Bloomberg:
- Democrats are on the verge of taking control of the US House of Representatives for the first time in 12 years, while the US Senate is still too close to call with a recount likely in Virginia.
- Microsoft Corp.(MSFT) will pay $442 million to Novell(NOVL) in a technology accord signed last week to make their rival server software work together.
- The prices of London’s most-expensive homes are rising at the fastest pace in 18 years as bankers, traders and hedge fund managers anticipate record bonuses this year, real estate adviser Knight Frank LLC said.
- China will complete a highway across the world’s biggest sandy desert, near the ancient Silk Road, six months before schedule to tap oil fields in the west of the country and reduce reliance on imports.
- The US and its European allies differ so greatly from China and Russia over how to prevent Iran from developing nuclear weapons that a compromise on UN action may be impossible, China’s ambassador said.
Financial Times:
- Microsoft Corp.(MSFT) may offer some of its Office desktop software tools over the Internet, citing Bill Gates.
London-based Times:
- Ousted Iraqi dictator Saddam Hussein, convicted of crimes against humanity, could be executed by the end of this year, citing Iraqi Prime Minister Nuri al-Maliki.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (MGA), target $84.
- Downgraded (OSIP) to Sell, target $28.
Night Trading
Asian Indices are -.75% to unch. on average.
S&P 500 indicated -.22%.
NASDAQ 100 indicated -.17%.
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
- (UHAL)/2.95
- (BRL)/.74
- (BMC)/.32
- (CELL)/.18
- (CVC)/-.15
- (CSCO)/.29
- (CTRP)/.24
- (DYN)/.09
- (FD)/.25
- (FWLT)/.49
- (IPG)/-.14
- (LAMR)/.17
- (NWS/A)/.20
- (PCG)/.67
- (RL)/1.06
- (PCLN)/.67
- (SIRI)/-.14
- (BID)/-.33
Upcoming Splits
- None of note
Economic Releases
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil build of 750,000 barrels versus a 1,910,000 barrel increase the prior week. Gasoline inventories are expected to remain unchanged versus a 2,799,000 barrel decline the prior week. Distillate supplies are estimated to fall 800,000 barrels versus a 2,723,000 barrel decline the prior week. Finally, refinery utilization is expected to increase .5% versus a 2.72% rise the prior week.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.
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