Earnings of Note
Company/Estimate
LWAY/.08
ZOLT/-.23
Splits
None of Note.
Economic Data
PPI for July estimated +.3% versus -.3% in June.
PPI Ex Food & Energy for July estimated +.1% versus +.2% in June.
Trade Balance for June estimated at -$47.0B versus -$46.0B in May.
Preliminary Univ. of Mich. Consumer Confidence for August estimated at 97.2 versus 96.7 in July.
Recommendations
Goldman Sachs reiterated Outperform on MDT, A, GE, CCL, RCL and AMLN. MATK will benefit from the fastest-growing baby-food market, Business Week reported.
Late-Night News
Asian indices are mixed on weakness in Japan and strength in Korea. The U.S. SEC has looked at an interview the co-founders of Google did with Playboy magazine to see whether it violates the quiet period on the stock, the Wall Street Journal reported. Goldman Sachs won final regulatory approval in China to set up a joint venture investment bank, the South China Morning Post reported. Japan's GDP expanded at a less-than-expected 1.7% annual pace in the second quarter, as slowing Chinese growth curtailed exports, Bloomberg said. Moqtada al-Sadar, the Shiite Muslim cleric leading an insurgency in southern Iraqi cities, was wounded in three places during fighting in Najaf, Agence France-Presse reported.
Late-Night Trading
Asian Indices are -1.25% to +.75% on average.
S&P 500 indicated +.09%.
NASDAQ 100 indicated +.27%
BOTTOM LINE: I expect U.S. equities to open modestly higher in the morning on a bounce in the technology sector. However, gains will likely be tempered by terrorism fears ahead of the Olympics. The Portfolio is 25% net long heading into tomorrow.
No comments:
Post a Comment