Bloomberg:
- Crude oil in NY is falling from a two-month high amid expectations mild US temperatures will help bolster winter heating fuel supplies.
- Samsung Electronics topped $100 billion in market value today, joining Vodafone Group Plc(VOD) as the only technology stocks outside the US to pass the milestone.
- The dollar fell to a two-month low against the euro and dropped versus the yen in Asia after minutes from the Fed’s last meeting suggesting it is closer to halting an 18-month policy of raising interest rates.
AP:
- Lynn Swann, a member of the Pro Football Hall of Fame and veteran television football analyst, is expected to announce tomorrow that he’s running for the Republican nomination for governor of Pennsylvania.
Bangkok Post:
- Crude oil prices are likely to trade in a range of $40 to $55 a barrel this year amid steady growth in the energy industry, citing the president of PTT Pcl, Thailand’s biggest energy company.
Economic Daily News:
- China Steel has cut export prices for its hot-rolled and cold-rolled steel by an average of $80 to $100 a metric ton due to weak demand.
Commercial Times:
- AU Optronics(AUO) plans to invest as much as $1.1 billion to expand its so-called fifth-generation production lines to cope with strong demand, citing unidentified equipment suppliers.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Underperform on SMP.
Night Trading
Asian Indices are +.50% to +1.25% on average.
S&P 500 indicated +.01%.
NASDAQ 100 indicated -.09%.
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Company/EPS Estimate
(AYI).42
(BCF)1.01
(DCN)-.02
(SONC).27
Upcoming Splits
- None of note
Economic Releases
10:00 am EST
- Factory Orders for November are estimated to rise 2.4% versus a 2.2% increase in October.
Afternoon
- Total Vehicle Sales for December are estimated to rise to 16.8M versus 15.7M in November.
BOTTOM LINE: Asian indices are higher, led by technology shares in the region, on optimism the US fed will soon end interest rate hikes. I expect US equities to open mixed and to rally modestly into the afternoon. The Portfolio is 100% net long heading into the day.
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