Thursday Watch

Night Trading 

• Asian equity indices are +.75% to +1.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 57.75 -.25 basis point.

• China Sovereign CDS 29.25 unch.

• Bloomberg Emerging Markets Currency Index 62.78 -.03%.
• Bloomberg Global Risk-On/Risk Off Index 2,928.0 +126.0 points.
• Volatility Index(VIX) futures 23.95 +.8%.
• FTSE 100 futures +.49%.

• S&P 500 futures +.11%.

• NASDAQ 100 futures +.03%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (AAON)/.29
• (AES)/.44
• (AEP)/.79
• (AMT)/2.13
• (AMWD)/1.63
• (PLAN)/-.10
• (BUD)/1.14
• (BBY)/2.94
• (CARS)/.47
• (CLF)/.28
• (DPZ)/3.59
• (FSS)/.40
• (FCN)/1.17
• (SJM)/2.21
• (MRNA)/-.36
• (NTES)/2.91
• (PZZA)/.48
• (PWR)/.99
• (SAFM)/-.56
• (SWI)/.25
• (TD)/1.47
• (W)/.88
• (WWW)/.17
  

After the Close:

• (ADT)/.31
• (ABNB)/2.78
• (ADSK)/1.07
• (BYND)/-.12
• (CZR)/-1.61
• (CVNA)/-.49
• (DELL)/2.14
• (DASH)/-.31
• (EOG)/.37
• (ETSY)/.69
• (FSLR)/1.07
• (GRPN)/.27
• (HPQ)/.67
• (LYV)/-2.26
• (MTZ)/1.66
• (MNST)/.62
• (NKLA)/-.34
• (RMAX)/.45
• (CRM)/.75
• (SHAK)/-.12
• (SFM)/.38
• (VMW)/2.04
• (WDAY)/.55
• (ZS)/.08
  

Economic Releases

8:30 am EST

• Durable Goods Orders for Jan. is estimated to rise +1.0% versus a +.5% gain in Dec.
• Durables Ex Transports for Jan. is estimated to rise +.7% versus a +1.1% gain in Dec.
• Cap Goods Orders Non-Defense Ex Air for Jan. is estimated to rise +.8% versus a .7% gain in Dec.  
• Initial Jobless Claims for last week are estimated to fall to 825K versus 861K the prior week.
• Continuing Claims are estimated to fall to 4460K versus 4494K prior. 
• 4Q GDP is estimated to rise +4.2% versus a prior estimate of a +4.0% gain.

10:00 am EST

• Pending Home Sales MoM for Jan. is estimated unch. versus a -.3% decline in Dec.

11:00 am EST

• The Kansas City Fed Manufacturing Activity Index for Feb. is estimated to fall to 15.0 versus 17.0 in Jan.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Quarles speaking, German GfK Consumer Confidence, $62B 7Y T-Note auction, weekly Bloomberg Consumer Comfort Index, (TWTR) analyst day, (MLM) investor day, (CR) investor day, (AWK) investor day and the (AKAM) investor summit could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.