Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 98.0 -4.75 basis points. 

• China Sovereign CDS 57.75 -4.5 basis points.
  

• Bloomberg Emerging Markets Currency Index 53.78 -.02%. 
• Bloomberg Global Risk-On/Risk Off Index 4,335.0 -43.0 points.
• Volatility Index(VIX) futures 23.3 +.7%.
• Euro Stoxx 50 futures -.05%.

• S&P 500 futures -.14%.

• NASDAQ 100 futures -.11%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (AYI)/2.37
• (LNN)/1.20
  

After the Close:

• (ARRY)/-.03
• (SGH)/.72
  

Economic Releases

8:30 am EST

• The Trade Balance for February is estimated at -$88.5B versus -$89.7B in Jan.
  

10:00 am EST

• The ISM Services Index for March is estimated to rise to 58.5 versus 56.5 in Feb.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Williams speaking, Fed's Daly speaking, Fed's Brainard speaking, Eurozone PMI report, RBA rate decision, weekly US retail sales reports, (ADI) investor day, (PWR) investor day, (AUY) analyst day and the (FDS) investor day 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 technology and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.