Monday Watch

Night Trading

• Asian indices are -.50% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 113.25 -2.25 basis points.
• Asia Pacific Sovereign CDS Index 34.0 +.25 basis point.
• Bloomberg Emerging Markets Currency Index 72.12 -.02%.
• S&P 500 futures +.04%.
• NASDAQ 100 futures +.13%.

Morning Preview Links

Earnings of Note

Company/Estimate

• (CAH)/1.20
• (SO)/1.18
• (LL)/-.21
• (LPX)/.36
• (L)/.72
• (D)/1.07
• (DO)/.03
• (WMB)/.17
• (ZBH)/1.79
• (APC)/-.56
• (RAIL)/.15
• (OLN)/.33
• (OHI)/.84
• (PPS)/.81
• (THC)/.17
• (TSO)/1.42
• (VNO)/1.27

Economic Releases
8:30 am EST

• Personal Income for September is estimated to rise +.4% versus a +.2% gain in August.
• Personal Spending for September is estimated to rise +.2% versus a -.1% decline in August. 
• The PCE Core MoM for September is estimated to rise +.1% versus a +.2% gain in August. 

9:45 am EST

• The Chicago Purchasing Manager for October is estimated to fall to 54.0 versus 54.2 in September.

10:30 am EST

• The Dallas Fed Manufacturing Activity Index for October is estimated to rise to 1.8 versus -3.7 in September.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone CPI report, Australia central bank decision, China Manufacturing PMI report, (ASML) investor day and the (SO) financial analysts meeting could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by technology 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 25% net long heading into the week.