Bloomberg:
- Edison International’s Southern California Edison unit agreed to buy output from a facility planned by Australia’s Allco Finance Group Ltd. in the largest wind-power contract by a US utility.
- Micron Technology(MU) said first-quarter profit tripled, boosted by higher prices.
- Trading in options to buy shares of Kimberly-Clark(KMB) rose 24-fold, the most in more than six years, on speculation the company may be bought.
- Copper futures in Shanghai plunged the maximum daily limit to a six-month low on concern slower economic growth in the US and China, the world’s two biggest copper consumers, may reduce demand for the industrial metal.
- Research In Motion(RIMM) said third-quarter profit rose 46% on demand for BlackBerry e-mail devices and market share gains against rival Palm Inc.(PALM).
- Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, and rivals may fail to secure a sixth straight increase in prices for the key steelmaking ingredient in 2008 as output from new mines boosts global supply.
Xinhua News Agency:
- Tianjin Qingyuan Electric Vehicle Co. is building China’s largest electric car plant in northern Tianjin, aiming to expand overseas sales. The factory, to be completed by the end of 2007, will produce vehicles powered by batteries, hybrid power and fuel cells.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (PSYS), raised target to $49.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.03%.
NASDAQ 100 indicated +.15%.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (WAG)/.41
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Personal Income for November is estimated to rise .4% versus a .4% gain in October.
- Personal Spending for November is estimated to rise .6% versus a .2% gain in October.
- The PCE Deflator for November is estimated to rise .1% versus a .2% gain in October.
- Durable Goods Orders for November are estimated to rise 1.3% versus an -8.3% decline in October.
- Durables Ex Transports for November are estimated to rise 1.0% versus an -1.7% decline in October.
10:00 am EST
- The Final Univ. of Mich. Consumer Confidence reading for December is estimated to remain at 90.2 versus a prior estimate of 90.2.
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 rise into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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