Bloomberg:
- Nike Inc.(NKE) signed top-ranked golfer Tiger Woods to a new endorsement contract, both his agent and Nike(NKE) said.
- Gains in Japan’s producer prices slowed for a second month in November as oil costs fell, adding to evidence inflationary pressure is easing in the world’s second-largest economy.
- Shares of LG.Philips LCD Co., the world’s second-largest liquid-crystal display maker, dropped 7.6% after the company said it was raided by officials in South Korea, the US and Japan in an antitrust probe of screen makers.
- Pakistan’s agreements reached with groups in the tribal region bordering Afghanistan have boosted Taliban fighters sheltering in the area, the International Crisis Group said.
- BHP Billiton(BHP) said growth in production capacity of alumina refineries will outpace demand next year. China, the world’s top user and producer of aluminum, is cutting back on imports, BHP said.
- OPEC shouldn’t decide to cut crude oil output for a second time in two months, US Energy Secretary Bodman said in Tokyo.
Wall Street Journal:
- Toyota Motor(TM) may have rushed vehicle production without enough quality checks and relied too much on computer simulations, citing President Katsuaki Watanabe.
Mysteel.com:
- China boosted crude steel output by 24% in November from a year earlier. For the first eleven months of the year, the nation produced 381.5 million tons of steel, up 18% from a year earlier. The November production of hot-rolled sheets, used to make cold-rolled products, rose almost 300% from a year earlier. Iron ore production surged 44% in November to 59.3 million metric tons.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (SONS), raised target to $9.
- Reiterated Buy on (CCK), raised target to $25.
Morgan Stanley:
- Raised (JPM) to Overweight, target $53.
- Reiterated Overweight on (HIG), target $108.
Night Trading
Asian Indices are -1.0% to +.50% on average.
S&P 500 indicated -.06%.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (ADCT)/.18
- (BBY)/.35
- (CKR)/.16
- (COO)/.79
- (DG)/.15
- (GS)/6.04
- (MATK)/.10
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- The Trade Deficit for October is estimated to shrink to -$63.0 billion versus -$64.3 billion in September.
2:00 pm EST
- The monthly budget deficit for November is estimated to shrink to -$73.0 billion versus -$83.1 billion in October.
2:15 pm EST
- The FOMC is expected to leave the benchmark Fed Funds rate at 5.25%.
BOTTOM LINE: Asian indices are mostly higher, boosted by exporting 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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