Bloomberg:
- Delta Air Lines agreed to sell its Atlantic Southeast Airlines commuter unit to SkyWest for $425 million, raising cash as Delta tries to avoid filing for bankruptcy protection.
- The US dollar continued to strengthen in Asia against the euro after a government report showed international investors bought more US assets than expected.
- Crude oil is falling for a second day in NY on expectations stockpiles of heating fuel rose last week as refiners recovered from breakdowns.
- A magnitude 7.2 earthquake struck the Tohoku region north of Tokyo at 11:46 am, the US Geological Survey said on its Web site.
- Investment in China’s fixed assets grew at a faster pace for a sixth straight month in July as companies spent more money expanding oil refining and coal mining production capacity to help ease shortages.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on EBAY.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.06%.
NASDAQ 100 indicated +.06%.
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
ANF/.69
AEOS/.36
AMAT/.14
BJ/.43
DE/1.90
DKS/.45
EL/.41
HPQ/.31
HD/.80
JCP/.40
JWN/.48
PLAB/.30
SPLS/.19
TJX/.25
WMT/.65
Upcoming Splits
None of note
Economic Releases
8:30 am EST
- Consumer Price Index for July is estimated to rise .4% versus a 0.0% change in June.
- CPI Ex Food & Energy for July is estimated to rise .2% versus a .1% increase in June.
- Housing Starts for July are estimated to rise to 2025K versus 2004K in June.
- Building Permits for July are estimated to fall to 2132K versus 2100K in June.
9:15 am EST
- Industrial Production for July is estimated to rise .5% versus a .9% gain in June.
- Capacity Utilization for July is estimated to rise to 80.3% versus 80.0% in June.
BOTTOM LINE: Asian indices are mostly lower, led down by energy shares in the region. I expect US equities to open mixed-to-lower on increased inflation worries and retail sector earnings concerns. The Portfolio is 50% net long heading into the day.
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