Wednesday, October 05, 2005

Wednesday Watch

Late-Night Headlines
Bloomberg:
- Futures-market predictions that the Federal Reserve will raise its interest rate target by a half-percentage point over two remaining meetings this year are “reasonable,” St. Louis Fed Bank President William Poole said.
- DaimlerChrysler AG’s Chrysler, the No. 3 US automaker, will add a fourth new small sport-utility vehicle next year as near-record gasoline prices push US buyers to more fuel-efficient cars and trucks.

Wall Street Journal:
- TDC A/S, Denmark’s biggest telecommunications operator, received a takeover bid worth about $12 billion from a group of four US and UK private-equity firms.

Financial Times:
- Hewlett-Packard will develop its profitable printer division, rather than sell it, citing an interview with CEO Hurd.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on MSFT, MYL, MERQE and GE.

Night Trading
Asian Indices are -1.25% 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
RI/.33
SLR/.04

Upcoming Splits
- None of note

Economic Releases
10:00 am EST
- ISM Non-Manufacturing for September is estimated to fall to 60.0 versus a reading of 65.0 in August.
- Pending Home Sales for August are estimated to fall .5% versus a 1.0% decline in July.

BOTTOM LINE: Asian indices are mostly lower, dragged down by commodity-related companies in the region after the US Fed insinuated further rate hikes. I expect US equities to open mixed and fall modestly later in the day. The Portfolio is 25% net long heading into the day.

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