Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 138.0 +10.0 basis points. 

• China Sovereign CDS 76.0 +1.75 basis points.
  

• Bloomberg Emerging Markets Currency Index 48.3 -.06%.  
• Bloomberg Global Risk-On/Risk Off Index 45.2 +1.2%. 
• Bloomberg US Financial Conditions Index -.81 -1.0 basis point
  
• Volatility Index(VIX) futures 26.3 -1.0%
• Euro Stoxx 50 futures n/a.

• S&P 500 futures +.32%.

• NASDAQ 100 futures +.41%  

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• (APOG)/.83
  

After the Close:

• (SFIX)
  

Economic Releases

8:30 am EST

• Housing Starts for Aug. is estimated to rise to 1450K versus 1446K in July.
• Building Permits for Aug. is estimated to fall to 1608K versus 1674K in July.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone PPI report, 20Y T-Bond auction, weekly US retail sales reports, Wells Fargo Consumer Conference, (BXP) investor conference, (CRWD) investor briefing, (TA) investor day, (RGEN) investor day and the (IRM) investor event could also impact global trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST
  

BOTTOM LINE: Asian indices are modestly higher, boosted by commodity and utility shares in the region. I expect US stocks to open modestly modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.