Friday Watch

Night Trading 

• Asian equity indices are -1.75% to -.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 95.0 +1.0 basis point. 

• China Sovereign CDS 54.0 +3.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 54.70 -.09%. 
• Bloomberg Global Risk-On/Risk Off Index 3,795.0 -5.0 points.
• Volatility Index(VIX) futures 24.9 +1.3%.
• Euro Stoxx 50 futures -1.3%.

• S&P 500 futures -.48%.

• NASDAQ 100 futures -.42%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (AB)/1.00
• (AXL)/.03
• (CERN)/.88
• (CLF)/2.03
• (D)/.91
• (GT)/.43
• (MGA)/.87
• (NWL)/.32
• (UAA)/.07
  

After the Close:

• None of note
  

Economic Releases

10:00 am EST

• The Univ. of Mich. Consumer Sentiment Index for Feb. is estimated to fall to 67.0 versus 67.2 in Jan. 
• Univ. of Mich. 1Y Inflation Expectations for Feb. estimated at +5.0% versus +4.9% in Jan. 
• PPI revisions. 
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Swiss CPI report, Bloomberg Feb. US Economic Survey and the (GDDY) investor day could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are lower, weighed down by consumer and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.