Bloomberg:
- Ford Motor(F) said it will almost double its purchasing of China-made components this year to cut production costs.
- El Nino weather conditions, which can cause drought in the Asia-Pacific region and flooding in the Americas, intensified during October, Australia’s Bureau of Meteorology said today.
Financial Times Deutschland:
- German hedge funds have shown low returns of about 3% during the first nine months of this year, citing a survey of local investment companies.
China News Agency:
- Xinjiang, in northwestern China, plans to increase its oil and gas output to 60 million tons within 3 years, citing an official. The region will become China’s leading oil-producing region.
Economic Times:
- Genpact, an Indian computer services company, is planning to sell shares in the US in what could be the biggest initial public offering from the South Asian nation.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (FFIV), target $64.
- Reiterated Buy on (PSYS), target $42.
Night Trading
Asian Indices are +.25% to +.75% on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated +.01%.
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
- (AET)/.72
- (AKAM)/.22
- (AYE)/.54
- (APA)/1.89
- (ANDW)/.13
- (AVID)/.39
- (BOW)/-.16
- (BYD)/.52
- (BMY)/.20
- (CELG)/.14
- (CHK)/.72
- (CB)/1.25
- (CMCSA)/.19
- (DECK)/.54
- (DRIV)/.38
- (DOW)/.91
- (ELX)/.24
- (XOM)/1.59
- (FII)/.45
- (GT)/.24
- (ISRG)/.41
- (IRBT)/.09
- (K)/.65
- (LLL)/1.27
- (LSCC)/.05
- (LEA)/-.58
- (LIZ)/.99
- (MEE)/.04
- (MBI)/1.44
- (MFE)/.30
- (MEDI)/-.30
- (WFR)/.51
- (MCRS)/.40
- (MSFT)/.31
- (OMX)/.55
- (RTN)/.64
- (SOHU)/.16
- (S)/.33
- (STA)/1.32
- (SPF)/.68
- (HOT)/.50
- (SUNW)/-.04
- (WEN)/.64
- (XEL)/.48
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Durable Goods Orders for September are estimated to rise 2.0% versus a .5% decline in August.
- Durables Ex Transports for September are estimated to rise 1.0% versus a 2.0% decline in August.
- Initial Jobless Claims for last week are estimated to rise to 307K versus 299K the prior week.
- Continuing Claims are estimated to fall to 2440K versus 2453K prior.
10:00 am EST
- New Home Sales for September are estimated to fall to 2440K versus 2453K in August.
BOTTOM LINE: Asian indices are higher, boosted by technology shares 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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