Bloomberg:
- Hynix Semiconductor, the world's second-largest maker of memory chips, posted a smaller-than-expected drop in profit in the second quarter and forecast prices will rebound.
Wall Street Journal:
- A group of Hollywood movie studios have agreed on technical standards related to making and showing digital films after more than three years of discussions.
NY Times:
- New York Governor George Pataki, a Republican, told aides last night at the governor's mansion that he won't run for a fourth term.
London-based Times:
- Terror suspects who failed to detonate devices on the London transport system on July 21 may be in possession of more explosives and may attempt another assault, citing Scotland Yard sources.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on ENH, GE, DHR, UDR, LRY, X and HMA.
- Reiterated Underperform on CR, SLG and AKS.
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated unch.
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/EPS Estimate
ACL/.94
AGN/.75
AHC/2.95
BUD/.81
BOL/.79
BA/.61
CHIR/.16
CL/.67
CA/.21
COP/2.02
DO/.29
ESRX/.57
HCA/.76
MCK/.53
NEM/.17
PHM/2.09
RCL/.57
FON/.36
SBUX/.30
TK/1.03
ZMH/.75
Upcoming Splits
None of note
Economic Releases
8:30 am EST
- Durable Goods Orders for June are estimated to fall 1.0% versus a 5.5% increase in May.
- Durables Ex Transportation for June are estimated to rise 1.0% versus a .3% decline in May.
10:00 am EST
- New Home Sales for June are estimated to rise to 1300K versus 1298K in May.
2:00 pm EST
- Fed's Beige Book
BOTTOM LINE: Asian indices are mostly higher on earnings optimism in the region. I expect US equities to open mixed and move modestly higher later in the day. The Portfolio is 75% net long heading into the day.
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