Bloomberg:
- The rate of US highway fatalities last year increased for the first time since 1986 as the number of motorcycle deaths rose 13%. Motorcycle fatalities increased to 4,553 from 4,028, and almost 50% of those who died in such accidents last year were not wearing helmets.
- Striking BHP Billiton(BHP) workers at Chile’s Escondida copper mine said they have reduced their demand for improved wages and benefits as the walkout extends to a 16th day.
Wall Street Journal:
- Tome Cruise’s production company, based on the lot of Viacom’s Paramount Pictures since 1992, is setting up an independent operation funded by two hedge funds.
London-based Times:
- Sony Corp.(SNE) hasn’t started manufacturing its PlayStation 3 video game console, which is due to go on sale by the end of the year.
Late Buy/Sell Recommendations
Smith Barney:
- Rated (ALB) Buy, target $64.
Night Trading
Asian Indices are -.75% to unch. on average.
S&P 500 indicated -.07%.
NASDAQ 100 indicated -.13%.
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
- (AMWD)/.66
- (BWS)/.40
- (CHS)/.30
- (CWTR)/.10
- (DLTR)/.27
- (EV)/.33
- (MIK)/.18
- (PSS)/.53
- (PVH)/.47
- (RGS)/.59
- (TECD)/.03
Upcoming Splits
- None of note
Economic Releases
10:00 am EST
- Existing Home Sales for July are estimated to fall to 6.55M versus 6.62M in June.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude drawdown of 1,350,000 barrels. Gasoline supplies are expected to fall by 2,050,000 barrels. Distillate inventories are estimated to rise by 700,000 barrels. Finally, Refinery Utilization is expected to remain unchanged.
BOTTOM LINE: Asian indices are mostly lower, weighed down by exporting stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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