Earnings of Note
Company/Estimate
None of note.
Splits
None of note.
Economic Data
None of note.
Recommendations
Goldman Sachs reiterated Outperform on BSX, HD and BIIB.
Late-Night News
Asian indices are quietly mixed on strength in Australia and weakness in China. South Korea asked the U.S. to delay its troop reduction on the Korean peninsula by more than a year, the Korea Times newspaper said. Taiwan's AU Optronics, which makes flat-panel displays used in computers and televisions, forecasts flat-panel prices will stabilize after September on rising demand, the Economic Daily News said. A nationwide inventory by the U.S. Dept. of Energy has found that data involving nuclear weapons is missing from a regional office in Albuquerque, New Mexico, the AP reported. Moqtada al-Sadr ordered his militiamen to leave hold shrines in Najaf, Bloomberg reported. U.S. shrimp fishermen need to reduce the number of boats in their fleet and find a new way to market their product to combat falling prices and surging imports, Bloomberg said. California Governor Schwarzenegger reached agreements with five Indian tribes that will expand the gambling industry in the most-populous U.S. state and pave the way for California's first urban casino, Bloomberg reported.
Late-Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated -.03%.
NASDAQ 100 indicated -.22%
BOTTOM LINE: I expect U.S. equities to open modestly lower in the morning on fears of further oil supply disruptions over the weekend. However, stocks should rise later in the day on short-covering and optimism that the big picture in Iraq is improving. The Portfolio is 125% net long heading into tomorrow.
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