Monday Watch

Night Trading

• Asian indices are unch. to +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 85.0 -2.75 basis points.
• China Sovereign CDS 36.5 -1.0 basis point.
• Bloomberg Emerging Markets Currency Index 61.65 -.01%.
• Bloomberg Global Risk-On/Risk Off Index 3,514.0 -6.0 points.
• Volatility Index(VIX) futures 20.5 +.79%. 
• Euro Stoxx 50 futures n/a.
• S&P 500 futures -.10%.
• NASDAQ 100 futures -.12%

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (GIII)/.15
  

After the Close:

• (COUP)/-.19
• (HQY)/.32
• (LMNX)/.20
• (MRVL)/.27
• (SFIX)/-.26
• (MTN)/6.56
  

Economic Releases

3:00 pm EST

• Consumer Credit for April is estimated at $22.0B versus $25.841B in March.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The German Factory Orders report, Deutsche Bank Consumer Conference, (AAPL) WWDC, Evercore ISI Tech/Media/Telecom Conference, (REGN) oncology portfolio update, (MRK) oncology event and the Goldman Sachs Travel/Leisure Conference could also impact trading today.

US Equity Market Hours

• 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 modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the week.