Thursday Watch

Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (ERTS), target $64.

Night Trading
Asian Indices are -1.25% to unch. on average.
S&P 500 futures -.07%.
NASDAQ 100 futures -.04%.

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
- (JTX)/-.69
- (CIEN)/.37
- (TOL)/-.35
- (ADCT)/.27
- (COO)/.65
- (MATK)/.25
- (ZQK)/.20
- (MOV)/.41

Economic Releases
8:15 am EST
- The ADP Employment Change for August is estimated at -30K versus +9K in July.

8:30 am EST
- Final 2Q Non-farm Productivity is estimated to rise 3.5% versus a 2.2% increase in 1Q.
- Final 2Q Unit Labor Costs are estimated unch. versus a 1.3% gain in 1Q.
- Initial Jobless Claims for last week are estimated to fall to 420K versus 425K the prior week.
- Continuing Claims are estimated to fall to 3420K versus 3423K prior.

10:00 am EST:
- ISM Non-Manufacturing for August is estimated at 49.5 versus 49.5 in July.

10:35 am EST:
- Bloomberg consensus estimates call for a weekly crude oil inventory build of 450,000 barrels versus a -3,502,000 barrel drawdown the prior week. Gasoline supplies are expected to fall by -1,300,000 barrels versus a -1,179,000 barrel decline the prior week. Distillate inventories are estimated to rise by 1,000,000 barrels versus a 57,000 barrel increase the prior week. Refinery Utilization is expected to rise .2% versus a 1.58% increase the prior week. Finally, Natural Gas supplies are estimated to rise by 90bcf versus a 102 bcf injection the prior week.

Upcoming Splits
- (ISYS) 2-for-1
- (ATVID) 2-for-1

Other Potential Market Movers
- The Fed’s Fisher speaking, Fed’s Yellen speaking, ICSC August Chain Store Sales, (TEX) analyst meeting, Goldman Retail Conference, Keefe Bruyette Woods Insurance Conference, Thomas Weisel Healthcare Conference, Morgan Keegan Equity Conference, Cowen Clean Energy Conference, Kaufman Brothers Investor Conference, Citigroup Tech Conference, Lehman Consumer Conference, Needham HDD Investor Day and CSFB Automotive Conference could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and shipping shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.