Tuesday Watch

Night Trading

• Asian equity indices are +.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 99.5 -1.25 basis points.

• Asia Pacific Sovereign CDS Index 73.50 -2.0 basis points.

• FTSE-100 futures +.04%.

• S&P 500 futures -.11%.

• NASDAQ 100 futures  -.08%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (WAG)/.94

• (APOG)/.26

• (CCL)/.02

Economic Releases
9:00 am EST

• The FHFA House Price Index for April is estimated to rise +.5% versus a +.7% gain in March.

10:00 am EST

• Consumer Confidence for June is estimated to rise to 83.5 versus 83.0 in May.

• The Richmond Fed Manufacturing Index for June is estimated at 7.0 versus 7.0 in May.

• New Home Sales for May are estimated to rise to 439K versus 433K in April.
  

Upcoming Splits

• (CELG) 2-for-1

• (CORE) 2-for-1

• (MIDD) 3-for-1

Other Potential Market Movers

• The Fed's Plosser speaking, Fed's Dudley speaking, Fed's Williams speaking, $25B 2Y Treasury auction, US weekly retail sales reports, (NTAP) analyst day and the (DHR) analyst event could impact trading today.

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.