Monday Watch

Night Trading

• Asian indices are -1.0% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 132.75 +3.75 basis points.
• China Sovereign CDS 76.75 +1.75 basis points.
• China Iron Ore Spot 110.2 USD/Metric Tonne -1.0%
  
• Bloomberg Emerging Markets Currency Index 47.7 +.1%.
• Bloomberg Global Risk-On/Risk Off Index 49.7 +.7%.
• Bloomberg US Financial Conditions Index -.66 -7.0 basis points. 
  
• Volatility Index(VIX) futures 24.5 -.94%. 
• Euro Stoxx 50 futures +.47%.
• S&P 500 futures +.24%.
• NASDAQ 100 futures +.31%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• None of note
  

After the Close:

• (HEI)/.69
• (SCS)/.18
  

Economic Releases 

10:00 Am EST

• The NAHB Housing Market Index for Dec. is estimated to rise to 34.0 versus 33.0 in Nov.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The China Industrial Production report could also impact trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial 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 week.