Wednesday Watch

Late Buy/Sell Recommendations
Citigroup:

- Reiterated Buy on (ADBE), target $27.

- Reiterated Buy on (MRK), target $42.

Night Trading
Asian Indices are -1.25% to +2.75% on average.
S&P 500 futures -.52%.
NASDAQ 100 futures -.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
Upgrades/Downgrades
Rasmussen Business/Economy Polling

Earnings of Note
Company/EPS Estimate
- (DE)/.99

- (FRED)/.15

- (TIF)/.25

Economic Releases
8:30 am EST

- Durable Goods Orders for October are estimated to fall 3.0% versus a .9% gain in September.

- Durables Ex Transports for October are estimated to fall 1.6% versus a 1.0% decline in September.

- Personal Income for October is estimated to rise .1% versus a .2% gain in September.

- Personal Spending for October is estimated to fall 1.0% versus a .3% decline in September.

- The PCE Core for October is estimated unch. versus a .2% increase in September.

- Initial Jobless Claims for last week are estimated to fall to 535K versus 542K.

- Continuing Claims are estimated to rise to 4080K versus 4012K prior.

9:45 am EST

- The Chicago Purchasing Manager report for November is estimated to fall to 37.0 from 37.8.

10:00 am EST

- The Final Univ. of Mich. Consumer Confidence index for November is estimated to fall to 57.5 versus a prior estimate of 57.9.

- New Home Sales for October are estimated to fall to 441K versus 464K in September.

10:35 am EST

- Bloomberg consensus estimates call for a weekly crude oil inventory build of 1,000,000 barrels versus a 1,599,000 barrel increase the prior week. Gasoline supplies are expected to rise by 500,000 barrels versus a 539,000 barrel increase the prior week. Distillate inventories are expected unch. versus a -1,471,000 barrel decline the prior week. Finally, Refinery Utilization is estimated to rise .1% versus a .32% gain the prior week.

Upcoming Splits
- None of note

Other Potential Market Movers
- The weekly MBA mortgage applications report could also impact trading today.

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