Bloomberg:
- Japanese stocks are rising, lifting the Nikkei 225 Stock Average above 15,000 for the first time in five years.
- Rio Tinto Group, the world’s third largest mining company, agreed to sell its stake in Papua New Guinea’s Lihir Gold Ltd. for $294 million to tap bullion prices near their highest in 22 years.
Commercial Times:
- China Steel, Taiwan’s largest steelmaker, may struggle in 2006 to reach half of this year’s expected pretax profit of $1.94 billion, citing Chairman Yao-chung.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on LUV and GNW.
Night Trading
Asian Indices are unch. to +1.0% on average.
S&P 500 indicated +.11%.
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
JBX/.59
MCDTA/.00
MERQE/.32
SFD/.55
SNPS/.10
TIF/.16
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Preliminary 3Q GDP is estimated to rise 4.0% versus a prior estimate of a 3.8% increase.
- Preliminary 3Q GDP Price Index is estimated to rise 3.1% versus a prior estimate of a 3.1% increase.
- Preliminary 3Q Personal Consumption is estimated to rise 3.9% versus a prior estimate of a 3.9% rise.
10:00 am EST
- The Chicago Purchasing Manager for November is estimated to fall to 60.0 versus a reading of 62.9 in October.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude drawdown of 500,000 barrels. Gasoline inventories are estimated to rise 1.2 million barrels and distillate supplies are expected to rise 1.0 million barrels. Finally, refinery utilization is expected to rise 1.0%.
2:00 pm EST
- Fed’s Beige Book
BOTTOM LINE: Asian indices are mostly higher on strength in exporters in the region after strong US economic reports. I expect US equities to trade modestly higher on the open and to fall slightly later in the day, finishing mixed. The Portfolio is 25% net long heading into the day.
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