Tuesday Watch

Night Trading

• Asian indices are -.25% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 84.0 +2.5 basis points.
• Asia Pacific Sovereign CDS Index 10.75 +.25 basis point.
• Bloomberg Emerging Markets Currency Index 65.38 -.03%.
• FTSE 100 futures -.29%
• S&P 500 futures +.07%.
• NASDAQ 100 futures +.06%.

Morning Preview Links

Earnings of Note

Company/Estimate
Before the Open:

• (CASY)/1.65
• (CONN)/.41

After the Close:

• (COUP)/-.09
• (HQY)/.28
• (RH)/1.75
• (WDAY)/.25

Economic Releases

10:00 am EST

• Construction Spending MoM for July is estimated to rise +.5% versus a -1.1% decline in June.
• ISM Manufacturing for August is estimated to fall to 57.7 versus 58.1 in July.
• ISM Prices Paid for August is estimated to fall to 69.5 versus 73.2 in July.

Afternoon

• Wards Total Vehicle Sales for August are estimated to rise to 16.88M versus 16.68M in July.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Evans speaking, Supreme Court Confirmation Hearings, Eurozone PPI report, Barclays Consumer Staples Conference and the HC Wainwright Investment Conference could also impact trading today.

BOTTOM LINE: Asian indices are slightly lower, weighed down by consumer and metal/mining shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the week.