Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 67.5 +.75 basis point.

• China Sovereign CDS 34.5 +1.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 59.91 -.04%.
• Bloomberg Global Risk-On/Risk Off Index 2,901.0 -111.0 points.
• Volatility Index(VIX) futures 20.8 +1.1%.
• FTSE 100 futures unch.

• S&P 500 futures -.16%

• NASDAQ 100 futures -.20%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (MANU)/-.16
  

After the Close:

• None of note
  

Economic Releases

10:00 am EST

• Univ. of Mich. Consumer Confidence for Sept. is estimated to rise to 72.0 versus 70.3 in Aug.
  

Upcoming Splits

• (RJF) 3-for-2
  

Other Potential Market Movers

• The Eurozone CPI report, FDA meeting on booster shots and the (MOH) investor day could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are modestly lower, weighed down by commodity 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 75% net long heading into the day.