Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 85.5 -.25 basis point. 

• Asia Pacific Sovereign CDS Index 17.75 unch.

• Bloomberg Emerging Markets Currency Index 73.26 +.04%.

• S&P 500 futures +.11%.

• NASDAQ 100 futures +.14%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (JW/A)/.54

• (HRB)/3.53

Economic Releases 

6:00 am EST

• The NFIB Small Business Optimism Index for May is estimated at 104.5 versus 104.5 in April.
  

8:30 am EST

• PPI Final Demand MoM for May is estimated unch. versus a +.5% gain in April.

• PPI Ex Food & Energy MoM for May is estimated to rise +.1% versus a +.4% gain in April.

Upcoming Splits

• None of note

Other Potential Market Movers

• The Fed's Dudley speaking, AG Jeff Sessions testimony to Senate Intel Committee, Senate Health Committee Hearing on drug costs, UK CPI report, German Zew Index, $12B 30Y T-Bond auction, weekly US retail sales reports, RBC Mining/Materials Conference, Piper Jaffray Consumer Conference, Deutsche Bank Consumer Conference, Goldman Sachs Healthcare Conference, Citi Industrials Conference and the Morgan Stanley Financials Conference could also impact trading today.

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