Tuesday Watch

Night Trading 

• Asian equity indices are unch. to +.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 97.0 +10.75 basis points. (new series)
• Asia Pacific Sovereign CDS Index 20.5 -5.75 basis points.
• Bloomberg Emerging Markets Currency Index 72.28 unch. 
• S&P 500 futures +.16%. 
• NASDAQ 100 futures +.20%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (GIS)/.71
• (LE)/.35
• (LEN)/.55
• (FDX)/2.62
• (NKE)/.53
• (SCS)/.23

Economic Releases

8:30 am EST 

• The 4Q Current Account Balance is estimated to widen to -$129.0B versus -$113.0B in 3Q. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Rosengren speaking, Fed's George speaking, Fed's Mester speaking, UK PPI report, Japan Trade Balance report, US weekly retail sales reports, (MAR) analyst meeting, (MDRX) investor day, Oppenheimer Healthcare Conference, Morgan Stanley Financials Conference and the BofA Merrill Industrials 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 mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 75% net long heading into the day.