Tuesday Watch

Night Trading 

• Asian equity indices are -1.0% to -.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 85.50 +.5 basis point. 

• China Sovereign CDS 59.50 +.5 basis point.

• Bloomberg Emerging Markets Currency Index 68.0 -.04%.

• FTSE 100 futures +.06%.

• S&P 500 futures -.39%.

• NASDAQ 100 futures -.49%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (MMM)/2.28

• (ALV)/1.72

• (BIIB)/6.72

• (EAT)/.90

• (CIT)/1.11

• (GLW)/.58

• (DHR)/1.27

• (HOG)/.30

• (HCA)/2.58

• (KNX)/.92

• (LLL)/2.68

• (LMT)/4.41

• (NUE)/1.94

• (PCAR)/1.53

• (PFE)/.63

• (PII)/1.82

• (PHM)/1.10

• (SAP)/1.55

• (VZ)/1.08

After the Close:

• (AMD)/.09

• (AAPL)/4.17

• (CHRW)/1.21

• (COHR)/2.07

• (EBAY)/.68

• (ILMN)/1.36

• (KLAC)/2.21

• (MXIM)/.62

• (MSTR)/1.01

• (RHI)/.91

• (SYK)/2.15

Economic Releases

9:00 am EST

• The S&P CoreLogic CS 20-City YoY for November is estimated to rise +4.88% versus a +5.03% in October.
  

10:00 am EST

• The Conference Board Consumer Confidence Index for January is estimated to fall to 124.0 versus 128.1 in Dec.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Brexit amendment vote, Japan retail sales report, $32B 7Y T-Note auction and the weekly US retail sales reports could also impact trading today.

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