Bloomberg:
- The yuan may fall for the first day this week after China ordered lenders to hold more foreign currency at the central bank for the first time since 2004, limiting investment and easing pressure on the currency to rise.
- Japan’s industrial production unexpectedly fell .9%.
- A UN deadline for Iran to halt uranium enrichment expires today with the country’s president expressing confidence that the Security Council won’t be able to force it into line.
Economic Daily News:
- Taiwan’s new car sales may drop to a 50-year low in 2006 on rising bad debt levels and oil prices, citing industry officials.
Late Buy/Sell Recommendations
Morgan Stanley:
- Reiterated Overweight on (EBAY).
Night Trading
Asian Indices are +.50% to +1.25% on average.
S&P 500 indicated +.14%.
NASDAQ 100 indicated +.19%.
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
- (BF/A)/.71
- (CAKE)/.28
- (CIEN)/.00
- (DLM)/.04
- (DG)/.15
- (ESL)/.42
- (HRB)/-.29
- (HNZ)/.54
- (JOYG)/.58
- (KWD)/.28
- (NVDA)/.29
- (OVTI)/.40
- (TIF)/.32
- (PAY)/.26
- (WIND)/.05
- (ZLC)/.02
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Personal Income for July is estimated to rise .5% versus a .6% gain in June.
- Personal Spending for July is estimated to rise .8% versus a .4% increase in June.
- The PCE Core for July is estimated to rise .2% versus a .2% gain in June.
- Initial Jobless Claims for last week are estimated to rise to 315K versus 313K the prior week.
- Continuing Claims are estimated to fall to 2478K versus 2492K prior.
10:00 am EST
- Chicago Purchasing Manager for August is estimated to fall to 57.0 versus 57.9 in July.
- Factory Orders for July are estimated to fall .9% versus a 1.2% increase in June.
BOTTOM LINE: Asian indices are higher, boosted by technology stocks in the region. I expect US equities to open modestly higher and to maintain gains into the afternoon. The Portfolio is 100% net long heading into the day.
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