Earnings of Note
Company/Estimate
A/.27
ADI/.45
AEOS/.38
BEAS/.07
DELL/.31
KSS/.44
TGT/.47
TIF/.29
URBN/.22
WMT/.60
WTW/.49
Splits
None of note.
Economic Data
Import Price Index for July estimated +.4% versus -.2% in June.
Advance Retail Sales for July estimated +1.2% versus -1.1% in June.
Retail Sales Less Autos for July estimated +.4% versus -.2% in June.
Initial Jobless Claims for last week estimated at 340K versus 336K prior week.
Continuing Claims estimated at 2895K versus 2911K prior.
Business Inventories for June estimated +.6% versus +.4% in May.
Release of minutes from June 30 FOMC meeting.
Recommendations
Goldman Sachs reiterated their Attractive view of Paper sector, favorites are IP, DTC and SPP. Goldman reiterated Outperform on BSX and MDT.
Late-Night News
Asian indices are mixed on strength in Korea and weakness in China. Television Broadcasts Ltd., Hong Kong's biggest broadcaster, said it expects by month's end to sign an agreement with China that will give it legal access to the mainland, the South China Morning Post reported. U.S. coal prices have risen following growth in demand and declining domestic production, the Financial Times reported. Human trials of a pill that could prevent transmission of the HIV virus are in jeopardy after some prostitutes in Cambodia refused to take part because of the terms of the trials, the Wall Street Journal reported. Hurricane Charley rolled toward the southwestern coast of Florida and Tropical Storm Bonnie aimed to hit the Panhandle by morning, prompting Florida's governor to issue a statewide emergency, Bloomberg reported. Dan Benton's Andor Capital Management LLC, the eighth-biggest hedge fund at the end of 2003, lost almost half its assets in July, people familiar with the New York-based fund said.
Late-Night Trading
Asian Indices are -.75% to +.50% on average.
S&P 500 indicated +.02%.
NASDAQ 100 indicated +.04%
BOTTOM LINE: I expect U.S. equities to open modestly higher in the morning on better economic data and a follow-through from today's afternoon rally. The Portfolio is 75% net long heading into tomorrow.
No comments:
Post a Comment