Bloomberg:
- Amazon.com will replace AT&T in the S&P 500 index on Nov. 18.
- Richard Fisher, president of the Federal Reserve Bank of Dallas, said the US economy is growing “very nicely” and he sees no signs that inflation is “running rampant.” “Globalization and competition from abroad is acting as a disinflationary force,” he said.
- GM has begun another round of incentives to lure US buyers after a sharp drop in October sales. Ford Motor said it will announce its own promotion tomorrow.
- Billionaire George Soros’s hedge fund bought stakes in the third quarter in technology companies including Intel, IBM, Amazon and Apple Computer.
Korea Economic Daily:
- Samsung Electronics will make mobile phone chips for Qualcomm of the US as part of a strategic alliance.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on EBAY, AIG and DIS.
Night Trading
Asian Indices are -.75% to unch. on average.
S&P 500 indicated -.19%.
NASDAQ 100 indicated -.15%.
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
ANF/.80
AEOS/.46
ADI/.34
BJ/.36
DKS/.07
GME/.14
HD/.68
JCP/.92
SPLS/.32
TJX/.34
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- The Producer Price Index for October is estimated to rise 0.0% versus a 1.9% increase in September.
- The PPI Ex Food & Energy for October is estimated to rise .2% versus a .3% increase in September.
- Advance Retail Sales for October are estimated to fall .7% versus a .2% increase in September.
- Retail Sales Less Autos for October are estimated to rise .3% versus a 1.1% gain in September.
- Empire Manufacturing for November is estimated to rise to 15.5 versus a reading of 12.1 in October.
BOTTOM LINE: Asian indices are mostly lowed, weighed down by financial shares in the region. I expect US equities to open mixed and rally modestly later in the afternoon. The Portfolio is 100% net long heading into the day.
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