Tuesday Watch

Night Trading 

• Asian equity indices are -.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 80.0 unch. 

• China Sovereign CDS 41.5 -.5 basis point.
  

• Bloomberg Emerging Markets Currency Index 55.51 -.11%. 
• Bloomberg Global Risk-On/Risk Off Index 3,067.0 +36.0 points.
• Volatility Index(VIX) futures 21.1 +.6%.
• Euro Stoxx 50 futures -.05%.

• S&P 500 futures -.05%.

• NASDAQ 100 futures -.05%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• None of note
  

After the Close:

• (CALM)/.29
  

Economic Releases

9:00 am EST

• The FHFA House Price Index MoM for Oct. is estimated to rise +.9% versus a +.9% gain in Sept.
• The S&P CoreLogic CS 20-City MoM for Oct. is estimated to rise +.9% versus a +.96% gain in Sept.
  

10:00 am EST

• The Richmond Fed Manufacturing Index for Dec. is estimated at 11.0 versus 11.0 in Nov.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Japan Construction data report, weekly US retail sales reports and the 5Y T-note auction could also impact global trading today.

US Equity Market Hours

• 9:30 am - 1:00 pm EST
  

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