Bloomberg:
- The US and European Union are considering a package of economic incentives to offer Sudan’s government in exchange for its cooperation in ending the humanitarian crisis in Darfur, diplomats said, as the US was set to name a special envoy to the region.
- China and India are accelerating development of wind power, luring companies including turbine maker Vestas Wind Systems A/S.
- The yuan rose after the daily fixing rate was set at the highest since a decade-long dollar peg ended last year, on speculation US Treasury Secretary Henry Paulson, arriving in Beijing today, will press China for faster gains.
- International Monetary fund Managing Director Rodrigo de Rato said global economic growth may be peaking, prodding policy makers to reach agreement on a new trade deal or risk a deeper slowdown.
Financial Times:
- Demand for solar cells is creating a shortage of silicon, the raw material also used to make semiconductors, the price of which has more than doubled in three years.
AFP:
- An unsuccessful attempt to assassinate Somali President Abdullahi Yousuf Ahmed was the work of the al-Qaeda terrorist network.
China Daily:
- Sales of air conditioners in China fell 16.7% over the past 12 months, the first decline since 1991.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (NFLX), target $30.
- Reiterated Buy on (HEW), target $28.
Night Trading
Asian Indices are +.25% to +.50% on average.
S&P 500 indicated -.11%.
NASDAQ 100 indicated unch.
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
- (AZO)/2.79
- (CBRL)/.78
- (CHAP)/1.04
- (CBK)/.20
- (DRI)/.58
- (FDS)/.42
- (ORCL)/.16
- (PRGS)/.36
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- The Producer Price for August is estimated to rise .3% versus a .1% gain in July.
- The PPI Ex Food & Energy for August is estimated to rise .2% versus a .3% decline in July.
- Housing Starts for August are estimated to fall to 1746K versus 1795K in July.
- Building Permits for August are estimated to fall to 1740K versus 1763K in July.
BOTTOM LINE: Asian indices are higher, boosted by commodity and automaker shares in the region. I expect US equities to open modestly higher and to fade into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.
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