Bloomberg:
- Roche Holding AG is halting sales of the influenza drug Tamiflu in the US to ensure the medicine is available during the flu season.
- The US House passed legislation that would create a stricter federal regulator for Fannie Mae and Freddie Mac in response to more than $15 billion of accounting errors at the government-chartered mortgage finance companies.
- The US Senate Budget Committee approved a package of $39 billion in spending cuts, as part of a Republican-lead effort to reduce the budget deficit.
- Crude oil is little changed in NY after falling 2.9% yesterday when a report showed US oil stockpiles rose twice as much as expected last week.
- The US dollar is rising to the highest in more than two years against the yen amid speculation the US economy will remain strong and the Fed will keep raising rates.
- Jermaine Dye drove in the winning run with an eight-inning single as the Chicago White Sox beat the Houston Astros 1-0 to win their first World Series title in 88 years.
Financial Times:
- Time Warner’s board may meet today to discuss a possible partnership with its AOL division and Google or Microsoft.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on AMLN, PSSI, EPD, ACLS, CAH, BXP, SYMC, AHC, EPE, SII and DO.
- Reiterated Underperform on ESRX, JNY, RAI and CR.
Night Trading
Asian Indices are -.50% to unch. on average.
S&P 500 indicated -.35%.
NASDAQ 100 indicated -.32%.
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
AET/1.17
APA/2.31
AVID/.46
ABX/.13
BEBE/.16
BDK/1.67
CMI/2.60
DOW/.75
XOM/1.38
IMCL/.29
KLAC/.39
MSO/-.30
MXIM/.39
MSFT/.30
PD/4.01
TDW/.59
VZ/.64
WDC/.29
WMI/.33
WEN/.57
XMSR/-.66
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Durable Goods Orders for September are estimated to decline 1.5% versus a 3.4% gain in August.
- Durables Ex Transportation for September are estimated to rise .8% versus a 4.2% increase in August.
- Initial Jobless Claims for last week are estimated to fall to 340K versus 355K the prior week.
10:00 am EST
- New Home Sales for September are estimated to rise to 1250K versus 1237K in August.
BOTTOM LINE: Asian indices are mostly lower, dragged down by losses in Taiwan and Korea. I expect US equities to open modestly lower. The Portfolio is 75% net long heading into the day.
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