Tuesday Watch

Night Trading 

• Asian equity indices are -.25% to unch. on average.

• Asia Ex-Japan Investment Grade CDS Index 90.0 +.75 basis point. 

• China Sovereign CDS 63.5 +.25 basis point.

• Bloomberg Emerging Markets Currency Index 67.97 +.07%.

• FTSE 100 futures -.96%.

• S&P 500 futures +.04%.

• NASDAQ 100 futures +.02%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (DAL)/1.28

• (JPM)/2.19

• (SNV)/.93

• (UNH)/3.22

• (WFC)/1.18

After the Close:

• (PNFP)/1.23

• (UAL)/1.99

Economic Releases

8:30 am EST

• Empire Manufacturing for Jan. is estimated to fall to 10.0 versus 10.9 in Dec.

• PPI Final Demand MoM for Dec. is estimated to fall -.1% versus a +.1% gain in Nov.

• PPI Ex Food and Energy MoM for Dec. is estimated to rise +.2% versus a +.3% gain in Nov.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The UK Brexit vote, Eurozone GDP report, weekly US retail sales reports, Deutsche Bank Auto Conference and the Needham Growth Conference could also impact trading today.

BOTTOM LINE:  Asian indices are slightly lower, weighed down by technology and healthcare shares in the region. I expect US stocks to open modestly lower and to strengthen into the afternoon, finishing modestly higher.  The Portfolio is 75% net long heading into the day.