Monday Watch

Night Trading

• Asian indices are -.75% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 81.0 +4.25 basis points.
• China Sovereign CDS 61.25 +4.25 basis points.
• Bloomberg Emerging Markets Currency Index 65.98 +.14%.
• FTSE 100 futures -.46%.
• S&P 500 futures -.57%.
• NASDAQ 100 futures -.78%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (BOX)/-.05
• (COUP)/-.04

After the Close:

• None of note

Economic Releases
10:00 am EST

• The ISM Manufacturing Index for May is estimated to rise to 53.0 versus 52.8 in April.
• The ISM Prices Paid Index for May is estimated to rise to 51.0 versus 50.0 in April.
• Construction Spending MoM for April is estimated to rise +.5% versus a -.9% decline in March.

Afternoon

• Wards Total Vehicle Sales for May is estimated to rise to 16.8M versus 16.4M in April.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The President's visit to the UK, Fed's Bullard speaking, China Manufacturing PMI report, Eurozone PMI report, Goldman Lodging/Gaming/Restaurant/Leisure Conference, (AAPL) WWDC 2019 and the BIO International Convention could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open lower and to maintain losses into the afternoon.  The Portfolio is 25% net long heading into the week.