Bloomberg:
- Hewlett-Packard(HPQ) said sales of its notebooks during the holiday season are “very strong.”
- NASA plans to build a solar-powered base on the moon beginning in 2020 and use it as a launch point for missions to Mars.
- South Korea’s central bank forecasts economic growth will slow to 4.4% in 2007 from 5% this year.
- Copper futures in Shanghai fell for a second day after another gain in global inventories of the metal, sparking renewed concern that supply growth may outpace demand.
iSuppli Corp.:
- Advanced Micro Devices(AMD) and Hynix Semiconductor will probably enter the top 10 chipmakers in 2006 as their sales outpace rivals’.
AP:
- China consumers six percent of the crude oil traded globally and has been diversifying it sources of oil by looking for new suppliers in Africa and South America, citing China’s Assistant Minister of Foreign Affairs Zhai Jun.
Beijing Antaike Information Development Co.:
- China will overtake Australia to become the top maker of alumina next year, prompting prices of the commodity to slump further. Production in China of the semi-finished material that is used to make aluminum will jump by 45% to 20 million tons in 2007. Prices may average 2,000 yuan a metric ton in 2007 compared with 4,000 yuan this year.
Bangkok Post:
- Japan’s Mitsubishi Oil, a unit of Nippon Oil, found oil and gas reserves in Thailand’s Sukhothai province, citing Energy Minister Piyasvasti Amranand.
Xinhua News:
- Avon Products(AVP) has recruited almost 300,000 door-to-door sales people in China this year, citing Avon China’s president.
Late Buy/Sell Recommendations
Morgan Stanley:
- Reiterated Overweight on (BKC), raised target to $23.
Night Trading
Asian Indices are +.25% to +1.0% on average.
S&P 500 indicated -.03%.
NASDAQ 100 indicated +.01%.
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
- (ATVI)/-.10
- (ACS)/.81
- (AZO)/1.68
- (CPRT)/.30
- (KR)/.28
- (NOVL)/.04
- (PLAB)/.16
- (SAFM)/.26
- (TOL)/1.06
- (WITS)/.18
- (WWE)/.12
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Final 3Q Non-farm Productivity is estimated to rise .5% versus prior estimates of unch.
- Final 3Q Unit Labor Costs are estimated to rise 3.2% versus prior estimates of a 3.8% gain.
10:00 am EST:
- Factory Orders for October are estimated to fall 4.2% versus a 2.1% increase in September.
- ISM Non-Manufacturing for November is estimated to fall to 55.5 versus a reading of 57.1 in October.
BOTTOM LINE: Asian indices are higher, boosted by technology shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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