Bloomberg:
- The Bank of Japan will probably keep interest rates unchanged this week as the economy’s expansion cools.
- Long-time Democratic Senator Joe Lieberman conceded defeat in the Connecticut Democratic primary, losing to anti-war cable mogul Ned Lamont. Lamont is the great-grandson of legendary JP Morgan Chairman Thomas W. Lamont. Lieberman said he intended to file papers to run as an independent in the November general election.
- Roger Goodell, who started as an intern at NFL headquarters and rose to chief operating officer, was named commissioner in a vote by the league’s 32 owners.
- The US dollar strengthened against the euro and yen as the US Fed suggested it may increase interest rates again after keeping them on hold for the first time in two years.
AP:
- Sprint Nextel(S) mobile phones will be able to play radio broadcasts of Major League Baseball games under an agreement with Major League Baseball Advanced Media LP that will be announced tomorrow.
China Daily:
- China’s passenger car sales growth slowed to 5.4% in July as consumers postponed buying new models to wait for discounts, citing the China Assoc. of Auto Manufacturers’ spokeswoman.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (CSCO), target $26.
Morgan Stanley:
- Reiterated Overweight on (CSCO), target $26.
Night Trading
Asian Indices are -1.0% to unch. on average.
S&P 500 indicated +.02%.
NASDAQ 100 indicated +.34%.
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
- (ACS)/.79
- (AIG)/1.39
- (RMK)/.36
- (CD)/.34
- (CTRP)/.21
- (DYN)/-.06
- (FD)/.44
- (FWLT)/.41
- (HB)/.72
- (HGSI)/-.46
- (IPG)/.02
- (KG)/.39
- (TWPG)/.21
- (VIA)/.44
- (DIS)/.44
- (WMS)/.31
Upcoming Splits
- (PCAR) 3-for-2
Economic Releases
10:00 am EST
- Wholesale Inventories for June are estimated to rise .6% versus a .8% increase in May.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude drawdown of 1,000,000 barrels. Gasoline supplies are expected to fall 1,000,000 barrels. Distillate inventories are estimated to rise by 700,000 barrels. Finally, Refinery Utilization is estimated to rise .33%.
BOTTOM LINE: Asian indices are mostly lower, pressured by commodity 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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