Bloomberg:
- President Bush said Americans are safer now than before the Sept. 11 terrorist attacks five years ago because of steps taken by his administration.
- The US gasoline pump price fell 21 cents in the past two weeks to $2.66 a gallon as supplies kept ahead of demand, Trilby Lundberg said, citing her survey of about 7,000 filling stations nationwide.
- OPEC President Edmund Daukoru said he’s “very concerned” about the drop in oil prices, down 16% from July highs.
- OPEC is likely to keep production unchanged when it meets next week, OPEC ministers from Saudi Arabia and the UAE said.
- European Central Bank President Jean-Claude Trichet and fellow policy makers signaled interest rates will be raised again in October to temper inflation.
- China’s government will increasingly turn to monetary policy to slow excessive investment, Vice Premier Zeng Peiyan said, signaling that the central bank my raise the cost of borrowing and curb loans in the fourth quarter.
- China’s investment and production grew at a slower pace last month while inflation remained stable, Premier Wen Jiabao said, suggesting government measures are effective in cooling the fastest expansion in more than a decade.
- Former Hewlett-Packard Co.(HPQ) director Tom Perkins, who resigned over an investigation of leaks of company information to the press, today called on Chairwoman Patricia Dunn to step down.
- Coca-Cola(KO) today inaugurated a new $25 million bottling plant in Kabul, marking its re-entry into Afghanistan after a 15-year absence because of violence there.
- The drop in oil, gold and other raw materials since May is signaling an end to the five-year bull market in commodities as global growth slows and demand falls. Frederic Lasserre, director of commodities research at Societe Generale SA in Paris, said a 50% plunge in metals prices is “likely.”
Wall Street Journal:
- Citigroup(C) named Dean Barr as head of its Tribeca Global Management LLC hedge fund unit, replacing Tanya Styblo Beder.
- Asia’s emerging stock markets failed to keep pace with a global rally during the past three months.
- Lenovo Group Ltd., the world’s third-largest pc maker, is prepared to cut prices as competitors such as Dell Inc.(DELL) step up efforts to gain market share in China.
- The Japanese economy grew at a 1.0% annual pace in the three months ended June 30, the Cabinet Office said.
- The Australian dollar may decline a fourth straight day, its longest losing streak in over a month, on concern a slump in the price of metals the nation exports will spur selling.
- President Bush began two days of ceremonies marking the fifth anniversary of the Sept. 11 terrorist attacks, laying wreaths at the site of the World Trade Center in NY.
Barron’s:
- Apple Computer(AAPL) is about to start remodeling some of its stores. The stores’ all-white look will likely be changed and the redesign will focus on new products being added to the company’s lineup.
- Johnson & Johnson(JNJ), General Electric(GE) and Procter & Gamble(PG) were rated the most respected of the world’s 100 largest companies, citing a second annual survey of money managers.
- LaBranche(LAB) is “ripe” for a management-led leveraged buyout as the company may add as much as $400 million in cash during the next few years, citing Louis Capital research head Robert Van Batenburg.
NY Times:
- Medtronic(MDT) and Honeywell Intl.(HON) are betting on remote-monitoring medical technology to lead to more effective use of drugs and fewer and shorter hospital stays for patients.
- The Boston Police Dept. will be testing a system that automatically notifies US immigration officials if state and local police run a federal fingerprint check on a suspect.
Washington Post:
- US intelligence agencies have made “major advance” since the Sept. 11 attacks and are now better prepared to head off terrorist plots, John Negroponte, director of national intelligence, wrote.
LA Times:
- Los Angeles International Airport began a service allowing passengers to check in at locations around the city to avoid the buildup of long lines at the airport.
Financial Times:
- Apple Computer(AAPL) will say it plans to start a service for downloading films.
- General Electric’s(GE) NBC Universal plans a rapid acceleration of its digital activities that could increase online revenue 500% by 2009, citing CEO Wright.
Sunday Times:
- Richard Branson, the UK billionaire who controls Virgin Group, invested $60 million in a stake in Cilion, a company that makes fuel from corn.
AP:
- Former US Vice President Al Gore said he hasn’t ruled out the possibility of making another run for president, but considers it unlikely.
- Iran’s chief nuclear negotiator said the country is willing to consider halting uranium enrichment for as long as two months.
Le Monde:
- French Interior Minister Nicolas Sarkozy, a probable candidate for the nation’s presidency next year, said he feels “close” with the US and expressed admiration for its “energy and fluidity” in an interview.
Daily Mail:
- Scientists may find a cure for hay fever within three years, and asthma “shortly” after that, citing Dr. Ronald van Ree, a researcher at the University of Amsterdam.
al-Ayam:
- Trade between Bahrain and the US increased 58% in the first half after the two countries signed a free-trade agreement.
Weekend Recommendations
Barron's:
- Had positive comments on (SYMC) and (IR).
Night Trading
Asian indices are -.50% to +.50% on average.
S&P 500 indicated -.05%
NASDAQ 100 indicated +.03%.
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/Estimate
- (CPB)/.22
- (PRX)/.15
Upcoming Splits
- None of note
Economic Releases
- None of note
BOTTOM LINE: Asian Indices are mostly lower, weighed down by commodity shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the week.
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