Wednesday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 98.0 -3.25 basis points.
• Asia Pacific Sovereign CDS Index 26.25 -.5 basis point.
• Bloomberg Emerging Markets Currency Index 71.46 +.05%. 
• S&P 500 futures +.02%. 
• NASDAQ 100 futures +.06%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (CHS)/.04
• (DISH)/.67
• (EV)/.57
• (MBLY)/.20
• (TJX)/1.00
• (TOL)/.35
• (UTHR)/3.86
• (WLH)/.67
• (WWW)/.31
• (CAKE)/.67
• (CTRP)/.14
• (ETE)/.29
• (HPQ)/.37
• (JACK)/1.25
• (LB)/1.90
• (NBR)/-.33
• (SINA)/.54
• (TSLA)/-.54
• (RIG)/.06
• (WB)/.28

Economic Releases

10:00 am EST

• Existing Home Sales for January are estimated to rise to 5.55M versus 5.49M in December. 
  

2:00 pm EST

• The FOMC Meeting Minutes for Feb. 1.

Upcoming Splits

• None of note

Other Potential Market Movers

• The German IFO Index, Eurozone CPI report, $34B 5Y T-Note auction, weekly MBA mortgage applications report, weekly US retail sales reports, RBC Healthcare conference and the Barclays Industrial conference could also 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 modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.