Tuesday Watch

Night Trading 

• Asian equity indices are -.5% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 85.5 +2.25 basis points.

• China Sovereign CDS 38.25 +2.25 basis points.

• Bloomberg Emerging Markets Currency Index 60.88 -.04%.
• Bloomberg Global Risk-On/Risk Off Index 3,104.0 -2.0 points.
• Volatility Index(VIX) futures 20.2 -.3%.
• FTSE 100 futures -.2%.

• S&P 500 futures +.05%.

• NASDAQ 100 futures +.06%.

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (MMM)/2.29
• (ABB)/.28
• (ADM)/1.02
• (AWI).90
• (BP)/.07
• (GLW)/.43
• (LLY)/2.16
• (GE)/.01
• (HAS)/.67
• (JBLU)/-1.72
• (PCAR)/1.31
• (PII)/1.53
• (PHM)/1.22
• (RTX)/.73
• (SHW)/1.63
• (UPS)/1.72
  

After the Close:

• (AMD)/.44
• (GOOG)/15.64
• (AMGN)/4.06
• (BXP)/1.56
• (BYD)/.41
• (CHRW)/.99
• (COF)/3.77
• (CB)/2.88
• (FFIV)/2.39
• (ILMN)/1.25
• (JNPR)/.25
• (MANH)/.32
• (MXIM)/.74
• (MSFT)/1.77
• (MDLZ)/.70
• (NCR)/.47
• (OLN)/1.21
• (PINS)/.07
• (SBUX).52
• (SYK)/1.98
• (TER)/1.05
• (TXN)/1.60
• (V)/1.26
• (YUMC)/.46
  

Economic Releases

9:00 am EST

• The FHFA House Price Index MoM for Feb. is estimated to rise +1.0% versus a +1.0% gain in Jan.
• The S&P CoreLogic CS 20-City MoM for Feb. is estimated to rise +1.1% versus a +1.2% gain in Jan.
  

10:00 am EST

• The Conference Board Consumer Confidence Index for April is estimated to rise to 113.0 versus 109.7 in March. 
• The Richmond Fed Manufacturing Index for April is estimated to rise to 22.0 versus 17.0 in March.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Australia Inflation Data report, $62B 7Y T-Note auction and the weekly US retail sales reports could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and financial 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.