Friday Watch

Night Trading 

• Asian equity indices are -1.0% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 99.25 +2.25 basis points. 

• China Sovereign CDS 54.0 +2.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 54.77 +.08%. 
• Bloomberg Global Risk-On/Risk Off Index 3,182.0 +9.0 points.
• Volatility Index(VIX) futures 27.2 -1.5%.
• Euro Stoxx 50 futures -.61%.

• S&P 500 futures +.39%.

• NASDAQ 100 futures +.45%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (B)/.46
• (BLMN)/.52
• (DE)/2.26
• (DKNG)/-.81
• (PPL)/.32
• (RRD)/.59
  

After the Close:

• None of note
  

Economic Releases

10:00 am EST

• Existing Home Sales for Jan. is estimated to fall to 6.1M versus 6.18M in Dec.
• The Leading Index for Jan. is estimated to rise +.2% versus a +.8% gain in Dec.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Brainard speaking, Fed's Waller speaking, Government funding deadline, Eurozone Construction Output and the (MAT) analyst 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 financial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.