Wednesday, October 26, 2005

Wednesday Watch

Late-Night Headlines
Bloomberg:
- Australia’s consumer prices increased less than economists expected in the third quarter as the price of TVs, DVDs, stereos and medicines declined.
- Japan’s exports rose 8.8% to a record in September on higher demand from the US and China.
- Crude oil is falling for a sixth day in seven before a report today that may show US stockpiles increased for a third week on higher imports and weaker demand.

Financial Times:
- Sealed indictments in the CIA leak probe are expected to be filed tomorrow and released later this week.

AFP:
- Laser printers made by Xerox Corp. and other companies produce a secret code that can help the US Secret Service track down currency counterfeiters.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on GNW and CVS.
- Reiterated Underperform on EW and CR.

Night Trading
Asian Indices are -.50% to +.75% on average.
S&P 500 indicated +.22%.
NASDAQ 100 indicated +.19%.

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
ADP/.35
AHC/3.30
APCC/.28
BUD/.80
BIDU/.06
BOL/.90
BIIB/.42
BA/.80
CAH/.72
COP/2.56
GLW/.21
CSX/.72
DO/.40
DBD/.27
EL/.32
ESRX/.61
KMG/2.64
LLL/1.09
MGM/.41
MNST/.24
NEM/.25
OMX/.29
PFCB/.31
PHM/1.39
RCL/1.47
S/.38
ZMH/.67

Upcoming Splits
- None of note

Economic Releases
10:30 am EST
- Platt's estimates weekly crude inventories rose 2.7 million barrels, gasoline inventories rose 2.3 million barrels, distillate inventories declined 1.1 million barrels and refinery utilization increased 4.0%.

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and technology companies in the region. I expect US equities to open mixed and to rise modestly later in the day. The Portfolio is 100% net long heading into the day.

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