Monday Watch

Earnings of Note
Company/Estimate
NFLX/.18
RI/.44

Splits
None of note.

Economic Data
Factory Orders for August estimated to rise .1% versus a 1.3% increase in July.

Weekend Recommendations
Louis Rukeyser's Wall Street had guests that were positive on WFC, PEP, PFE, GD, RIG, UNH, CD, PGR, EBAY, SBUX, QCOM and YHOO. Bulls and Bears had guests that were positive on PGH, SPN, WON, CSCO, BAC, C, TEVA and mixed on PFE, HRB, MRK. Forbes on Fox had guests that were mixed on MCD and LTD. Cashin' In had guests that were positive on BHI and PTR. Barron's had positive comments on NEM. Goldman Sachs reiterated Outperform on FON, AET, PFE, RE, VLTR and CZN. Goldman reiterated Underperform on CYT, DQE, MKL and LVLT.

Weekend News
Bruce Springsteen, R.E.M., Dave Mathews, the Dixie Chicks and other musicians began a series of concerts called the "Vote for Change" tour in order to persuade young adults to vote for Senator Kerry, the NY Times reported. The concerts are presented by MoveOn.org, the political action committee backed by billionaire hedge fund manager George Soros, the paper said. Merck & Co. may face a legal bill of as much as $10 billion after the global withdrawal of its painkiller drug Vioxx due to a potential link to heart attacks and strokes, the Financial Times reported. New York & Co.'s IPO may net $180 million for Bear Stearns Merchant Banking, which bought the women's clothing retailer in 2002, Barron's said. China's central bank doesn't plan to raise interest rates, Chinanews' Web site said. Kohlberg Kravis Roberts joined a group led by Goldman Sachs to bid $2.7 billion for drugmaker Warner Chilcott Plc, the Sunday Times reported. Kuwait plans to buy 10 more F-18 fighter jets from the U.S., adding to 40 bought in 1992, Gulf Business magazine reported. Citigroup is targeting Barclays Plc and Lloyds TSB Group Plc among possible acquisitions as it seeks to expand in U.K. consumer banking, Bloomberg reported. The U.S. presidential candidates are expected to spend 60% more on tv ads in Philadelphia than in the 2000 election, representing a windfall for local tv stations in Pennsylvania, the Philadelphia Inquirer reported. Christie's International and Sotheby's Holdings plan to sell hundreds of millions of dollars worth of art in November in New York, the highest value in almost 15 years, the NY Times said. East New York, once plagued by run-down homes, drug markets and soaring crime, is being spruced up with new two-and three-family row houses, the NY Times reported. Merrill Lynch, after years of cutbacks, has started acquiring companies and recently added almost 1,200 employees and top-level executives in its electronic stock trading and hedge-fund brokerage units, Crain's New York Business reports. Viacom plans to soon purchase electronic-game company Midway Games, the New York Post said. "We are at the early stages of a fairly prolonged global expansion of mining capacity, said Caterpillar CEO Owens. The North Korean military has 500 to 600 computer hackers capable of conducting cyber war against the U.S. and its allies, including South Korea and Japan, the Yonhap News agency said. 3,000 U.S. and 2,000 Iraqi troops have retaken the insurgent-controlled city of Samarra in the so-called Sunni triangle west of Baghdad after a three-day fight, the NY Times said. Wal-Mart estimated September sales at U.S. stores open at least a year rose 2.3% as shoppers bought more bedding and electronics, Bloomberg reported. U.S. President Bush said an election-year bill renewing $146 billion in tax cuts will benefit families and keep the economy on the path of recovery, Bloomberg said. Crude oil futures may fall today after a cease-fire in Nigeria held and rebel leaders said they have no quarrel with international oil companies operating in Africa's biggest oil-producing state, Bloomberg said. The Montreal Expos, who have had the worst attendance in the major leagues for seven straight years, may fetch $300 million to $400 million after they move to Washington, triple what baseball owners paid for the franchise two years ago, Bloomberg reported.

Late-Night Trading
Asian indices are sharply higher, +1.5% to +2.75% on average.
S&P 500 indicated +.34%.
NASDAQ indicated +.62%

BOTTOM LINE: I expect U.S. stocks to open higher in the morning on strength in Asia, optimism over accelerating economic growth, short-covering and declining energy prices. The Portfolio is 125% net long heading into the week.