Wednesday Watch

Night Trading 

• Asian equity indices are -1.75% to -.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 58.75 +.5 basis point.

• China Sovereign CDS 36.75 +1.75 basis points.

• Bloomberg Emerging Markets Currency Index 60.20 -.05%.
• Bloomberg Global Risk-On/Risk Off Index -77.0 +10.0 points.
• Volatility Index(VIX) futures 35.1 +1.4%
• FTSE 100 futures -.7%.

• S&P 500 futures -.37%.

• NASDAQ 100 futures -.14%.

Morning Preview Links

Earnings of Note 
Company/Estimate

Before the Open:

• (AEO)/-.18
• (GIII)/-.64
• (HDS)/.72
• (NAV)/-.18

After the Close:

• (AVAV)/.39
• (GME)/-1.14
• (FIZZ)/.96
• (RH)/3.33
• (VRNT)/.69
• (ZS)/.03
  

Economic Releases

10:00 am EST:

• JOLTS Job Openings for July are estimated to rise to 6000 versus 5889 in June.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Bank of Canada rate decision, 10Y T-Note auction, weekly MBA Mortgage Applications report, Raymond James Bank Conference, Credit Suisse Steel/Mining Conference, Keefe Bruyette Woods Insurance Conference, Baird Healthcare Conference, UBS Chemicals Conference, Wells Fargo Healthcare Conference, Cowen Transport/Sustainable Mobility Conference, DA Davidson Software/Internet Conference, Goldman Retailing Conference, Barrington Fall Investment Conference and the BofA Media/Communications/Entertainment Conference could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are lower, weighed down by technology and commodity shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.