Bloomberg:
- Crude oil fell to $68/bbl., a 15-week low, as the US summer travel season drew to a close and traders speculated a dispute with Iran about nuclear research may be resolved without curtailing exports.
- US Treasuries gained this week as the minutes of the Federal Reserve’s August meeting reinforced speculation the central bank is done raising interest rates.
- China Petroleum & Chemical Corp., the nation’s largest refiner, and Japan’s Nippon Oil Corp. are importing more oil from Africa and Russia as Asian nations try to reduce their dependence on Middle East crude.
- UK police officers were given “diversity training” at an Islamic school southeast of London that’s now at the center of a terrorism investigation.
- President Bush said the US must reduce its dependence on oil from overseas and expand technology and job training to keep the American economy the strongest in the world.
- Advancing age increases a man’s risk of having an autistic child as much as 600%, according to a study in the Archives of General Psychiatry.
Wall Street Journal:
- Yahoo!(YHOO) Treasurer Gideon Yu was hired by closely held YouTube Inc. to become the user-uploaded video Web site’s first CFO.
Barron’s:
- The US stock market will make a “key” move in the fourth quarter, although Wall Street strategists can’t agree on the dirction.
NY Times:
- Special Prosecutor Patrick Fitzgerald’s decision to continue investigating the disclosure of a CIA agent’s identity for two years when he already knew who gave out the name has raised questions.
- US automakers expect sales of vehicles that are a cross between a sport utility vehicle and a car to pass 2 million this year and exceed for the first time the number of standard SUVs sold.
- Wiki open-source software, which allows any Web user to write and edit information on a Wiki site, has expanded beyond Wikipedia, the popular online encyclopedia, to several commercial Web sites.
- Vonage Holding(VG) attained 2 million subscribers, an increase from 1.6 million at the end of the first quarter.
- Time magazine, the news magazine owned by Time Warner(TWX), and Newsweek, owned by Washington Post(WPO), are taking on new editors as they seek to retain relevance.
Crain’s NY Business:
- Howard Stern, who broadcast to more than 12 million listeners on commercial radio, has attracted a following of only about 1 million since his move to Sirius Satellite Radio(SIRI).
San Francisco Chronicle:
- Polysilicon, a material used in making semiconductor wafers and solar panels, has more than doubled in price as demand by chipmakers, and subsides that spurred solar panel installation, have diminished supplies.
LA Times:
- Some companies are forcing employees to use their vacation time, even resorting to punitive measures for those who don’t take a break.
Economist.com:
- The new science of synthetic biology is poised between hype and hope. But its time will soon come.
Star-Ledger of Newark:
- Two-thirds of 300 New Jersey employers surveyed by Rutgers University said they have difficulty finding skilled workers, a slight increase from last year.
Detroit News:
- Ford Motor(F) Chairman Bill Ford Jr. plans to fix the company’s North American business, make better use of global assets and boost the leadership team with outsiders when necessary.
Financial Times:
- Barneys New York will open its first store outside the US in a new shopping mall in White City, west London.
- Iran’s former president Mohammad Khatami said a Palestinian state “ready to live alongside Israel” would be acceptable to Iran.
Reuters:
- The number of new oil tankers delivered into service next year will rise 20%.
- Starbucks(SBUX) plans to open its first store in Brazil in November in a city yet to be announced.
Observer:
- Nasdaq Stock Market(NDAQ) is mulling a hostile bid for the London Stock Exchange.
AP:
- Iraq arrested Al-Qaeda’s second-in-command in the country, leaving the terror group’s leadership in “crisis,” citing National Security Advisor Muwafiq al-Rubaie.
Haaretz:
- Deployment of UN troops in southern Lebanon may lead to a complete Israeli withdrawal within 10-to-14 days.
Focus:
- The publication in Germany early this year of cartoons depicting the prophet Muhammad triggered July’s failed terrorist attack on two German trains, the President of the Federal Criminal Office Joerg Ziercke said.
El Universal:
- Most Mexicans oppose protests carried out by Andres Manual Lopez Obrador, the presidential candidate who claims he lost the July 2 elections because of fraud, a poll found.
Weekend Recommendations
Barron's:
- Had positive comments on (BUD) and (SORC).
- Had negative comments on (MED), (IMCL), (DHR) and (IMAX).
Night Trading
Asian indices are -.25% to +.25% on average.
S&P 500 indicated +.17%
NASDAQ 100 indicated +.20%.
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
- (FNSR)/.03
- (HAIN)/.23
Upcoming Splits
- (RDY) 2-for-1
Economic Releases
- None of note
BOTTOM LINE: Asian Indices are mostly mixed as losses in energy stocks are offsetting gains by mining shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the week.
No comments:
Post a Comment