Tuesday Watch

Night Trading 

• Asian equity indices are -2.0% to -1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 129.5 +2.75 basis points. 

• China Sovereign CDS  87.0 +3.25 basis points.
  

• Bloomberg Emerging Markets Currency Index 51.8 -.08%. 
• Bloomberg Global Risk-On/Risk Off Index 3,769.0 +3.0 points.
• Volatility Index(VIX) futures 32.9 -.67%.
• Euro Stoxx 50 futures n/a.

• S&P 500 futures +.29%.

• NASDAQ 100 futures +.35%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (BCO)/.94
• (CHH)/.89
• (CTXS)/1.22
• (DBD)/-.21
• (EBIX)/.52
• (FOXA)/.88
• (H)/-.42
• (IGT)/.32
• (NCLH)/-1.41
• (PTON)/-.94
• (WB)/.46
  

After the Close:

• (BIRD)/-.12
• (BOOT)/1.31
• (COIN)/.86
• (EA)/1.43
• (HRB)/3.81
• (OXY)/2.03
• (RBLX)/-.21
• (TTD)/.14
• (U)/-.08
• (WYNN)/-1.15

Economic Releases

6:00 am EST

• The NFIB Small Business Optimism Index for April is estimated to fall to 92.9 versus 93.2 in March.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The German ZEW Index, 3Y T-Note auction, weekly US retail sales reports, Goldman Industrials/Materials Conference, Citi Energy/Utilities/Tech Conference, (DISH) analyst day, (MGA) business update, (WDC) investor day, the (FTNT) analyst day and the (MDLZ) investor update 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 technology and commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 25% net long heading into the day.