Tuesday Watch

Evening Headlines

Bloomberg:

• Boris Johnson Hit by Lockdown Revolt From More Than 50 Tories.
• South Korea Rebounds From Recession as Exports Jump.  
• Lira’s New Low Underscores Central Bank’s Credibility Challenge.
• Asian Stocks Track U.S. Lower as Virus Spreads: Markets Wrap.  
• Oil Steady Near Three-Week Low With Bearish Headwinds Mounting.
• Surprise Strength, Climate’s Costs, Impossible Trinity: Eco Day.
• Five Things You Need to Know to Start Your Day.
• Pelosi, Mnuchin Fail to Reach Deal on Stimulus in Monday Call.
• Senate Confirms Amy Coney Barrett to U.S. Supreme Court.
• Las Vegas Sands Exploring $6 Billion Sale of Vegas Casinos.
  
• U.S. Trial of Lilly Antibody Therapy to End; No Safety Issue.

Wall Street Journal:

• Barrett Is Confirmed to Supreme Court.
• Justice Barrett Joins the Court.
• Saving Private Biden.
• Can Gap Escape the Whirlwind? New CEO Confronts Years of Decline.
• China to Sanction U.S. Arms Makers Over Sales to Taiwan.
• Ant to Raise More Than $34 Billion in Record IPO.
• Hospital Merger Seeks to Create Regional Giant in the West.
• China Is Far Behind on U.S. Purchases Under Trade Deal.
• A Trump Election Comeback? With These Pieces, It’s Still Possible.

Fox News:

• Senate confirms ACB as an associate justice on the nation's highest court.
  

CNBC.com:

• Charles Schwab to lay off 1,000 workers following merger with TD Ameritrade.
• Stimulus deal before Election Day looks less likely as Pelosi pushes Mnuchin over virus testing.
• Stocks making the biggest moves after hours: Twilio, Chegg, AIG and more.
  

MarketWatch.com:        

• Spain’s weary population may be a test for how many COVID-19 restrictions a population can take, says prominent epidemiologist.
• China’s Appetite for Meat Is Still Growing.

Zero Hedge:

• 'You'll Bury Everyone Involved': Bobulinski Recorded Biden Operatives Begging Him To Stay Quiet, Set To Release Tues.
• "Can I Change My Vote": Voter's Remorse Sets In As Searches For Do-Over Spike.
• CDC Reaffirms Warning Against Nonessential Travel, Including Cruises.
• One Client Responds To "Vain, Narcissistic" CEO Of Expensify After Unsolicited Political Email.
• Are We Going To Witness The Worst National Emotional Breakdown In History Once The Election Is Over?
• How Traders Are Responding To Today's VIX Surge And Put/Call Spike.
• Iconic Barbershop In NYC's East Village Closes After 73 Years In Business Due To COVID.
• Wells Fargo Is Selling Its $10 Billion Student Loan Book.
• Stock Reactions To Q3 Earnings "Smack Of The Tech Bubble".
• Creditors Finally Wake Up To An Apocalyptic Reality: Bond Losses As High As 99%.
• How Decades Of Media And Faculty Bias Have Pushed America To The Left.
• Stimulus Stalemate & SAP Slam Stocks, Hopes Crushed On COVID Chaos, Cresting 'Blue Wave'.

The Epoch Times:

• Chinese Regime Retaliates Against Six US Media Outlets, Requiring Reports on Operations.
• Biden Says He Will Collaborate With China If Elected.
  

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading 

• Asian equity indices are -1.25% to -.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 66.0 +.5 basis point.

• China Sovereign CDS 38.5 +1.5 basis points.

• Bloomberg Emerging Markets Currency Index 59.51 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 68.0 +6.0 points.
• Volatility Index(VIX) futures 28.85 +.19%
• FTSE 100 futures +.26%.

• S&P 500 futures +.27%.

• NASDAQ 100 futures +.26%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Economic Releases

8:30 am EST

• Durable Goods Orders for Sept. is estimated to rise +.5% versus a +.5% gain in Aug.
• Durables Ex Transports for Sept. is estimated to rise +.3% versus a +.6% gain in Aug.
• Cap Goods Orders Non-Defense Ex-Air for Sept. is estimated to rise +.5% versus a +1.9% gain in Aug.
  

9:00 am EST

• The FHFA House Price Index MoM for Aug. is estimated to rise +.7% versus a +1.0% gain in July.
• The S&P CoreLogic CS 20-City MoM for Aug. is estimated to rise +.5% versus a +.55% gain in July.
  

10:00 am EST

• The Conference Board Consumer Confidence Index for Oct. is estimated to rise to 102.0 versus 101.8 in Sept.
• The Richmond Fed Manufacturing Index for Oct. is estimated to fall to 18.0 versus 21.0 in Sept.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Australian inflation report, Mexico Trade Balance report, 2Y T-Note auction and the weekly US retail sales reports could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

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