Monday Watch

Night Trading

• Asian indices are -.50% to +.50% on average.
• Asia Ex-Japan Investment Grade CDS Index 72.75 -.75 basis point.
• China Sovereign CDS 42.75 -1.0 basis point.
• Bloomberg Emerging Markets Currency Index 61.05 -.07%.
• FTSE 100 futures -.30%.
• S&P 500 futures +.05%.
• NASDAQ 100 futures +.30%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (CLX)/1.85
• (SNA)/.36
• (DISH)/.57
• (EME)/.91
• (GPN)/1.20
• (CLI)/.30
• (MCK)/2.36
• (TSN)/.90
  

After the Close:

• (AIG)/.53
• (CHGG)/.32
• (CRUS)/.30
• (DLB)/.27
• (H)/-1.41
• (IR)/.20
• (ITRI)/-.20
• (KLAC)/2.43
• (MOS)/-.01
• (RMBS)/.25
• (RNG)/.20
• (SBAC)/1.84
• (STE)/.98
• (TTWO)/1.60
• (THC)/-.71
• (TXRH)/-.62
• (TREX)/.65
• (VNO)/.91
• (WMB)/.24
  

Economic Releases
10:00 am EST

• ISM Manufacturing for July is estimated to rise to 53.6 versus 52.6 in June.
• ISM New Orders for July is estimated to fall to 55.2 versus 56.4 in June.
• ISM Prices Paid for July is estimated to rise to 52.0 versus 51.3 in June.
• Construction Spending MoM for June is estimated to rise +1.0% versus a -2.1% decline prior.
  

Afternoon

• Wards Total Vehicle Sales for July is estimated to rise to 14.0M versus 13.05M in June.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone PMI report could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are mostly lower, weighed down 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 week.