Late-Night Headlines
Bloomberg:
- Lehman’s(LEH) Hedge-Fund Clients Left in Cold as Assets Are Frozen. Lehman Brothers Holdings Inc.'s bankruptcy probably means the end of hedge-fund manager Oak Group Inc. after 22 years in business.
- American International Group Inc.(AIG) may benefit from a government plan to buy distressed mortgage assets, NY Insurance Superintendent Eric Dinallo said. “It is likely that it could help,” Dinallo said. Issuers of credit default swaps may have the chance to cancel the contracts if the underlying assets get bought by the government, Dinallo said.
CNBC.com:
Reuters:
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (THO), boosted target to $30.
Night Trading
Asian Indices are +.25% to +2.25% on average.
S&P 500 futures -.48%.
NASDAQ 100 futures -.84%.
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
Upgrades/Downgrades
Rasmussen Business/Economy Polling
Earnings of Note
Company/EPS Estimate
- (ATU)/.54
- (WWW)/.59
- (SMSC)/.25
- (MU)/-.23
- (BLUD)/.24
Economic Releases
8:15 am EST
- The ADP Employment Change for September is estimated at -50K versus -33K in August.
10:00 am EST
- ISM Manufacturing for September is estimated at 49.5 versus 49.9 in August.
- ISM Prices Paid for September is estimated at 73.0 versus 77.0 in August.
- Construction Spending for August is estimated to fall .5% versus a .6% decline in July.
10:35 am EST
- Bloomberg consensus estimates call for a weekly crude oil build of 2,750,000 barrels versus a -1,520,000 barrel drawdown the prior week. Gasoline supplies are estimated to fall by -2,050,000 barrels versus a -5,895,000 barrel decline the prior week. Distillate inventories are estimated to fall by -1,500,000 barrels versus a -4,176,000 barrel decline the prior week. Finally, Refinery Utilization is expected to rise by 5.5% versus a -10.7% decline the prior week.
Afternoon:
- Total Vehicle Sales for September are estimated to fall to 13.5M versus 13.7M in August.
Upcoming Splits
- None of note
Other Potential Market Movers
- The weekly MBA mortgage applications report, Challenger Job Cuts report, Merrill Lynch Global Energy Conference, (ENER) Investor Day, (OKS) Analyst Meeting, (SFE) Analyst Day could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by financial and commodity stocks in the region. I expect