Earnings Announcements
Company/Estimate
ABX/.08
CHINA/.03
NANO/-.15
DP/.51
Splits
None of note
Economic Data
University of Michigan Consumer Confidence is expected to come in at 103.0 versus 103.8 last month. The U.S. Trade Deficit is expected to come in at $40B versus $38B last month.
Late-night News
Rumors are swirling on the net about the possibility of a scandal involving Senator Kerry and an intern. Time, ABC news, the Washington Post and the AP are supposedly working on this story. Sources seem to believe this is why Dean decided to continue and has intensified his attacks on Kerry in recent days. It appears there is something to these rumors, as Tradesports.com is seeing a lot of activity on Kerry and Edwards. Kerry's chances of winning the Democratic nomination have dropped 17% to 81%, while Edwards chances of winning have climbed 14% to 19%. China's inflation rate held steady last month at 3.2%, near a 7-yr. high. Chartered Semi., Singapore's largest chip maker, said it sees strengthening demand through 05. Financial Times is reporting that attacks by insurgents in Iraq more than doubled in January. Business Week is reporting that Bank America may be acquired by a foreign concern.
Late-Night Trading
Asian markets are mostly higher, ranging from -.6% to +1.8%.
S&P 500 indicated +.12%.
NASDAQ indicated +.23%.
BOTTOM LINE: Seems as though tomorrow should be positive with the Biotech and Technology sectors leading the way. Asian markets are looking pretty good. As I stated in the previous post, I will closely monitor tomorrow's opening action. My short-term trading indicators are near sell signals, thus any unexpected morning weakness will lead me to a more conservative stance in the Portfolio.
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