Bloomberg:
- Wal-Mart Stores said July sales at its US stores open at least a year are rising within its forecast range as general merchandise outpaced food sales.
- US gas prices slid 1 cent in the past two weeks to an average of $2.30/gallon.
- Lance Armstrong made his final move as a professional cyclist yesterday, stepping onto the winner's podium after his record seventh straight Tour de France victory.
- The death toll in yesterday's homicide bombings in the Egyptian Red Sea resort of Sharm el-Sheikh rose to at least 88 people, two hundred people were wounded.
Wall Street Journal:
- Ford Motor's Hertz, which is planning an IPO, may receive bids from private-equity groups including Carlyle Group and Texas Pacific Group.
New York Times:
- Hewlett-Packard CEO Mark Hurd is under increasing pressure from analysts to academics and others to divide the company in two or sell off units.
- US Democratic Party leaders say that their electoral prospects may be hurt if several labor unions leave the AFL-CIO.
New York Post:
- Cox Communications will meet this week with private equity firms interested in purchasing about $3 billion in subscriber accounts.
Washington Post:
- A highway bill before the US Congress has a potential windfall for data brokers such as Acxiom Corp., ChoicePoint and LexisNexis.
- Medicare often reimburses hospitals and doctors more for poor care and unnecessary tests because it pays for each time a patient is treated.
LA Times:
- President Bush is targeting companies such as Wal-Mart and Microsoft for a coalition to support letting some illegal immigrants already in the US to be legally employed.
San Jose Mercury News:
- California's Silicon Valley added jobs in June for a fifth straight month and may show annual growth by year-end.
Financial Times:
- People's Bank of China Governor Zhou Ziaochuan said the yuan revaluation last week is an "initial" step, fuelling speculation the country will strengthen the currency further.
- Microsoft is using cars and aircraft to travel around US cities and track signals emitted by short-range home and office-based wireless networks to create a ground-based location system and attract more Internet users.
- US retail investors have put more money into international equity funds than in US funds for the first time since 1990, citing Lipper.
Reuters:
- Pakistan pledged more coordination and cooperation with Afghanistan in the war against terrorism.
Daily Telegraph:
- Almost a quarter of British Muslims sympathize with the motives of those who carried out bomb attacks on London this month, citing a survey for the newspaper by YouGov Plc.
Weekend Recommendations
Bulls and Bears:
- Had guests that were positive on FFH, NTRT, BSX, VRNT, CMVT, MKL and mixed on DNA, AAPL, MSTR.
Forbes on Fox:
- Had guests that were positive on IWM, INTC, DQX and mixed on F, RTSX, STO.
Cashin' In:
- Had guests that were positive on CHU and mixed on SHE.
Cavuto on Business:
- Had guests that were positive on BM, IBM, MEE and mixed on PFE, WMT, HPQ.
Barron's:
- Had positive comments on MOT, FMC, LECO, MIL, SYNA, AMSC, WLP and SIRI.
- Had negative comments on IBM.
Goldman Sachs:
- Reiterated Outperform on GE, SLB and OXY.
- Reiterated Underperform on ALB.
Night Trading
Asian indices are +.50% to +.75% on average.
S&P 500 indicated +.16%.
NASDAQ 100 indicated +.22%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/Estimate
ALTR/.18
AXP/.78
CD/.35
HGSI/-.47
LNCR/.46
FLSH/.17
DGX/.72
TXN/.29
Upcoming Splits
None of note
Economic Releases
10:00 am EST
- Existing Home Sales for June are estimated to rise to 7.15M from 7.13M in May.
BOTTOM LINE: Asian Indices are mostly higher on optimism over recent US economic reports. I expect US stocks to open modestly higher after gains in Asia. The Portfolio is 100% net long heading into the week.
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