Tuesday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 85.0 -3.5 basis points. 
• Asia Pacific Sovereign CDS Index 19.0 -.25 basis point.
• Bloomberg Emerging Markets Currency Index 72.91 -.02%.
• S&P 500 futures +.01%.
• NASDAQ 100 futures +.03%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (DRI)/1.15
• (FDS)/1.84
• (AVAV)/.99
• (CAMP)/.27
• (KBH)/.26

Economic Releases 

9:00 am EST

• The S&P CoreLogic CS 20-City MoM for April is estimated to rise +.45% versus a +.87% gain in March.

10:00 am EST

• The Conference Board Consumer Confidence Index is estimated to fall to 116.0 versus 117.9 in May.
• The Richmond Fed Manufacturing Index for June is estimated to rise to 6.0 versus 1.0 in May.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Yellen speaking, Fed's Kashkari speaking, Fed's Williams speaking, Fed's Harker speaking, German retail sales report, weekly US retail sales reports, $34B 5Y T-Note auction, Macquarie Metals/Mining/Materials Conference, (MA) annual meeting and the (LPX) analyst day could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, weighed down 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.