Bloomberg:
- Shanghai copper futures fell the most in a month following price declines in London and New York on speculation China has rescheduled part of the 200,000 tons of deliveries its was due to make to international markets.
Commercial Times:
- Quanta Computer sees its fourth-quarter to Dec. 31 notebook computer shipments gaining as much as 15% from the third quarter.
- AU Optronics plans to spin off three of its older plants early next year to focus on making large-sized liquid-crystal displays.
- International orders for Taiwan’s information technology products this year are expected to grow 19.7%, twice the original forecast of 10%.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Underperform on NFS and DE.
Night Trading
Asian Indices are +.25% to +.75% on average.
S&P 500 indicated -.05%.
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
DCN/-.02
HRL/.57
LGND/-.16
PDCO/.33
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Initial Jobless Claims for last week are estimated to rise to 312K versus 303K the prior week.
- Continuing Claims are estimated to fall to 2750K versus 2793K prior.
9:45 am EST
- Final Univ. of Mich. Consumer Confidence for November is estimated to rise to 81.0 versus a prior estimate 79.9.
10:30 am EST
-Bloomberg consensus estimates call for a weekly crude build of 250,000 barrels. Gasoline inventories are estimated to rise 1.0 million barrels and distillate supplies are expected to rise 700,000 barrels. Finally, refinery utilization is expected to rise 1.5%.
BOTTOM LINE: Asian indices are higher, boosted by semiconductor companies in the region. I expect US equities to open modestly higher and to maintain gains into the afternoon. The Portfolio is 100% net long heading into the day.
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