Tuesday Watch

Night Trading

• Asian equity indices are -.75% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 150.0 +1.0 basis point.
• Asia Pacific Sovereign CDS Index 125.25 +3.75 basis points.
  
• FTSE-100 futures -.33%.
  
• S&P 500 futures -.19%.
  
• NASDAQ 100 futures -.15%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (CYBX)/.36

Economic Releases
9:00 am EST

• S&P/CS Home Price Composite - 20 YoY for June is estimated to fall -.05% versus a -.66% in May.

10:00 am EST

• Consumer Confidence for August is estimated to rise to 66.0 versus 65.9 in July.
• The Richmond Fed Manufacturing Index for August is estimated to rise to -10.0 versus -17.0 in July.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Spanish Bond auction, Spanish GDP report, EU's Rompuy meeting with Spain's Rajoy, 2Y T-Note auction, weekly retail sales reports, Jefferies Semi/Hardware Summit and the Piper Jaffray Semi Summit could also impact trading today.
  

BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and real estate shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.