Tuesday Watch

Late-Night Headlines
Bloomberg:
- World wheat stockpiles will probably rise for the first time in four years in 2008-2009 because of increased plantings, which may help push down prices, said Etsuo Kitahara, executive director of the International Grains Council.
- Zinc futures on the Shanghai Futures Exchange fell the maximum daily limit after a sharp decline in international prices.

Wall Street Journal:
- Economy Moves To Fore as Issue For 2008 Voters.
- Paulson Asks Congress To Act on Loan Crisis.
- Chavez Suffers Major Setback. Venezuelan President Hugo Chavez’s defeat in a referendum on changing the country’s constitution will energize the nation’s opposition, but the leader is likely to continue his quest to remain in power and turn the country into a bastion of what he calls 21^st-century socialism.

NY Times:
- A Lurid Aftermath to a Hedge Fund Manager’s Fast Life.

MarketWatch.com:
- China’s Dirty Mix of Pollution and Profit. World-leading economic growth is causing pollution on an epic scale, Thomas Kostigen writes from China.

BusinessWeek.com:
- Verizon(VZ) Embraces Google’s(GOOG) Android. How Verizon Wireless learned to stop worrying and love open access. Step one: Realizing it’s a way to add low-cost customers.
- Hot Growth: The Chips Have It. Four of the top 10 companies in our annual Hot Tech Growth 75 are involved in the manufacture of semiconductors. What’s behind their banner year?
- The Virtues of Virtualization. S&P says spending on virtualization software and services is likely to skyrocket.

CNNMoney.com:
- Don’t count Pfizer(PFE) out.

CNBC.com:
- Fed May Cut Interest Rates A Full Point: Citi Economist.
- IBM to Accelerate $1 Billion Stock Buyback.

USA Today.com:
- Internet to top radio in ad spending, forecaster says.
- Pump prices could fall as oil wavers.

Reuters:
- Countrywide Financial(CFC) CEO Mozilo said on Monday he doesn’t expect the largest US mortgage lender to file for bankruptcy protection, saying “elements are certainly no there.”
- Retailers should report improved monthly sales on Thursday helped by November’s cooler weather and the Thanksgiving holiday shopping weekend.
- Top-20 selling vehicles in US through November.
- US Treasury Secretary Henry Paulson said on Monday he hoped a plan to spare homeowners facing mortgage-rate spikes would be ready by week’s end and expressed faith the economy would dodge recession despite the deep housing slump.

Canadian Press:
- Iran ordered Canada’s ambassador to leave the country, Canadian Foreign Affairs Minister Maxime Bernier said.

Late Buy/Sell Recommendations
- None of note

Night Trading
Asian Indices are -.50% to +50% on average.
S&P 500 futures -.12%.
NASDAQ 100 futures -.06%.

Morning Preview
US AM Market Call
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Pre-market Commentary
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Before the Bell CNBC Video(bottom right)
Global Commentary
WSJ Intl Markets Performance
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Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
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Rasmussen Business/Economy Polling
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Earnings of Note
Company/EPS Estimate
- (SAFM)/1.57
- (AZO)/1.91
- (SGR)/.44
- (LAYN)/.56
- (AVAV)/.22
- (CPRT)/.38
- (CHS)/.10
- (PSS)/.36
- (WIND)/.05
- (GES)/.57
- (NX)/.98

Upcoming Splits
- (RSTI) 2-for-1
- (CAM) 2-for-1

Economic Releases
- None of note

Other Potential Market Movers
- The weekly retail sales reports, (NOK) capital market day, (TXRH) analyst meeting, (ARBA) financial analyst day, (MDU) analyst meeting, (IFX) analyst meeting, Caylon Securities Airline Conference, BMO Capital Markets Healthcare Conference, Banc of America Credit Conference, Citigroup Basic Material Conference, Bear Stearns Real Estate Conference, UBS Global Media Conference could also impact trading today.

BOTTOM LINE: Asian indices are mixed as gains in technology shares are offsetting losses in mining stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.