Weekend HeadlinesBloomberg:- Those who lost brothers and sisters at New York’s World Trade Center returned today to the site of its destruction to market the fourth anniversary of the Sept. 11 attacks and recite the names of the 2,749 people who died there.
- Toyota Motor will increase its production of hybrid cars to meet expectations for an expansion in sales, a company spokesman said.
- Al-Qaeda issued a new videotape on the fourth anniversary of the Sept. 11 attacks in which a US-born supporter threatens attacks against Los Angeles and Melbourne, Australia.
- New Orleans officials say the city’s death toll from Katrina may be less than previously estimated.
- Wal-Mart Stores said September sales at its US stores open at least a year are rising within its forecast range in the aftermath of Katrina.
- US Treasuries are likely to extend a 14-month rally as the Fed sticks to its “measured” pace of interest-rate hikes to keep inflation from accelerating after Katrina.
- The yen is rising after Japanese Prime Minister Koizumi, who is credited with reviving the world’s second-largest economy, was returned to office with an increased majority in national elections.
- New Orleans began to show signs of returning to normal today as commercial cargo flights landed again at the city’s airport and repair crews continued restoring power to much of the hurricane-damaged region.
- Japanese stocks are rising, with key benchmarks set for their highest close in more than four years, after Prime Minister Koizumi won a landslide election victory, giving him a mandate to sell state assets.
- China’s consumer prices rose in August at the slowest pace in almost 2 years as food costs moderated, and clothing and mobile phones became cheaper.
- The euro is falling against the dollar and yen after polls showed Germany’s opposition Christian Democratic Union may find it more difficult to beat Chancellor Gerhard Schroeder’s party in elections of Sept. 18.
Barron’s:- Apple Computer’s shift to flash memory for its new iPod nano digital music player shows flash prices have declined enough compared with hard drives for the technology to be used in small mobile devices.
New York Times:- Some New Orleans hotels and restaurants are reopening in the aftermath of Hurricane Katrina to cope with the influx of thousands of emergency workers, journalists, contractors and cleanup crews.
- Evergreen Solar, DayStar Technologies, Spire Corp., and Energy Conversion Devices have more than doubled in price in the last year and stand to benefit more as the solar market expands amid subsides and rising energy prices.
- China deployed five warships Sept. 9 near a gas field in the East China Sea that is disputed with Japan.
Washington Post:- Delta Air Lines may file for Chapter 11 bankruptcy protection next week, providing it can obtain a loan to cover operating expenses, citing sources familiar with the plan.
- The Red Cross says it is paying the hotel bills of at least 57,000 people who fled Hurricane Katrina.
San Jose Mercury News:- Siebel Systems has met with Oracle in recent weeks, and may be discussing a takeover by its larger rival.
AP:- Northwest Airlines’ mechanics union expects to reach a deal with the airline, though striking workers likely won’t be happy with it.
AFP:- A group linked to al-Qaeda said in a statement over the Internet that it may use chemical and other non-conventional weapons against coalition forces and Iraqi soldiers.
Spiegel:- Adnan Shihab-Eldin, acting secretary-general of OPEC, said members will announce measures to increase oil output by about 2 million barrels a day in order to help reduce crude prices.
Weekend RecommendationsBarron's: - Had positive comments on DELL, RL, CCL and RCL.
Goldman Sachs:- Reiterated Outperform on STR, XOM, PFGC, BBY and FDC.
- Reiterated Underperform on THC.
Night Trading Asian indices are unch. to +1.0% on average.
S&P 500 indicated +.08%.
NASDAQ 100 indicated +.12%.
Morning PreviewUS AM Market CallNASDAQ 100 Pre-Market Indicator/Heat MapPre-market CommentaryBefore the Bell CNBC Video(bottom right)
Global CommentaryAsian IndicesEuropean IndicesTop 20 Business StoriesIn PlayBond TickerDaily Stock EventsMacro CallsRasmussen Consumer/Investor Daily IndicesCNBC Guest ScheduleEarnings of NoteCompany/EstimateCPB/.21
ENER/-.26
MWD/1.04
Upcoming SplitsFDG 3-for-1
Economic Releases- None of note
BOTTOM LINE: Asian Indices are higher, spurred by gains in Japanese shares. I expect US stocks to open modestly higher on gains in Asia and diminishing terrorism/hurricane fears. The Portfolio is 100% net long heading into the week.
