Bloomberg:
- Australia’s economy expanded at the slowest pace in three years as higher interest rates and fuel costs curbed consumer spending and companies ran down stocks.
- The Bank of Japan will probably keep its overnight lending rate at .25% this week, judging that the economy isn’t expanding fast enough to require a second increase in two months.
Economic Daily News:
- Nanya Technology Corp. expects its prices DDR2 dynamic random access memory chips to rise between 5% and 10% this month, citing Vice-President Pai Pei-lin.
Late Buy/Sell Recommendations
Morgan Stanley:
Reiterated Overweight on (MBT), target $45.50.
Night Trading
Asian Indices are -.50% to unch. on average.
S&P 500 indicated -.07%.
NASDAQ 100 indicated -.14%.
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
- (HOV)/1.10
- (MATK)/.15
Upcoming Splits
- (RDY) 2-for-1
Economic Releases
8:30 am EST
- Final 2Q Non-farm Productivity is estimated to rise 1.6% versus a prior estimate of a 1.1% gain.
- Final 2Q Unit Labor Costs are estimated to rise 4.0% versus a prior estimate of a 4.2% gain.
10:00 am EST
- ISM Non-Manufacturing for August is estimated to rise to 55.1 versus a reading of 54.8 in July.
2:00 pm EST:
- The Fed’s Beige Book
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology 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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