Bloomberg:
- The yen, near a four-year low against the dollar, will decline further as the G-7 nations meeting this weekend may stop short of criticizing the Japanese currency’s weakness, according to Lehman Brothers Holdings(LEH).
- Princeton University, Brown University and the University of Pennsylvania each had record applications for admission, while Ivy League rival Yale University’s applications declined by 9.7%.
- The Palestinian Hamas and Fatah movements agreed to form a national unity government in a move aimed at ending internecine fighting and easing international financial sanctions.
- Fortress Investment Group LLC raised $634.3 million in the first initial offering by a manager of US hedge funds and buyout funds.
- The UN is trying to block the execution of a co-defendant of former Iraqi dictator Saddam Hussein for crimes against humanity, saying his death sentence breaches international law.
- Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, and Korea National Oil Corp. agreed to start exploring for oil off South Korea’s east coast this year.
- Japan’s machinery orders fell in December, signaling economic growth may slow this year as companies scale back spending on factories and equipment.
Wall Street Journal:
- Economists said the US government should place additional taxes on gasoline to promote the use of alternative energy, according to a survey.
South China Morning Post:
- China’s propaganda department has set up a points system for the nation’s newspapers in efforts to tighten its control over the media, citing sources from the Communist Party.
Late Buy/Sell Recommendations
Business Week:
- Cell Genesys Inc.(CEGE) has clinical trials under way for vaccines for prostate and pancreatic cancer that could reverse a stock downturn since September, citing Pamela Bassett, an analyst with Cantor Fitzgerald.
- Hartford Financial Services Group Inc.(HIG) could see its stock price increase 57% in the next year, citing Greenhaven Assoc. Pres. Edgar Wachenheim.
Morgan Stanley:
- Reiterated Overweight on (GILD).
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated +.01%.
NASDAQ 100 indicated -.04%.
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
- (AG)/.31
- (CVH)/.97
- (HAS)/.67
- (MA)/.17
- (STN)/.45
- (WY)/.75
Upcoming Splits
- None of note
Economic Releases
- None of note
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and financial shares in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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