Bloomberg:
- Japan’s consumer price gains unexpectedly slowed in September, prompting speculation the central bank will refrain from raising interest rates until next year.
- The yen weakened to a record against the euro after a government report showed an unexpected slowing in the pace of consumer price gains, raising concern the nation hasn’t fully emerged from its seven-year battle with deflation.
- China Oilfield Services Ltd., a unit of the nation’s third-largest oil producer, drilled 13% more wells in the first nine months of this year as China intensifies its search for oil and gas.
- Islamist fighters in Somalia have sieged control of a trading town and are massing to the east of Baidoa, the seat of the interim government.
- Australia’s senior Muslim cleric’s assertion that women who dress immodestly invite sexual assault could do “lasting damage” to the country’s Islamic community, Prime Minister John Howard said. Egyptian-born Sheik Taj Din al-Hilali last month delivered a sermon in which he likened women who don’t wear the Islamic headscarf to “uncovered meat” that falls prey to alley cats.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (SFI), target $50.
Business Week:
- Solexa(SLXA), which makes DNA sequencing products, may rise as much as 50% on sales of its genome analysis system, citing Leerink Swann’s John Sullivan.
- Lazard Ltd.(LAZ), the investment bank that helped invent mergers and acquisitions as a specialty, has expanded in new areas in the face of competition, citing an interview with Chairman and CEO Wasserstein.
Night Trading
Asian Indices are -.50% to +.50% on average.
S&P 500 indicated -.14%.
NASDAQ 100 indicated -.04%.
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
- (ALEX)/.52
- (AT)/.64
- (BHI)/1.08
- (BC)/.46
- (CAH)/.76
- (CVX)/2.03
- (CEG)/1.28
- (EXC)/1.05
- (FO)/1.33
- (IR)/.86
- (ITT)/.76
- (NOV).96
- (TE)/.34
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Advance 3Q GDP is estimated to rise 2.0% versus a 2.6% rise in 2Q.
- Advance 3Q GDP Price Index is estimated to rise 2.8% versus a 3.3% rise in 2Q.
- Advance 3Q Personal Consumption is estimated to rise 3.1% versus a 2.6% gain in 2Q.
- Advance 3Q Core PCE is estimates to rise 2.5% versus a 2.7% gain in 2Q.
9:45 am EST
- The Final Univ. of Mich. Consumer Confidence reading for October is estimated to rise to 92.7 versus a prior estimate of 92.3.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial shares 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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