Monday Watch

Night Trading

• Asian indices are -.25% to +.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 70.25 -.5 basis point.
• China Sovereign CDS 40.25 +.5 basis point.
• Bloomberg Emerging Markets Currency Index 58.64 -.05%.
• Bloomberg Global Risk-On/Risk Off Index -500.0 +19.0 points.
• Volatility Index(VIX) futures 33.70 -1.1%. 
• Euro Stoxx 50 futures unch.
• S&P 500 futures +.10%.
• NASDAQ 100 futures +.02%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (CWH)/1.17
• (CLX)/2.22
• (EL)/.90
• (J)/1.32
• (JLL)/1.25
• (LL)/.22
• (LITE)/1.47
• (WING)/.34
  

After the Close:

• (ADTN)/.07
• (CRUS)/.89
• (FN)/.98
• (IR)/.31
• (JAZZ)/4.08
• (MDLZ)/.62
• (MOS)/.17
• (PYPL)/.94
• (SWKS)/1.52
• (STE)/1.27
• (TREX)/.38
• (VNO)/.94
• (WMB)/.26
  

Economic Releases

10:00 am EST

• The ISM Manufacturing Index for Oct. is estimated to rise to 55.8 versus 55.4 in Sept.
• ISM New Orders for Oct. is estimated to rise to 62.0 versus 60.2 in Sept. 
• ISM Prices Paid for Oct. is estimated to fall to 60.5 versus 62.8 in Sept.
• Construction Spending MoM for Sept. is estimated to rise +1.0% versus +1.4% in Aug.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone PMI report and the RBA Minutes could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial 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 week.