Tuesday Watch

Night Trading 

• Asian equity indices are +.5% to +1.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 84.5 +.75 basis point.

• China Sovereign CDS 36.5 -.25 basis point.
  

• Bloomberg Emerging Markets Currency Index 60.40 -.06%.
• Bloomberg Global Risk-On/Risk Off Index 3,217.0 +82.0 points.
• Volatility Index(VIX) futures 20.0 +.42%.
• FTSE 100 futures +.22%.

• S&P 500 futures +.11%.

• NASDAQ 100 futures +.04%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (CGNT)/.15
• (KFY)/.98
• (PLUG)/-.09
  

After the Close:

• None of note
  

Economic Releases

10:00 pm EST

• Existing Home Sales for May is estimated to fall to 5.72M versus 5.85M in April.
• The Richmond Fed Manufacturing Index for June is estimated at 18.0 versus 18.0 in May.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Powell testifying to House, Fed's Daly speaking, German IFO Business Climate Index, weekly US retail sales reports, Jefferies Consumer Conference and the Goldman Leisure/Transport Conference could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are higher, boosted by technology and commodity 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.