Bloomberg:
- Sony Corp.(SNE) will probably revise its annual forecast to a profit from a loss on higher holiday season sales of Bravia flat-screen televisions and digital cameras.
- Crude oil is falling for a third day in NY before a report that may show US oil stockpiles rose last week as mild temperatures sapped heating demand.
- China’s economy grew 9.9% in 2005, overtaking France as the world’s fifth largest, powered by exports and investment in factories, roads and power plants.
Financial Times:
- UK companies are less willing to make acquisitions in emerging markets than companies in the US or other European countries, citing KPMG International research.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on (SYK), (PKG), (DD) and (MSFT).
- Reiterated Underperform on (LU), (EAT) and (CR).
Night Trading
Asian Indices are +.25% to +1.25% on average.
S&P 500 indicated +.14%.
NASDAQ 100 indicated +.21%.
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
(ABT)/.76
(ADP)/.45
(AMG)/1.29
(ATI)/.88
(ALTR)/.19
(AHC)/3.26
(ABC).40
(AMTD)/.22
(BLS)/.45
(BMY)/.28
(BR)/2.35
(CL)/.68
(COP)/2.62
(EXC)/.73
(GD)/1.97
(HSY)/.75
(JNPR)/.20
(KMG)/.161
(MXIM)/.41
(NSC)/.75
(NVLS)/.16
(QCOM)/.38
(ROW)/-.21
(STJ)/.40
(SWK)/.82
(VAR)/.33
(WLP)/1.04
Upcoming Splits
- None of note
Economic Releases
10:00 am EST
- Existing Home Sales for December are estimated to fall to 6.87M versus 6.97M in November.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude build of 1,400,000 barrels. Gasoline inventories are estimated to rise 1,400,000 barrels, and distillate supplies are expected to increase by 875,000 barrels. Finally, refinery utilization is expected to remain unchanged.
BOTTOM LINE: Asian indices are higher on falling energy prices and reports of strong economic growth in the region. I expect US equities to open mixed and to rally later in the day, finishing higher. The Portfolio is 75% net long heading into the day.
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