Tuesday Watch

Late-Night Headlines
Bloomberg:
- Federal Reserve Bank of St. Louis President William Poole said that the US will probably avoid a recession and that the Fed’s interest-rate policy is appropriate for the slowing economy.

Wall Street Journal:
- Indian automobile maker Mahindra & Mahindra Ltd.’s light pickup trucks will be assembled in Ohio starting in 2009, and its hybrid vehicles will be sold in the US by 2010.

CNBC.com:
- Venezuela Moves Bank Accounts After Exxon(XOM) Freeze.
- S&P 500 Earnings Leaderboard: Biggest Surprises Season to Date.
- Blackberry Outage Strikes Across North America.

NY Times:
- Hedge Funds Raise Stake in Times Co. To Near 10%.
- AT&T(T) Joins Starbucks(SBUX) to Provide Store Wi-fi.

BusinessWeek.com:
- GTx(GTXI): A Compelling Biotech. S&P says the company’s lead drug candidate, Acapodene, represents a “significant opportunity” in the treatment of prostate cancer.

CNNMoney.com:
- Earnings: Nowhere to go but up. Banks dragged down profit growth for the S&P 500 in the fourth quarter and will likely do so again in the first quarter. But earnings may improve by year’s end.
- Deferred earnings: Apple’s(AAPL) hidden revenue bonus.

IBD:
- IBD Reinvents Market Section To Help You Focus On Winners.

Morningstar.com:
- A private sector committee created under the President’s Working Group on Financial Markets expects to have its recommendations for sound hedge-fund practices available for public comment sometime this quarter.

USA Today.com:
- Support grows for Sony’s(SNE) Blu-ray high-def DVDs.
- Lawyer gets two years in prison for class-action schemes.

Reuters:
- Six mortgage lenders will announce a plan tomorrow to help delinquent homeowners avoid foreclosure.
- Cisco CEO: Don’t freak out about weak market.
- Short interest in shares of Intel Corp.(INTC) rose 48% from mid-January to late January, the largest increase of any Nasdaq stock.
- Non-Hispanic whites will become a minority in the US by 2050, with immigrants and their children driving 82% of US population growth in coming years, a new study said.

Financial Times:
- Fed is right to intervene to ward off recession. As the US economy and markets weaken, perennial pessimists have moved to center stage, arguing for the inevitability of a serious recession.

TimesOnline:
- Microsoft(MSFT) Vows it will Continue Yahoo!(YHOO) Fight.

Late Buy/Sell Recommendations
Citigroup:
- Maintained Buy on (PBI), target $51.
- Reiterated Buy on (A), target $44.

Night Trading
Asian Indices are +.25% to +1.50% on average.
S&P 500 futures +.03%.
NASDAQ 100 futures unch.

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
- (IMB)/-1.57
- (MAS)/.28
- (SGP)/.25
- (WYN)/.45
- (MMC)/.31
- (OMC)/.95
- (GM)/-.64
- (Q)/.14
- (CCE)/.27
- (TAP)/.65
- (WYNN)/.68
- (CEPH)/.80
- (PNRA)/.55
- (NILE)/.44
- (XTO)/.92
- (SNDA)/.45
- (XMSR)/-.63
- (AMAT)/.20
- (BWLD)/.32

Upcoming Splits
- (WGOV) 2-for-1

Economic Releases
10:00 am EST
- The Monthly Budget Surplus for January is estimated at $19.0 billion versus $38.2 billion in December.

Other Potential Market Movers
- The IBD/TIPP Economic Optimism Index, (LVS) investor conference, (DRI) analyst meeting, (ERTS) analyst meeting, UBS Global Healthcare Services Conference, Lehman Brothers Industrial Select Conference, BIO CEO & Investor Conference, Goldman Sachs Ag Conference, Citigroup Retail Conference and Merrill Insurance Investors Conference could also impact trading today.

BOTTOM LINE: Asian indices are higher, boosted by technology and commodity stocks 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.