Bloomberg:
- New York City attracted a record 44 million tourists who added $24 billion to the economy in 2006.
Wall Street Journal:
- Bank of Japan Governor Toshihiko Fukui said the central bank will confirm that consumer prices are rising before deciding when to raise interest rates.
Financial Times:
- Apple Computer(AAPL) CEO Steve Jobs was given 7.5 million stock options in 2001 without the company’s board of directors authorizing the action as required. The options under review were handed to Jobs in October 2001, however Jobs later surrendered his options before they were exercised, implying that he didn’t gain any direct benefit from them. Apple has previously stated that its internal investigation revealed no misconduct by any current members of Apple’s management team, including Steve Jobs.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are unch. to +.25% on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated -.11%.
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
- None of note
Upcoming Splits
- (LFC) 2.66-for-1
Economic Releases
8:30 am EST
- Initial Jobless Claims for last week are estimated to rise to 320K versus 315K the prior week.
- Continuing Claims are estimated to fall to 2500K versus 2520K prior.
10:00 am EST
- Consumer Confidence for December is estimated to fall to 102.0 versus a reading of 102.9 in November.
- The Chicago Purchasing Manager report for December is estimated to rise to 50.2 versus a reading of 49.9 in November.
- Existing Home Sales for November are estimated to fall to 6.19M versus 6.24M in October.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil drawdown of 2,500,000 barrels versus a 6,323,000 decline the prior week. Gasoline supplies are expected to rise by 750,000 barrels versus a 1,058,000 barrel increase the prior week. Distillate inventories are expected to rise by 500,000 barrels versus a 1,206,000 barrel increase the prior week. Finally, Refinery Utilization is expected to rise .3% versus a 1.6% gain the prior week.
BOTTOM LINE: Asian indices are higher, boosted by technology shares in the region. I expect US equities to open modestly lower and to rise into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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