Bloomberg:
- LG.Philips LCD Co., the world’s largest maker of liquid-crystal displays, Samsung Electronics and their peers may face a greater-than-expected supply glut in the second half, market researcher ISuppli said.
- A JetBlue Airways plane carrying 146 people made a safe emergency landing at Los Angeles International Airport after pilots discovered the front landing gear was stuck and aborted the flight to NY.
- Here is the forecast track for Hurricane Rita from Tropical Storm Risk.com.
- Here is a color infrared loop of Rita.
- Exxon Mobil, St. Paul Travelers, Alcoa and other companies are shutting Houston operations or preparing to evacuate as Hurricane Rita moves in striking distance of the US’s fourth-largest city.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on DIS and BSX.
Night Trading
Asian Indices are -1.25% to -.25% on average.
S&P 500 indicated -.05%.
NASDAQ 100 indicated -.03%.
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
AGE/.65
DRI/.52
FINL/.38
GIS/.56
KBH/2.40
ORCL/.14
PALM/.38
SLR/.04
COMS/-.11
Upcoming Splits
None of note
Economic Releases
8:30 am EST
- Initial Jobless Claims for last week are estimated to rise to 450K from 398K the prior week.
- Continuing Claims are estimated to rise to 2659K versus 2590K prior.
10:00 am EST
- Leading Indicators for August is estimated to decline .3% versus a .1% increase in July.
BOTTOM LINE: Asian indices are lower as exporting shares in the region come under pressure on increasing worries over global growth and Hurricane Rita. I expect US equities to open modestly lower and to remain under pressure most of the day barring a shift to the south in the forecasted path of Rita or a downgrade to category 3 status. The Portfolio is market neutral(%long-%short=0) heading into the day.
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