Bloomberg:
- The No. 2 al-Qaeda leader in Iraq, Abu Azzam, an adie to Abu Musab al Zarqawi, was fatally shot Sunday night, a Pentagon official said.
- Microsoft and Intel have thrown their support behind Toshiba’s HD DVD format, marking a setback for Sony’s Blu-ray standard.
- The US dollar is gaining versus the yen and euro after a Federal Reserve official fueled speculation the US central bank won’t pause in raising interest rates.
Wall Street Journal:
- Republican leaders in Congress are introducing bills aimed at expanding US capacity for refining crude oil and domestic natural-gas production.
Asian Wall Street Journal:
- Starbucks Corp. is releasing a new chilled coffee in plastic cups in Japan’s convenience stores.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on SYMC and EBAY.
- Rated BOW Underperform.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.06%.
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
PAYX/.28
Upcoming Splits
HIBB 3-for-2
Economic Releases
10:00 am EST
- New Home Sales for August are estimated to fall to 1350K versus 1410K in July.
- Consumer Confidence for September is estimated to fall to 95.0 versus a reading of 105.6 in August.
BOTTOM LINE: Asian indices are mostly higher, boosted by Energy-related companies in the region. I expect US equities to open modestly lower on weaker economic reports and hawkish Fed comments. However, stocks may rally later in the afternoon on short-covering ahead of quarter’s end. The Portfolio is 75% net long heading into the day.
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