Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 90.0 +.75 basis point.

• China Sovereign CDS 51.5 +.25 basis point.
  

• Bloomberg Emerging Markets Currency Index 58.69 -.01%. 
• Bloomberg Global Risk-On/Risk Off Index 2,978.0 +2.0 points.
• Volatility Index(VIX) futures 22.60 -.2%.
• FTSE 100 futures n/a.

• S&P 500 futures +.25%

• NASDAQ 100 futures +.30%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (CAG)/.49
• (HELE)/2.25
  

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 348K versus 362K the prior week.
• Continuing Claims are estimated to fall to 2762K versus 2802K the prior week.
  

3:00 pm EST

• Consumer Credit for Aug. is estimated to rise to $17.5B versus $17.0B in July.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone Industrial Production report, weekly EIA natural gas inventory report, (LDOS) investor day and the (VMW) analyst meeting 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 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.