Tuesday Watch

Night Trading 

• Asian equity indices are +.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 64.50 -2.0 basis points. 

• China Sovereign CDS 44.5 -2.25 basis points.

• Bloomberg Emerging Markets Currency Index 67.95 unch.

• FTSE 100 futures +.85%.

• S&P 500 futures -.02%.

• NASDAQ 100 futures -.04%.

Morning Preview Links

Earnings of Note
Company/Estimate

Before the Open:

• (DSW)/.05
• (HDS)/.67
• (MIK)/1.42

After the Close:

• (AIR)/.71
• (FDX)/3.12
• (SCS)/.26

Economic Releases
10:00 am EST

• Factory Orders for Jan. are estimated to rise +.3% versus a +.1% gain in Dec.

Upcoming Splits

• None of note

Other Potential Market Movers

• The German ZEW Index, Australian Home Price report, weekly US retail sales reports, Oppenheimer Healthcare Conference, (DSW) Investor Day, (HUM) Investor Day, (NVDA) Investor Day and the (JPM) Business Update call could also impact trading today.

BOTTOM LINE:  Asian indices are mostly higher, boosted by financial 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 100% net long heading into the day.