Thursday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 82.5 -1.25 basis points.

• China Sovereign CDS 46.75 -.25 basis point.
  

• Bloomberg Emerging Markets Currency Index 58.83 -.01%. 
• Bloomberg Global Risk-On/Risk Off Index 3,623.0 +1.0 point.
• Volatility Index(VIX) futures 19.4 +.4%.
• FTSE 100 futures n/a.

• S&P 500 futures -.12%

• NASDAQ 100 futures -.22%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ALK)/1.32
• (AAL)/-1.03
• (T)/.80
• (AN)/4.20
• (BX)/.91
• (CROX)/1.86
• (DHR)/2.15
• (DOW)/2.55
• (FCX)/.81
• (GPC)/1.63
• (KEY)/.57
• (MMC)/1.00
• (NUE)/7.42
• (NVR)/88.77
• (POOL)/3.87
• (DGX)/3.06
• (SNA)/3.37
• (LUV)/-.27
• (TSCO)/1.66
• (TPH)/.89
• (UNP)/2.50
• (VLO)/.94
  

After the Close:

• (OZK)/.96
• (BJRI)/.12
• (SAM)/4.20
• (CSL)/2.75
• (CMG)/6.32
• (INTC)/1.11
• (MAT)/.72
• (OLN)/1.96
• (PSMT)/.73
• (RHI)/1.40
• (SNAP)/.08
• (WHR)/6.18
  

Economic Releases

8:30 am EST

• Initial Jobless Claims for last week are estimated to rise to 297K versus 293K the prior week.
• Continuing Claims are estimated to fall to 2548K versus 2593K prior.
• Philly Fed Business Outlook Index for Oct. is estimated to fall to 25.0 versus 30.7 in Sept.
  

10:00 am EST

• The Leading Index for Sept. is estimated to rise +.4% versus a +.9% gain in Aug.
• Existing Home Sales for Sept. is estimated to rise to 6.09M versus 5.88M in Aug.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Waller speaking, Eurozone PMI report, weekly EIA natural gas inventory report and the (SCHW) business update could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

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