Bloomberg:
- The yuan rose as US lawmakers kept up pressure on China to allow for faster appreciation.
- Crude oil fell for a fourth day in NY as US reports showed economic growth is slowing and gasoline demand is waning with the end of the summer vacation season.
- The UN is trying to persuade members to join a 15,000-strong peacekeeping force to monitor the cease-fire that halted fighting between Israel and Hezbollah in southern Lebanon.
China Business News:
- China Construction Bank Corp. reduced its lending growth to zero in July in response to government efforts to rein in a credit-fueled investment boom. Construction Bank had been an “aggressive” lender this year, extending $3.8 billion of new loans in May.
Financial Times:
- Fiserv Inc.(FISV), North America’s third-largest data processing company by market value, is conducting due diligence on Misys Plc, a UK financial-software maker.
Late Buy/Sell Recommendations
Smith Barney:
- Reiterated Buy on (CRM), target $44.
- Upgraded (AMD) to Buy, target $27.50.
CSFB:
- Initiated Technology sector with Overweight rating.
Night Trading
Asian Indices are unch. to +1.25% on average.
S&P 500 indicated -.09%.
NASDAQ 100 indicated -.05%.
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
- (ARO)/.13
- (ADSK)/.35
- (BKS)/.23
- (BEBE)/.21
- (PLCE)/-.54
- (CLE)/.36
- (DELL)/.22
- (DV)/.19
- (FMCN)/.37
- (FL)/.17
- (GME)/.06
- (GPS)/.14
- (HIBB)/.13
- (MRVL)/.23
- (JWN)/.65
- (POWI)/.11
- (RGLD)/.17
- (SHLD)/1.67
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Initial Jobless Claims for last week are estimated to fall to 315K versus 319K the prior week.
- Continuing Claims are estimated to fall to 2475K versus 2480K prior.
10:00 am EST
- Leading Indicators for July are estimated to rise .1% versus a .1% gain in June.
12:00 pm EST
- The Philly Fed for August is estimated to rise to 8.7 versus a reading of 6.0 in July.
BOTTOM LINE: Asian indices are higher, boosted by technology and automaker stocks in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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