Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 96.5 +3.25 basis points. 

• China Sovereign CDS 53.0 +1.5 basis points.
  

• Bloomberg Emerging Markets Currency Index 54.39 -.03%. 
• Bloomberg Global Risk-On/Risk Off Index 3,717.0 +41.0 points.
• Volatility Index(VIX) futures 24.4 -.84%.
• Euro Stoxx 50 futures +.02%.

• S&P 500 futures +.04%.

• NASDAQ 100 futures +.10%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (AGCO)/1.76
• (BP)/.20
• (CNHI)/.21
• (DD)/1.00
• (IT)/2.42
• (HOG)/-.33
• (LEA)/1.13
• (PFE)/.87
• (SYY)/.70
• (VSH)/.62
  

After the Close:

• (CMG)/5.29
• (JKHY)/1.12
• (NCR)/.70
• (PTON)/-.92
• (QGEN)/.60
• (STE)/1.96
• (WYNN)/-1.25
• (XPO)/.98
• (YUMC)/.23
  

Economic Releases

6:00 am EST

• The NFIB Small Business Optimism Index for Jan. is estimated to fall to 97.5 versus 98.9 in Dec.
  

8:30 am EST

• The Trade Deficit for Dec. is estimated to widen to -$83.0B versus -$80.2B in Nov.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Japan Machine Sales report, 3Y T-Note auction, weekly US retail sales reports, (SNV) investor day and the (F) discussion of 4Q results with BofA could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity 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.