Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 92.75 +25.25 basis points.

• China Sovereign CDS 49.0 +12.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 59.50 +.02%.
• Bloomberg Global Risk-On/Risk Off Index 2,471.0 unch.
• Volatility Index(VIX) futures 24.4 -.26%.
• FTSE 100 futures n/a.

• S&P 500 futures +.06%

• NASDAQ 100 futures +.02%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (APOG)/.54
• (AZO)/29.88
• (CBRL)/2.35
• (NEOG)/.16

After the Close:

• (ADBE)/3.02
• (FDX)/4.93
• (SFIX)/-.12
  

Economic Releases

8:30 am EST

• Housing Starts for Aug. is estimated to rise to 1550K versus 1534K in July.
• Building Permits for Aug. is estimated to fall to 1600K versus 1635K in July.
• The Current Account Balance for 2Q is estimated at -$191.0B versus -$195.7B in 1Q.
  

Upcoming Splits

• (RJF) 3-for-2
  

Other Potential Market Movers

• The BoJ Interest Rate Decision, 20Y T-Bond auction, weekly US retail sales reports, (BIIB) investor day, Evercore ISI Autotech/AI Forum and the BofA Industrial Software/Automation Summit and the (WDAY) analyst day could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are lower, weighed down by commodity and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.