Bloomberg:
- After paying more than $12 billion in fines and settlements over four years, Wall Street firms including Goldman Sachs and Lehman Brothers are headed for their biggest profits since 2000.
Wall Street Journal:
- Microsoft is seeking to benefit from the Internet advertising and software boom as it introduces new Web-based services.
- A McDonald’s shareholder with a 4.9% stake has suggested the company sell a major portion of its company-owned restaurants in an IPO to provide holders more value.
London-based Times:
- GE, Mitsubishi Heavy Industries, Shaw Group and Toshiba are among the companies on the shortlist to buy British Nuclear Fuels Plc’s Westinghouse Electric, the world’s largest holder of nuclear technology.
South China Morning Post:
- The US and China will agree to resume military exchanges during President Bush’s meeting with President Jintao in Beijing next week.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on MDT, DISH, CBB, MSFT, FSH and KRG.
- Reiterated Underperform on AGI and PFG.
Night Trading
Asian Indices are -.25% to +1.25% on average.
S&P 500 indicated +.07%.
NASDAQ 100 indicated +.09%.
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
DOX/.38
CSCO/.24
FD/.23
FST/.94
HANS/.59
IPG/-.08
JDSU/.00
KG/.33
L/.00
MVL/.30
NVDA/.36
SNDA/.37
WFMI/.53
Upcoming Splits
SMG 2-for-1
Economic Releases
10:00 am EST
- Wholesale Inventories for September are estimated to rise .3% versus a .5% gain in August.
10:30 am EST
- Platt's estimates that weekly crude inventories rose 1.7 million barrels, gasoline inventories rose 1.1 million barrels and distillate supplies increased 600,000 barrels. Refinery utilization is expected to rise 2.3%.
BOTTOM LINE: Asian indices are mostly higher, spurred by gains in technology shares in the region. I expect US equities to open modestly higher. The Portfolio is 100% net long heading into the day.
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