Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 87.25 +1.25 basis points.

• China Sovereign CDS 45.25 +1.0 basis point.
  

• Bloomberg Emerging Markets Currency Index 59.09 unch.
• Bloomberg Global Risk-On/Risk Off Index 3,118.0 -48.0 points.
• Volatility Index(VIX) futures 20.4 +1.2%.
• FTSE 100 futures +.%.

• S&P 500 futures -.05%

• NASDAQ 100 futures -.14%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (FDS)/2.73
• (THO)/2.86
• (UNFI)/.80
  

After the Close:

• (CALM)/-.62
• (CMTL)/.49
• (MU)/2.34
  

Economic Releases

8:30 am EST

• The Advance Goods Trade Balance report for Aug. is estimated to widen to -$87.3B versus -$86.4B in July.
• Wholesales Inventories MoM for Aug. is estimated to rise +.8% versus a +.6% gain in July.
• Retail Inventories MoM for Aug. is estimated to rise +.4% versus a +.4% gain in July.
  

9:00 am EST

• The FHFA House Price Index MoM for July is estimated to rise +1.5% versus a +1.6% gain in June.
• The S&P CoreLogic CS 20-City MoM for July is estimated to rise +1.7% versus a +1.77% gain in June.
  

10:00 am EST

• The Conference Board Consumer Confidence Index for Sept. is estimated to rise to 115.0 versus 113.8 in Aug.
• The Richmond Fed Manufacturing Index for Sept. is estimated to rise to 115.0 versus 113.8 in Aug.
  

Upcoming Splits

• (INMD) 2-for-1
  

Other Potential Market Movers

• The Fed's Powell/Treasury Secretary Yellen's testimony to Senate, Fed's Bowman speaking, German Consumer Confidence reading, 7Y T-Note auction, weekly US retail sales reports, (AMZN) product event and the (HAIN) investor day could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are slightly lower, weighed down by technology and healthcare shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.