Monday, February 21, 2011

Tuesday Watch


Night Trading

  • Asian indices are -.75% to -2.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 111.50 +6.0 basis points.
  • Asia Pacific Sovereign CDS Index 119.0 +1.0 basis point.
  • S&P 500 futures -1.07%.
  • NASDAQ 100 futures -1.37%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (EXPD)/.44
  • (RRD)/.47
  • (VFC)/1.65
  • (ODP)/-.03
  • (HD)/.31
  • (MHS)/.94
  • (HRL)/.43
  • (WMT)/1.31
  • (MDT)/.83
  • (M)/1.52
  • (HPQ)/1.29
  • (MHK)/.57
  • (CHK)/.64
  • (HTZ)/.07
  • (NRG)/.41
  • (GPC)/.70
Economic Releases
9:00 am EST
  • The S&P/CS Composite-20 YoY for December is estimated to fall -2.4% versus a -1.59% decline in November.
10:00 am EST
  • Consumer Confidence for February is estimated to rise to 65.0 versus a reading of 60.6 in January.
Upcoming Splits
  • (NATI) 3-for-2
  • (WLL) 2-for-1
Other Potential Market Movers
  • The Fed's Kocherlakota speaking, $32 Billion 3 Month and $30
    Billion 6-Month Treasury Bills Auctions, $35 Billion 2-Year Treasury Notes Auction, Richmond Fed Manufacturing Index, (SLB) Investor Conference and the EnerCom Oil and Services Conference could also impact trading today.
BOTTOM LINE: Asian indices are lower, weighed down by construction and airline shares in the region. I expect US stocks to open lower and to maintain losses into the afternoon. The Portfolio is 75% net long heading into the week.

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