Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 149.25 +2.25 basis points. 

• China Sovereign CDS 82.0 +.25 basis point.
  

• Bloomberg Emerging Markets Currency Index 48.49 -.11%.  
• Bloomberg Global Risk-On/Risk Off Index 4,312.0 +66.0 points.
• Volatility Index(VIX) futures 28.1 -.25%.
• Euro Stoxx 50 futures n/a.

• S&P 500 futures +.12%.

• NASDAQ 100 futures +.08%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (ANGO)/.01
  

After the Close:

• None of note
  

Economic Releases

8:30 am EST:

• The NFIB Small Business Optimism Index for June is estimated to fall to 92.5 versus 93.1 in May.
  

Upcoming Splits

• (GOOG) 20-for-1
  

Other Potential Market Movers

• The UK GDP report, weekly US retail sales reports, 10Y T-Note auction, SEMICON West and the (AMZN) Prime Day could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.