Tuesday Watch

Night Trading 

• Asian equity indices are +.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 60.0 +.25 basis point.

• China Sovereign CDS 32.5 +1.75 basis points.

• Bloomberg Emerging Markets Currency Index 61.0 -.02%.
• Bloomberg Global Risk-On/Risk Off Index 1,218.0 +36.0 points.
• Volatility Index(VIX) futures 24.70 +.71%
• FTSE 100 futures -.31%.

• S&P 500 futures -.16%.

• NASDAQ 100 futures +.28%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ARMK)/-.34
• (HD)/3.02
• (JKS)/.85
• (KSS)/-.44
• (LM)/.85
• (SE)/-.55
• (WMT)/1.19
  

After the Close:

• (LZB)/.47
  

Economic Releases

8:30 am EST

• Retail Sales Advance MoM for Oct. is estimated to rise +.5% versus a +1.9% gain in Sept.
• Retail Sales Ex Autos MoM for Oct. is estimated to rise +.6% versus a +1.5% gain in Sept.
• Retail Sales Ex Autos and Gas MoM for Oct. is estimated to rise +.6% versus a +1.5% gain in Sept.
• The Import Price Index MoM for Oct. is estimated unch. versus a .3% gain in Sept.
• The Export Price Index MoM for Oct. is estimated to rise +.2% versus a +.6% gain in Sept.
  

9:15 am EST

• Industrial Production MoM for Oct. is estimated to rise +1.0% versus a -.6% decline in Sept.
• Capacity Utilization for Oct. is estimated to rise to 72.3% versus 71.5% in Sept.
• Manufacturing Production for Oct. is estimated to rise +1.0% versus a -.3% decline in Sept.
  

10:00 am EST

• Business Inventories for Sept. is estimated to rise +.6% versus a +.3% gain in Aug.
• The NAHB Housing Market Index for Nov. is estimated at 85.0 versus 85.0 in Oct.

4:00 pm EST

• Net Long-Term TIC Flows for Sept.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Japan Trade Data report, Wolfe Healthcare Conference, Jefferies Healthcare Conference, Scotiabank Transport/Industrials Conference, RBC Tech/Internet/Media/Telecom Conference and the (ROK) investor meeting could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity 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 day.