Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 132.50 -1.5 basis points. 

• China Sovereign CDS 69.75 +1.0 basis point.
  

• Bloomberg Emerging Markets Currency Index 48.5 -.01%.  
• Bloomberg Global Risk-On/Risk Off Index 45.9 +2.8%. 
• Bloomberg US Financial Conditions Index -.32 -2.0 basis points
  
• Volatility Index(VIX) futures 25.7 -.2%
• Euro Stoxx 50 futures n/a.

• S&P 500 futures +.11%.

• NASDAQ 100 futures +.24%  

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ABM)/.90
• (KR)/.82
  

After the Close:

• None of note
  

Economic Releases

9:00 am EST

• Bloomberg Sept. US Economic Survey.
  

10:00 am EST

• Wholesale Trade Sales MoM for July is estimated to rise +.8% versus a +1.8% gain in June.

12:00 pm EST

• Household Change in Net Worth for 2Q.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Waller speaking, UK Industrial Production report and the (TPR) investor day 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 healthcare and financial 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.