- HSBC Holdings Plc will expand faster in the Americas and Asia than in the lender’s home base of Europe over the coming 10 years.
- Adults ages 18 to 26 spend 12.2 hours a week surfing the Web, compared with 10.6 hours watching TV, according to a survey published today by Forrester, a Cambridge, Mass.-based market researcher.
- Cingular Wireless, the largest US mobile-phone services provider, plans to charge about 4.7 million subscribers with older phones an extra $5 a month starting in September. The move is part of Cingular’s plan to get users to purchase new handsets and devote its network to one type of signal.
- Dell Inc.(DELL) will begin selling notebook computers equipped with Advanced Micro Devices(AMD) processor chips as early as October.
- Israel’s Cabinet approved expanding the army’s land offensive against Hezbollah bases in southern Lebanon.
Xinhua News Agency:
- China ordered online games to include user registration systems by the fourth quarter this year to prevent children from spending too much time on them.
Late Buy/Sell Recommendations
- None of note
Asian Indices are unch. to +.25% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated -.16%.
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Before the Bell CNBC Video(bottom right)
Top 20 Business Stories
Daily Stock Events
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
- None of note
8:30 am EST
- Personal Income for June is estimated to rise .6% versus a .4% gain in May.
- Personal Spending for June is estimated to rise .4% versus a .4% gain in May.
- The PCE Core for June is estimated to rise .2% versus a .2% gain in May.
10:00 am EST
- Construction Spending for June is estimated to rise .1% versus a .4% decline in May.
- ISM Manufacturing for July is estimated to fall to 53.5 versus a reading of 53.8 in June.
- ISM Prices Paid for July is estimated to fall to 75.2 versus a reading of 76.5 in June.
- Pending Home Sales for June are estimated to fall .5% versus a 1.3% gain in May.
- Total Vehicle Sales for July are estimated to rise to 16.7M versus 16.3M in June.
- Domestic Vehicle Sales for July are estimated to rise to 13.0M versus 12.6M in June.
BOTTOM LINE: Asian indices are mostly higher, boosted by pharmaceutical stocks 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.