Bloomberg:
- Saudi Arabia’s King Abdullah, hosting talks between Fatah and Hamas, told leaders of the movements to resolve disagreements over forming a unity government, saying their dispute threatens to destroy all Palestinian achievements.
- Natural rubber prices, which surged to records last year, may fall later this year as car production growth slows in China, the world’s biggest consumer of the commodity, Jingyi Futures Co. said. A government clampdown on vehicle production capacity and exports will slow rubber consumption growth. “The explosive growth in China’s appetite for rubber is over, and we will be in a period when supply slightly outstrips demand,” said Feng Zhengyu, rubber analyst at the firm.
- Jim Rogers, author of “Hot Commodities”, said he sees China’s water problem as a major risk to growth in the country.
AP:
- House Ways and Means Committee Chairman Charles Rangel said he would be willing to add some Senate-passed tax cuts for small business to legislation increasing the minimum wage.
Financial Times:
- The US may consider starting the process to remove North Korea from the list of sponsors of terrorism and ease restrictions on American companies dealing with the communist country should North Korea show progress on a broad agreement to dismantle its nuclear weapons program.
Independent:
- Las Vegas Sands(LVS) plans to bid for the license to run Britain’s first super-casino in Manchester.
Financial News:
- China needs to step up monetary policy measures to curb inflation and ease imbalances in international payments, citing Xiang Junbo, vice governor of the People’s Bank of China.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (URBN), target $29.
Night Trading
Asian Indices are -.50% to +.50% on average.
S&P 500 indicated +.01%.
NASDAQ 100 indicated +.26%.
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
- (APKT)/.09
- (AFFX)/.04
- (AKAM)/.26
- (ACL)/1.03
- (ALKS)/.00
- (AN)/.34
- (CENT)/-.13
- (CI)/2.27
- (CGX)/1.02
- (DF)/.61
- (DVN)/1.36
- (EDS)/.36
- (ICE)/.74
- (MANH)/.30
- (MXIM)/.31
- (MEDI)/.53
- (MCO)/.59
- (NWS/A)/.25
- (RL)/.92
- (PRU)/1.52
- (RVBD)/.01
- (ROL)/.14
- (SLE)/.16
- (SKYW)/.46
- (SINA)/.22
- (DIS)/.39
- (WHR)/1.44
Upcoming Splits
- (LMC) 3-for-1
- (MDCI) 3-for-2
Economic Releases
8:30:
- Preliminary 4Q Non-farm Productivity is estimated to rise 2.0% versus a .2% increase in 3Q.
- Preliminary 4Q Unit Labor Costs are estimated to rise 2.1% versus a 2.3% gain in 3Q.
10:30:
- Bloomberg consensus estimates call for a weekly crude oil build of 2,000,000 barrels versus a 2,684,000 barrel increase the prior week. Gasoline supplies are estimated to rise by 1,750,000 barrels versus a 3,819,000 barrel increase the prior week. Distillate Inventories are expected to fall by -3,000,000 barrels versus a -2,648,000 barrel decline the prior week. Finally, Refinery Utilization is estimated to remain unch. versus a -.32% decline the prior week.
3:00 pm EST:
- Consumer Credit for December is estimated to fall to $6.0 billion versus $12.3 billion in November.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US equities to open modestly higher and to maintain gains into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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