Monday Watch

Night Trading

• Asian indices are -2.0% to -1.0% on average.
• Asia Ex-Japan Investment Grade CDS Index 64.75 +3.0 basis points.
• China Sovereign CDS 50.0 +4.0 basis points.
• Bloomberg Emerging Markets Currency Index 66.27 -.28%.
• FTSE 100 futures -.93%.
• S&P 500 futures -.72%.
• NASDAQ 100 futures -.94%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (CARS)/.43
• (DO)/-.88
• (JEC)/1.24
• (L)/.75
• (SOHU)/-1.15

After the Close:

• (CAR)/.73
• (CZR)/-.05
• (KLAC)/1.75
• (MAR)/1.56
• (SHAK)/.23
• (TTWO)/.04
• (THC)/.44

Economic Releases

10:00 am EST

• The ISM Non-Manufacturing Index for July is estimated to rise to 55.5 versus 55.1 in June.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The China Services/Manufacturing PMI reports and the Commerce Dept. Hearing for $21B in EU tariffs 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 lower and to maintain losses into the afternoon.  The Portfolio is 25% net long heading into the week.