Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 86.5 -4.25 basis points.

• China Sovereign CDS 39.75 -3.5 basis points.

• Bloomberg Emerging Markets Currency Index 61.04 -.01%.
• Bloomberg Global Risk-On/Risk Off Index 3,228.0 -8.0 points.
• Volatility Index(VIX) futures 20.40 +.52%.
• FTSE 100 futures -.01%.

• S&P 500 futures -.06%.

• NASDAQ 100 futures -.11%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ALLY)/1.08
• (BK)/.86
• (KSU)/1.96
• (MS)/1.58
• (PNC)/2.72
• (STT)/1.35
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST

• Housing Starts for March is estimated to rise to 1611K versus 1421K in Feb.
• Building Permits for March is estimated to rise to 1750K versus 1682K in Feb.
  

10:00 am EST 

• Univ. of Mich. Consumer Confidence for April is estimated to rise to 89.0 versus 84.9 in March.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone CPI report and the (RXT) business update could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.