Wednesday Watch

Night Trading

• Asian equity indices are unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 94.50 -3.0 basis points.

• Asia Pacific Sovereign CDS Index 63.75 -1.75 basis points.

• FTSE-100 futures +.26%.

• S&P 500 futures +.12%.

• NASDAQ 100 futures  +.09%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (TOL)/.45
• (GIII)/.16
• (VNCE)/.24
• (NAV)/-.71
• (SCVL)/.15
• (PVH)/1.43
• (HRB)/-.39
• (CBK)/.04
• (AVAV)/-.10

Economic Releases
10:00 am EST

• Factory Orders for July are estimated to rise +11.0% versus a +1.1% gain in June.

Afternoon:

• Total Vehicle Sales for August are estimated to rise to 16.6M versus 16.4M in July.
  

2:00 pm EST

• Fed's Beige Book.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone Services PMI, Eurozone GDP report, Brazil rate decision, weekly MBA Mortgage Applications report, weekly US retail sales reports, ISM New York for August, Cowen Transport Conference, Keefe Bruyette Insurance conference, Barclays Consumer Conference and Goldman Retailing Conference could also impact trading today.

BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and industrial 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.