Bloomberg:
- The yen touched an eight-month low against the dollar after the North Korean government said it detonated its first nuclear bomb.
- Federal Reserve Bank of St. Louis President William Poole said the recent drop in long-term interest rates in the bond market is helping stabilize the US economy. “If we get an upside surprise, the long rate clearly has a lot of room to rise” without action by the Fed’s policy committee, Poole said.
- China will focus on measures to curb excessive growth in investments and loans and tackle the widening trade deficit in the second half of the year, Ma Kai, the nation’s top economic planner said. Measures are needed to avoid accelerated economic growth that might lead to overheating, he said.
- The impact from North Korea’s nuclear test on South Korea’s economy may become “serious” depending on the reaction by the United Nations, South Korea’s Ministry of Finance and Economy said.
NY Times:
- Sanofi-Aventis was the unnamed bidder ImClone Systems, a deal opposed by Carl C. Icahn.
NY Daily News:
- The Moinian Group, a developer of Manhattan luxury residences, is the first condo seller in NY to allow buyers to make down payments with their American Express(AXP) cards and earn membership points.
Financial Times:
- Berkshire Hathaway CEO Warren Buffett has told senior managers to crack down on “bad behavior,” such as stock options backdating, citing an internal memo.
Night Trading
Asian Indices are unch. to +.75% on average.
S&P 500 indicated +.01%.
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
- (AA)/.77
- (CPKI)/.33
- (CHTT)/.42
- (DNA)/.51
- (IDT)/-.36
- (NAT)/.90
- (SVU)/.53
Upcoming Splits
- (ACH) 4-for-1
Economic Releases
10:00 am EST:
- Wholesale Inventories for August are estimated to rise .7% versus a .8% gain in July.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and financial 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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