Monday Watch

Night Trading

• Asian indices are -.75% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 91.50 +.5 basis point.

• Asia Pacific Sovereign CDS Index 64.25 +.75 basis point.

• FTSE-100 futures -.27%.

• S&P 500 futures -.35%.

• NASDAQ 100 futures -.36%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (ALOG)/1.11

Economic Releases
8:30 am EST

• Empire Manufacturing for September is estimated to rise to 16.0 versus 14.69 in August.

9:15 am EST

• Industrial Production for August is estimated to rise +.3% versus a +.4% gain in July.
• Capacity Utilization for August is estimated to rise to 79.3% versus 79.2% in July.
• Manufacturing Production for August is estimated to rise +.2% versus a +1.0% gain in July.
  

Upcoming Splits

• (CYT) 2-for-1

Other Potential Market Movers

• The Eurozone Trade Balance, RBA Minutes and the Morgan Stanely Industrials/Autos Conference could also impact trading today.

BOTTOM LINE: Asian indices are lower, weighed down by commodity and industrial shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the week.