Tuesday Watch

Night Trading 

• Asian equity indices are -.25% to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 77.25 + basis points.

• China Sovereign CDS 49.25 + basis points.

• Bloomberg Emerging Markets Currency Index 59.41 .
• Bloomberg Global Risk-On/Risk Off Index -31.0 - points.
• Volatility Index(VIX) futures 31.95 -.%
• FTSE 100 futures +.24%.

• S&P 500 futures +.23%.

• NASDAQ 100 futures +.27%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (ANGO)/-.07
• (INFO)/.69
• (MKC)/1.52
  

After the Close:

• (CMTL)/.06
• (HTZ)/-3.48
• (MU)/.94
• (PRGS)/.77
• (SNX)/2.26
  

Economic Releases

8:30 am EST

• Advance Goods Trade Balance report for August is estimated at -$81.7B versus -$79.2B in July.
• Wholesale Inventories MoM for Aug. is estimated to fall -.1% versus a -.3% decline in July.
• Retail Inventories MoM for Aug. is estimated to rise +1.1% versus a +1.2% gain in July.
  

9:00 am EST

• S&P CoreLogic CS 20-City MoM for July is estimated to rise +.1% versus unch. in June.

10:00 am EST

• The Conference Board Consumer Confidence Index for Sept. is estimated to rise to 90.0 versus 84.8 in Aug.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Quarles speaking, Fed's Clarida speaking, US weekly retail sales reports, Eurozone inflation data report and the China Manufacturing PMI report could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

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