Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 84.5 +2.0 basis points.

• China Sovereign CDS 48.0 +1.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 58.28 -.02%. 
• Bloomberg Global Risk-On/Risk Off Index 3,493.0 -44.0 points.
• Volatility Index(VIX) futures 19.1 +2.0%.
• FTSE 100 futures +.15%.

• S&P 500 futures -.23%

• NASDAQ 100 futures -.54%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (AXP)/1.75
• (ALV)/.89
• (CLF)/2.23
• (GNTX)/.37
• (HCA)/4.01
• (HON)/2.00
• (RF)/.53
• (SLB)/.36
• (STX)/2.21
• (VFC)/1.16
  

After the Close:

• None of note
  

Economic Releases

9:45 am EST

• Markit US Manufacturing PMI for Oct. is estimated to fall to 60.5 versus 60.7 in Sept. 
• Markit US Services PMI for Oct. is estimated to rise to 55.2 versus 54.9 in Sept.
• The Monthly Budget Deficit for Sept. is estimated at -$59.0B versus -$124.6B in Aug.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Powell speaking and the UK Retail Sales report could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

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