Tuesday Watch

Night Trading 

• Asian equity indices are -1.75% to -1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 89.50 +1.0 basis point. 

• China Sovereign CDS 48.25 unch.
  

• Bloomberg Emerging Markets Currency Index 54.12 -.02%. 
• Bloomberg Global Risk-On/Risk Off Index 2,289.0 -480.0 points.
• Volatility Index(VIX) futures 29.2 +4.0%.
• Euro Stoxx 50 futures +.8%.

• S&P 500 futures -1.0%.

• NASDAQ 100 futures -1.35%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (MMM)/2.02
• (AXP)/1.83
• (ADM)/1.36
• (CTXS)/1.07
• (GE)/.82
• (JNJ)/2.12
• (LMT)/7.14
• (PCAR)/1.31
• (PII)/2.03
• (RTX)/1.02
• (VZ)/1.28
  

After the Close:

• (BXP)/1.53
• (CNI)/1.53
• (COF)/5.19
• (FFIV)/2.78
• (MRTN)/.26
• (MSFT)/2.32
• (TXN)/1.96
  

Economic Releases

9:00 am EST

• The FHFA House Price Index MoM for Nov. is estimated to rise +1.0% versus a +1.1% gain in Oct. 
• The S&P CoreLogic CS 20-City MoM for Nov. is estimated to rise +.93% versus a +.92% gain in Oct.
  

10:00 am EST

• The Conference Board Consumer Confidence Index for Jan. is estimated to fall to 111.4 versus 115.8 in Dec.
• The Richmond Fed Manufacturing Index for Jan. is estimated to fall to 14.0 versus 16.0 in Dec.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The German IFO Guidance, weekly US retail sales reports, 5Y T-Note auction and the RW Baird Vehicle Tech/Mobility Conference could also impact global trading today.

US Equity Market Hours

• 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 lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.