Late Buy/Sell Recommendations
- Reiterated Buy on (ALTR), raised estimates, target $27.
Asian Indices are -.25% to +.50% on average.
Asia Ex-Japan Inv Grade CDS Index 114.50 unch.
S&P 500 futures -.07%.
NASDAQ 100 futures -.03%.
Earnings of Note
10:00 am EST
- ISM Manufacturing for November is estimated to fall to 55.0 versus 55.7 in October.
- ISM Prices Paid for November is estimated at 65.0 versus 65.0 in October.
- Construction Spending for October is estimated to fall -.5% versus a +.8% gain in September.
- Pending Home Sales for October are estimated to fall -1.0% versus a +6.1% gain in September.
- Total Vehicle Sales for November are estimated to rise to 10.5M versus 10.45M in October.
- None of note
Other Potential Market Movers
- The Fed’s Plosser speaking, API Energy Inventory report, CSFB Technology Conference, Citi Basic Materials Conference, Citi Chemical Conference, (AGO) analyst meeting, FBR Investor Conference, Piper Jaffray Healthcare Conference, (UNH) analyst day, ABC Consumer Confidence reading and the weekly retail sales reports could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by financial and technology shares in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.