- BlueScope Steel Ltd., Australia’s largest steelmaker, said full-year earnings may fall as much as 53% after prices of the alloy declined because of a glut of production from China.
- The UN, the European Union and the Organization of the Islamic Conference have called for an end to violence after the publication of satirical drawings of the prophet Muhammad, citing a joint statement.
- EBay Inc.(EBAY), Google(GOOG), Yahoo!(YHOO) and Amazon.com(AMZN) will focus on their core businesses rather than compete with each other, citing an interview with EBay CEO Whitman.
- The threat of terrorism has been the main driver of higher gold prices, citing former US Fed Chairman Alan Greenspan.
International Oil Daily:
- Iraq is planning to export 1.55 million barrels of oil a day in February, an increase of 275,000 barrels a day from January.
- Sweden aims to “break” its dependency on oil to become the world’s first oil-free economy within 15 years.
- China will have deployed 1,800 guided missiles by 2010 and it will have created aircraft carrier battle groups by 2015, posing a serious threat to Taiwan.
China Securities Journal:
- Prices of flat steel products including cold-rolled sheets used in cars and appliances will fall this year because of rising supplies, citing a government report.
Late Buy/Sell Recommendations
- Reiterated Outperform on (BSX), (SPG), (PFE), (CSCO), (CAKE) and (FSH).
- Reiterated Underperform on (TOL), (BMC) and (TCO).
Asian Indices are -1.50% to -.75% on average.
S&P 500 indicated +.06%.
NASDAQ 100 indicated +.12%.
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Before the Bell CNBC Video(bottom right)
Top 20 Business Stories
Daily Stock Events
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
- None of note
- None of note
BOTTOM LINE: Asian indices are lower on losses in commodity-related stocks in the region. I expect US equities to open modestly lower and to rally later in the afternoon, fishing modestly higher. The Portfolio is 50% net long heading into the day.