Bloomberg:
- Coking coal prices may slump 17% next year on expectations of increased output of the key steelmaking ingredient and little or no growth in steel demand, according to UBS AG.
Financial Times:
- VeraSun Energy(VSE), the US’s second-biggest producer of ethanol, will today disclose details of a new technology that enables the production of both ethanol and bio-diesel from corn.
Late Buy/Sell Recommendations
Business Week:
- Atheros Communications(ATHR) and Anheuser-Busch(BUD) are defensive stocks that protect investors from economic downturns, Dawn Bennett of Bennett Group Financial Services said.
- Carter’s(CRI), a children’s clothing manufacturer, could see its shares rise 90% by 2008, citing Robert Olstein, president of investment firm Olstein & Assoc.
Night Trading
Asian Indices are unch. to +.50% on average.
S&P 500 indicated +.05%.
NASDAQ 100 indicated +.06%.
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
- (DUK)/.56
- (MHS)/.69
- (OMG)/2.01
- (THQI)/.03
Upcoming Splits
- (CACB) 5-for-4
Economic Releases
8:30 am EST
- The Change in Non-farm Payrolls for October is estimated at 123K versus 51K in September.
- The Change in Manufacturing Payrolls for October is estimated at -5K versus -19K in September.
- The Unemployment Rate for October is estimated at 4.46% versus 4.6% in September.
- Average Hourly Earnings for October are estimated to rise .3% versus a .2% gain in September.
10:00 am EST
- The ISM Non-Manufacturing Index for October is estimated to rise to 54.5 versus a reading of 52.9 in September.
BOTTOM LINE: Asian indices are mostly higher, boosted 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 75% net long heading into the day.
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