Bloomberg:
- Here is an interactive map of the oil rigs and platforms in the path of Hurricane Rita.
- Gasoline and crude oil are falling in NY after Hurricane Rita weakened its path toward Texas and shifted eastwards away from the heart of the refining industry. As well, the Bush administration said they would tap the Strategic Petroleum Reserve again if needed.
Wall Street Journal:
- Hurricane Rita’s affect on commercial-mortgage-backed securities by be three times as great as that of Hurricane Katrina’s.
- Time Inc., the largest US magazine publisher, received a subpoena from a federal prosecutor investigating the industry’s circulation practices.
Financial Times:
- China’s securities regulator is considering relaxing rules to allow foreign financial firms to take control of the nation’s securities brokers.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Underperform on DRI.
Business Week:
- Symmetry Medical(SMA), a designer and maker of implants used in joint replacements, may benefit as larger manufacturers outsource their needs, citing Craig Leighton of Lord Abbett.
Night Trading
Asian Indices are -.75% to -.25% on average.
S&P 500 indicated -.03%.
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
GTK/.39
JLG/.59
Upcoming Splits
- None of note
Economic Releases
- None of note
BOTTOM LINE: Asian indices are lower as exporting shares in the region come under pressure again on increasing worries over global growth and Hurricane Rita. I expect US equities to open modestly lower on rising apprehension over Rita. The Portfolio is 50% net long heading into the day.
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