Tuesday Watch

Night Trading 

• Asian equity indices are -.5% to +1.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 81.25 -6.5 basis points.

• China Sovereign CDS 45.0 -3.25 points.

• Bloomberg Emerging Markets Currency Index 61.99 unch.
• FTSE 100 futures -.02%

• S&P 500 futures -.26%.

• NASDAQ 100 futures -.20%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (BF/B)/.28
• (CONN)/.34
• (GCO)/-2.52
• (HDS)/.55
• (SIG)/-2.66
• (TIF)/-.09

After the Close:

• (AMC)/-1.44
• (CHWY)/-.17
• (FIVE)/-.29
• (GME)/-1.69
• (VRNT)/.68

Economic Releases 
6:00 am EST

• The NFIB Small Business Optimism for May is estimated to rise to 92.5 versus 90.9 in April.
  

10:00 am EST

• The JOLTS Job Openings for April is estimated to fall to 5750 versus 6191 for March.
• Wholesale Trade Sales MoM for April is estimated to fall -2.0% versus -5.2% in March.
  

Upcoming Splits

• None of note

Other Potential Market Movers

• The Eurozone GDP report, China Inflation Data report, OPEC Meeting, US weekly retail sales reports, Wells Fargo Energy Conference, Deutsche Bank Consumer Conference, Goldman Virtual Healthcare Conference, Morgan Stanley Virtual Financials Conference, (LEA) investor day, (SYNA) investor day and the William Blair Growth Stock Conference could also impact trading today.

Market Hours

Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and commodity shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.