Bloomberg:
- Ballard Power Systems, trying to find more users for its low-polluting automotive fuel cells, is talking to China about investing in its operations, Ballard’s CEO said.
- The US dollar reached a six-week high against the yen in Asia after the Fed raised interest rates for an 11th straight time and signaled further increases are likely.
- Hurricane Rita strengthened as it entered the Gulf of Mexico, prompting concern among forecasters that the storm could become more powerful than Hurricane Katrina, the most costly US disaster.
- Crude oil futures are rising in NY as oil producers in the Gulf of Mexico, including ConocoPhillips, Exxon Mobil, and Marathon Oil, evacuated staff and shut platforms in the path of Hurricane Rita.
- Japan’s economic recovery is “becoming sustainable” as rising corporate profits help spark business investment and consumer spending, Finance Minister Sadakazu Tanigaki said.
Wall Street Journal:
- Dartmouth’s Tuck School was ranked as the top national business school this year by recruiters, according to WSJ and Harris Interactive.
London-based Times:
- Goldman Sachs Group bankers will receive record pay after the investment bank reported its most profitable quarter ever.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on ALL, AIG and BC.
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated -.11%.
NASDAQ 100 indicated -.13%.
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
AZO/2.83
BBBY/.46
BMET/.41
KMX/.37
CTAS/.48
CAG/.23
FDX/1.17
MWD/1.05
Upcoming Splits
None of note
Economic Releases
None of note
BOTTOM LINE: Asian indices are mostly lower as exporting shares in the region come under pressure from another jump in energy prices. I expect US equities to open modestly lower on rising apprehension over US growth and Hurricane Rita. The Portfolio is 50% net long heading into the day.
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