Tuesday Watch

Late-Night Headlines
Bloomberg:
- Fremont General Corp.(FMT), whose loans to risky borrowers helped trigger the subprime mortgage crisis, named Alan W. Faigin as interim president and chief executive officer of its banking unit, replacing Kyle R. Walker.
- Apple Inc.(AAPL) sells its new iPhone handsets at more than double production costs, according to estimates by ISuppli Corp., a technology industry researcher. Excluding costs for logistics and royalties, Apple generates margins exceeding 55%. Apple will probably sell 4.5 million iPhones this year and more than 30 million units by 2011.
- China’s production of coal increased 7.1% to 1.1 billion metric tons in the first six months from a year ago.
- Australian police arrested an eighth suspect in connection with a terrorist attack on Glasgow International Airport and two attempted car bombings in London.
- Australia’s retail sales unexpectedly declined in May and building approvals slumped to a six-year low, signaling the central bank will leave interest rates unchanged tomorrow. The nation’s currency fell.

Wall Street Journal:
- Larry Ellison became a billionaire by making Oracle Corp. a giant in business software. Now he is poised to get even richer from a start-up that could compete with Oracle. NetSuite Inc., an Ellison-backed company, yesterday filed plans for an IPO.
- Investment firm Leonard Green & Partners LP said it has agreed to acquire a majority stake in closely held Container Store Inc., the latest in a string of acquisitions of retailers by private money.

Reuters:
- Treasury Secretary Henry Paulson reiterated his view that the US housing market may be past its worst, citing an interview. “In terms of looking at housing, most of us believe that it’s at or near the bottom,” Paulson said.

Financial Times:
- 750,000 a year killed by Chinese pollution. Beijing engineered the removal of nearly a third of a World Bank report on pollution in China because of concerns that findings on premature deaths could provoke “social unrest.

China Securities Journal:
- China’s securities brokerages earned commissions of more than $11.3 billion in the first half as the country’s stock market soared. Investors opened more than 18.7 million brokerage accounts for trading yuan-denominated A-shares listed on China’s two exchanges in the period, 650% the number opened in all of 2006.

Late Buy/Sell Recommendations
- None of note.

Night Trading
Asian Indices are +.50% to +1.0% on average.
S&P 500 indicated +.10%.
NASDAQ 100 indicated +.13%.

Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Pre-market Stock Quote/Chart
Before the Bell CNBC Video(bottom right)
Global Commentary
WSJ Intl Markets Performance
Commodity Movers
Top 25 Stories
Top 20 Business Stories
Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
Daily Stock Events
Macro Calls
Upgrades/Downgrades
Rasmussen Business/Economy Polling
CNBC Guest Schedule

Earnings of Note
Company/EPS Estimate
- None of note

Upcoming Splits
- (CXW) 2-for-1

Economic Releases
10:00 am EST
- Pending Home Sales for May are estimated to rise .5% versus a -3.2% decline in April.
- Factory Orders for May are estimated to fall -1.2% versus a .3% gain in April.

Afternoon:
- Total Vehicle Sales for June are estimated to rise to 16.3M versus 16.2M in May.

Other Potential Market Movers
- Weekly retail sales reports could also impact trading today.

BOTTOM LINE: Asian indices are higher, boosted by automaker and technology stocks in the region. I expect US equities to remain mixed throughout the day. The Portfolio is 100% net long heading into the day.