Friday Watch

Earnings of Note
Company/Estimate
AEE/1.29
BLC/.30
FO/1.18
HCA/.48
JBHT/.55
NTE/.26
NANO/.14
NXTL/.38
PLUG/-.16
SLB/.53
SUP/.20
WY/1.40

Splits
None of note.

Economic Data
None of note.

Recommendations
Goldman Sachs reiterated Outperform on DHR, MCK, TPX, UPS, PFE, ACS and Underperform on ELX, EW.

Late-Night News
Asian indices are higher on optimism over economic reports from Japan and China. New York State Attorney General Eliot Spitzer is considering criminal charges against William Gilman and other insurance brokerage executives from Marsh & McLennan, Business Week reported. George Economou, a Greek shipowner, plans to sell shares in a company that owns 15 so-called dry-bulk carriers on Nasdaq, Lloyd's List reported. New York Attorney General Spitzer has served subpoenas on four record companies as part of a probe into practices that may influence what songs are played on public radio, the NY Times said. 12,000 people, .04% of the 25.4 million Iraqi population, are part of the hard-core resistance in Iraq, the NY Times reported. Japan's services industry activity expanded in August as corporations increased spending on software and computer systems, Bloomberg reported. More than 62% of the estimated 8 million votes have been counted in Afghanistan with President Hamid Karzai leading with 56% of the vote, according to the election web site. China's industrial production grew 17% in the first nine months of the year, the government said in Beijing. China's economy expanded 9.5% in the first nine months of the year, the government said in Beijing, as lending restrictions curbed investment, Bloomberg reported. John Kerry took time to hunt geese in Ohio yesterday, hoping to attract the vote of sportsmen in the state, Bloomberg reported. BHP Billiton, the world's largest mining company, said it expects demand from China and India to keep commodity prices relatively high in the coming months, Bloomberg reported.

Late-Night Trading
Asian Indices are +.25% to +.75% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated -.20%

BOTTOM LINE: I expect U.S. equities to open modestly lower in the morning and then rise later in the day, led by technology shares, on short-covering, bargain-hunting and better earnings reports. The Portfolio is 125% net long heading into tomorrow.