Tuesday Watch

Night Trading 

• Asian equity indices are -.75% to -.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 85.75 +4.75 basis points. 

• Asia Pacific Sovereign CDS Index 14.0 +.25 basis point.

• Bloomberg Emerging Markets Currency Index 69.86 -.02%.

• FTSE 100 futures +.17%.

• S&P 500 futures +.06%.

• NASDAQ 100 futures -.11%.

Morning Preview Links

Earnings of Note
Company/Estimate
Before the Open:

• (FDS)/2.13

• (JKS)/.23

• (LEN)/.44

• (SCHN)/1.18

After the Close:

• (AVAV)/.52

• (SONC)/.49

Economic Releases

9:00 am EST

• S&P CoreLogic CS 20-City MoM for April is estimated to rise +.4% versus a +.53% gain in March.

10:00 am EST

• The Richmond Fed Manufacturing Index for June is estimated to fall to 15.0 versus 16.0 in May. 

• Consumer Confidence for June is estimated at 128.0 versus 128.0 in May.
  

Upcoming Splits

• (HEI) 5-for-4

Other Potential Market Movers

• The Fed's Kaplan speaking, $34B 2Y T-Note auction, Eurozone 10Y Bond auction, weekly US retail sales reports and the (AKAM) analyst day could also impact trading today.

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