Wednesday Watch

Night Trading 

• Asian equity indices are +.25% to +.75% on average.

• Asia Ex-Japan Investment Grade CDS Index 83.75 -1.5 basis points.

• China Sovereign CDS 47.0 -.75 basis point.
  

• Bloomberg Emerging Markets Currency Index 58.69 unch. 
• Bloomberg Global Risk-On/Risk Off Index 3,604.0 +1.0 point.
• Volatility Index(VIX) futures 19.6 +.4%.
• FTSE 100 futures +.13%.

• S&P 500 futures +.03%

• NASDAQ 100 futures -.07%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ABT)/.94
• (ANTM)/6.37
• (ASML)/3.97
• (BKR)/.21
• (BIIB)/4.11
• (CP)/.94
• (CMA)/1.64
• (KNX)/1.07
• (LAD)/0.28
• (MTB)/3.49
• (NEE)/.72
• (VZ)/1.36
• (WGO)/2.05
  

After the Close:

• (CCI)/1.71
• (CSX)/.38
• (DFS)/3.38
• (GGG)/.63
• (IBM)/2.52
• (KMI)/.25
• (LRCX)/8.20
• (LSTR)2.53
• (LVS)/-.23
• (THC)/.98
• (TSLA)/1.57
• (VMI)/2.47
  

Economic Releases

2:00 pm EST

• US Fed's Beige Book report.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Quarles speaking, PBOC rate decision, 20Y T-Bond auction, weekly MBA Mortgage Applications report, (HPQ) analyst meeting, (EAT) investor day and the (RIO) investor seminar could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are higher, boosted by commodity and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.