Tuesday Watch

Night Trading 

• Asian equity indices are +.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 85.0 -3.5 basis points. 

• Asia Pacific Sovereign CDS Index 22.75 +1.0 basis point.

• Bloomberg Emerging Markets Currency Index 73.69 +.06%.

• S&P 500 futures +.38%.

• NASDAQ 100 futures +.55%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (AAP)/1.66

• (COH)/.49

• (DKS)/1.00

• (HD)/2.22

• (TJX)/.84

• (A)/.52

• (JKHY)/.83

• (URBN)/.36

Economic Releases 

8:30 am EST

• The Import Price Index MoM for July is estimated to rise +.1% versus a -.2% decline in June. 

• The Export Price Index MoM for July is estimated to rise +.2% versus a -.2% decline in June.

• The Empire Manufacturing Index for August is estimated to rise to 10.0 versus 9.8 in July. 

• Retail Sales Advance MoM for July are estimated to rise +.3% versus a -.2% decline in June.

• Retail Sales Ex Autos MoM for July are estimated to rise +.3% versus a -.2% decline in June.

• Retail Sales Ex Autos and Gas for July are estimated to rise +.4% versus a -.1% decline in June.

10:00 am EST

• The NAHB Housing Market Index for August is estimated at 64.0 versus 64.0 in July.

• Business Inventories for June are estimated to rise +.4% versus a +.3% gain in May.

4:00 pm EST

• Total Net TIC Flows for June.
  

Upcoming Splits

• (TAL) 6-for-1

Other Potential Market Movers

• The Eurozone GDP report, UK PPI report, weekly US retail sales reports, Wedbush PacGrow Healthcare Conference and the DA Davidson Tech Forum could also impact trading today.

BOTTOM LINE:  Asian indices are higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.