Earnings of Note
None of note.
2Q Current Account Balance estimated at -$153.3B versus -$144.9B prior.
Advance Retail Sales for August estimated -.1% versus a .7% rise in July.
Retail Sales Less Autos for August estimated to rise .2% versus a .2% increase in July.
Goldman Sachs reiterated Outperform on FD, GILD, BBY and EBAY. Goldman reiterated Underperform on SGP, KZL and LSI.
Asian indices are mostly higher on gains in technology stocks in the region. AES Corp., General Electric and American International Group may bid for InterGen's power plants should the venture decide to sell assets, the Australian Financial Review said. Samsung next year will boost its rivalry with Taiwan Semiconductor Manufacturing by adding new production capacity, the Commercial Times reported. Aluminum Corp. of China, parent of China's largest aluminum maker, may buy an 87% stake in copper producer Daye Nonferrous, Sing Tao Daily reported. Cardinal Health said it will restate at least three years of financial results and delay its report for the fiscal quarter by an additional 15 days, Bloomberg reported. MGM agreed in principle to be bought by an investor group led by Sony Corp. for $12 per share, or about $2.9 billion, plus assumed debt, Bloomberg said. Hurricane Ivan skirted the western tip of Cuba this evening on a track that will bring it ashore in the southeastern U.S. as early as Wednesday morning, Bloomberg said.
Asian Indices are unch. to +.50% on average.
S&P 500 indicated -.04%.
NASDAQ 100 indicated -.07%
BOTTOM LINE: I expect U.S. equities to open modestly higher on stabilizing energy prices, gains in Asia and short-covering. However, shares may trade mixed-to-weaker later in the day on profit-taking as the broad market works off its overbought condition. The Portfolio is 75% net long heading into tomorrow.