Tuesday, August 30, 2005

Tuesday Watch

Late-Night Headlines
Bloomberg:
- Asian economic growth is under threat should oil prices remain above $70/bbl., economists said.
- Japan’s household spending unexpectedly fell for a third month in July as individuals cut expenditures on transportation and housing, suggesting consumer demand may not lead growth in the world’s second-biggest economy.
- Crude oil is rising for a second day in NY on concern Hurricane Katrina damaged platforms and ports on the Gulf of Mexico.

Financial Times:
- Next Plc and Debenhams Plc may be among UK retailers planning to move production to Eastern Europe, Turkey and India from China to ensure they get the latest styles into stores more quickly.

Shanghai Daily:
- Shanghai Airlines is seeking Chinese government approval to operate freight services to the US.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on EBAY, MERQE and MRVL.

Night Trading
Asian Indices are -.50% to +.75% 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
ADCT/.28
MCRS/.43
SMTC/.14

Upcoming Splits
None of note

Economic Releases
10:00 am EST
- Consumer Confidence for August is estimated to fall to 101.0 from 103.2 in July.
- Factory Orders for July are estimated to fall 2.2% versus a 1.4% increase in June.

2:00 pm EST
- Minutes of Aug. 9 FOMC Meeting

BOTTOM LINE: Asian indices are mostly higher on gains in financial shares in the region. I expect US equities to open modestly higher, however shares may weaken later in the day after the release of the FOMC Minutes. The Portfolio is 75% net long heading into the day.

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