day 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 financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finished modestly lower. The Portfolio is 50% net long heading into the day.